Nath Bio-Genes (India) Limited (NATHBIOGEN)
₹137.68 -0.01% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Nath Bio-Genes' revenue was ₹328 Cr (+15.6% year on year, +535.8% on the previous quarter), and net profit ₹32.0 Cr (-14.2% year on year); the operating margin was 10.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹328 | +15.6% | +535.8% |
| Operating profit | ₹35.0 | -8.6% | +681.2% |
| Net profit | ₹32.0 | -14.2% | from loss |
| EPS (₹) | 16.98 | -13.3% | from loss |
| Operating margin | 10.7% | — | — |
NATHBIOGEN delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 44.56% of the NATHBIOGEN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 75.74%. That is lower than usual for this stock. Turnover was only ₹8 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 61.8% · 62.0% · 59.0% · 59.8% · 44.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Nath Bio-Genes concluded its 33rd Annual General Meeting on September 24, 2026, passing all five proposed resolutions with the requisite majority. Shareholders approved the FY26 audited accounts and a final dividend of ₹2 per equity share of face value ₹10. Additionally, resolutions regarding the reappointment of Mrs. Jeevanlata Kagliwal, the reappointment of Independent Director Mr. Hitesh Purohit for a five-year term starting March 2027, and a revision in MD Mr. Satish Kagliwal's remuneration were approved.
- Declared final dividend of ₹2 per equity share (face value ₹10) for FY26
- All 5 resolutions passed with requisite majority at the 33rd AGM on September 24, 2026
- Re-appointment of Independent Director Mr. Hitesh Purohit approved for 5 years (March 30, 2027 to March 29, 2032)
- Revision in remuneration of Managing Director Mr. Satish Laxminarayan Kagliwal approved
- Meeting conducted via video conference with 48 shareholders attending (16 promoter group, 32 public)
Nath Bio-Genes (India) Limited has scheduled its 33rd Annual General Meeting (AGM) for Thursday, September 24, 2026, at 11:00 AM IST via Video Conferencing/OAVM. The company fixed Friday, September 11, 2026, as the cut-off date to determine shareholder eligibility for voting at the AGM. This is a standard procedural compliance filing under Regulation 42 of SEBI LODR Regulations.
- 33rd Annual General Meeting scheduled for September 24, 2026, at 11:00 AM
- Cut-off date fixed as September 11, 2026, to determine shareholder voting eligibility
- Meeting to be conducted virtually through Video Conferencing/OAVM
Nath Bio-Genes has issued the notice for its 33rd Annual General Meeting (AGM) scheduled for September 24, 2026, via video conferencing. Key ordinary and special resolutions include the adoption of FY26 financials, declaration of a final dividend of ₹2 per share (face value ₹10), and the revision of Managing Director Satish Kagliwal's remuneration from ₹66 lakh to ₹1.44 crore per annum. The cut-off date for remote e-voting eligibility is September 11, 2026, with voting open from September 21 to September 23, 2026.
- 33rd AGM scheduled for September 24, 2026, via Video Conferencing/OAVM.
- Proposed final dividend of ₹2 per equity share of face value ₹10 for FY26.
- Proposed hike in Managing Director Satish Kagliwal's salary to ₹1,44,00,000 per annum from ₹66,00,000 per annum effective January 1, 2026.
- Voting cut-off date is September 11, 2026, with remote e-voting running from September 21 to September 23, 2026.
SEBI has appointed CNK & Associates LLP to conduct a forensic audit of Nath Bio-Genes (India) Limited, covering the period from FY 2020-21 to FY 2025-26. The audit will examine books of account and records based on specific matters identified by the regulator. With a market cap of ₹311 Cr and TTM revenue of ₹445 Cr, the company is currently trading at a low P/E of 7.5. The company has stated it is extending full cooperation to the auditors, though the specific triggers for the audit remain undisclosed.
- Forensic audit covers a 6-year period from FY 2020-21 to FY 2025-26
- SEBI appointed CNK & Associates LLP as the Forensic Auditor via communication dated August 5, 2026
- Company reports TTM revenue of ₹445 Cr and TTM PAT of ₹42 Cr as of the latest period
- Audit will examine books of account and records for the specified financial years
Nath Bio-Genes reported a strong Q1 FY27 with revenue growing 15% YoY to ₹322.8 Cr, driven by significant gains in Maize and Paddy segments. EBITDA increased 17% to ₹35.1 Cr, maintaining an 11% margin despite a 31% surge in finance costs. The Maize segment was a standout performer with 59% value growth, while Paddy value grew 34% due to premium product contributions. This quarter is highly material, representing approximately 72.5% of the company's TTM revenue, highlighting the business's extreme seasonality.
- Q1 FY27 Revenue reached ₹322.8 Cr, up 15% from ₹280.2 Cr in Q1 FY26.
- Maize segment recorded 44% volume growth and 59% value growth YoY.
- Paddy segment registered 19% volume growth and 34% value growth YoY.
- EBITDA grew 17% YoY to ₹35.1 Cr, outpacing revenue growth.
- Finance costs increased by 31% YoY to ₹3.8 Cr.
Nath Bio-Genes reported a strong start to FY27 with standalone revenue growing 15.2% YoY to ₹322.84 Cr for the June quarter. Net profit increased by 11.8% to ₹32.66 Cr, resulting in an EPS of ₹17.18 compared to ₹15.37 in the previous year. This quarter is seasonally the most significant for the company, contributing approximately 72.5% of its TTM revenue. Despite a rise in finance costs to ₹3.79 Cr, the company maintained steady operational margins.
- Revenue from operations grew to ₹322.84 Cr from ₹280.17 Cr in the same quarter last year.
- Net profit for the quarter stood at ₹32.66 Cr, up from ₹29.21 Cr YoY.
- Selling and Distribution expenses increased to ₹107.97 Cr, reflecting peak seasonal marketing activity.
- Finance costs rose by 31% YoY to ₹3.79 Cr from ₹2.89 Cr.
- The 33rd Annual General Meeting (AGM) is scheduled for September 24, 2026.
Nath Bio-Genes (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by Bigshare Services Pvt. Ltd., confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and confirmed to depositories. It further verifies that the certificates were mutilated and cancelled, and the depository names were updated in the register of members. This is a standard administrative filing with no impact on business fundamentals.
- Compliance certificate submitted for the quarter ended June 30, 2026
- Confirmation that dematerialization requests were processed within 15 days of receipt
- Verification that security certificates were mutilated and cancelled after due verification
- Registrar and Share Transfer Agent (RTA) confirmed as Bigshare Services Pvt. Ltd.
Nath Bio-Genes (India) Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of unaudited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the financial results are officially released. The specific date for the board meeting to approve these results will be communicated separately.
- Trading window closure begins on July 1, 2026, for the Q1 FY27 reporting period.
- The closure applies to all securities of the company for designated insiders and their relatives.
- Window will reopen 48 hours after the announcement of unaudited financial results for the quarter ending June 30, 2026.
- The filing is a standard regulatory requirement under SEBI Insider Trading regulations.
Nath Bio-Genes (India) Limited has submitted the annual disclosure from its promoters under Regulation 31(4) of the SEBI (SAST) Regulations, 2011. The filing confirms that the 17 listed promoters and promoter group entities have not made any undisclosed encumbrances on their shareholding during the financial year ended March 31, 2026. This is a standard annual compliance requirement intended to ensure transparency regarding promoter share pledges and encumbrances.
- Annual disclosure submitted under Regulation 31(4) of SEBI (SAST) Regulations, 2011 for the year ended March 31, 2026.
- Declaration involves 17 promoter and promoter group entities, including individuals and private limited companies.
- Confirms that no undisclosed pledges or encumbrances were made by the promoter group during the financial year.
- Key promoters listed include Nandkishor Laxminarayan Kagliwal and Jeevanlata Nandkishor Kagliwal.
Nath Bio-Genes (India) Limited has officially released the audio recording of its investor conference call held on May 5, 2026. The call was dedicated to discussing the company's audited financial results for the fourth quarter and the full financial year ending March 31, 2026. This disclosure is a standard regulatory requirement under SEBI Listing Obligations. The recording provides a platform for investors to hear management's perspective on the year's performance and future guidance.
- Conference call conducted on May 5, 2026, at 4:00 PM IST.
- Discussion focused on audited financial results for Q4 and FY ended March 31, 2026.
- Audio recording made accessible to the public via the company's official website link.
- Submission made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Nath Bio-Genes (India) Limited has officially released the audio recording of its earnings conference call held on May 5, 2026. The call focused on the company's audited financial results for the fourth quarter and the full financial year ended March 31, 2026. This disclosure is a routine compliance requirement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Investors can access the recording on the company's website to understand management's commentary on the annual performance.
- Audio recording of the conference call held on May 5, 2026, at 4:00 PM is now available.
- The discussion covered audited financial results for the quarter and year ended March 31, 2026.
- Submission made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
- The recording is accessible via a direct link on the company's official website.
Nath Bio-Genes reported a strong 19% YoY revenue growth for FY26, reaching ₹4,316 million, driven by robust performance in Cotton (+28% value) and Maize (+78% value). However, profitability was under pressure as EBITDA remained flat at ₹525 million and Gross Margins compressed from 63% to 56%. A key highlight is the international expansion milestone, with Uzbekistan contributing ₹150 million to the top line for the first time. Despite the revenue jump, PAT (adjusted) declined by 8% YoY to ₹384 million.
- Revenue increased by 19% YoY to ₹4,316 Mn, while EBITDA remained stagnant at ₹525 Mn.
- Cotton Bt volumes grew 22.35% with average realization rising to ₹293/kg.
- Gross Margin saw a significant contraction to 56% in FY26 from 63% in the previous year.
- International operations in Uzbekistan achieved a landmark ₹150 Mn revenue contribution.
- Net Debt increased significantly to ₹510 Mn from ₹235 Mn in FY25.
Nath Bio-Genes (India) Limited reported a 19.1% growth in annual revenue for FY26, reaching ₹431.60 crore compared to ₹362.31 crore in FY25. Annual net profit saw a modest increase of 5.4% to ₹44.43 crore, despite a weaker fourth quarter where profit dipped to ₹3.79 crore. The Board has recommended a dividend of ₹2 per share (20% of face value). A significant management update includes the more than doubling of the Managing Director's remuneration to ₹1.44 crore per annum.
- Annual Revenue from operations grew 19.1% YoY to ₹431.60 crore from ₹362.31 crore.
- Full-year Net Profit increased to ₹44.43 crore compared to ₹42.14 crore in the previous fiscal.
- Recommended a final dividend of ₹2.00 per equity share (20%) for FY 2025-26.
- Managing Director's annual remuneration increased by 118% from ₹66 lakhs to ₹1.44 crore.
- Inventory levels rose significantly to ₹444.60 crore from ₹330.71 crore YoY, indicating aggressive positioning for the next season.
Nath Bio-Genes (India) Limited has scheduled its earnings conference call for Tuesday, May 5, 2026, at 4:00 PM IST to discuss the financial results for the fourth quarter and full year ending March 31, 2026. The call will feature top management, including the Managing Director and CFO, providing insights into the company's annual performance. Investors can access the call via universal dial-in numbers 086 3416 8887 or 086 4536 7331. This session is critical for understanding the company's growth trajectory following the conclusion of the 2025-26 fiscal year.
- Earnings conference call scheduled for May 5, 2026, at 16:00 IST.
- The call will cover financial results for Q4 and the full fiscal year FY26.
- Key participants include Managing Director Satish Kagliwal and CFO Amol Gupta.
- Universal dial-in numbers provided are 086 3416 8887 and 086 4536 7331.
- The session is hosted by Go India Advisors with pre-registration available via Diamond Pass.
Nath Bio-Genes (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Bigshare Services Pvt. Ltd., confirms that all securities received for dematerialization during the quarter ended March 31, 2026, were processed correctly. The registrar verified that share certificates were mutilated and cancelled, and the name of the depositories was updated in the register of members within the required 15-day period. This is a standard regulatory filing ensuring the integrity of the company's shareholding records.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Registrar Bigshare Services Pvt. Ltd. confirmed all dematerialization requests were handled as per SEBI norms.
- Security certificates were mutilated and cancelled after verification by the Depository Participant.
- Register of members updated within 15 days of receipt of certificates for dematerialization.
Financial Performance
Revenue Growth by Segment
Total revenue grew 9% YoY to INR 362.3 Cr (₹3,623 million) in FY25. The Non-Cotton, Non-Paddy (NCP) portfolio increased its revenue contribution from 43% to 48%. Specific segment growth included Maize at 47% YoY and Wheat at 24% YoY. Paddy and Cotton remain core drivers, though volume growth in these segments was more modest at 4.21% while value increased 15.73% due to premiumization.
Geographic Revenue Split
The company primarily operates in the domestic Indian market with a footprint across 131 regions. International expansion is active in Uzbekistan through a joint venture, Nath Bio-Genes (Central Asia) LLC, with further outreach into Asia, Africa, and the Middle East to establish a global supplier presence.
Profitability Margins
Gross margins expanded to 63% in FY25, up from previous levels, driven by a 15.73% increase in product value realization. Net Profit Margin (PAT) stood at 11% for FY25. Operating margins are a key sensitivity factor, with an upward rating trigger if sustained above 16% and a downward trigger if they drop below 12%.
EBITDA Margin
EBITDA margin moderated slightly to 14% in FY25 from 15% in the previous year. EBITDA stood at INR 52.3 Cr (₹523 million), representing a 4% YoY increase, reflecting higher operational costs despite strong gross profit growth.
Capital Expenditure
The company maintains a comfortable financial risk profile in the absence of any major debt-funded capital expenditure (capex). Growth is primarily funded through high accretion to reserves and internal accruals, with net worth standing at INR 601 Cr.
Credit Rating & Borrowing
CRISIL maintains a 'Stable' outlook. Borrowing costs are characterized by low reliance on external debt, with minimal yearly debt obligations of INR 1-1.5 Cr. However, bank limit utilization was high at over 80% for the 12 months through August 2024.
Operational Drivers
Raw Materials
The primary inputs include germplasm for seed development, foundation seeds, and chemicals for plant nutrition products. Specific seed varieties include Paddy, Cotton, Maize, Wheat, Mustard, Bajra, Jowar, and Vegetables.
Import Sources
Sourcing is primarily domestic within India, supplemented by germplasm for 'seed tolerance' developed in collaboration with international research institutes to enhance crop resilience.
Key Suppliers
Not specifically named in the documents; however, the company maintains relationships with a network of seed growers and international research institutes for germplasm procurement.
Capacity Expansion
The company focuses on R&D and distribution rather than heavy industrial manufacturing capacity. It conducts over 200,000 quality tests annually and maintains a distribution network of 20,000+ dealers and 131 regional footprints.
Raw Material Costs
Gross profit of INR 228.9 Cr on revenue of INR 362.3 Cr implies direct production/raw material costs of approximately 37% of revenue. Procurement strategies focus on decentralized presence to ensure seed viability and faster distribution.
Manufacturing Efficiency
Efficiency is driven by R&D capabilities and a 'dream-product basket' strategy. Core business operations improved by 13.3% YoY, reflecting better operational handling of external headwinds in the cotton sector.
Logistics & Distribution
Distribution is handled through a massive network of 20,000+ distributors and dealers, which is central to maintaining a resilient supply chain.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth will be achieved through a 15% upward revenue target in FY26 by focusing on high-margin segments like vegetables, maize, and hybrid paddy. The strategy includes scaling R&D, leveraging international success in Uzbekistan, and expanding the 'Non-Cotton, Non-Paddy' (NCP) portfolio which already grew to 48% of revenue.
Products & Services
Hybrid seeds for Cotton, Paddy, Wheat, Maize, Mustard, Bajra, Jowar, and Vegetables, along with Plant Nutrition products.
Brand Portfolio
Nath
New Products/Services
Continuous investment in R&D for 'dream-product' baskets and germplasm for seed tolerance. New product additions are expected to aid steady revenue growth over the medium term.
Market Expansion
Targeting international markets in Asia, Africa, and the Middle East, building on the established joint venture in Uzbekistan.
Market Share & Ranking
Not disclosed as a specific percentage, but the company is noted for 'cotton leadership' and an 'established market presence' over three decades.
Strategic Alliances
Joint Venture: Nath Bio-Genes (Central Asia) LLC in Uzbekistan. Collaboration with international research institutes for germplasm development.
External Factors
Industry Trends
The industry is shifting toward seed traceability, higher germination standards, and genetic purity enforcement. The market is growing due to government focus on integrated nutrient management and soil health.
Competitive Landscape
Intense competition from both domestic and foreign players in the hybrid seed space.
Competitive Moat
Sustainable moat built on 30+ years of promoter experience, a massive 20,000+ dealer distribution network, and strong R&D capabilities that allow for continuous product diversification.
Macro Economic Sensitivity
Highly sensitive to agricultural GDP and monsoon performance. Favorable government focus on soil health and farmer productivity supports long-term growth.
Consumer Behavior
Farmers are shifting toward premium, high-yield, and stress-tolerant seed varieties, evidenced by the company's 15.73% value growth.
Geopolitical Risks
Trade barriers or regulatory shifts in international markets like Uzbekistan, Asia, and Africa could impact the expansion strategy.
Regulatory & Governance
Industry Regulations
Subject to seed traceability norms, germination standards, and genetic purity enforcement by agricultural regulators. Changes in government regulations regarding hybrid seeds are a key risk factor.
Environmental Compliance
Focus on integrated nutrient management and soil health products to align with government environmental productivity goals.
Taxation Policy Impact
Not specifically detailed, but the company follows standard Indian corporate tax norms.
Legal Contingencies
The company has a significant contingent liability in the form of a corporate guarantee worth INR 43.6 Cr (with current outstanding less than INR 15 Cr) for Paithan Mega Food Park Pvt Ltd (PMFPPL). Invocation of this guarantee is a downward rating sensitivity factor.
Risk Analysis
Key Uncertainties
Monsoon dependency (high impact), regulatory changes in seed norms (moderate impact), and potential invocation of the INR 43.6 Cr corporate guarantee (high impact).
Geographic Concentration Risk
Concentrated in India (131 regions) with emerging exposure in Uzbekistan.
Third Party Dependencies
Dependency on a network of 20,000+ distributors for market reach and international institutes for germplasm.
Technology Obsolescence Risk
Risk of competitors developing superior biotech/hybrid traits; mitigated by 200,000+ annual quality tests and continuous R&D.
Credit & Counterparty Risk
Receivable control is described as 'tight,' but the large working capital requirement and inventory levels (Sept 2024 cash at INR 2.07 Cr) remain a liquidity monitorable.
