Nirman Agri Genetics Ltd.
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ABOUT
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 31.9%
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.3%
- Latest quarter profit grew 107.2% YoY, showing strong momentum
- Company comfortably covers its interest (1191.6x coverage)
- Attractively priced for its growth - PEG of 0.0
CONS
- Operating cash flow has been negative in recent years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.69x)
- Working capital days have increased from 85 to 150 days
- Effective tax rate is unusually low at 3.0% - earnings may be flattered
- Operating margins have contracted to 11.2% from 25.4%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KSCL | 724.25 | 14.93 | 3725.47 | 0.00 | 279.84 | -14.47 | 742.50 | -13.51 | 21.77 | 39.58 |
| VENKEYS | 1694.15 | 347.39 | 2386.61 | 0.59 | 49.99 | 215.79 | 1118.38 | 29.17 | 11.27 | 6.18 |
| AVTNPL | 92.21 | 16.76 | 1404.21 | 0.87 | 31.10 | 156.69 | 241.22 | 82.16 | 14.26 | 16.56 |
| BSHSL | 91.28 | 33.38 | 957.87 | 0.00 | 14.30 | 16.56 | 182.57 | 19.37 | 21.19 | 9.39 |
| REGAAL | 85.56 | 14.73 | 881.22 | 0.29 | 133.28 | 1369.95 | 2021.49 | 719.85 | 16.91 | 15.33 |
| MGEL | 15.78 | 11.01 | 520.04 | 0.06 | 8.43 | 31.00 | 952.06 | 10.89 | 19.37 | 1.94 |
| NATHBIOGEN | 151.67 | 7.87 | 288.23 | 1.32 | 32.26 | -13.46 | 328.40 | 15.76 | 6.89 | 10.70 |
| MSL | 148.50 | 19.61 | 163.06 | 0.00 | 3.97 | 1.93 | 61.84 | 25.81 | 12.34 | 9.28 |
| INDOUS | 80.49 | 31.88 | 161.40 | 0.00 | 3.04 | -35.38 | 32.99 | 7.21 | 21.15 | 12.01 |
| OSWALSEEDS | 13.08 | 9.79 | 119.64 | 0.00 | 12.27 | 68.60 | 117.08 | 19.53 | 9.88 | 15.65 |
| NARMADA | 14.51 | 30.64 | 110.09 | 0.00 | 7.54 | — | 222.63 | — | 8.94 | 4.25 |
| NIRMAN | 27.50 | 8.08 | 22.03 | 0.00 | 6.92 | 107.19 | 63.00 | 207.92 | 35.17 | 11.62 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 11 | 13 | 19 | 20 | 50 | 62 | 61 | 63 | |
| 0 | 0 | 9 | 11 | 16 | 17 | 45 | 55 | 54 | 56 | |
| Operating Profit | 0 | 0 | 2 | 2 | 3 | 4 | 5 | 7 | 7 | 7 |
| OPM % | — | — | 18.66% | 18.38% | 16.99% | 17.69% | 10.47% | 10.86% | 11.81% | 11.60% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 0 | 0 | 2 | 2 | 3 | 3 | 5 | 7 | 7 | 7 |
| Tax % | — | — | 9.71% | 9.87% | 0.32% | 2.91% | 3.82% | 3.61% | 1.75% | 3.35% |
| Net Profit | 0 | 0 | 2 | 2 | 3 | 3 | 5 | 6 | 7 | 7 |
| 0.00 | 0.00 | 3.12 | 3.53 | 5.28 | 5.60 | 8.45 | 8.01 | 8.40 | 8.64 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 4 | 13 | 29 | 63 | 237 | 237 | |
| 4 | 10 | 24 | 52 | 210 | 210 | |
| Operating Profit | 0 | 3 | 4 | 11 | 27 | 27 |
| OPM % | 1.94% | 25.39% | 15.25% | 18.13% | 11.23% | 11.22% |
| 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 |
| Profit before Tax | 0 | 3 | 4 | 11 | 26 | 26 |
| Tax % | 25.98% | 25.17% | 5.93% | 4.87% | 3.02% | 3.09% |
| Net Profit | 0 | 3 | 4 | 10 | 25 | 25 |
| EPS | 0.00 | 0.00 | 10.24 | 17.46 | 31.57 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 6.34% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 160%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 115%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -46%
- 1 Year:
- -81%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 73%
- 3 Years:
- 31%
- Last Year:
- 34%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 0 | 6 | 6 | 8 |
| 3 | 21 | 31 | 102 | |
| 1 | 1 | 1 | 0 | |
| Trade Payables | 1 | 0 | 5 | 1 |
| 1 | 1 | 1 | 1 | |
| Total Liabilities | 6 | 30 | 44 | 113 |
| 0 | 1 | 0 | 2 | |
| 1 | 5 | 8 | 37 | |
| 0 | 0 | 12 | 38 | |
| Cash & Bank | 1 | 0 | 2 | 26 |
| 4 | 24 | 22 | 11 | |
| Total Assets | 6 | 30 | 44 | 113 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -0 | 1 | 0 | 4 | -32 | |
| Cash from Investing | 0 | -0 | -21 | -2 | 10 |
| Cash from Financing | 1 | 0 | 20 | -1 | 46 |
| 1 | 0 | -1 | 1 | 24 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for NIRMAN
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AI Stock Analyst
Nirman Agri Genetics Ltd.
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