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EGAD — Eaagads Ltd

Graham's number is √(22.5 × EPS × BVPS): a P/E ceiling of 15 times a P/B ceiling of 1.5, applied to one year's earnings and book value. The Graham number primer works through it. It is a computation, not a recommendation.

Tests: Graham's criteria for industrial companies. Eaagads grows and sells coffee on its estates in Kiambu, so Graham's industrial tests apply: sales for size, and the current ratio and long-term debt against working capital for strength. It is a very small SME-segment counter and its financial year runs to 31 March, not 31 December. Per-share figures rest on the 32,157,000 ordinary shares of KShs 1.25 each in issue, the count printed in the share capital note and used in the company's own earnings-per-share note. The company carries no non-current borrowings; its only borrowing, a crop debenture, is short term and was repaid in full during the year to 31 March 2026.

year to 31 Mar 2026

Showing FY2026

√(22.5 × 0.86 × 44.89) = 29.47

The Graham number for FY2026, from that year's EPS and BVPS. Tap a figure below for its source and date.

Discount to Graham number: −2.6% at the results-day price of 30.25. Positive means the price was below the Graham number; negative means above.

The figures

Per share (KES)

Earnings (EPS)
0.86

basic and diluted as printed (2025: 0.37); profit for the year 27,595k against 11,845k. Sales volume fell 33% to 264 tons but the average sales price rose 32% to USD 7.6/kg of clean coffee, lifting pre-tax profit 125% to 39,170k · basic · Announcement of audited results for the financial year ended 31 March 2026, statement of profit or loss and other comprehensive income · 29 Jul 2026

Book value (BVPS)
44.89

share capital 40,196k, revaluation reserve 1,175,358k and retained earnings 228,013k; no non-controlling interests and no proposed dividend. Book value rose mainly on other comprehensive income of 122,257k, almost all of it a revaluation of land and buildings and plant and machinery · attributable · computed: total equity 1,443,567k ÷ 32,157,000 shares, Announcement of audited results for the financial year ended 31 March 2026, statement of financial position, with the share count from the Annual Report and Financial Statements 31 March 2026, share capital note 20 · 29 Jul 2026

Dividend (DPS)
0.00

the board did not recommend a dividend for the year ended 31 March 2026 (31 March 2025: nil) · Announcement of audited results for the financial year ended 31 March 2026, dividend paragraph · 29 Jul 2026

Price on results day
30.25

NSE daily price list VWAP, the exchange's official end-of-day price, on 1,830 shares. The board approved the results on 28 Jul 2026 and the announcement PDF was created that afternoon at 15:55, after the 15:00 close, so the first trading day after that is used · NSE daily price list 2026-07-29, p.1 (agricultural section) · 29 Jul 2026

Size and balance sheet (KES m)

Revenue
257.4

revenue of 257,429k, down from 277,266k, on a 33% (87 tons) fall in sales volume to 264 tons; production fell 5% to 281 tons on high temperatures · Announcement of audited results for the financial year ended 31 March 2026, statement of profit or loss and other comprehensive income · 29 Jul 2026

Current assets
276.2

biological assets 122,562k, inventories 9,159k, trade and other receivables 100,593k and cash and bank balances 43,925k · Announcement of audited results for the financial year ended 31 March 2026, statement of financial position; composition from the Annual Report and Financial Statements 31 March 2026, statement of financial position · 29 Jul 2026

Current liabilities
64.6

64,612k; the crop debenture short-term loan of 30,317k a year earlier was repaid in full and stood at nil · Announcement of audited results for the financial year ended 31 March 2026, statement of financial position; composition from the Annual Report and Financial Statements 31 March 2026, statement of financial position · 29 Jul 2026

Long-term debt
0.0

no non-current borrowings are disclosed; the non-current liability block of 252,347k is deferred tax 238,481k, retirement benefit obligations 13,464k and long service awards 402k · Annual Report and Financial Statements 31 March 2026, statement of financial position · 29 Jul 2026

KES per US$
129.50

CBK daily exchange rates (mean) · 29 Jul 2026

Computed

EPS, three-year average
Not compiled
P/E on three-year EPS
Not compiled
P/B
0.67

computed: price ÷ BVPS · 29 Jul 2026

Dividend yield
0.0%

computed: DPS ÷ price · 29 Jul 2026

Current ratio
4.28

computed: current assets ÷ current liabilities · 29 Jul 2026

Price ÷ Graham number
1.03×

computed: price ÷ Graham number · 29 Jul 2026

Discount to Graham number
−2.6%

computed: (Graham number − price) ÷ Graham number · 29 Jul 2026

Graham's tests

  1. Adequate size

    Revenue of at least US$100m

    Not met
  2. Financial strength

    Current ratio of at least 2; long-term debt no more than working capital

    Met
  3. Earnings stability

    Positive EPS in each of the past 10 years

    No result: data not compiled
  4. Dividend record

    A dividend paid in each of the past 20 years

    Not met
  5. Earnings growth

    EPS up at least one-third over 10 years, on three-year averages

    No result: data not compiled
  6. Moderate P/E

    Price no more than 15 × three-year average EPS

    No result: data not compiled
  7. Moderate P/B

    Price no more than 1.5 × BVPS, or P/E × P/B no more than 22.5

    Met

Sources and notes

  • Earnings (EPS): basic · Announcement of audited results for the financial year ended 31 March 2026, statement of profit or loss and other comprehensive income · 29 Jul 2026 (basic and diluted as printed (2025: 0.37); profit for the year 27,595k against 11,845k. Sales volume fell 33% to 264 tons but the average sales price rose 32% to USD 7.6/kg of clean coffee, lifting pre-tax profit 125% to 39,170k)
  • Book value (BVPS): attributable · computed: total equity 1,443,567k ÷ 32,157,000 shares, Announcement of audited results for the financial year ended 31 March 2026, statement of financial position, with the share count from the Annual Report and Financial Statements 31 March 2026, share capital note 20 · 29 Jul 2026 (share capital 40,196k, revaluation reserve 1,175,358k and retained earnings 228,013k; no non-controlling interests and no proposed dividend. Book value rose mainly on other comprehensive income of 122,257k, almost all of it a revaluation of land and buildings and plant and machinery)
  • Dividend (DPS): Announcement of audited results for the financial year ended 31 March 2026, dividend paragraph · 29 Jul 2026 (the board did not recommend a dividend for the year ended 31 March 2026 (31 March 2025: nil))
  • Price on results day: NSE daily price list 2026-07-29, p.1 (agricultural section) · 29 Jul 2026 (NSE daily price list VWAP, the exchange's official end-of-day price, on 1,830 shares. The board approved the results on 28 Jul 2026 and the announcement PDF was created that afternoon at 15:55, after the 15:00 close, so the first trading day after that is used)
  • Revenue: Announcement of audited results for the financial year ended 31 March 2026, statement of profit or loss and other comprehensive income · 29 Jul 2026 (revenue of 257,429k, down from 277,266k, on a 33% (87 tons) fall in sales volume to 264 tons; production fell 5% to 281 tons on high temperatures)
  • Current assets: Announcement of audited results for the financial year ended 31 March 2026, statement of financial position; composition from the Annual Report and Financial Statements 31 March 2026, statement of financial position · 29 Jul 2026 (biological assets 122,562k, inventories 9,159k, trade and other receivables 100,593k and cash and bank balances 43,925k)
  • Current liabilities: Announcement of audited results for the financial year ended 31 March 2026, statement of financial position; composition from the Annual Report and Financial Statements 31 March 2026, statement of financial position · 29 Jul 2026 (64,612k; the crop debenture short-term loan of 30,317k a year earlier was repaid in full and stood at nil)
  • Long-term debt: Annual Report and Financial Statements 31 March 2026, statement of financial position · 29 Jul 2026 (no non-current borrowings are disclosed; the non-current liability block of 252,347k is deferred tax 238,481k, retirement benefit obligations 13,464k and long service awards 402k)
  • KES per US$: CBK daily exchange rates (mean) · 29 Jul 2026

Disclaimer: This profile is published for educational purposes only and does not constitute financial advice. It presents reported company data and arithmetic derived from it — not a recommendation to buy, hold or sell. Investing in securities involves risk, including the possible loss of principal. Readers should conduct their own research and consult with a qualified financial advisor before making investment decisions.

Profile compiled 2026-09-25 from Eaagads announcement of audited results for the financial year ended 31 March 2026, audited by Deloitte & Touche LLP and approved by the board on 28 Jul 2026 (issuer filing hosted by NSE, nse.co.ke), and the Annual Report and Financial Statements for the years ended 31 March 2026 and 31 March 2025 (eaagads.co.ke), with NSE daily price lists (nse.co.ke) and CBK daily exchange rates (centralbank.go.ke); primary sources only.