Narmada Macplast Drip Irrigation Systems Ltd (NARMP)

About

Narmada Macplast Drip Irrigation Systems Ltd operates in Plastic Products - Industrial within the Industrials sector.

Face value: ₹2

Market cap

₹82 Cr

P/E

15.1×

P/B

8.7×

Dividend yield

0.4%

ROE

19.5%

ROCE

26.5%

Debt / equity

0

OPM

17.1%

EPS (TTM)

₹1.5

Book value

₹2.6

52-week high

—

52-week low

—

553 historical price candles were omitted because the exchange source has not been verified.

₹22.6-1.9%1Y

Quick read

rule-based

Pros

+Strong return on equity of 42.3% (3-yr avg)
+High return on capital employed of 50%
+Profit CAGR of 450.7% over the last 3 years
+Almost debt-free (debt/equity 0)

Cons

−Modest revenue growth of 9.9% a year over the last 3 years
−Trading at 8.7× book value
−Low dividend payout of 6.7% of profit
−Low promoter holding of 5.6%

Research score

Structured signal from quality, growth, valuation and momentum.

64/100

Business quality: 67
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Supreme Industries LimitedSUPREMEINDSUPREMEIND	₹42,926 Cr	₹42,926 Cr	₹11,326 Cr	₹1,632 Cr	13.9%	₹1,032 Cr	8.5%	19.1%	16.1%	44
Garware Hi-Tech Films LimitedGRWRHITECHGRWRHITECH	₹16,067 Cr	₹16,067 Cr	₹2,258 Cr	₹497 Cr	20.5%	₹388 Cr	16%	17.6%	13.5%	89
Finolex Industries LimitedFINPIPEFINPIPE	₹9,338 Cr	₹9,775 Cr	₹3,954 Cr	₹692 Cr	16.5%	₹615 Cr	14.6%	12.2%	9.7%	133
Kingfa Science & Technology (India) LimitedKINGFAKINGFA	₹8,958 Cr	₹8,958 Cr	₹2,222 Cr	₹314 Cr	13.1%	₹226 Cr	9.3%	23.6%	17.4%	100
Time Technoplast LimitedTIMETECHNOTIMETECHNO	₹8,869 Cr	₹9,508 Cr	₹6,445 Cr	₹922 Cr	14.6%	₹490 Cr	7.8%	18.2%	13.4%	161
Prince Pipes And Fittings LimitedPRINCEPIPEPRINCEPIPE	₹2,731 Cr	₹2,871 Cr	₹2,627 Cr	₹270 Cr	8.9%	₹102 Cr	2.8%	6.4%	4.5%	71
Apollo Pipes LimitedAPOLLOPIPEAPOLLOPIPE	₹2,255 Cr	₹2,379 Cr	₹1,125 Cr	₹49 Cr	6%	₹-15 Cr	0.4%	2.1%	0.6%	58
Jain Irrigation Systems LimitedJISLJALEQSJISLJALEQS	₹1,951 Cr	₹6,013 Cr	₹6,362 Cr	₹765 Cr	12.5%	₹-53 Cr	-0.6%	7.3%	-0.4%	230
Jai Corp LimitedJAICORPLTDJAICORPLTD	₹1,571 Cr	₹1,571 Cr	₹541 Cr	₹70 Cr	10.6%	₹93 Cr	32.9%	13.1%	11.7%	269
Premier Polyfilm LimitedPREMIERPOLPREMIERPOL	₹949 Cr	₹949 Cr	₹365 Cr	₹50 Cr	13.6%	₹35 Cr	9.4%	31.2%	24.1%	102
R M Drip And Sprinklers Systems LimitedRMDRIPRMDRIP	₹587 Cr	₹640 Cr	₹207 Cr	₹53 Cr	26.6%	₹35 Cr	17.7%	33.6%	31.5%	268
Prakash Pipes LimitedPPLPPL	₹582 Cr	₹621 Cr	₹780 Cr	₹118 Cr	15.1%	₹83 Cr	10.7%	28.6%	20.5%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	6	—	9	4	—	12	10	2	7	13
COGS	—	—	—	-9	-4	—	-12	10	2	6	11
Gross profit	—	—	—	—	—	—	—	0	0	1	3
	0	6	—	17	7	—	25	0	0	0	0
	-0	-0	—	-0	-0	—	-0	-0	-0	1	2
OPM %	-172.7%	-1.9%	—	-2.3%	-9.3%	—	-2.6%	-2.4%	-8.8%	9.6%	17.1%
Depreciation	—	—	—	—	0	0	0	0	0	0	0
Interest	—	—	—	—	0	0	0	0	0	0	0
	—	0	0	0	0	0	0	0	0	6	0
Profit before tax	0	0	0	0	0	-0	0	0	0	6	2
Tax	—	—	—	—	—	—	—	0	0	1	1
Tax %	—	—	—	—	—	—	—	0%	100%	16.5%	26.1%
	0	0	0	0	0	-0	0	0	0	5	2
PAT margin %	90.9%	2.3%	—	0.8%	0%	—	0.1%	0.1%	0%	77.2%	12.6%
EPS (₹)	—	0.6	0.2	0.2	0.1	-0.1	0	—	—	29.8	1.2
EPS adjusted (₹)	—	—	—	—	—	-0	0	0	0	1.5	0.5
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	4	4	4	4	4	7
Reserves	-1	-1	-1	-1	4	2
Minority interest	—	—	—	—	0	—
	0	0	0	1	0	0
	3	3	1	1	1	10
Total equity & liabilities	6	6	3	3	9	19
	0	0	0	0	0	0
CWIP	—	—	0	0	0	—
Investments	1	1	1	1	0	0
	5	5	2	2	9	19
Total assets	6	6	3	3	9	19

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	-0	-1	-0	-5	-0
	-0	0	-1	-0	6	0
	0	-0	3	0	-1	0
Net cash flow	0	0	0	-0	0	-0
Free cash flow	—	—	-2	-0	-6	-0
CFO / Operating profit %	—	—	—	—	-807.5%	-15.4%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	0.1%	5.5%	14.9%	20.1%
EBITDA margin %	-2.3%	-9.3%	—	-2.6%	-2.4%	-8.8%	9.6%	17.1%
EBIT margin %	-2.3%	-9.9%	—	-2.7%	-2.5%	-9.9%	9.5%	17.1%
PAT margin %	0.8%	0%	—	0.1%	0.1%	0%	77.2%	12.6%
Working capital
Receivable days	—	—	—	120	40	278	152	372
Inventory days	—	—	—	—	0	0	0	0
Payable days	—	—	—	97	20	96	1	272
NWC days	—	—	—	—	20	182	150	100
Leverage
Current ratio	—	—	1.14	1.27	2.41	2.74	3.04	1.42
Debt to EBITDA	—	—	—	—	—	—	0	0.02
Debt to equity	—	—	0.15	0.19	0.18	0.26	0	0
Interest coverage	—	2	6	2	1.3	1.7	324.5	—
Asset turnover	—	—	—	2	2.96	0.52	0.79	0.7
Return ratios
Return on assets %	—	—	-0.7%	0.2%	0.3%	0%	61%	8.8%
Return on capital employed %	—	—	5.2%	1.6%	1.5%	1.7%	121.6%	26.5%
Return on equity %	—	—	-1.7%	0.4%	0.4%	0%	69.8%	17.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	45.67%	45.67%	45.67%	45.67%	12.34%	5.58%	5.58%	5.58%	5.58%	5.58%	5.58%	5.58%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	1.34%	1.34%	1.34%	1.34%	1.34%	1.34%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	52.99%	52.99%	52.99%	52.99%	86.32%	93.08%	94.42%	94.42%	94.42%	94.42%	94.42%	94.42%
No. of shareholders	—	—	—	—	—	—	—	—	6,555	8,000	7,669	6,940

Promoter holding down 40.09 percentage points since Sep 2023.

109 deals · 3 Sept 2024 – 17 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Aug 2026	MANJULABEN MAHENDRAKUMAR SHAH	Bulk	BSE	Sell	2,44,106	₹23.56	₹0.58 Cr
13 Aug 2026	CHARTERED LOGISTC LIMITED	Bulk	BSE	Buy	2,00,000	₹22.44	₹0.45 Cr
30 Jun 2026	VIJAY KOTHARI	Bulk	BSE	Buy	6,04,437	₹24.28	₹1.47 Cr
30 Jun 2026	VIJI FINANCE LIMITED	Bulk	BSE	Sell	5,50,000	₹24.28	₹1.34 Cr
6 May 2026	INARAA FINANCIAL SERVICES PRIVATE LIMITED	Bulk	BSE	Sell	2,00,000	₹22.09	₹0.44 Cr
10 Apr 2026	VIJAY KOTHARI	Bulk	BSE	Buy	1,99,000	₹20.24	₹0.40 Cr
10 Apr 2026	VIJAY KOTHARI	Bulk	BSE	Sell	100	₹19.99	₹0.00 Cr
27 Mar 2026	SACHIN GOVINDLAL MODI	Bulk	BSE	Sell	9,13,831	₹15.72	₹1.44 Cr
27 Mar 2026	MANJULABEN MAHENDRAKUMAR SHAH	Bulk	BSE	Buy	5,37,607	₹15.95	₹0.86 Cr
27 Mar 2026	EAST WEST TRADELINK PRIVATE LIMITED	Bulk	BSE	Buy	4,15,914	₹15.77	₹0.66 Cr

1–10 of 109

1 / 11

Vrajlal VaghasiaManaging Director
Abhishek Ashokbhai PatelChief Financial Officer
Jiten Vrajlal VaghsiaWhole-time Director
Daxaben Jitenkumar VaghasiaExecutive Director
Devani KantibhaiNon Executive Independent Director
Vinesh Laljibhai BaldhaNon Executive Independent Director
Mr. Bhavin PatelIndependent Director
Ms. Vidhi Krupal ShahCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Narmada Macplast Drip Irrigation Systems Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

17

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Interim dividend16 May 2025 · ex-date₹0.1

1

Board meeting to consider results14 Aug 2026

1

Face value ₹10 → ₹217 Oct 2025 · ex-date

1–3 of 4

1 / 2

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

13 announcementsExport CSV

30 Sept 2026, 1:06 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

17 Sept 2026, 5:41 pmOthers

Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E., Thursday, 17Th September, 2026

Outcome without intimation PDF

7 Sept 2026, 6:56 pmCompany Update

Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer

Resignation of Company Secretary / Compliance Officer PDF

7 Sept 2026, 6:53 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

5 Sept 2026, 7:51 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

3 Sept 2026, 7:51 pmCorp. Action

Book Closure - 34Th AGM

Book Closure PDF

3 Sept 2026, 7:28 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

3 Sept 2026, 6:57 pmAGM/EGM

Calling Of 34Th Annual General Meeting (''AGM'') Of The Company On 30Th September, 2026, Wednesday, At 12:30 P.M. Through Video Conference (VC'') / Other Audio Visual Means (OAVM)

AGM PDF

Date	Category	Subject	Filing
30 Sept 2026, 1:06 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
17 Sept 2026, 5:41 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E., Thursday, 17Th September, 2026

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Narmada Macplast Drip Irrigation Systems Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

1

1

Announcements

1

1

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Narmada Macplast Drip Irrigation Systems Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends1

Board meetings1

Stock splits1

Announcements

Dividends1

Board meetings1

Stock splits1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1

1

1

1

1