Nirman Agri Genetics Ltd. (NIRMAN)
SME CapConsumer stocks · SME cap · NSE
Nirman Agri Genetics Limited (NAGL) is an organized Agri-Input Company in India, engaged in production, processing, and marketing of high-quality hybrid seeds, pesticides, bio-organic products, micronutrients, and bio products. It focuses on developing superior yield potential, drought tolerance, and pest/disease resistance in seeds.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Investable fundamentals, management trust needs verification, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Bad · 0/100PAT -50% YoY · margin compression · Rev +28% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹50 Cr | +28.2% | -65.8% |
| EBITDA | ₹4 Cr | -73.3% | -73.3% |
| Operating margin | 7.0% | -500 bps | -300 bps |
| PAT | ₹3 Cr | -50.0% | -80.0% |
| PAT margin | 6.0% | -529 bps | -427 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Nirman Agri Genetics reports exceptional Q3 FY25 results with Total Income surging 223.26% YoY to ₹6107.20 Lacs, driven by strong market demand. EBITDA increased 124.71% and Net Profit rose 114% YoY, reflecting effective sales and operational efficiency.
The company delivered robust financial performance in Q3 and 9M FY25, demonstrating significant YoY growth in revenue and profitability. This strong showing is attributed to effective sales strategies and market demand, supported by new processing capacity and favorable government policies for the agriculture sector.
High-Yielding Hybrid Seeds
Developing high-yielding and resilient hybrid seeds is a core strategy to produce significantly more output per unit of land compared to traditional varieties.
Integrated Crop Solutions
The company aims to be a leading provider of crop solutions, moving beyond seed production to offer integrated offerings like micronutrients, bioproducts, and crop management tools.
Market Expansion & Penetration
Nirman seeks to increase its market reach geographically by expanding distribution networks within India and potentially exploring international markets.
Technology Adoption
The company embraces digital technologies such as precision agriculture, data analytics, and digital platforms to connect with farmers and offer customized solutions.
New Processing Plant Commissioned
Nirman Agri Genetics Ltd has successfully set up a new high-end processing plant with a capacity of 10 tons per hour.
Enhanced Production Capacity
This strategic expansion aims to boost margins and revenues by enhancing production and processing capacity across all product lines.
Growing Global Demand for Food
With a rising global population and changing dietary habits, the demand for food is consistently increasing, creating a strong and stable market for agricultural products.
Government Initiatives & Budget Support
The Union Budget 2025-26 emphasizes regenerative agriculture, inclusive growth, and enhanced access to agricultural credit, with schemes like PM Dhan-Dhaanya Krishi Yojana.
Technological Advancements in Agriculture
The agriculture sector is undergoing a significant technological transformation and product improvements, including innovations in biotechnology.
Increased Agricultural Exports
India's agricultural exports reached $53.1 Bn in FY22-23, with 18 out of 23 principal commodities in APEDA's export basket showing positive growth during April–December 2023.
Reliance on Forward-Looking Statements
Actual results may differ materially from forward-looking statements due to future changes in business, competitive environment, and the ability to implement strategies and initiatives.
Market & Regulatory Environment Changes
Future developments in the competitive and regulatory environment, and political, economic, regulatory, and social conditions in India can impact actual results.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The investor presentation explicitly provides financial comparisons for Q3 FY25 versus Q3 FY24, and 9M FY25 versus 9M FY24, highlighting significant year-on-year growth percentages for key metrics. No sequential quarterly data is provided.
Capacity Enhancement
A new high-end processing plant with a capacity of 10 tons per hour has been successfully set up, enhancing production and processing capacity across all product lines.
Market Reach Expansion
Market expansion is a key objective, seeking to increase market reach geographically by expanding distribution networks within India and potentially exploring international markets.
Productivity Improvement
High-yielding, disease-resistant, drought-tolerant hybrid seed varieties are offered to help farmers achieve better yields and higher-quality produce.
Sustainable Practices Adoption
The company promotes sustainable farming practices like conservation tillage, crop rotation, and integrated pest management to improve soil health and reduce water usage.
Confidence in Positive Momentum
Mr. Pranav Bagal, Managing Director, states, 'We are confident in our ability to continue this positive momentum.'
Commitment to Operational Efficiency
Management highlights that improvements in EBITDA and Net Profit demonstrate their commitment to operational efficiency and maximizing shareholder value.
Empowering Farmers
The company's mission is to empower farmers, making their journey easier and more rewarding by providing tools and guidance.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | ₹6107.20 Lacs (Q3 FY25) | Sustained high growth rates in total income, indicating continued market penetration and demand for integrated crop solutions. |
| Net Profit Growth | ₹673.02 Lacs (Q3 FY25) | Monitoring net profit margins for efficiency gains and effective cost management as operations scale with new capacity. |
| Capacity Utilization | 10 tons per hour (new plant capacity) | Tracking the ramp-up and utilization rates of the new processing plant to ensure efficient capital deployment and production optimization. |
| Impact of Government Schemes | PM Dhan-Dhaanya Krishi Yojana | Assessing the tangible benefits and increased demand generated from government initiatives in targeted agricultural districts. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
32Bearishfull bear SMA stack · SMA20 -21.9% / mo · MACD + · near 52W low
Technical chart
NIRMANdaily · 1Y · AUTO-42.4%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 32. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~28.1% over last month) — short-term momentum negative.
- RSI(14) at 32 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 62 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 62 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
UNDERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Fair-value margin of safety is positive at 96.3%.
- Valuation contributes 30/30 to the score.
- Growth contributes 21/25 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Quality is weaker at 7/20; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 16th percentile of the scored universe and 18th percentile within Consumer. Main check: cash conversion is weak at 28/100.
Mixed Trust Lite: Promoter pledge is zero. Key concern: Promoter holding fell 12%.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Consumer: 18th pctile, median 66 · SME: 16th pctile, median 64
8 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.00.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸3/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Promoter holding fell 12%.
- ▸Operating cash flow is negative at ₹-24 Cr.
- ▸Promoter holding is only 15%.
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 1.32
- P/B
- 0.18
- EV/EBITDA
- 1.17
- Market Cap
- 23.30Cr
Profitability
- ROE
- 14.80%
- ROCE
- 15.20%
- ROA
- 13.95%
- Dividend Y
- 6.88%
Growth (CAGR)
- Revenue 5Y
- 120.00%
- EPS 5Y
- 223.00%
- Revenue 3Y
- 90.00%
- EPS 3Y
- 64.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 9.67
- Book Value
- 159.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -24.00 Cr
- EPS TTM
- 21.99
Shareholding
- Promoter Hold
- 15.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 0%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Consumer, ranked by similarity
Peers
Business-comparable names in Consumer, ranked by similarity
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.