1. India Stocks

  2. •

    Consumer non-durables

  3. •

    Food: specialty/candy
Narmada Gelatines Limited

Narmada Gelatines Limited

BBSE:SHAWGELTIN
402.90
INR
-21.70
(-5.11%)
57.59EPS
8.85P/E
3.08BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
323.46
221.99
215.64
186.38
194.41
207.76
221.92
222.91
259.84
315.69
299.79
311.79
355.36
373.69
Basic EPS, GAAP
40.33
25.63
13.7
10.09
13.29
16.63
21.29
13.98
20.4
25.26
25.34
28.45
47.01
57.59
Free Cash Flow per Basic Share
24.03
7.72
10.31
11.46
6.85
17.5
-0.39
-0.65
2.81
19.09
21.12
2.28
24.53
- -
Dividend per Share
5.85
3.9
4.2
5.06
4.92
4.77
12.02
10
10
110
- -
10.01
10
- -
Book Value per Share
151.58
172.11
190.4
195.91
204.63
216.2
225.47
229.44
240.05
155.21
180.1
198.81
240.1
- -
Tangible Book Value per Share
151.5
172.06
190.35
195.88
204.62
216.2
225.47
229.44
240.05
155.21
180.1
198.81
239.7
- -
Basic Weighted Avg Shares
4
6
6
6
6
6
6
6
6
6
6
6
6
6
Sales/Revenue/Turnover
1,305
1,343
1,305
1,128
1,176
1,257
1,343
1,349
1,572
1,910
1,814
1,886
2,150
2,260
Operating Margin (%)
17.3
14.92
8.62
3.27
4.57
6.66
9.89
4.67
7.93
9.31
10.6
11.88
18.09
18.81
Depreciation Expense
19
13
12
11
12
13
14
15
21
19
20
22
29
30
Net Income, GAAP
163
155
83
61
80
101
129
85
123
153
153
172
284
348
Effective Tax Rate (%)
34.57
33.75
36.17
26.64
5.44
23.99
27.8
25.84
20.01
22.88
25.5
24.49
25.54
23.7
Profit Margin (%)
12.47
11.55
6.35
5.42
6.83
8.01
9.59
6.27
7.85
8
8.45
9.12
13.23
15.41
Working Capital
691
774
636
673
547
575
504
548
735
639
734
459
614
- -
LT Debt
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
60
41
- -
Total Equity
917
1,041
1,152
1,185
1,238
1,308
1,364
1,388
1,452
939
1,090
1,203
1,453
- -
Return on Invested Capital (%)
17.25
13.81
6.53
2.28
4.05
4.94
7.1
3.38
6.94
11.51
14.09
13.91
19.95
- -
Return on Capital (%)
19
15.69
7.48
5.21
6.64
7.85
9.77
6.21
8.72
12.79
15.12
14.89
20.36
- -
Return on Common Equity (%)
19.19
15.84
7.56
5.23
6.63
7.91
9.64
6.15
8.69
12.78
15.11
15.02
21.42
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
38
- -
LT Borrowings
- -
41
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
2,089
2,070
3,085

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
850
- -
Cash, Cash Equivalents & STI
- -
38
- -
Accounts Receivable, Net
- -
290
- -
Inventories
- -
488
- -
Total Current Liabilities
- -
237
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
38
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.55%
3.3%
20.77%
Free Cash Flow
103.48%
188.8%
976.57%
Net Income, GAAP
17.18%
29.51%
65.25%
Sales/Revenue/Turnover
5.58%
10.2%
13.97%
Total Cash Common Dividend
- -
- -
-0.08%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
432
479
480
498
1,886
2026
458
512
567
617
2,150
2027
564
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
6.61
6.32
7.31
9.98
28.45
2026
9.89
11.39
13.89
16.88
47.01
2027
15.43
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
10.01
2026
- -
- -
- -
- -
10
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Ashok Kumar Kapur
Full Time Employees
192
Sector
Consumer non-durables
Industry
Food: specialty/candy
Address
Village Meerganj Jabalpur MP India 482001
IPO Date
Mar 8, 1995
Website
narmadagelatines.com
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Business
Narmada Gelatines Limited is an India-based manufacturer engaged in the production and sale of gelatin and related products, including ossein and di-calcium phosphate (DCP) for various industrial applications. The company offers a broad range of gelatin products categorized into pharmaceutical, edible, industrial, and photographic grades. It also supplies DCP for animal feed and bone meal products. Narmada Gelatines serves diverse industries such as food and beverage, pharmaceuticals, photography, biomedical, personal care, and other technical sectors. The company operates primarily in India with an international presence, leveraging its strategic location in Jabalpur, Madhya Pradesh, which provides access to essential raw materials like crushed bones, acid, lime, and quality water. Founded in 1961 and formerly known as Shaw Wallace Gelatines Limited until a name change in 2002, it remains a key player in India's gelatin manufacturing industry. Recent major changes include its acquisition by Pioneer Jellice India Private Limited through a joint venture formed by Japan's Jellice and entities based in Sivakasi. In 2023, Pioneer Jellice acquired a controlling stake in Narmada Gelatines and has taken steps to integrate it with their broader industrial operations. The company has also expanded its portfolio through acquisitions, notably acquiring around 14% of India Gelatine & Chemicals Limited. Further, Narmada Gelatines is planning to enhance its manufacturing capacity and operational efficiency with upgrades including a new 2.15 MW solar power plant to reduce costs and support sustainable production. These strategic moves reflect a focused effort to grow in both domestic and international markets while strengthening raw material procurement and operational synergies under the new ownership structure. Narmada Gelatines Limited targets multiple market segments through its diversified product range, catering to industrial, pharmaceutical, and consumer sectors. Its operations in India and abroad emphasize quality and compliance with industry standards. As part of its growth strategy, the company continues to invest in capacity expansion and product innovation, maintaining its prominence in the gelatin industry. The company headquarters is located in Jabalpur, Madhya Pradesh, and it benefits from longstanding industry experience and strong raw material sourcing capabilities. This detailed corporate profile reflects Narmada Gelatines' current product offerings, strategic ownership changes, and ongoing operational enhancements as of 2025.