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เชเซเชเชฐเชพเชค เชจเชฐเซเชฎเชฆเชพ เชตเซเชฒเซ เชซเชฐเซเชเชฟเชฒเชพเชเชเชฐเซเชธ เชเชจเซเชก เชเซเชฎเชฟเชเชฒเซเชธ (GNFC) เช เชคเซเชจเชพ เชเชฎเซเชจเชฟเชฏเชฎ เชจเชพเชเชเซเชฐเซเช (AN) เชฎเซเชฒเซเช เชชเซเชฐเซเชเซเชเซเชเชฎเชพเช 163,000 MTPA เชจเซ เชจเชตเซ เชเซเชทเชฎเชคเชพ เชเชฎเซเชฐเชตเชพ เชฎเชพเชเซ เชฎเชเชเซเชฐเซ เชเชชเซ เชเซ. เช 94% เชจเซ เชตเชงเชพเชฐเซ เชเซเชฒเชพเช 2027 เชธเซเชงเซเชฎเชพเช เชเซเชฒ AN เชฎเซเชฒเซเช เชเชชเชฒเชฌเซเชงเชคเชพเชจเซ 338,000 MTPA เชธเซเชงเซ เชฒเช เชเชถเซ. เช เชชเชเชฒเซเช GNFC เชจเซ เชญเชพเชฐเชคเชจเชพ เชฎเชนเชคเซเชตเชชเซเชฐเซเชฃ เชฎเชพเชเชจเชฟเชเช เช เชจเซ เชเชจเซเชซเซเชฐเชพเชธเซเชเซเชฐเชเซเชเชฐ เชเซเชทเซเชคเซเชฐเซ เชฎเชพเชเซ เชเช เชฎเซเชเซเชฏ เชธเชชเซเชฒเชพเชฏเชฐ เชคเชฐเซเชเซ เชธเซเชฅเชพเชชเชฟเชค เชเชฐเชถเซ, เชเซเชฎเชพเช เชจเซเชเชงเชชเชพเชคเซเชฐ เชฎเซเชกเซ เชเชฐเซเชเชจเซ เชฏเซเชเชจเชพเช เชเซ.
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), is a joint sector enterprise promoted by the Gujarat State Investments Limited (GSIL), a Government of Gujarat undertaking, and the Gujarat State Fertilizers & Chemicals Ltd.(GSFC). The company was set up in Bharuch in 1976 while its manufacturing and marketing operations were started in 1982. The company operates businesses mainly in the Industrial Chemicals, Fertilizers apart from the small presence of IT services. In the chemical segment, it has a product portfolio of various bulk chemicals that are used in industries for manufacturing various specialty chemicals as well as end products.
Business Segments1) Chemicals (60% in H1 FY25 vs 70% in FY22):[1][2]The company produces Methanol, Formic Acid, Acetic Acid, Toluene Di- Isocyanate (TDI), Technical Grade Urea (TGU), Weak Nitric Acid, Concentrated Nitric Acid, Ethyl Acetate, and Ammonium Nitrate. The segment revenue declined 29% between FY22 and FY24, driven by lower realizations across all the products.[3][4]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market 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 value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SRF | 2838.40 | 52.01 | 84125.42 | 0.25 | 388.18 | 92.72 | 3640.19 | 6.30 | 12.27 | 15263.46 | 20.84 | 1617.64 | 388.18 | 6.34 | 5.95 | 0.35 |
| 2. | Tata Chemicals | 810.00 | 63.33 | 20635.56 | 1.36 | 154.00 | -49.38 | 3877.00 | -3.05 | 3.96 | 14695.00 | 13.25 | 325.83 | 98.21 | 0.92 | 1.16 | 0.34 |
| 3. | Deepak Fertilis. | 1418.50 | 18.20 | 17910.55 | 0.70 | 214.02 | 1.48 | 3005.83 | 9.43 | 15.67 | 10910.95 | 17.81 | 984.32 | 213.20 | 2.75 | 7.47 | 0.68 |
| 4. | G N F C | 492.30 | 11.61 | 7230.95 | 3.66 | 177.00 | 73.53 | 1968.00 | 2.66 | 9.70 | 7523.00 | 7.82 | 623.00 | 177.00 | 0.85 | 5.44 | 0.00 |
| 5. | Blue Pearl Agri | 99.75 | 10362.99 | 6010.54 | 0.00 | 0.28 | -22.22 | 12.44 | 66.76 | 2.57 | 45.94 | 1.48 | 0.58 | 0.28 | 98.52 | 2.06 | 0.00 |
| 6. | GHCL | 595.50 | 10.04 | 5715.91 | 2.02 | 106.70 | -31.09 | 721.29 | -9.02 | 24.19 | 3077.36 | 26.08 | 569.50 | 106.70 | 1.57 | 15.10 | 0.03 |
| 7. | Chemplast Sanmar | 308.45 | โ | 4845.51 | 0.00 | -51.04 | -63.28 | 1033.20 | 4.07 | 1.83 | 4341.53 | 2.97 | -218.28 | -51.04 | 2.50 | -1.78 | 0.97 |
| โ | Median: 38 Co. | 269.23 | 20.98 | 753.87 | 0.26 | 8.3 | 0.73 | 159.19 | 3.46 | 9.57 | 610.99 | 10.66 | 29.24 | 8.3 | 1.57 | 4.85 | 0.16 |
Standalone figures in โน crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,587 | 2,673 | 2,271 | 1,652 | 2,080 | 2,088 | 2,110 | 2,021 | 1,917 | 1,899 | 2,055 | 1,601 | 1,968 |
Expenses | 2,278 | 2,235 | 1,902 | 1,547 | 1,911 | 2,004 | 1,965 | 1,868 | 1,827 | 1,767 | 1,815 | 1,570 | 1,783 |
Operating Profit | 309 | 438 | 369 | 105 | 169 | 84 | 145 | 153 | 90 | 132 | 240 | 31 | 185 |
Other Income | 85 | 77 | 123 | 88 | 152 | 121 | 108 | 99 | 123 | 157 | 122 | 150 | 127 |
Profit before tax | 316 | 438 | 417 | 116 | 242 | 122 | 171 | 157 | 135 | 211 | 287 | 105 | 230 |
Tax % | 25% | 26% | 20% | 27% | 26% | 22% | 26% | 27% | 24% | 25% | 27% | 26% | 23% |
Net Profit | 237 | 324 | 334 | 85 | 178 | 95 | 127 | 115 | 102 | 158 | 210 | 78 | 177 |
EPS in Rs | 15.25 | 20.85 | 21.49 | 5.47 | 11.45 | 6.47 | 8.64 | 7.83 | 6.94 | 10.75 | 14.29 | 5.31 | 12.05 |
Standalone Figures in โน Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 4,847 | 4,642 | 4,552 | 4,589 | 5,837 | 5,896 | 5,162 | 5,129 | 8,642 | 10,227 | 7,930 | 7,892 | 7,523 |
Expenses | 4,231 | 4,662 | 3,989 | 3,936 | 4,445 | 5,022 | 4,621 | 4,125 | 6,259 | 8,348 | 7,428 | 7,277 | 6,935 |
Operating Profit | 616 | -21 | 563 | 653 | 1,392 | 874 | 542 | 1,003 | 2,384 | 1,879 | 502 | 615 | 588 |
Other Income | 45 | 52 | 252 | 517 | 140 | 215 | 153 | 237 | 209 | 361 | 469 | 501 | 556 |
Interest | 92 | 274 | 297 | 203 | 100 | 6 | 5 | 20 | 3 | 5 | 13 | 23 | 7 |
Depreciation | 145 | 209 | 251 | 251 | 270 | 263 | 264 | 272 | 292 | 303 | 308 | 303 | 304 |
Profit before tax | 424 | -452 | 268 | 715 | 1,162 | 819 | 425 | 948 | 2,298 | 1,932 | 651 | 790 | 833 |
Net Profit | 292 | -452 | 173 | 521 | 790 | 741 | 499 | 689 | 1,704 | 1,464 | 485 | 586 | 623 |
EPS in Rs | 18.81 | -29.09 | 11.11 | 33.54 | 50.80 | 47.69 | 32.10 | 44.35 | 109.62 | 94.20 | 32.99 | 39.85 | 42.40 |
Dividend Payout % | 19% | 0% | 18% | 15% | 15% | 15% | 16% | 18% | 9% | 32% | 50% | 45% | โ |
Standalone figures in โน crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 155 | 155 | 155 | 155 | 155 | 155 | 155 | 155 | 155 | 155 | 147 | 147 | 147 |
Reserves | 2,790 | 2,325 | 3,122 | 3,646 | 4,303 | 4,842 | 5,067 | 5,828 | 7,743 | 8,851 | 8,051 | 8,305 | 8,371 |
Borrowings | 3,904 | 3,844 | 3,101 | 1,959 | 303 | 208 | 860 | 4 | 2 | 2 | 3 | 106 | 13 |
Other Liabilities | 2,420 | 2,164 | 2,130 | 2,142 | 2,411 | 2,337 | 2,261 | 2,321 | 2,764 | 2,613 | 2,405 | 2,366 | 2,203 |
Total Liabilities | 9,270 | 8,488 | 8,509 | 7,903 | 7,172 | 7,542 | 8,344 | 8,309 | 10,664 | 11,621 | 10,606 | 10,924 | 10,734 |
Fixed Assets | 4,873 | 4,468 | 4,367 | 4,442 | 4,161 | 3,959 | 3,810 | 3,720 | 3,578 | 3,381 | 3,238 | 3,094 | 2,981 |
Gross Block | 7,359.67 | 7,569.69 | 7,698.59 | 7,736.09 | 7,675.57 | 7,724.22 | 7,827.86 | 7,979.40 | 8,112.23 | 8,166.02 | 8,288.97 | 8,426.93 | โ |
Accumulated Depreciation | 2,486.18 | 3,101.58 | 3,331.94 | 3,293.87 | 3,514.45 | 3,765.31 | 4,017.40 | 4,259.05 | 4,533.99 | 4,784.67 | 5,051.37 | 5,333.43 | โ |
CWIP | 23 | 13 | 9 | 14 | 14 | 25 | 82 | 161 | 138 | 187 | 289 | 382 | 754 |
Investments | 132 | 145 | 729 | 762 | 726 | 732 | 596 | 853 | 1,222 | 3,106 | 2,919 | 2,181 | 2,240 |
Other Assets | 4,241 | 3,861 | 3,404 | 2,683 | 2,271 | 2,826 | 3,856 | 3,575 | 5,727 | 4,946 | 4,160 | 5,268 | 4,759 |
Total Assets | 9,270 | 8,488 | 8,509 | 7,903 | 7,172 | 7,542 | 8,344 | 8,309 | 10,664 | 11,621 | 10,606 | 10,924 | 10,734 |
Standalone Figures in โน Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 11 | 490 | 996 | 1,445 | 1,819 | 701 | 286 | 1,884 | 1,967 | 1,373 | 31 | 605 |
Cash from Investing Activity | -394 | -284 | 36 | -53 | 49 | -310 | -901 | -856 | -1,899 | -1,229 | 1,235 | -466 |
Cash from Financing Activity | 334 | -363 | -1,037 | -1,073 | -1,400 | -185 | 546 | -934 | -130 | -160 | -1,281 | -262 |
Net Cash Flow | -48 | -156 | -5 | 320 | 468 | 206 | -69 | 95 | -62 | -16 | -14 | -123 |
Standalone Figures in โน Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 110 | 107 | 119 | 88 | 70 | 77 | 100 | 36 | 26 | 13 | 29 | 20 |
Inventory Days | 99 | 98 | 107 | 110 | 98 | 106 | 125 | 129 | 91 | 84 | 94 | 105 |
Days Payable | 35 | 39 | 40 | 57 | 61 | 50 | 68 | 63 | 59 | 42 | 42 | 40 |
Cash Conversion Cycle | 173 | 166 | 186 | 142 | 107 | 132 | 156 | 103 | 58 | 55 | 81 | 84 |
Working Capital Days | -7 | 9 | 8 | 27 | 57 | 76 | 117 | 68 | 97 | 46 | 58 | 61 |
ROCE % | 8% | -3% | 9% | 10% | 24% | 17% | 8% | 16% | 33% | 23% | 8% | 10% |
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