NIRMAN
Nirman Agri financials
- Market cap
- ₹22 Cr
- Sector
- Fast Moving Consumer Goods
What Nirman Agri does
Nirman Agri Genetics Limited is an organized agri-input company engaged in the production, processing and marketing of high-quality hybrid seeds, non-hybrid seeds, pesticides, bio-organic products and micronutrients, all marketed under its own brand name. It runs its own seed production and processing facilities in Maharashtra and recently commissioned a new high-end processing plant to expand production and processing capacity across its product lines. The company reaches farmers through direct sales and dealer networks, and supports adoption of its products through farmer training workshops, field demonstrations and seed trial programs.
Segments
- Seeds
- Pesticides
- Fertilizers & bio-products
- Processing plant capacity
- 10 tonnes/hour (new high-end plant)
- Production facilities
- Own seed production & processing units in Maharashtra
- Product categories
- Seeds (hybrid & non-hybrid), pesticides, bio-fertilizers/micronutrients, bio-organic products
Quarterly results
Q4 FY26: revenue down 55.4%, net profit down 72.7% against the same quarter last year.
| Line item | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19 | 39 | 50 | 112 | 61 +223% | 124 +218% | 146 +190% | 50 −55% |
| EBITDA | 3 | 7 | 5 | 12 | 7 +125% | 15 +114% | 15 +184% | 4 −67% |
| Net profit | 3 | 6 | 5 | 11 | 7 +114% | 14 +133% | 15 +198% | 3 −73% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −81.5% 1Y
1Y: ₹149 on 10 Sept 2025 → ₹27.55. High ₹231 (23 Sept 2025), low ₹27.3 (8 Sept 2026).
Financials, as filed
Revenue grew 273.9% a year over 1 year, FY24 to FY25. Operating margin narrowed to 11.4%.
| Year ending | FY24 | FY25 |
|---|---|---|
| Revenue | ₹93 Cr | ₹347 Cr |
| Operating profit | ₹16 Cr | ₹40 Cr |
| Operating margin | 17.5% | 11.4% |
| Interest | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹1 Cr |
| Net profit | ₹15 Cr | ₹37 Cr |
| Net margin | 16.1% | 10.6% |
| Cash from operations | ₹4 Cr | ₹-32 Cr |
| Free cash flow | ₹4 Cr | ₹-33 Cr |
| ROCE | 34.0% | 35.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹6 Cr | ₹6 Cr | ₹8 Cr | ₹8 Cr |
| Reserves | ₹0 Cr | ₹3 Cr | ₹21 Cr | ₹31 Cr | ₹117 Cr | ₹120 Cr |
| Borrowings | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹1 Cr | ₹2 Cr | ₹2 Cr | ₹6 Cr | ₹2 Cr | ₹2 Cr |
| Total liabilities | ₹2 Cr | ₹6 Cr | ₹30 Cr | ₹44 Cr | ₹127 Cr | ₹129 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹2 Cr | ₹6 Cr | ₹29 Cr | ₹44 Cr | ₹125 Cr | ₹128 Cr |
| Total assets | ₹2 Cr | ₹6 Cr | ₹30 Cr | ₹44 Cr | ₹127 Cr | ₹129 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, the public added +13.65 pp while promoters trimmed −13.62 pp. The shareholder count grew 45% to 4,212.
- Promoters
- 44.3%
- FIIs
- 0.0%
- Public
- 55.6%
Since Mar 2025
- Public +13.65 pp
- Promoters −13.62 pp
- FIIs −0.02 pp
How it drifted, 8 quarters
Over this window promoters fell from 65.6% to 44.3% — −21.3 pp.
Ownership split by quarter, oldest first. Mar '23: Promoters 65.6%, Public 34.4%.Sep '23: Promoters 66.0%, Public 34.0%.Dec '23: Promoters 66.0%, Public 34.0%.Mar '24: Promoters 66.0%, Public 34.0%.Sep '24: Promoters 57.8%, FIIs 0.0%, Public 42.2%.Mar '25: Promoters 58.0%, FIIs 0.0%, Public 42.0%.Sep '25: Promoters 44.3%, FIIs 0.0%, DIIs 1.3%, Public 54.3%.Mar '26: Promoters 44.3%, FIIs 0.0%, Public 55.6%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Lukman Munavar Patel newly disclosed 2.13% held
- Ramakrishna Rao Pillala . newly disclosed 1.79% held
- Sourish Nath +0.73 pp 1.89% held
- Arpita Nath +0.54 pp 1.55% held
The same filing shows 0 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Nirman Agri above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Pranav Kailas Bagal | 44.33% | unchanged |
| Lukman Munavar Patel | 2.13% | newly disclosed |
| Sourish Nath | 1.89% | +0.73 pp |
| Ramakrishna Rao Pillala . | 1.79% | newly disclosed |
| Arpita Nath | 1.55% | +0.54 pp |
| Rajashri Avinash Bagal | 0.00% | unchanged |
| Tushar Avinash Bagal | 0.00% | unchanged |
| Bagal Avinash Bhimrao | 0.00% | unchanged |
| Kailash Bhimrao Bagal | 0.00% | unchanged |
| Sayali Shashikant Dhatrak | — | off the list |
| Seema Rani | — | off the list |
| First Among Equals Unclassified | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveInsufficient data to quantify the expectations gap.
- Growth the price implies
- A decline
- for 7 years, fading to 4%
- It has actually compounded at
- 146.0% a year
- net profit, FY24–FY25 · EPS 139.9%
- The gap
- —
- 540581% downside if it only repeats history
Learn to analyse Nirman Agri
Guides on how to read this kind of business and the numbers that matter.