Rashtriya Chemicals and Fertilizers Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Fertilizers: 59.0% • Trading: 32.1% • Industrial Products: 8.8%
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 has consistently been profitable over the last 5 years
- Latest quarter profit grew 35.1% YoY, showing strong momentum
- Company has delivered good sales growth of 17.4% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.64x)
- Stock looks reasonably valued - P/E of 13.8 is below its historical median
- Company has a consistent dividend-paying track record
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (51.8% of PBT)
- Company has a low return on equity of 6.2% over last 3 years
- Company has a low return on capital employed of 8.5%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| COROMANDEL | 1928.70 | 31.06 | 56908.40 | 0.57 | 381.56 | -23.93 | 8164.77 | 15.94 | 23.92 | 9.26 |
| FACT | 779.35 | 1803.63 | 50429.55 | 0.00 | -67.90 | -948.75 | 1567.84 | 65.14 | 11.30 | -2.73 |
| CHAMBLFERT | 419.25 | 8.71 | 16797.35 | 2.62 | 523.60 | -4.61 | 5027.02 | -11.77 | 25.50 | 16.42 |
| PARADEEP | 155.95 | 15.11 | 16195.72 | 0.96 | 392.54 | 53.43 | 6124.25 | 63.14 | 15.09 | 11.76 |
| MBAPL | 160.87 | 45.49 | 7048.27 | 0.06 | 329.62 | 1068.62 | 4163.01 | 916.15 | 19.41 | 15.83 |
| GSFC | 155.95 | 8.97 | 6214.26 | 3.21 | 158.54 | 14.39 | 3583.15 | 64.03 | 7.17 | 6.58 |
| RCF | 111.40 | 13.76 | 6145.81 | 1.20 | 73.53 | 35.09 | 3585.71 | 6.38 | 10.81 | 6.11 |
| KRISHANA | 179.66 | 28.24 | 5553.97 | 0.06 | 47.09 | 54.01 | 532.31 | 34.58 | 27.26 | 16.71 |
| NFL | 68.53 | 9.23 | 3361.93 | 1.52 | 113.38 | 387.47 | 4500.39 | 27.34 | 9.16 | 6.87 |
| SPIC | 68.94 | 6.85 | 1403.90 | 2.90 | 60.18 | -9.79 | 848.81 | 9.22 | 16.82 | 9.27 |
| MADRASFERT | 62.23 | 14.13 | 1002.53 | 0.00 | 34.59 | -21.49 | 814.01 | 21.07 | 27.70 | 6.46 |
| ZUARI | 220.85 | 0.99 | 928.85 | 0.00 | 118.70 | -90.68 | 615.21 | -50.63 | 50.40 | 25.25 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,043 | 4,155 | 4,904 | 3,880 | 4,396 | 4,290 | 4,518 | 3,730 | 3,371 | 5,293 | 4,236 | 5,581 | 3,586 | |
| 3,914 | 4,049 | 4,819 | 3,684 | 4,280 | 4,088 | 4,339 | 3,551 | 3,213 | 5,078 | 3,992 | 5,256 | 3,519 | |
| Operating Profit | 129 | 106 | 84 | 195 | 116 | 202 | 179 | 178 | 158 | 214 | 245 | 324 | 67 |
| OPM % | 3.20% | 2.55% | 1.71% | 5.04% | 2.64% | 4.70% | 3.96% | 4.79% | 4.68% | 4.05% | 5.78% | 5.81% | 1.86% |
| 58 | 67 | 37 | 44 | 30 | 43 | 42 | 54 | 39 | 51 | 52 | 113 | 35 | |
| Interest | 39 | 44 | 48 | 52 | 70 | 76 | 53 | 54 | 56 | 55 | 103 | 79 | 71 |
| Depreciation | 56 | 56 | 56 | 64 | 60 | 62 | 63 | 78 | 66 | 70 | 75 | 80 | 83 |
| Profit before Tax | 92 | 73 | 17 | 122 | 16 | 106 | 105 | 101 | 75 | 141 | 118 | 278 | 101 |
| Tax % | 26.04% | 29.06% | 36.48% | 20.25% | 34.05% | 25.85% | 23.93% | 27.73% | 27.66% | 25.02% | 31.19% | 32.09% | 27.50% |
| Net Profit | 0 | 0 | 0 | 0 | 11 | 79 | 80 | 72 | 54 | 105 | 81 | 187 | 74 |
| 1.23 | 0.92 | 0.20 | 1.73 | 0.20 | 1.43 | 1.45 | 1.31 | 0.99 | 1.91 | 1.47 | 3.38 | 1.33 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,099 | 7,255 | 8,885 | 9,698 | 8,281 | 12,812 | 21,452 | 16,981 | 16,934 | 18,480 | 18,695 | |
| 6,725 | 7,043 | 8,494 | 9,163 | 7,565 | 11,851 | 19,994 | 16,505 | 16,299 | 17,642 | 17,845 | |
| Operating Profit | 374 | 212 | 391 | 535 | 716 | 961 | 1,457 | 476 | 635 | 838 | 850 |
| OPM % | 5.27% | 2.93% | 4.40% | 5.51% | 8.65% | 7.50% | 6.79% | 2.80% | 3.75% | 4.53% | 4.55% |
| 111 | 120 | 157 | 79 | 169 | 296 | 263 | 255 | 215 | 361 | 252 | |
| Interest | 96 | 67 | 157 | 239 | 181 | 130 | 234 | 194 | 259 | 295 | 308 |
| Depreciation | 141 | 137 | 156 | 171 | 175 | 184 | 212 | 233 | 263 | 292 | 308 |
| Profit before Tax | 249 | 128 | 229 | 202 | 530 | 942 | 1,273 | 301 | 328 | 609 | 638 |
| Tax % | 27.93% | 38.54% | 41.96% | -2.59% | 27.55% | 25.43% | 24.10% | 25.20% | 26.15% | 29.86% | 29.63% |
| Net Profit | 179 | 79 | 133 | 207 | 384 | 702 | 966 | 225 | 242 | 427 | 449 |
| EPS | 3.25 | 1.43 | 2.41 | 3.75 | 6.96 | 12.73 | 17.52 | 4.08 | 4.39 | 7.75 | — |
| Dividend Payout % | 33.86% | 42.00% | 31.96% | 75.64% | 42.81% | 30.24% | 30.26% | 30.37% | 30.04% | 17.29% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 17%
- 3 Years:
- -5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 2%
- 3 Years:
- -24%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 9%
- 3 Years:
- -3%
- 1 Year:
- -27%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 12%
- 3 Years:
- 6%
- 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 | 552 | 552 | 552 | 552 | 552 | 552 | 552 | 552 | 552 | 552 |
| 2,373 | 2,378 | 2,477 | 2,627 | 2,800 | 3,330 | 4,038 | 4,054 | 4,194 | 4,570 | |
| 2,012 | 1,604 | 3,755 | 5,109 | 2,348 | 2,896 | 1,934 | 3,205 | 2,702 | 3,989 | |
| Trade Payables | 634 | 703 | 1,154 | 997 | 905 | 2,343 | 2,011 | 1,936 | 1,584 | 1,555 |
| 965 | 1,087 | 977 | 1,000 | 1,037 | 1,410 | 1,170 | 1,710 | 2,236 | 6,036 | |
| Total Liabilities | 6,536 | 6,324 | 8,914 | 10,284 | 7,642 | 10,531 | 9,705 | 11,456 | 11,267 | 16,701 |
| 1,542 | 1,905 | 1,944 | 2,124 | 2,176 | 2,129 | 2,538 | 2,553 | 2,901 | 3,289 | |
| Capital Work in Progress | 107 | 152 | 276 | 433 | 406 | 513 | 211 | 431 | 579 | 810 |
| 45 | 62 | 80 | 256 | 645 | 935 | 994 | 992 | 1,095 | 1,380 | |
| 793 | 742 | 1,479 | 950 | 787 | 2,328 | 2,585 | 2,582 | 1,586 | 1,597 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,550 | 3,101 | 4,690 | |
| Cash & Bank | 13 | 6 | 5 | 3 | 1,520 | 1,164 | 65 | 353 | 989 | 153 |
| 4,036 | 3,456 | 5,131 | 6,518 | 2,107 | 3,463 | 3,311 | 996 | 1,016 | 4,781 | |
| Total Assets | 6,536 | 6,324 | 8,914 | 10,284 | 7,642 | 10,531 | 9,705 | 11,456 | 11,267 | 16,701 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,667 | 1,106 | -1,538 | -424 | 5,323 | -374 | 1,165 | -422 | 2,364 | -471 | |
| Cash from Investing | -180 | -496 | -310 | -531 | -610 | -379 | -316 | -464 | -681 | -1,299 |
| Cash from Financing | -1,406 | -588 | 1,945 | 1,052 | -3,131 | 599 | -1,560 | 1,032 | -853 | 908 |
| 9 | -5 | -2 | -1 | 1,470 | -372 | -1,088 | 145 | 831 | -863 |
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
2026-09-04 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-03 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange regarding '2. The Register of Members and Share Transfer Books of the Company will remain closed from Saturday, September 19, 2026, to Friday, September 25, 2026 for taking record of the Members of the Company for the purpose of AGM.'.
2026-09-03 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange regarding 'E-mail Communication to members of Rashtriya Chemicals and Fertilizers Limited'.
2026-09-03 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange regarding 'BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT2025-26'.
2026-09-03 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange that Record date for the purpose of Dividend is 18-Sep-2026.
2026-09-03 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange regarding 'Intimation regarding convening of 48th Annual General Meeting (AGM), closure of register of members & share transfer books and e-voting facility'.
2026-08-31 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange regarding Appointment of Mr Rajnikant Bhulabhai Tandel as Non- Executive Independent Director of the company w.e.f. August 31, 2026.
2026-08-26 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange about General Updates
2026-08-14 - Rashtriya Chemicals and Fertilizers Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for RCF
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