Intraday Price Movement and Volatility
On 1 Jan 2026, Natraj Proteins Ltd opened with a positive gap, rising 5.84% to touch an intraday high of Rs.33.87. However, the stock reversed course sharply, hitting an intraday low of Rs.29, representing a decline of 9.38% from the previous close. This resulted in a highly volatile trading session with an intraday volatility of 7.73%, calculated from the weighted average price. The stock closed the day down by 6.25%, underperforming the edible oil sector by 9.76%.
Technical Indicators and Moving Averages
Technically, Natraj Proteins is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This broad weakness across short, medium, and long-term technical indicators signals sustained downward momentum. The stock’s 52-week high stands at Rs.51.60, highlighting the extent of the decline over the past year.
Market Context and Benchmark Comparison
While Natraj Proteins has struggled, the broader market has shown resilience. The Sensex opened flat but gained 0.06% to trade at 85,268.46, just 1.04% shy of its 52-week high of 86,159.02. The Sensex is currently trading above its 50-day moving average, which itself is positioned above the 200-day moving average, indicating a bullish trend. Mid-cap stocks led the market rally, with the BSE Mid Cap index gaining 0.22% today. In stark contrast, Natraj Proteins has delivered a negative return of -37.49% over the past year, compared to the Sensex’s positive 8.58% return.
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Financial Performance and Profitability Metrics
Natraj Proteins’ financial results have reflected ongoing difficulties. For the nine months ended September 2025, net sales declined by 23.59% to Rs.76.54 crores. The company reported a quarterly PBDIT loss of Rs.1.02 crore, with the operating profit to net sales ratio at a low of -3.79%. These figures underscore the pressure on the company’s earnings and margins.
Return Ratios and Valuation
The company’s average return on equity (ROE) stands at 6.97%, indicating modest profitability relative to shareholders’ funds. The return on capital employed (ROCE) is reported at 1%, which, while low, contributes to an attractive valuation metric with an enterprise value to capital employed ratio of 0.6. This valuation discount is notable when compared to peers’ historical averages, suggesting the market is pricing in the company’s current challenges.
Shareholding and Market Grade
Majority shareholding in Natraj Proteins is held by non-institutional investors. The company’s overall market capitalisation grade is rated 4, reflecting its mid-tier market cap status. The Mojo Score for the stock is 14.0, with a recent downgrade from a ‘Sell’ to a ‘Strong Sell’ rating on 31 July 2025, signalling a deteriorated outlook based on fundamental and technical assessments.
Historical Underperformance
Over the last three years, Natraj Proteins has consistently underperformed the BSE500 benchmark. The cumulative impact of this trend is evident in the stock’s 37.49% negative return over the past year, contrasting sharply with the broader market’s positive trajectory. Despite this, the company’s profits have risen by 55.3% over the same period, indicating some operational improvements that have yet to translate into share price gains.
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Sector and Industry Positioning
Natraj Proteins operates within the edible oil industry, a sector characterised by intense competition and sensitivity to commodity price fluctuations. The stock’s recent underperformance relative to its sector peers highlights challenges in maintaining market share and profitability. Despite the sector’s overall resilience, the company’s share price has not benefited from broader market gains, reflecting company-specific factors impacting investor sentiment.
Summary of Key Metrics
To summarise, Natraj Proteins Ltd’s stock has declined to Rs.29, its lowest level in 52 weeks, following a day of significant volatility and a 6.25% drop. The company’s financial results reveal declining sales and operating losses, with profitability ratios indicating limited returns on equity and capital employed. The stock’s technical position remains weak, trading below all major moving averages, while the broader market and sector indices have shown relative strength. The downgrade to a ‘Strong Sell’ rating and a Mojo Score of 14.0 further reflect the challenges faced by the company.
Outlook Considerations
While the stock’s valuation metrics suggest it is trading at a discount relative to peers, the persistent underperformance and financial pressures have weighed heavily on the share price. The company’s ability to translate recent profit growth into sustained market confidence remains a critical factor in its near-term performance.
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