Narmada Gelatine

BSE: SHAWGELTIN · Specialty Chemicals

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52W Range₹327 – ₹545

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Snapshot

Unlock Narmada Gelatine's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Narmada Gelatines Ltd is an Indian manufacturer specialising in the production of gelatine and ossein. The company operates a facility in Jabalpur, leveraging local access to essential raw materials such as crushed bones, acid, and lime.

Business Model

The company generates revenue through the processing and sale of gelatine and ossein products derived from animal bones. Its business model relies on the consistent procurement of raw materials and efficient chemical processing to serve industrial and commercial markets.

  • Incorporation Year:1969

Growth Outlook

Growth is primarily driven by the demand for gelatine across the pharmaceutical, food, and photography industries. Future performance remains tied to the stability of raw material supply chains and operational efficiency at the Jabalpur plant.

Key Risks

  • Raw Material Volatility. The company is highly dependent on the consistent supply and pricing of crushed bones, which are subject to seasonal and regulatory fluctuations.
  • Environmental Regulations. As a chemical processing entity, the company faces stringent environmental compliance requirements regarding waste management and water usage.
  • Input Cost Inflation. Fluctuations in the costs of essential inputs like acid and lime can significantly impact operating margins.

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Key Metrics

P/E

8.4x

Q4 FY26 · consolidated

8.4 vs 18.3x5Y avg

EV/EBITDA

7.0x

Q4 FY26 · consolidated

7.0 vs 12.9x5Y avg

NET PROFIT MARGIN

16.5%

Q4 FY26 · consolidated

+4.4 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

-0.06xYoY

Peers · Specialty Chemicals

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Narmada GelatineSHAWGELTIN
₹284 Cr8.417.02—18.9%24.9%30.0%+21.6%
Black Rose IndusBLACKROSE
₹586 Cr19.6513.25-0.2%12.5%17.8%23.9%+10.3%
Vipul OrganicsVIPULORG
₹506 Cr55.5028.2416.8%10.4%9.0%13.0%+26.1%
Plastiblends India LimitedPLASTIBLEN
₹487 Cr11.786.765.5%9.2%9.7%12.8%+4.3%
Agastya Energy and Infrastructure LimitedSANGINITA
₹455 Cr-19.81-83.28-23.2%-3.2%-18.0%-14.1%+581.9%
Aarti SurfactantAARTISURF
₹449 Cr22.939.6425.2%6.1%7.7%12.4%+7.3%

As of Q4 FY26

Financials