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Rashtriya Chemicals and Fertilizers Ltd

₹ 137-0.72%
16 Jan – close price
🔗rcfltd.com•BSE: 524230•NSE: RCF
Market Cap₹ 7,559 Cr.
Current Price₹ 137
High / Low₹ 176
Stock P/E24.4
Book Value₹ 89.3
Dividend Yield0.96 %
ROCE7.47 %
ROE5.00 %
Face Value₹ 10.0
Sales₹ 16,911 Cr.
OPM4.31 %
Mar Cap₹ 7,559 Cr.

ABOUT

Rashtriya Chemicals & Fertilizers is a public sector undertaking (PSU) with 75% stake owned by GOI. Company is engaged in manufacturing and marketing of fertilizers and industrial chemicals.[1]

KEY POINTS

Business Division[1]Co. operates in two business divisions- Industrial and Fertilizers

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsPreferential IssuanceJv Partnerships AcquisitionsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Coromandel Inter2321.6032.1968469.900.52793.4421.289654.1329.8823.2028620.0110.662127.30805.335.629.900.12
2.F A C T833.70595.3854006.550.0220.8686.421629.3012.478.654674.773.8590.7120.8639.230.372.79
3.Chambal Fert.440.159.4717636.692.27648.7520.956412.7647.5526.7619477.1613.061862.50648.761.7913.810.01
4.Paradeep Phosph.138.1214.6514316.060.72341.9433.926872.2048.7813.7218974.6410.12977.47341.941.755.190.87
5.R C F136.9624.437559.240.96105.6934.475292.5823.387.4716911.184.31309.38105.691.532.060.56
6.G S F C173.9110.376927.152.88324.118.673187.3720.966.1810108.047.61668.15324.070.564.040.00
7.Natl.Fertilizer82.7438.524057.601.89-35.81-396.696763.0754.047.5720609.602.74105.35-35.811.581.661.77
–Median: 22 Co.137.5418.21438.260.1220.3948.38561.3827.8612.711952.229.884.9520.441.794.880.56

Quarterly Results

Standalone figures in ₹ crores

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
4,9575,5766,2354,6844,0434,1554,9043,8804,3964,2904,5183,7303,3715,293
Expenses
4,5235,1715,7974,4873,9144,0494,8193,6844,2804,0884,3393,5513,2135,078
Operating Profit
43340543819712910684195116202179178158214
Other Income
61223811658673744304342543951
Profit before tax
3993113552099273171221610610510175141
Tax %
26%17%32%18%26%29%36%20%34%26%24%28%28%25%
Net Profit
295257243171685210981179807354106
EPS in Rs
5.354.674.413.111.230.940.191.770.191.421.441.320.981.92

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
6,5597,6918,0997,0997,2558,8859,6988,28112,81221,45216,98116,93416,911
Expenses
5,9906,8717,6246,6806,9868,4429,1107,52711,81819,96716,45916,25316,182
Operating Profit
5708204754192684435887549941,484523681729
Other Income
726684666110426131263236204169187
Interest
1331181479664157239181130234190259218
Depreciation
142258148141137156171175184212233263278
Profit before tax
3675102652491282352035289441,274304328421
Net Profit
25032217317979139208382704967228242312
EPS in Rs
4.535.843.133.251.432.523.776.9212.7717.534.134.385.66
Dividend Payout %
33%31%35%34%42%31%75%43%30%30%30%30%–

Compounded Sales Growth

10 Years:8%
5 Years:12%
3 Years:10%
TTM:-3%

Compounded Profit Growth

10 Years:-3%
5 Years:-3%
3 Years:-27%
TTM:66%

Stock Price CAGR

10 Years:12%
5 Years:21%
3 Years:3%
1 Year:-17%

Return on Equity

10 Years:9%
5 Years:11%
3 Years:10%
Last Year:5%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
552552552552552552552552552552552552552
Reserves
1,9572,1592,2652,3732,3782,4832,6352,8053,3384,0474,0654,2034,376
Borrowings
1,7391,9562,9971,7691,3313,4624,8142,0792,9791,8773,2972,7622,778
Other Liabilities
1,3721,5641,8581,8662,0872,4522,3162,2403,6983,2673,5753,7725,602
Total Liabilities
5,6206,2307,6726,5596,3488,94810,3177,67510,5669,74211,48811,29013,308
Fixed Assets
1,6201,5001,5071,5471,9101,9502,1302,1822,1342,5432,5582,9053,082
Gross Block
4,010.994,057.581,654.441,834.882,334.382,530.212,880.463,106.653,239.453,859.284,102.514,702.28–
Accumulated Depreciation
2,391.322,557.26147.02288.04424.38580.22750.44924.891,105.761,316.661,544.591,796.86–
CWIP
7761150107152276433406513211431579737
Investments
180494562862636509421,0021,0021,1051,305
Other Assets
3,9054,6695,9664,8604,2236,6367,4904,4376,9775,9867,4976,7008,184
Total Assets
5,6206,2307,6726,5596,3488,94810,3177,67510,5669,74211,48811,29013,308

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
314227-6331,5951,078-1,636-5225,211-592787-4222,364
Cash from Investing Activity
-82-216-259-180-496-310-531-610-379-316-464-681
Cash from Financing Activity
-2084811-1,406-5881,9451,052-3,131599-1,5601,032-853
Net Cash Flow
2415-829-5-2-11,470-372-1,088145831

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
1541561951871441871716486447667
Inventory Days
9410112297901397882138809558
Days Payable
58606375821068091137617180
Cash Conversion Cycle
19119825420915122017055876310145
Working Capital Days
7378678379675471635304
ROCE %
12%14%8%7%4%7%8%10%15%21%6%7%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs
2.97%2.37%2.27%2.55%2.92%2.58%2.40%2.32%2.26%2.46%2.28%2.31%2.50%
DIIs
1.13%1.17%0.35%0.34%0.35%0.34%0.35%0.29%0.29%0.30%0.31%0.33%0.41%
Public
20.88%21.46%22.37%22.10%21.74%22.08%22.25%22.39%22.45%22.24%22.41%22.36%22.08%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

RCF Confirms SEBI Compliance for Dematerialisation Processing

6th April 2026, 6:25 pm

Supreme Court sets aside ₹32.94 crore tax, interest, and penalty orders against RCF

25th March 2026, 10:14 pm

Rashtriya Chemicals and Fertilizers Limited (RCF) receives credit rating affirmation from ICRA

24th March 2026, 10:24 pm

Rashtriya Chemicals and Fertilizers to Close Trading Window from April 1, 2026

24th March 2026, 5:04 pm

RCF Explains Delay in Income Tax Demand Disclosure

21st March 2026, 6:49 pm

Published by Other Websites

External media mentions & references

Fertiliser Stocks Rise on US-Iran Ceasefire, Supply Risks Stay

8th April 2026, 11:42 am

Fertilizer Stocks Rally as Govt Boosts Gas Supply to 90%

6th April 2026, 5:23 pm

India in Mission Mode to Secure Fertiliser Supply Amid West Asia War

4th April 2026, 11:40 pm

Trump's Iran Threat Spikes Crude Oil, Sinks Indian OMCs, Metals 4%

2nd April 2026, 3:42 pm

Iran War Fuels Global Supply Shock, Stocks Tumble Amid Inflation Fears

15th March 2026, 9:49 am

News Articles

Editorial & research coverage

Corporate Action Surge: 50+ Firms Eye Shareholder Payouts Amid Market Wobble
Corporate Action Surge: 50+ Firms Eye Shareholder Payouts Amid Market Wobble

13th February 2026, 1:31 pm

RCF Bets ₹865 Cr on Phosphoric Acid Amidst Mixed Market Signals
RCF Bets ₹865 Cr on Phosphoric Acid Amidst Mixed Market Signals

12th February 2026, 5:15 pm

Fertiliser Stocks Soar on Government Assurance: Urea Shortage Averted for Rabi Season! Find Out Why
Fertiliser Stocks Soar on Government Assurance: Urea Shortage Averted for Rabi Season! Find Out Why

16th December 2025, 10:41 am

Documents

Announcements

Announcement under Regulation 30 (LODR)-Credit Rating

2h - ICRA withdrew [ICRA]AA(Stable) on Rs.500 crore NCDs; fully redeemed; ICRA letter dated Jan 15, 2026.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 ('SEBI LODR Regulations')

1 Jan - GST demand Rs.8,57,99,275 for Apr 2018–Mar 2023; company may appeal.

Announcement under Regulation 30 (LODR)-Change in Management

1 Jan - Two GMs appointed (T. Charles, P. Dandekar) effective Jan 1, 2026; two GMs superannuated.

Change In Board Of The Company

1 Jan - Nazhat J. Shaikh appointed Chairperson and Managing Director, succeeding S C Mudgerikar, effective January 1, 2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

1d from icra

Rating update

7 Oct 2025 from care

Rating update

17 Jul 2025 from icra

Rating update

16 Jun 2025 from crisil

Rating update

25 Apr 2025 from fitch

Rating update

26 Nov 2024 from icra

Concalls

Jan 2023

PPT

Dec 2022

PPT

Stock Analysis

Description

  1. Rashtriya Chemicals & Fertilizers Limited (RCF) is a public sector undertaking (PSU) majority-owned by the Government of India. The company is primarily engaged in the manufacturing and marketing of fertilizers and industrial chemicals.

Key Growth Triggers

  1. Grant of a patent for 'A SYSTEM AND A PROCESS FOR COATING A FERTILIZER' by the Indian Patent Office, effective March 19, 2024, for 20 years, signaling innovation and potential for enhanced product efficiency.
  2. Strong recent financial performance, with Q2 FY26 PAT increasing 34.48% YoY and revenue up 23.36% YoY.
  3. Continued focus on R&D and technological advancements in fertilizer production processes.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Bombay High Court order dated December 9, 2025, mandating RCF to refund ₹218.46 crore plus interest to M/s Thermax Limited.
  2. GST order dated December 31, 2025, for a total financial impact of Rs 8.58 crore, with RCF considering an appeal.
  3. Ongoing investigation by the Competition Commission of India (CCI) following a prima facie order.

Key Dates To Watch

  1. January 16, 2026: Official grant date of the fertilizer coating patent.
  2. Ongoing: Legal review and potential actions regarding the Thermax refund order.
  3. Ongoing: Progress of the CCI investigation.

Corporate Announcements

6th Apr 26
Impact Rating: 3
Rashtriya Chemicals and Fertilizers Limited has submitted a SEBI compliance certificate confirming proper processing of dematerialisation requests for the quarter ended March 31, 2026, as confirmed by its registrar.
25th Mar 26
Impact Rating: 8
Rashtriya Chemicals and Fertilizers Limited secured a Supreme Court victory, as past tax, interest, and penalty orders amounting to ₹32.94 crore (₹9.66 cr tax, ₹18.61 cr interest, ₹4.67 cr penalty) for the period 1996-2005 have been set aside.
24th Mar 26
Impact Rating: 9
RCF announced ICRA's monitoring of its credit ratings. The agency reaffirmed ratings like AA (Stable) for fund-based and non-fund based facilities, and A1+ for commercial paper, covering over ₹9,300 crore in total.
24th Mar 26
Impact Rating: 7
Rashtriya Chemicals and Fertilizers (RCF) will enforce a trading window closure effective April 1, 2026. This restriction applies to designated persons and will last for 48 hours post-financial results.
21st Mar 26
Impact Rating: 4
RCF explained its delay in disclosing an Income Tax Demand notice, stating it was due to an officer travelling and a holiday, with prompt disclosure made on March 20, 2026, upon email access.