Nath Bio-Genes (India) Ltd

Forensic audit mandate

• SEBI appointed CNK & Associates LLP as forensic auditor for Nath Bio-Genes India.
• The forensic audit covers financial years 2020-21 to 2025-26.
• Nath Bio-Genes will provide information and access as required.
• Company will not comment further pending completion of the audit.

Q1FY27 Highlights

• Q1FY27 unaudited results presentation for period ended 30 June 2026.
• Revenue for Q1FY27 ₹3,228 million, up 15% YoY.
• Gross profit ₹1,629 million; gross margin 50%.
• EBITDA ₹351 million; EBITDA margin 11%.
• PBT after adjustment of exceptional items ₹334 million; tax ₹7 million; PAT ₹327 million.
• Earnings per share ₹17.18; YoY up 12%.
• Q1FY27 revenue mix: Paddy 35%, Cotton 34%, Others 31%.
• FY26 full-year: Revenue ₹4,316 million; EBITDA ₹525 million.
• Balance sheet notes indicate a strong balance sheet with maintained profitability.

Meeting Details

• Board meeting on 29 July 2026 to approve unaudited results (standalone and consolidated) ended 30 June 2026.

Key Agenda Items

• To consider and approve unaudited standalone and consolidated financial results for the quarter ended 30 June 2026.
• To transact any other business with the permission of the Chair.

Other Notes

• Trading window closure period noted; dates not specified in this summary.

Business Overview

• Nath Bio-Genes specializes in genetically pure seeds for cotton, wheat, maize, and fodder bajra.
• Operates DSIR-recognized R&D centers with international collaborations, including a JV in Uzbekistan.
• Strategic focus on product diversification, operational efficiency, and innovation beyond cotton.

Key Operational Highlights

• Cotton seed sales rose 21.35% YoY to 12.6 lakh packets; value grew 25.26%.
• Paddy volume increased 7.75% YoY to 61,804 quintals; value up 18.60%.
• Maize volume surged 94.77% YoY to 9,527 quintals; value increased 141.98%.
• Vegetable seeds volume grew 43.44% YoY to 2,099 quintals; value up 52.08%.
• PNS segment volume declined 1.14% YoY; value grew 1.20%.

Financial Performance 📊

• Q3FY26 revenue ₹660 Mn, up 79% YoY; 9MFY26 revenue ₹3,859 Mn, up 23% YoY.
• Q3FY26 EBITDA ₹88 Mn, up 18% YoY; 9MFY26 EBITDA ₹499 Mn, down 2% YoY.
• Q3FY26 PAT ₹45 Mn, up 67% YoY; 9MFY26 PAT ₹399 Mn, up 1% YoY.
• Gross margin declined to 56% in Q3FY26 from 66% YoY; EBITDA margin 13% vs. 20% YoY.
• Finance costs rose 24% YoY in Q3FY26 to ₹42 Mn; depreciation increased 18%.
• FY25 revenue ₹3,623 Mn; EBITDA margin 14%; PAT margin 11%.

Capital Structure & Liquidity

• Short-term borrowings at ₹1,095 Mn in FY25; long-term borrowings ₹16 Mn.
• Cash and bank balances increased to ₹876 Mn in FY25 from ₹755 Mn in FY24.
• Reserves and surplus grew to ₹6,297 Mn in FY25, supporting net worth growth.

Strategic Priorities & Outlook

• Expanding high-margin product portfolio and strengthening supply chain networks.
• Investing in R&D for disease- and pest-resistant seeds across agro-climatic zones.
• Focus on long-term grower relationships and international market expansion.

Financial Performance 📊

• Standalone Q3 FY26 revenue rose 69.7% YoY to Rs 6,596.11 lakhs from Rs 3,977.07 lakhs.
• Standalone 9M FY26 revenue increased 23.2% YoY to Rs 38,590.36 lakhs from Rs 31,294.05 lakhs.
• Standalone Q3 FY26 PBT grew 67.4% YoY to Rs 810.36 lakhs from Rs 484.20 lakhs.
• Standalone Q3 FY26 PAT rose 72.2% YoY to Rs 723.08 lakhs from Rs 420.09 lakhs.
• Consolidated Q3 FY26 revenue increased 50.4% YoY to Rs 6,595.90 lakhs from Rs 4,384.96 lakhs.
• Consolidated Q3 FY26 PAT declined 66.7% YoY to Rs 160.49 lakhs from Rs 481.67 lakhs.

Expenses & Other Financials

• Standalone Q3 FY26 EBITDA increased 26.5% YoY to Rs 786.01 lakhs from Rs 621.12 lakhs.
• Standalone Q3 FY26 employee benefit expenses rose 15.3% YoY to Rs 1,114.14 lakhs.
• Standalone 9M FY26 selling and distribution expenses rose 37% YoY to Rs 10,376.33 lakhs.
• Standalone Q3 FY26 inventory changes impacted expenses by Rs (7,311.81) lakhs.
• Finance costs for 9M FY26 increased YoY to Rs 1,037.18 lakhs standalone and Rs 1,139.56 lakhs consolidated.
• Exceptional income of Rs 268.60 lakhs recognized in Q3 FY26 standalone and consolidated results.

Earnings Per Share & Auditor Notes

• Standalone Q3 FY26 basic EPS was Rs 1.80, down from Rs 2.91 YoY.
• Consolidated Q3 FY26 basic EPS was Rs 0.84, down from Rs 2.53 YoY.
• Auditor issued qualified opinion due to incomplete assessment of Labour Code impact effective Nov 21, 2025.
• No provision made yet for increased employee benefit liabilities from Labour Code changes.

Corporate & Segment Information

• Consolidated results include Nath Bio-Genes (Central Asia) LLC, Uzbekistan joint venture.
• Joint venture financials converted to Indian GAAP for consolidation.
• Company operates primarily in one segment: Seed Cultivation.
• Board approved Q3 and 9M FY26 results on Jan 31, 2026; limited review reports issued with qualified opinion.

🗓️ Meeting Details

• Board meeting scheduled for 31 January 2026.

📊 Financial Performance

• Approval of standalone and consolidated unaudited financial results for quarter and nine months ended 31 December 2025.