---
title: "Nirman Agri Genetics Ltd (NIRMAN) — Share Price, Financials & Analysis"
symbol: "NIRMAN"
company: "Nirman Agri Genetics Ltd"
canonical: "https://tapetide.com/stocks/NIRMAN"
isin: "INE0OK701014"
nse_symbol: "NIRMAN"
sector: "FMCG"
industry: "Agricultural Products"
market_cap_cr: 22.03
generated_at: "2026-09-13T18:52:52.101Z"
---

# Nirman Agri Genetics Ltd (NIRMAN)

Canonical page: https://tapetide.com/stocks/NIRMAN

## Company

- **NSE Symbol:** NIRMAN
- **ISIN:** INE0OK701014
- **Sector:** FMCG
- **Industry:** Agricultural Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Listed Since:** 2023-03-28
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** nirmanagrigen.com

## About

Incorporated in 2020, Nirman Agri Genetics Ltd is in the business of manufacturing and processing seeds[1]

## Latest Price

- **Price:** ₹27.55
- **Change:** -0.35 (-1.25%)
- **Open:** ₹27.3
- **Day High:** ₹28.5
- **Day Low:** ₹27
- **Previous Close:** ₹27.9
- **Volume:** 21300
- **As Of:** 2026-09-11T09:59:37+00:00

## Key Fundamentals

Observed at 2026-09-11T04:38:54.560080Z.

- **Market Cap:** ₹22.03 Cr
- **Classification:** SME
- **P/E (reported):** 1.3
- **Book Value:** ₹159.24
- **Price to Book:** 0.18
- **Dividend Yield:** 7.17%
- **ROE:** 22.99%
- **ROCE:** 23.72%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹196.57 Cr
- **Net Income:** ₹17.6 Cr
- **EBITDA:** ₹18.83 Cr
- **52-Week High:** ₹231
- **52-Week Low:** ₹27.05
- **RSI (14):** 33.83

## Tapetide Score

- **Score:** 53 / 100
- **Score date:** 2026-09-04
- **Archetype:** No Dominant Pattern
- **What it means:** The three pillars do not combine into a recognisable pattern. Read them individually rather than looking for one story — the lack of a pattern is itself the finding.
- **Pillar profile:** Quality: Average · Valuation: Cheap · Momentum: Falling
- **Percentile:** 61 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 87.5 | 9% |
| growth | 17.55 | 9% |
| momentum | 5.32 | 12% |
| ownership | 50.21 | 24% |
| quality | 58.86 | 22% |
| valuation | 74.53 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.17 times its book value
- Company is expected to give good quarter
- Company has delivered good profit growth of 223% CAGR over last 5 years

### Weaknesses

- Tax rate seems low
- Debtor days have increased from 84.6 to 129 days.
- Promoter holding has decreased over last 3 years: -21.2%
- Working capital days have increased from 133 days to 213 days

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -854.42% | — | — |
| ebitda margin growth | 1.39% | -15.15% | -46.18% | -62.27% |
| net income growth | 2.99% | -30.43% | 64% | 223% |
| revenue growth | 3.11% | -16.95% | 90% | 120% |
| roce | — | -19.15% | 53.83% | 32.69% |
| roe | — | -17.51% | 21.91% | -72.81% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 6 | 14 | 24 | 39 | 112 | 124 | 146 | 50 |
| Expenses | 4 | 11 | 20 | 33 | 100 | 110 | 131 | 47 |
| Operating Profit | 2 | 3 | 4 | 7 | 12 | 15 | 15 | 4 |
| OPM % | 27 | 20 | 19 | 17 | 11 | 12 | 10 | 7 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Profit before tax | 2 | 3 | 4 | 7 | 12 | 14 | 15 | 3 |
| Tax % | 0 | 10 | 10 | 2 | 4 | 3 | 3 | 3 |
| Net Profit | 2 | 2 | 4 | 6 | 11 | 14 | 15 | 3 |
| EPS in Rs | — | 2.96 | 4.91 | 8.1 | 14.3 | 17.04 | 18.2 | 3.78 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 8m | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 4 | 13 | 29 | 63 | 237 | 197 |
| Expenses | 4 | 10 | 24 | 52 | 210 | 178 |
| Operating Profit | 0 | 3 | 4 | 11 | 27 | 19 |
| OPM % | 1.8 | 25 | 15 | 18 | 11 | 10 |
| Other Income | 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 | 18 |
| Tax % | 29 | 25 | 6 | 5 | 3 | 3 |
| Net Profit | 0 | 3 | 4 | 10 | 25 | 18 |
| EPS in Rs | — | — | 5.01 | 13 | 31.57 | 21.99 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 0.01 | 6 | 6 | 8 | 8 |
| Reserves | 0 | 3 | 21 | 31 | 102 | 120 |
| Borrowings | 1 | 1 | 1 | 1 | 0 | 0 |
| Other Liabilities | 1 | 2 | 2 | 6 | 3 | 2 |
| Total Liabilities | 2 | 6 | 30 | 44 | 113 | 129 |
| Fixed Assets | 0 | 0 | 1 | 0 | 2 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2 | 6 | 29 | 44 | 111 | 128 |
| Total Assets | 2 | 6 | 30 | 44 | 113 | 129 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | 0 | 4 | -32 | -24 |
| Cash from Investing Activity | 0 | 0 | -21 | -2 | 10 | 0 |
| Cash from Financing Activity | 1 | 0 | 20 | -1 | 46 | -1 |
| Net Cash Flow | 1 | 0 | -1 | 1 | 24 | -25 |
| Free Cash Flow | 0 | 0 | -1 | 4 | -33 | -25 |
| CFO/OP | -357 | 25 | 2 | 36 | -119 | -130 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 58 | 114 | 52 | 67 | 58 | 129 |
| Inventory Days | 21 | 25 | 76 | 61 | 66 | 98 |
| Days Payable | 40 | 38 | 6 | 39 | 3 | 1 |
| Cash Conversion Cycle | 39 | 101 | 121 | 89 | 121 | 226 |
| Working Capital Days | 32 | 76 | 87 | 76 | 110 | 213 |
| ROCE % | — | 133 | 27 | 34 | 35 | 15 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65.59% | 66.05% | 66.05% | 66.05% | 57.81% | 57.96% | 44.34% | 44.34% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.02% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 25.86% | 23.42% | 24.58% | 30.38% | 37.75% | 38.47% | 49.88% | 52.27% |
| Others | 8.56% | 10.53% | 9.37% | 3.57% | 4.45% | 3.57% | 5.78% | 3.38% |
| No. of Shareholders | 7 | 639 | 752 | 1281 | 2231 | 2895 | 4017 | 4212 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 5 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 28.15 | Sell |
| EMA (10) | 28.24 | Sell |
| SMA (20) | 29.24 | Sell |
| EMA (20) | 29.59 | Sell |
| SMA (50) | 34.81 | Sell |
| EMA (50) | 34.04 | Sell |
| SMA (100) | 41.5 | Sell |
| EMA (100) | 40.94 | Sell |
| SMA (200) | 48.83 | Sell |
| EMA (200) | 64.01 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 32.61 | Neutral |
| MACD (12,26,9) | -2.05 | Buy |
| Stochastic (14,3,3) | 9.63 | Buy |
| ADX (14) | 14.32 | Neutral |
| Williams %R (14) | -87.78 | Buy |
| ATR (14) | 1.91 | High Volatility |
| ROC (12) | -7.71 | Sell |
| Stoch RSI (14) | 49.66 | Neutral |
| UO (7,14,28) | 39.2 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Notice of 31st AGM on 30 September 2026 at 2:00 PM via online mode. | [Copy of Newspaper Publication 9 Sep - Notice of 31st AGM on 30 September 2026 at 2:00 PM via online mode.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_09092026112139_Newspaper_publication-Final.pdf) |
| 8 Sep - Company provides remote e-voting for 6th AGM on 30 September 2026; voting runs 27-29 September 2026. | [Updates 8 Sep - Company provides remote e-voting for 6th AGM on 30 September 2026; voting runs 27-29 September 2026.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_08092026160220_E-Voting_Signed.pdf) |
| 8 Sep - Board approved annual reports and set 6th AGM for 30 September 2026 via VC, with e-voting dates. | [Outcome of Board Meeting 8 Sep - Board approved annual reports and set 6th AGM for 30 September 2026 via VC, with e-voting dates.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_08092026155720_BM_Outcome_signed.pdf) |
| 8 Sep - 6th AGM on 30 Sep 2026 via VC/OAVM to adopt FY26 results and appoint director, secretarial auditor. | [Shareholders meeting 8 Sep - 6th AGM on 30 Sep 2026 via VC/OAVM to adopt FY26 results and appoint director, secretarial auditor.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_08092026161933_Notice_of_6th_AGM-Final.pdf) |
| 30 May 2026 - Board approved FY26 audited standalone results; revenue ₹19,657.32 lakh, profit ₹1,760.53 lakh. | [Outcome of Board Meeting 30 May 2026 - Board approved FY26 audited standalone results; revenue ₹19,657.32 lakh, profit ₹1,760.53 lakh.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_30052026182842_Outcome_of_BM-Final.pdf) |
| 28 May 2026 - Nirman Agri Genetics says Regulation 24A annual secretarial compliance report is not applicable for FY2026. | [Updates 28 May 2026 - Nirman Agri Genetics says Regulation 24A annual secretarial compliance report is not applicable for FY2026.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_28052026161610_SIGNED-Non-Applicability_Annual_Secertarial_Report.pdf) |
| 26 March 2026 - Trading window closed April 1, 2026 until 48 hours after audited FY ended 31 March 2026. | [Trading Window 26 March 2026 - Trading window closed April 1, 2026 until 48 hours after audited FY ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_26032026150233_Closure_of_Trading_Window.pdf) |
| 22 January 2026 - Mr. Pranav Kailas Bagal appointed CFO effective January 22, 2026; holds 44.33% shares; ~7 years experience. | [Appointment 22 January 2026 - Mr. Pranav Kailas Bagal appointed CFO effective January 22, 2026; holds 44.33% shares; ~7 years experience.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_22012026174150_Intimation_Regulation_CFO_NAGL_220126_Signed.pdf) |
| 22 January 2026 - Appointed Pranav Kailas Bagal as CFO effective 22 Jan 2026; holds 44.33% shareholding. | [Outcome of Board Meeting 22 January 2026 - Appointed Pranav Kailas Bagal as CFO effective 22 Jan 2026; holds 44.33% shareholding.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_22012026173932_Outcome_of_Board_Meeting_CFO_NAGL_220126_Signed.pdf) |
| 21 Jul - Submitted SDD compliance certificate for quarter ended 30 June 2026. | [Structural Digital Database 21 Jul - Submitted SDD compliance certificate for quarter ended 30 June 2026.](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_21072026182054_SDD-Final.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31868_NIRMAN_2025_2026_A_2825046_08092026161504.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29006_NIRMAN_2024_2025_A_4109362_09092025192315.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26263_NIRMAN_2023_2024_26092024183123.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23900_NIRMAN_2022_2023_11092023150520_09112023160001.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2023 | [Concall - Oct 2023](https://nsearchives.nseindia.com/corporate/NIRMAN_18102023145115_181023NAGLInvestorPresentation.pdf) |
| May 2023 | [Concall - May 2023](https://archives.nseindia.com/corporate/NIRMAN_30052023143329_300523NAGLInvestorPresentation.pdf) |
| Mar 2025 | [Concall - Mar 2025](https://nsearchives.nseindia.com/corporate/NIRMANAGRI_03032025132726_030325NAGLEarningCall.pdf) |
| Jul 2024 | [Concall - Jul 2024](https://nsearchives.nseindia.com/corporate/NIRMAN_01072024125454_130423NAGLInvestorPresentation.pdf) |
| Jul 2024 | [Concall - Jul 2024](https://nsearchives.nseindia.com/corporate/NIRMAN_01072024105553_130423NAGLInvestorPresentation.pdf) |
| Jul 2023 | [Concall - Jul 2023](https://archives.nseindia.com/corporate/NIRMAN_20072023153412_200723_NAGL_InvestorPresentation.pdf) |
| Apr 2023 | [Concall - Apr 2023](https://archives.nseindia.com/corporate/NIRMAN_13042023112739_130423NAGLInvestorPresentation.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:52:52.101Z.