Gujarat Narmada Valley Fertilizers & Chemicals Ltd
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Chemicals: 63.0% • Fertilizers: 35.6% • Others: 1.4%
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 275.9% YoY, showing strong momentum
- Company has been maintaining a healthy dividend payout of 38.2%
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (46.9% of PBT)
- Company has a low return on equity of 7.2% over last 3 years
- Company has a low return on capital employed of 9.7%
- Operating margins have contracted to 10.8% from 21.2%
- Company has delivered a poor profit growth of 3.0% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SOLARINDS | 22305.00 | 101.35 | 201838.07 | 0.05 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| PIDILITIND | 1572.50 | 60.43 | 160061.58 | 1.37 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| SRF | 2515.00 | 34.49 | 74550.84 | 0.36 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| FLUOROCHEM | 4753.80 | 84.91 | 52220.49 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 9.58 | 26.83 |
| NAVINFLUOR | 8796.15 | 57.15 | 45131.39 | 0.17 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| GODREJIND | 1132.45 | 32.45 | 38146.70 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| DEEPAKNTR | 1642.10 | 28.59 | 22397.10 | 0.46 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| AETHER | 1612.65 | 91.01 | 21404.36 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| ATUL | 6217.65 | 23.01 | 18305.85 | 0.48 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| AARTIIND | 497.05 | 33.95 | 18029.33 | 0.20 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.95 | 16.00 |
| DEEPAKFERT | 1358.70 | 17.49 | 17209.68 | 0.74 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| GNFC | 574.15 | 8.14 | 8436.60 | 3.66 | 312.00 | 275.90 | 2238.00 | 39.79 | 12.04 | 17.65 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,652 | 2,080 | 2,088 | 2,110 | 2,021 | 1,917 | 1,899 | 2,055 | 1,601 | 1,968 | 1,996 | 2,208 | 2,238 | |
| 1,547 | 1,911 | 2,004 | 1,965 | 1,868 | 1,827 | 1,767 | 1,815 | 1,570 | 1,783 | 1,815 | 1,726 | 1,923 | |
| Operating Profit | 105 | 169 | 84 | 145 | 153 | 90 | 132 | 240 | 31 | 185 | 181 | 482 | 315 |
| OPM % | 6.36% | 8.12% | 4.02% | 6.87% | 7.57% | 4.69% | 6.95% | 11.68% | 1.94% | 9.40% | 9.07% | 21.83% | 14.08% |
| 88 | 152 | 121 | 108 | 99 | 123 | 157 | 122 | 150 | 127 | 97 | 125 | 101 | |
| Interest | 1 | 1 | 7 | 4 | 17 | 2 | 3 | 1 | 2 | 1 | 1 | 2 | 2 |
| Depreciation | 76 | 78 | 76 | 78 | 78 | 76 | 75 | 74 | 74 | 81 | 73 | 79 | 76 |
| Profit before Tax | 116 | 242 | 122 | 171 | 157 | 135 | 211 | 287 | 105 | 230 | 204 | 526 | 418 |
| Tax % | 26.72% | 26.45% | 22.13% | 25.73% | 26.75% | 24.44% | 25.12% | 26.83% | 25.71% | 23.04% | 26.47% | 25.48% | 25.36% |
| Net Profit | 0 | 0 | 0 | 0 | 118 | 105 | 163 | 211 | 83 | 179 | 150 | 396 | 312 |
| 5.68 | 11.74 | 6.30 | 8.84 | 8.03 | 7.14 | 11.09 | 14.35 | 5.65 | 12.18 | 10.20 | 26.94 | 21.22 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,589 | 5,837 | 5,896 | 5,162 | 5,129 | 8,642 | 10,227 | 7,930 | 7,892 | 7,773 | 8,410 | |
| 3,936 | 4,447 | 5,028 | 4,621 | 4,127 | 6,259 | 8,295 | 7,372 | 7,278 | 6,895 | 7,247 | |
| Operating Profit | 653 | 1,391 | 868 | 542 | 1,002 | 2,383 | 1,932 | 558 | 615 | 878 | 1,163 |
| OPM % | 14.23% | 23.82% | 14.72% | 10.49% | 19.53% | 27.57% | 18.89% | 7.04% | 7.79% | 11.29% | 13.83% |
| 517 | 142 | 221 | 153 | 239 | 210 | 308 | 413 | 501 | 500 | 450 | |
| Interest | 203 | 100 | 6 | 5 | 20 | 3 | 5 | 13 | 23 | 6 | 6 |
| Depreciation | 251 | 270 | 263 | 264 | 272 | 292 | 303 | 308 | 303 | 307 | 309 |
| Profit before Tax | 715 | 1,162 | 819 | 425 | 948 | 2,298 | 1,932 | 651 | 790 | 1,065 | 1,378 |
| Tax % | 27.10% | 32.05% | 9.54% | -17.44% | 27.32% | 25.86% | 24.21% | 25.54% | 25.92% | 25.11% | 25.18% |
| Net Profit | 521 | 789 | 741 | 499 | 689 | 1,704 | 1,464 | 485 | 586 | 797 | 1,031 |
| EPS | 34.02 | 51.15 | 48.24 | 32.69 | 44.84 | 110.05 | 94.68 | 33.83 | 40.68 | 55.03 | — |
| Dividend Payout % | 14.70% | 14.66% | 14.51% | 15.30% | 17.84% | 9.09% | 31.69% | 48.78% | 44.25% | 38.16% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 9%
- 3 Years:
- -9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 16%
- 5 Years:
- 3%
- 3 Years:
- -18%
STOCK PRICE CAGR
- 10 Years:
- 14%
- 5 Years:
- 11%
- 3 Years:
- -4%
- 1 Year:
- 13%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 13%
- 3 Years:
- 7%
- Last Year:
- 9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 155 | 155 | 155 | 155 | 155 | 155 | 155 | 147 | 147 | 147 |
| 3,700 | 4,362 | 4,909 | 5,144 | 5,913 | 7,835 | 8,950 | 8,162 | 8,429 | 8,968 | |
| 2,750 | 1,184 | 1,028 | 1,618 | 707 | 644 | 583 | 523 | 561 | 399 | |
| Trade Payables | 340 | 426 | 395 | 513 | 399 | 648 | 578 | 522 | 495 | 454 |
| 1,011 | 1,104 | 1,122 | 988 | 1,210 | 1,453 | 1,430 | 1,318 | 1,372 | 1,391 | |
| Total Liabilities | 7,956 | 7,231 | 7,609 | 8,419 | 8,385 | 10,734 | 11,696 | 10,672 | 11,003 | 11,359 |
| 4,423 | 4,142 | 3,940 | 3,792 | 3,703 | 3,561 | 3,344 | 3,201 | 3,057 | 2,847 | |
| Capital Work in Progress | 14 | 14 | 25 | 82 | 161 | 138 | 187 | 289 | 382 | 900 |
| 816 | 785 | 799 | 673 | 938 | 1,313 | 3,205 | 3,030 | 2,304 | 1,693 | |
| 662 | 681 | 829 | 932 | 813 | 977 | 1,123 | 1,119 | 1,257 | 1,018 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 626 | 423 | 641 | |
| Cash & Bank | 13 | 16 | 235 | 189 | 1,451 | 1,182 | 1,994 | 1,529 | 2,308 | 1,109 |
| 2,029 | 1,593 | 1,780 | 2,750 | 1,319 | 3,564 | 1,843 | 878 | 1,272 | 3,152 | |
| Total Assets | 7,956 | 7,231 | 7,609 | 8,419 | 8,385 | 10,734 | 11,696 | 10,672 | 11,003 | 11,359 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,523 | 2,026 | 810 | 334 | 2,102 | 2,594 | 1,958 | 31 | 605 | 654 | |
| Cash from Investing | -53 | 49 | -310 | -901 | -856 | -1,899 | -1,229 | 1,235 | -466 | -230 |
| Cash from Financing | -1,073 | -1,400 | -185 | 546 | -934 | -130 | -160 | -1,281 | -262 | -269 |
| 320 | 468 | 206 | -69 | 95 | -62 | -16 | -14 | -123 | 155 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-09-09 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange regarding Appointment of Mr SANJEEV KUMAR as Managing Director of the company w.e.f. September 09, 2026.
2026-09-09 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange regarding Resignation of Mr RAJKUMAR BENIWAL as Managing Director of the company w.e.f. September 09, 2026.
2026-09-09 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange regarding Change in Director(s) of the company.
2026-09-06 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange about General Updates
2026-08-25 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange about Copy of Newspaper Publication giving notice of 50th Annual General Meeting of the company to be held on September 16, 2026 at 03:00 P.M.(IST) through VC/OAVM.
2026-08-22 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange about sending of letter to the Shareholder under regulation 36 (1) (b) of SEBI (LODR) Regulations, 2015.
2026-08-22 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange regarding Submission of Business Responsibility & Sustainability Report for FY 2025-26.
2026-08-22 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 16, 2026
News
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