Narmada Agrobase Limited, a penny stock involved in the production of cotton seed meal cake, cattle feeds, and more, saw a 5 percent increase in its share price following the announcement of its Q4FY24 results, which showed a significant 523 percent rise in Net Profits.
The company, with a market capitalization of Rs. 30 Crores, experienced a surge in its share price to Rs. 22.15, up from the previous day’s closing price of Rs. 21.10.
In terms of revenue, Narmada Agrobase reported a YoY growth of 2.62 percent, reaching Rs. 18.74 Crores in Q4FY24 compared to Rs. 18.26 Crores in Q4FY23. Additionally, the company’s revenue increased by 53.48 percent QoQ, from Rs. 12.21 Crores in Q3FY24 to Rs. 18.74 Crores in Q4FY24. On an annual basis, the company generated revenues of Rs. 50.02 Crores in FY23 and Rs. 50.32 Crores in FY24, representing a YoY growth of 0.59 percent.
Furthermore, the Net Profit of Narmada Agrobase witnessed a remarkable 523 percent increase from Rs. 9.79 Lakhs in Q4FY23 to Rs. 61.02 Lakhs in Q4FY24. On a QoQ basis, the Net Profit grew by 375 percent, from Rs. 12.84 Lakhs in Q3FY24 to Rs. 61.02 Lakhs in Q4FY24. Annually, the company reported a profit of Rs. 65.22 Lakhs in FY23 and Rs. 1.01 Crores in FY24, indicating a YoY growth of 56.30 percent.
Narmada Agrobase Limited specializes in delinted cotton seed and cattle feeds, manufacturing and processing products such as Cotton Seeds Meal, Maize Oil Cake, Compound Cattle Feed, Poultry Feed, and more. The company has reported a return on equity (ROE) of 4.18 percent, a return on capital employed (ROCE) of 6.87 percent, and a debt-to-equity ratio of 0.64.
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