Narmada Gelatines Reports Strong Q3FY26 Performance with 72.90% Jump in Net Profit
Narmada Gelatines Limited reported exceptional Q3FY26 results with net profit surging 72.90% to ₹740 lakhs and revenue growing 18.14% to ₹5,673 lakhs year-on-year. Nine-month performance showed net profit increasing 55.74% to ₹1,886 lakhs while revenue rose 10.46% to ₹15,371 lakhs. The gelatin manufacturer demonstrated strong operational efficiency with improved cost management and enhanced earnings per share of ₹12.23 for the quarter.

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Narmada Gelatines Limited has delivered impressive financial performance for the third quarter of FY26, showcasing significant growth across key financial metrics. The gelatin and ossein manufacturer reported substantial improvements in profitability and revenue generation during the quarter ended December 31, 2025.
Strong Quarterly Performance
The company's Q3FY26 results demonstrate robust operational efficiency and market demand strength. Net profit witnessed remarkable growth, while revenue from operations showed consistent upward trajectory compared to the corresponding period last year.
| Financial Metric: | Q3FY26 | Q3FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations: | ₹5,673 lakhs | ₹4,802 lakhs | +18.14% |
| Net Profit: | ₹740 lakhs | ₹428 lakhs | +72.90% |
| Total Income: | ₹5,678 lakhs | ₹4,831 lakhs | +17.53% |
| Earnings Per Share: | ₹12.23 | ₹7.07 | +72.98% |
Nine-Month Period Results
The nine-month performance further reinforces the company's strong operational momentum. Revenue growth remained consistent while profitability margins expanded significantly across the period.
| Parameter: | 9M FY26 | 9M FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations: | ₹15,371 lakhs | ₹13,915 lakhs | +10.46% |
| Net Profit: | ₹1,886 lakhs | ₹1,211 lakhs | +55.74% |
| Total Income: | ₹15,435 lakhs | ₹14,077 lakhs | +9.65% |
| Earnings Per Share: | ₹31.18 | ₹20.01 | +55.82% |
Operational Efficiency and Cost Management
The company demonstrated effective cost management across various expense categories. Cost of materials consumed decreased to ₹3,013 lakhs in Q3FY26 from ₹3,126 lakhs in Q3FY25. Employee benefits expense increased to ₹594 lakhs from ₹402 lakhs, reflecting workforce expansion and enhanced compensation structures. Finance costs declined significantly to ₹29 lakhs from ₹55 lakhs, indicating improved financial management.
Regulatory Compliance and Corporate Governance
The financial results received approval from the Board of Directors at their meeting held on February 12, 2026. The unaudited standalone and consolidated financial results were reviewed and recommended by the Audit Committee. Statutory auditors LODHA & CO LLP conducted the limited review as required under Regulation 33 of SEBI Listing Regulations.
Business Segment and Associate Company
Narmada Gelatines operates in the manufacture and sale of ossein and gelatin, treating these as a single reportable segment under Ind AS 108 requirements. The consolidated results include proportionate share of profit from India Gelatine and Chemicals Limited, which became an associate company effective December 5, 2024. The associate contributed ₹100 lakhs and ₹291 lakhs to quarterly and nine-month profits respectively.
Labour Code Implementation Impact
The company recognized an incremental liability of ₹82.56 lakhs towards employee benefits following the implementation of consolidated Labour Codes by the Government of India effective November 21, 2025. This amount was accounted for as employee benefits expense in the nine-month period results, demonstrating proactive compliance with regulatory changes.
Historical Stock Returns for Narmada Gelatines
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.77% | +7.82% | +7.00% | +13.48% | +21.29% | +143.61% |



























