Past 10 year's financial track record analysis by Moneyworks4me indicates that Narmada Gelatines Ltd is a average quality company.
The key valuation ratios of Narmada Gelatines Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Narmada Gelatines Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 23.9% | 12.1% | 7.3% | 7.1% | 10.4% | 13.6% | 8.4% | 10.9% | 16.8% | 20.6% | - |
| Value Creation Index ⓘ | 0.7 | -0.1 | -0.5 | -0.5 | -0.3 | 0.0 | -0.4 | -0.2 | 0.2 | 0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 134 | 131 | 113 | 118 | 126 | 134 | 135 | 157 | 191 | 182 | 188 |
| Sales YoY Gr. | - | -2.1% | -14.2% | 4.3% | 6.9% | 6.8% | 0.5% | 16.7% | 21.5% | -4.9% | - |
| Adj EPS ⓘ | 22.9 | 13.1 | 9.4 | 10.4 | 11.7 | 21.2 | 14 | 20.6 | 25.3 | 25.3 | 26.7 |
| YoY Gr. | - | -43% | -28.3% | 11.1% | 11.8% | 82% | -34.2% | 47.4% | 22.9% | 0.3% | - |
| BVPS (₹) ⓘ | 171.2 | 180.1 | 195.9 | 204.6 | 216.2 | 225.5 | 229.4 | 240 | 155.2 | 180.1 | 183 |
| Adj Net Profit ⓘ | 13.9 | 7.9 | 5.7 | 6.3 | 7.1 | 12.8 | 8.4 | 12.4 | 15.3 | 15.3 | 16 |
| Cash Flow from Ops. ⓘ | 5.9 | 6.8 | 7.2 | 9.2 | 12 | 4.7 | 3.1 | 1.9 | 13.8 | 14.6 | - |
| Debt/CF from Ops. ⓘ | 0.2 | 0.2 | 0 | 0 | 0.2 | 0.1 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 3.4% | 7.7% | 10.5% | -4.9% | ||||
| Adj EPS ⓘ | 1.1% | 16.8% | 22% | 0.3% | ||||
| BVPSⓘ | 0.6% | -3.6% | -7.8% | 16% | ||||
| Share Price | 4.7% | 17% | 24.5% | -21.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 14.2 | 7.4 | 5 | 5.2 | 5.5 | 9.6 | 6.1 | 8.8 | 12.8 | 15.1 | 14.7 |
| Op. Profit Mgn % ⓘ | 15.6 | 8.4 | 3.4 | 4.6 | 7.3 | 10.5 | 5.6 | 9.2 | 10.3 | 11.7 | 11.6 |
| Net Profit Mgn % ⓘ | 10.3 | 6 | 5 | 5.4 | 5.6 | 9.6 | 6.3 | 7.9 | 8 | 8.4 | 8.6 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 |
| Working Cap Days ⓘ | 4,647 | 4,801 | 226 | 170 | 150 | 152 | 180 | 170 | 143 | 151 | 87 |
| Cash Conv. Cycle ⓘ | 106 | 122 | 135 | 125 | 108 | 102 | 112 | 108 | 95 | 104 | 62 |
Return on Equity has increased versus last 3 years average to 14.70%
Sales growth is growing at healthy rate in last 3 years 10.47%
Sales growth is not so good in last 4 quarters at 1.12%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 26.7 | -0.7 |
| TTM Sales (₹ Cr.) | 188 | 46.3 |
| BVPS (₹.) ⓘ | 183 | 0 |
| Reserves (₹ Cr.) ⓘ | 105 | 25 |
| P/BV ⓘ | 1.84 | 0.00 |
| PE ⓘ | 12.62 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 320.00 / 454.95 |
| All Time Low / High (₹) | 5.63 / 566.15 |
| Market Cap (₹ Cr.) | 204 |
| Equity (₹ Cr.) | 6.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 55.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 134 | 131 | 113 | 118 | 126 | 134 | 135 | 157 | 191 | 182 |
| Operating Expenses ⓘ | 113 | 120 | 109 | 112 | 117 | 120 | 127 | 143 | 171 | 161 |
| Manufacturing Costs | 27 | 26 | 22 | 23 | 29 | 29 | 23 | 29 | 41 | 36 |
| Material Costs | 70 | 79 | 73 | 75 | 73 | 76 | 90 | 98 | 112 | 105 |
| Employee Cost | 11 | 11 | 10 | 10 | 11 | 11 | 11 | 12 | 14 | 15 |
| Other Costs ⓘ | 5 | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Operating Profit ⓘ | 21 | 11 | 4 | 5 | 9 | 14 | 8 | 14 | 20 | 21 |
| Operating Profit Margin (%) | 15.6% | 8.4% | 3.3% | 4.5% | 7.3% | 10.5% | 5.6% | 9.1% | 10.3% | 11.7% |
| Other Income ⓘ | 3 | 3 | 6 | 4 | 5 | 6 | 6 | 3 | 2 | 2 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 23 | 13 | 8 | 8 | 13 | 18 | 11 | 15 | 20 | 21 |
| Tax ⓘ | 8 | 5 | 2 | 0 | 3 | 5 | 3 | 3 | 5 | 5 |
| Profit After Tax | 16 | 8 | 6 | 8 | 10 | 13 | 8 | 12 | 15 | 15 |
| PAT Margin (%) | 11.5% | 6.3% | 5.4% | 6.8% | 8.0% | 9.6% | 6.3% | 7.8% | 8.0% | 8.4% |
| Adjusted EPS (₹) | 25.6 | 13.7 | 10.1 | 13.3 | 16.6 | 21.3 | 14.0 | 20.4 | 25.3 | 25.3 |
| Dividend Payout Ratio (%) | 14% | 29% | 40% | 30% | 60% | 47% | 72% | 49% | 396% | 39% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 104 | 109 | 119 | 124 | 131 | 136 | 139 | 145 | 94 | 109 |
| Share Capital ⓘ | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves ⓘ | 98 | 103 | 112 | 118 | 125 | 130 | 133 | 139 | 88 | 103 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1 | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 1 | 2 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 4 | 5 | 10 | 8 | 12 | 13 | 15 | 15 | 13 | 14 |
| Others Liabilities ⓘ | 3,562 | 44 | 11 | 8 | 10 | 11 | 11 | 9 | 10 | 10 |
| Total Liabilities ⓘ | 3,671 | 160 | 140 | 140 | 155 | 161 | 165 | 170 | 117 | 134 |
Fixed Assets | ||||||||||
| Gross Block | 55 | 55 | 22 | 27 | 26 | 27 | 33 | 32 | 34 | 35 |
| Accumulated Depreciation | 32 | 32 | 0 | 1 | 1 | 2 | 3 | 5 | 6 | 8 |
| Net Fixed Assetsⓘ | 23 | 23 | 22 | 25 | 24 | 26 | 29 | 27 | 28 | 27 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 1 | 2 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 27 | 34 | 45 | 53 | 68 | 65 | 50 | 48 | 4 | 10 |
| Inventories | 37 | 36 | 38 | 30 | 29 | 34 | 41 | 50 | 47 | 47 |
| Trade Receivables | 15 | 17 | 16 | 19 | 19 | 20 | 18 | 16 | 19 | 22 |
| Cash Equivalents | 15 | 13 | 14 | 10 | 10 | 9 | 12 | 20 | 9 | 22 |
| Others Assetsⓘ | 3,554 | 37 | 6 | 3 | 4 | 5 | 14 | 9 | 9 | 6 |
| Total Assets ⓘ | 3,671 | 160 | 140 | 140 | 155 | 161 | 165 | 170 | 117 | 134 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 6 | 7 | 7 | 9 | 12 | 5 | 3 | 2 | 14 | 15 |
| PBT ⓘ | 23 | 13 | 8 | 8 | 13 | 18 | 11 | 15 | 20 | 21 |
| Adjustment ⓘ | -1 | -1 | -4 | -2 | -4 | -3 | -3 | -1 | 0 | 0 |
| Changes in Working Capital ⓘ | -8 | -1 | 4 | 5 | 5 | -7 | -1 | -8 | 0 | -2 |
| Tax Paid ⓘ | -8 | -4 | -2 | -2 | -2 | -3 | -4 | -4 | -6 | -5 |
| Cash Flow From Investing Activity ⓘ | 0 | -7 | -2 | -2 | -5 | -4 | 6 | 10 | 44 | -12 |
| Capex | 0 | 0 | 0 | -5 | -1 | -4 | -4 | 0 | -2 | -2 |
| Net Investments | -3 | -7 | -3 | -2 | -4 | -1 | 8 | 9 | 46 | -11 |
| Others ⓘ | 3 | 0 | 1 | 5 | 0 | 1 | 1 | 1 | 1 | 1 |
| Cash Flow From Financing Activityⓘ | -3 | -2 | -5 | -3 | -1 | -9 | -7 | -6 | -67 | 0 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | -2 | -3 | -3 | -3 | -3 | -7 | -6 | -6 | -67 | 0 |
| Others ⓘ | 0 | 0 | -2 | 0 | 2 | -2 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 3 | -2 | 0 | 4 | 6 | -8 | 2 | 6 | -9 | 2 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 15.96 | 7.8 | 5.37 | 6.63 | 7.91 | 9.64 | 6.15 | 8.69 | 12.78 | 15.12 |
| ROCE (%) | 23.89 | 12.11 | 7.32 | 7.05 | 10.38 | 13.59 | 8.4 | 10.92 | 16.83 | 20.55 |
| Asset Turnover Ratio | 0.08 | 0.07 | 0.81 | 0.86 | 0.85 | 0.85 | 0.83 | 0.94 | 1.33 | 1.45 |
| PAT to CFO Conversion(x) | 0.38 | 0.88 | 1.17 | 1.13 | 1.2 | 0.38 | 0.38 | 0.17 | 0.93 | 1 | Working Capital Days |
| Receivable Days | 37 | 41 | 49 | 54 | 56 | 53 | 51 | 39 | 33 | 42 |
| Inventory Days | 85 | 95 | 112 | 103 | 85 | 86 | 102 | 105 | 92 | 94 |
| Payable Days | 25 | 21 | 38 | 45 | 51 | 61 | 57 | 57 | 46 | 48 |
Narmada Gelatines, erstwhile Shaw Wallace Gelatines Ltd and a member of Jumbo Group, was set up in 1961. The company is strategically located in the central Indian state of Madhya Pradesh and has convenient access to its main and essential inputs of crushed bones, acid, lime and good quality water.
Narmada Gelatines, has pioneered the manufacture of ossein and gelatin in India and is today a frontrunner in India's gelatine Industry meeting exacting standards of various users worldwide.
Narmada has successfully applied sophisticated technology to ensure quality at each stage of its manufacturing process so that our products meet international quality standards and is commercially worthy of a broad spectrum of usages in the dynamic domestic and international markets.
The company has a government recognized in house R & D facility; a professional marketing set up with stock points / warehouses in major Indian metros; an all India purchase set up tied up with backward integrated units and a dominant position in the domestic market.
Production of gelatine at Narmada Gelatines Limited is undertaken at strictly controlled and stable conditions. Quality is a byword at Narmada Gelatines Limited and is closely monitored at each stage of the process. Quality techniques are constantly improved as these exacting quality control systems and standards have naturally resulted in recognition and awards.
Product range of the company:
The company is engaged in the manufacturing of gelatine for use in different purposes like:
Achievements/ recognition:
Certifications:
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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