Gujarat Narmada Valley Fertilizers & Chemicals Ltd

•

gnfc.inBSE: 500670NSE: GNFC

Market Cap₹ 8,437 Cr.

Current Price

High / Low₹ 619 / 365

Stock P/E8.2

Book Value₹ 632

Price to Book0.60

Dividend Yield3.66 %

ROCE12.2 %

ROE9.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Chemicals: 63.0% • Fertilizers: 35.6% • Others: 1.4%

AI Sector View

AI GENERATED

Chemicals

Hold

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.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 297.4% YoY, showing strong momentum
Company has been maintaining a healthy dividend payout of 38.7%
Company has a consistent dividend-paying track record
Company generates healthy free cash flow
Stock looks reasonably valued - P/E of 8.2 is below its historical median

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 7.3% over last 3 years
Company has a low return on capital employed of 9.9%
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

ChemicalsChemicalsChemicals

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	SOLARINDS	22305.00	101.35	201838.07	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1572.50	60.43	160061.58	1.37	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2515.00	34.49	74550.84	0.36	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4753.80	84.91	52220.49	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8796.15	57.15	45131.39	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1132.45	32.45	38146.70	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1642.10	28.59	22397.10	0.46	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1612.65	91.01	21404.36	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6217.65	23.01	18305.85	0.48	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	497.05	33.95	18029.33	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1358.70	17.49	17209.68	0.74	490.04	100.95	3256.26	22.47	12.12	25.96
12.	GNFC	574.15	8.14	8436.60	3.66	312.00	275.90	2238.00	39.79	12.04	17.65

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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	416
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%	25.48%
Net Profit	85	178	95	127	115	102	158	210	78	177	150	392	310
	5.48	11.48	6.17	8.64	7.82	6.94	10.75	14.29	5.31	12.04	10.20	26.67	21.09

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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	8,350	7,428	7,278	6,895	7,247
Operating Profit	653	1,391	868	542	1,002	2,383	1,877	501	615	878	1,163
OPM %	14.23%	23.82%	14.72%	10.49%	19.53%	27.57%	18.35%	6.32%	7.79%	11.29%	13.83%
	517	142	221	153	239	210	363	470	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	1,376
Tax %	27.10%	32.05%	9.54%	-17.44%	27.32%	25.86%	24.21%	25.54%	25.92%	25.11%	25.22%
Net Profit	521	790	741	499	689	1,704	1,464	485	586	797	1,029
EPS	33.54	50.80	47.69	32.10	44.35	109.62	94.20	32.99	39.85	54.27	—
Dividend Payout %	14.91%	14.76%	14.68%	15.58%	18.04%	9.12%	31.85%	50.01%	45.17%	38.69%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 9%
3 Years:: -9%

COMPOUNDED PROFIT GROWTH

10 Years:: 17%
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:: 14%
5 Years:: 13%
3 Years:: 7%
Last Year:: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	3,646	4,303	4,842	5,067	5,828	7,743	8,851	8,051	8,305	8,834
	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	7,903	7,172	7,542	8,342	8,300	10,643	11,597	10,561	10,880	11,225
	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
	762	726	732	596	853	1,222	3,106	2,919	2,181	1,558
	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	7,903	7,172	7,542	8,342	8,300	10,643	11,597	10,561	10,880	11,225

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	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

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	41.30	41.30	41.30	41.30	41.30	41.30	41.30	41.30
	16.15	15.41	15.03	12.67	12.08	12.13	12.05	13.11
	11.16	11.10	10.12	10.48	10.68	11.11	11.06	11.01
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.39	32.18	33.54	35.54	35.93	35.46	35.59	34.58

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Resignation of Director/KMP/SMP

2026-09-10 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-09

Appointment

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

Resignation

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

Change in Director(s)

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

General Updates

2026-09-06 - Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange about General Updates

2026-08-25

Copy of Newspaper Publication

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

General Updates

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

Updates

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

Shareholders meeting

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

Recent coverage and analyst commentary for GNFC

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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

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

145

153

132

240

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%

152

121

108

123

157

122

150

127

125

101

Interest

Depreciation

Profit before Tax

116

242

122

171

157

135

211

287

105

230

204

526

416

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%

Net Profit

178

127

115

102

158

210

177

150

392

310

5.48

11.48

6.17

8.64

7.82

6.94

10.75

14.29

5.31

12.04

10.20

26.67

21.09

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

8,350

7,428

7,278

6,895

7,247

Operating Profit

653

1,391

868

542

1,002

2,383

1,877

501

615

878

1,163

OPM %

14.23%

23.82%

14.72%

10.49%

19.53%

27.57%

18.35%

6.32%

7.79%

11.29%

13.83%

517

142

221

153

239

210

363

470

501

500

450

Interest

203

100

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

1,376

Tax %

27.10%

32.05%

9.54%

-17.44%

27.32%

25.86%

24.21%

25.54%

25.92%

25.11%

25.22%

Net Profit

521

790

741

499

689

1,704

1,464

485

586

797

1,029

EPS

33.54

50.80

47.69

32.10

44.35

109.62

94.20

32.99

39.85

54.27

—

Dividend Payout %

14.91%

14.76%

14.68%

15.58%

18.04%

9.12%

31.85%

50.01%

45.17%

38.69%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

155

147

3,646

4,303

4,842

5,067

5,828

7,743

8,851

8,051

8,305

8,834

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

7,903

7,172

7,542

8,342

8,300

10,643

11,597

10,561

10,880

11,225

4,423

4,142

3,940

3,792

3,703

3,561

3,344

3,201

3,057

2,847

Capital Work in Progress

161

138

187

289

382

900

762

726

732

596

853

1,222

3,106

2,919

2,181

1,558

662

681

829

932

813

977

1,123

1,119

1,257

1,018

626

423

641

Cash & Bank

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

7,903

7,172

7,542

8,342

8,300

10,643

11,597

10,561

10,880

11,225

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

605

654

Cash from Investing

-53

-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

-62

-16

-14

-123

155

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

41.30

16.15

15.41

15.03

12.67

12.08

12.13

12.05

13.11

11.16

11.10

10.12

10.48

10.68

11.11

11.06

11.01

Government

0.00

31.39

32.18

33.54

35.54

35.93

35.46

35.59

34.58

Gujarat Narmada Valley Fertilizers & Chemicals Ltd

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Gujarat Narmada Valley Fertilizers & Chemicals Ltd

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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