Narmada Macplast Drip Irrigation Systems Ltd. (NARMP) — Tipsheet https://tipsheet.markets/company/narmp/ Every Tipsheet Editorial note covering Narmada Macplast Drip Irrigation Systems Ltd. (NARMP), newest first. Grounded in BSE/NSE primary-source filings. en-in Tue, 28 Jul 2026 14:38:35 GMT Narmada Macplast revenue jumps to ₹13.31 cr as profits dip https://tipsheet.markets/narmp-narmada-macplast-revenue-jumps-to-13-31-cr-as-profits-dip-104479/ https://tipsheet.markets/narmp-narmada-macplast-revenue-jumps-to-13-31-cr-as-profits-dip-104479/ Sun, 31 May 2026 01:04:38 GMT Operating revenue for the year ended March 31, 2026, nearly doubled to ₹13.31 crore, though net profit dropped following a large prior-year asset sale. Operating revenue for the year ended March 31, 2026, nearly doubled to ₹13.31 crore, though net profit dropped following a large prior-year asset sale.

What’s new

  • Revenue climbed to ₹13.31 crore from ₹6.98 crore in FY25.
  • Net profit fell to ₹1.68 crore against ₹5.39 crore the previous year.
  • Trade receivables jumped to ₹13.55 crore, up from ₹2.90 crore last year.

Why it matters

The top-line expansion shows progress, but the ballooning receivables suggest the company struggles to collect cash from customers. A firm of this size cannot carry a growing working capital gap while margins contract.

What we’re watching

  • Cash conversion cycles in the coming quarters.
  • Ability to lower trade receivables from current levels.
  • Equity deployment of capital raised via recent share issuances.

The full read

Narmada Macplast doubled its revenue to ₹13.31 crore for FY26. The top-line growth is evident, but the profit figure is muddied by the absence of last year's ₹5.82 crore one-time gain from asset disposal. Net profit landed at ₹1.68 crore, down from ₹5.39 crore in the previous cycle. A more pressing issue is the state of the balance sheet. Trade receivables have ballooned to ₹13.55 crore, surpassing the company's total annual revenue. For a nano-cap firm, this level of working capital intensity creates genuine liquidity pressure. The company added new equity, pushing total equity to ₹9.40 crore, but the focus now shifts to cash collection. The business needs cash, not just receivables. It is not there yet.

Primary source: BSE · NSE

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