Gujarat Narmada Valley Fertilizers & Chemicals Limited reported FY26 revenue of ₹27,773 crore and profit after tax of ₹797 crore at its 50th Annual General Meeting. The company highlighted record annual Formic Acid sales and reaffirmed multiple expansion projects across ammonia, power, nitric acid and ammonium nitrate that are scheduled for completion between 2027 and 2028, providing investors with a clear long-term growth roadmap.
GNFC Reports ₹797 Crore FY26 Profit, Reaffirms Multi-Year Expansion
Revenue: ₹27,773 crore in FY26.
PAT: ₹797 crore with EPS of ₹54.27.
Reader Takeaway: Strong profitability supports expansion, while timely project execution remains the key monitor.
What just happened
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) shared its FY26 business performance and growth plans during its 50th Annual General Meeting held on September 16, 2026.
The company reported revenue of ₹27,773 crore, profit before tax of ₹1,065 crore and profit after tax of ₹797 crore for FY26. Earnings per share stood at ₹54.27.
Why this matters
GNFC continued to operate through a challenging global environment by adjusting plant operations and optimizing its product mix in response to raw material price volatility.
Management said cost-control measures and operational efficiency helped support performance during the year.
The company also achieved its highest-ever annual sales of Formic Acid, marking an important operational milestone.
What changes now
GNFC reaffirmed several capacity expansion projects that are expected to support future production and earnings.
Key projects include:
- Ammonia plant revamp to increase annual capacity by 50,000 metric tonnes using Topsoe technology, targeted for Q2 FY2027-28.
- An 18 MW captive power plant at Dahej with 150 MT per hour steam capacity, currently in advanced testing.
- A new Weak Nitric Acid-II plant with capacity of 600 MTPD, targeted for completion by June 2027.
- An Ammonium Nitrate-II plant with capacity of 480 MTPD being executed with Toyo Engineering India, targeted for completion by August 2027.
Management also highlighted higher production of Technical Grade Urea and Ammonium Nitrate Melt to serve demand from the automobile and mining industries.
Risks to watch
The company's long-term growth outlook depends on timely commissioning of its expansion projects and successful scale-up of the new capacities.
Raw material price volatility and execution timelines will remain important factors for investors to monitor over the next two financial years.
What to track next
Investors should watch construction progress, commissioning milestones and capacity utilization of the ammonia, nitric acid, ammonium nitrate and captive power projects as they move toward completion during FY2027 and FY2028.