---
title: "Narmada Gelatines Ltd (SHAWGELTIN) — Share Price, Financials & Analysis"
symbol: "SHAWGELTIN"
company: "Narmada Gelatines Ltd"
canonical: "https://tapetide.com/stocks/SHAWGELTIN"
bse_code: "526739"
sector: "Commodities"
industry: "Chemicals & Petrochemicals"
generated_at: "2026-09-13T19:09:45.401Z"
---

# Narmada Gelatines Ltd (SHAWGELTIN)

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

## Company

- **BSE Code:** 526739
- **Sector:** Commodities
- **Industry:** Chemicals & Petrochemicals
- **Macro Sector:** Commodities
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** narmadagelatines.com

## About

Incorporated in 1969, Narmada Gelatines Ltd manufactures and sells Gelatine and Ossein[1]

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 38.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 32.0%

### Weaknesses

- The company has delivered a poor sales growth of 9.82% over past five years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 72% | 26% | 39% |
| revenue growth | 18% | 4% | 10% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 41.59 | 47.08 | 49.47 | 43.22 | 47.91 | 48.02 | 49.77 | 45.77 | 51.21 | 56.73 | 61.7 | 56.37 |
| Expenses | 37.71 | 42.38 | 42.85 | 37.93 | 42.68 | 41.44 | 42.29 | 38.25 | 41.86 | 46.06 | 47.94 | 44.65 |
| Operating Profit | 3.88 | 4.7 | 6.62 | 5.29 | 5.23 | 6.58 | 7.48 | 7.52 | 9.35 | 10.67 | 13.76 | 11.72 |
| OPM % | 9.33 | 9.98 | 13.38 | 12.24 | 10.92 | 13.7 | 15.03 | 16.43 | 18.26 | 18.81 | 22.3 | 20.79 |
| Other Income | 0.39 | 0.45 | 0.5 | 0.56 | 0.77 | 0.29 | 0.03 | 0.04 | 0.55 | 0.05 | 0.14 | 0.14 |
| Interest | 0.09 | 0.05 | 0.03 | 0.03 | 0.27 | 0.55 | 0.36 | 0.24 | 0.2 | 0.29 | 0.29 | 0.15 |
| Depreciation | 0.51 | 0.51 | 0.52 | 0.52 | 0.59 | 0.56 | 0.55 | 0.65 | 0.65 | 0.65 | 0.92 | 0.76 |
| Profit before tax | 3.67 | 4.59 | 6.57 | 5.3 | 5.14 | 5.76 | 6.6 | 6.67 | 9.05 | 9.78 | 12.69 | 10.95 |
| Tax % | 27.25 | 25.49 | 25.27 | 24.53 | 25.49 | 25.69 | 18.79 | 25.34 | 28.4 | 24.34 | 24.51 | 25.21 |
| Net Profit | 2.67 | 3.42 | 4.91 | 4 | 3.83 | 4.28 | 5.36 | 4.98 | 6.48 | 7.4 | 9.58 | 8.19 |
| EPS in Rs | 4.41 | 5.65 | 8.12 | 6.61 | 6.33 | 7.07 | 8.86 | 8.23 | 10.71 | 12.23 | 15.84 | 13.54 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 118 | 126 | 134 | 135 | 157 | 191 | 182 | 189 | 215 | 226 |
| Expenses | 112 | 116 | 120 | 127 | 143 | 171 | 161 | 164 | 174 | 181 |
| Operating Profit | 5 | 9 | 14 | 8 | 15 | 20 | 21 | 25 | 41 | 46 |
| OPM % | 4.6 | 7 | 11 | 6 | 9 | 10 | 12 | 13 | 19 | 20 |
| Other Income | 4 | 5 | 6 | 6 | 3 | 2 | 2 | 2 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 |
| Profit before tax | 8 | 13 | 18 | 11 | 15 | 20 | 21 | 23 | 38 | 42 |
| Tax % | 5 | 24 | 28 | 26 | 20 | 23 | 26 | 24 | 26 | — |
| Net Profit | 8 | 10 | 13 | 8 | 12 | 15 | 15 | 17 | 28 | 32 |
| EPS in Rs | 13.29 | 16.63 | 21.29 | 13.98 | 20.4 | 25.26 | 25.34 | 28.45 | 47.01 | 52.32 |
| Dividend Payout % | 30 | 60 | 47 | 72 | 49 | 396 | 39 | 35 | 21 | — |

### Balance Sheet

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves | 112 | 118 | 125 | 130 | 133 | 139 | 88 | 103 | 113 | 135 |
| Borrowings | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 13 | 8 |
| Other Liabilities | 21 | 16 | 22 | 24 | 26 | 25 | 23 | 25 | 27 | 26 |
| Total Liabilities | 140 | 140 | 155 | 161 | 165 | 170 | 117 | 134 | 159 | 175 |
| Fixed Assets | 22 | 25 | 24 | 26 | 29 | 27 | 28 | 27 | 33 | 41 |
| CWIP | 0 | 0 | 1 | 2 | 0 | 0 | 0 | 0 | 7 | 6 |
| Investments | 45 | 53 | 68 | 65 | 50 | 48 | 4 | 10 | 41 | 41 |
| Other Assets | 73 | 62 | 61 | 69 | 85 | 94 | 85 | 97 | 78 | 87 |
| Total Assets | 140 | 140 | 155 | 161 | 165 | 170 | 117 | 134 | 159 | 175 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 7 | 9 | 12 | 5 | 3 | 2 | 14 | 15 | 17 | 25 |
| Cash from Investing Activity | -2 | -2 | -5 | -4 | 6 | 10 | 44 | -12 | -29 | -13 |
| Cash from Financing Activity | -5 | -3 | -1 | -9 | -7 | -6 | -67 | 0 | 5 | -12 |
| Net Cash Flow | 0 | 4 | 6 | -8 | 2 | 6 | -9 | 2 | -6 | 0 |
| Free Cash Flow | 7 | 4 | 11 | 1 | 0 | 2 | 12 | 13 | 2 | 15 |
| CFO/OP | 246 | 208 | 152 | 58 | 96 | 42 | 101 | 90 | 92 | 79 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 52 | 59 | 56 | 55 | 48 | 36 | 37 | 44 | 48 | 49 |
| Inventory Days | 192 | 144 | 144 | 166 | 166 | 185 | 152 | 161 | 155 | 156 |
| Days Payable | 52 | 40 | 62 | 63 | 62 | 57 | 42 | 50 | 57 | 39 |
| Cash Conversion Cycle | 193 | 163 | 138 | 158 | 152 | 164 | 147 | 155 | 146 | 166 |
| Working Capital Days | 146 | 127 | 95 | 108 | 115 | 119 | 97 | 103 | 88 | 97 |
| ROCE % | 4 | 5 | 7 | 11 | 5 | 10 | 16 | 20 | 20 | 28 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 77.65% | 75% | 75% | 75% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 24.99% | 24.99% | 24.99% | 24.99% | 24.99% | 24.99% | 24.99% | 22.34% | 25% | 25% | 24.99% |
| No. of Shareholders | 2464 | 2514 | 2561 | 2540 | 2722 | 3086 | 8371 | 7515 | 7560 | 7312 | 7723 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 77.65% | 77.65% | 77.65% | 77.65% | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 22.35% | 22.34% | 22.34% | 22.34% | 24.99% | 24.99% | 25% | 25% | 24.99% | 24.99% | 25% | 24.99% |
| No. of Shareholders | 7552 | 7569 | 7515 | 7378 | 7864 | 7547 | 7560 | 7615 | 7809 | 7559 | 7312 | 7723 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 5 / 6 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 464.48 | Sell |
| EMA (10) | 468.75 | Sell |
| SMA (20) | 474.05 | Sell |
| EMA (20) | 474.43 | Sell |
| SMA (50) | 491.28 | Sell |
| EMA (50) | 479.47 | Sell |
| SMA (100) | 470.47 | Sell |
| EMA (100) | 463.37 | Buy |
| SMA (200) | 412.79 | Buy |
| EMA (200) | 431.52 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.24 | Neutral |
| MACD (12,26,9) | -7.48 | Buy |
| Stochastic (14,3,3) | 46.55 | Neutral |
| ADX (14) | 28.07 | Buy |
| Williams %R (14) | -62.25 | Neutral |
| ATR (14) | 14.04 | High Volatility |
| ROC (12) | -2.63 | Sell |
| Stoch RSI (14) | 63.53 | Neutral |
| UO (7,14,28) | 46.34 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 13 Aug - Newspaper Publication of Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June, 2026. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Newspaper Publication of Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June, 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f9f61b06-814d-4624-9bc0-191fb5d93daf.pdf) |
| 12 Aug - Board approved unaudited standalone and consolidated Q1 FY2027 results on 12 August 2026. | [Board Meeting Outcome for Outcomes Of The Board Meeting Held On 12Th August 2026. 12 Aug - Board approved unaudited standalone and consolidated Q1 FY2027 results on 12 August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=94703c6c-dcfe-4520-8b88-1be22ceb1a99.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 21 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=19b4cefc-d958-42bd-b8ed-d317e6760bba.pdf) |
| — | [Shareholder Meeting / Postal Ballot-Outcome of AGM 19 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3e261215-d308-4f94-82fc-f6df556db609.pdf) |
| — | [Un-Audited Financial Results For The Quarter Ended 30Th June 2026. 12 Aug](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9cf6c3c0-786c-4f25-b2ad-b2f333cbd67b.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/637d4da7-1dca-423e-8a1e-77424365e775.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/29b67d33-85b6-4bc2-ae03-e8db06472497.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/17715a3d-114f-43b9-a6f6-114deac16bad.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0170ccc0-c68b-4226-a0bb-646ca4e06272.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/526739/74654526739.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/526739/69846526739.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/526739/68344526739.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/526739/5267390319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/526739/5267390318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/526739/5267390317.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 2026-09-13T19:09:45.401Z.