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Gujarat Narmada Valley Fert & Chem

Gujarat Narmada Valley Fertilizers & Chemicals Ltd

GNFC NSE
₹470.70 +5.65 (+1.21%)
P/E
6.67
View as Markdown
MCP
Close 4 Nov 2026 ₹470.70 −19.60 −4.00% 1Y
Start ₹490.30

Key Fundamentals

MicrocapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
12.00%
Debt to Equity
0.00
EPS (TTM)
₹70.57
Book Value
₹634.81
Market Cap
—
P/E (TTM)
6.67
P/B
0.74
ROE
9.14%
Dividend Yield
4.52%
EBITDA
₹1,377 Cr
52W High
₹636.00
52W Low
₹365.00
Day Range
₹460.00 – ₹473.50
Volume
6,24,915

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

61 Good

Data confidence 100/100

Category scores

Quality
55
Good
Returns, margins, earnings quality 22% weight
Valuation
84
Strong
Cheap vs sector & own history 24% weight
Growth
47
Average
Sales & profit trajectory 9% weight
Financial Health
73
Strong
Solvency, leverage, coverage 9% weight
Momentum
35
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

5
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.98 times its book value
  • Stock is providing a good dividend yield of 3.45%.
  • Company has been maintaining a healthy dividend payout of 43.7%

Weaknesses

4
  • The company has delivered a poor sales growth of 8.67% over past five years.
  • Company has a low return on equity of 7.32% over last 3 years.
  • Earnings include an other income of Rs.450 Cr.
  • Working capital days have increased from 92.1 days to 157 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1234
OscillatorsBullish234
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
29.72
Bullish
MACD (12,26,9)
−27.02
Bearish
SMA (50)
569.64
Bearish
SMA (200)
507.73
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+5.50%
5Y+8.67%
3Y−8.74%
1Y−1.51%
TTM+12.55%

Net profit

Net profit growth by window
10Y+16.22%
5Y+3.03%
3Y−18.09%
1Y+35.28%
TTM+84.52%

Operating cash flow

Operating cash flow growth by window
10Y−4.12%
5Y−19.07%
3Y−21.90%
1Y+8.10%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−1.06 pp
5Y−8.25 pp
3Y−7.06 pp
1Y+3.52 pp
TTM+8.16 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹4,589 Cr
Mar 2018₹5,837 Cr
Mar 2019₹5,896 Cr
Mar 2020₹5,162 Cr
Mar 2021₹5,129 Cr
Mar 2022₹8,642 Cr
Mar 2023₹10,227 Cr
Mar 2024₹7,930 Cr
Mar 2025₹7,892 Cr
Mar 2026₹7,773 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹529 Cr
Mar 2018₹795 Cr
Mar 2019₹750 Cr
Mar 2020₹508 Cr
Mar 2021₹697 Cr
Mar 2022₹1,710 Cr
Mar 2023₹1,472 Cr
Mar 2024₹497 Cr
Mar 2025₹598 Cr
Mar 2026₹809 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

GNFC trades at a P/E of 9.6x and 0.85x book value with a market cap of Rs.7,749 Cr, offering a 3.4% dividend yield. The company is nearly debt-free but faces declining sales (3-year CAGR of -9%) and deteriorating working capital efficiency, while TTM profit grew 35% aided partly by other income of Rs.499 Cr.

Bull Case 7
  • Company is almost debt-free, reducing financial risk and interest burden in a cyclical commodity business
  • Dividend yield of 3.40% with a healthy payout ratio of 43.7%, providing consistent cash returns to shareholders
  • P/E ratio of 9.6x is significantly below broader market multiples, suggesting compressed valuation relative to earnings
  • TTM compounded profit growth of 35% shows a sharp earnings recovery from the recent trough
  • 10-year compounded profit CAGR of 16% demonstrates long-term earnings growth capability through commodity cycles
  • 10-year stock CAGR of 13% indicates sustained long-term wealth creation despite recent weakness
  • 5-year compounded sales CAGR of 9% shows the company can grow revenue across a full cycle
Bear Case 8
  • 3-year compounded sales CAGR of -9% signals a sustained revenue decline, not just a one-year blip
  • Working capital days have increased sharply from 102 to 188 days, indicating deteriorating cash conversion and potential inventory/receivables buildup
  • Earnings include other income of Rs.499 Cr, meaning core operating profit quality is weaker than headline numbers suggest
  • 3-year ROE of only 7% reflects poor capital efficiency despite being debt-free, underutilizing balance sheet capacity
  • 3-year compounded profit CAGR of -18% shows a significant earnings erosion over the medium term
  • 1-year stock return of -5% and 3-year CAGR of -4% indicate persistent negative market sentiment
  • Last year ROE of 9% remains well below the 10-year average of 13%, suggesting the business has not returned to normalised profitability
  • TTM sales growth of -2% shows revenue contraction continues into the most recent period

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Limited recent news flow for GNFC. The only development is a routine executive re-appointment, signaling stable management continuity. No material positives or headwinds emerged in this period. Watch for upcoming quarterly results and fertilizer subsidy policy updates for directional cues.

Neutral 1
  • ED re-appointed for six months Jun 12

    GNFC re-appointed Pankaj Kanaiyalal Purohit as Executive Director for a six-month term starting June 12, 2026, ensuring management continuity.

Quarterly Results

₹ Cr
GNFC quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
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
2,773
Expenses
1,547
1,911
2,004
1,965
1,868
1,827
1,767
1,815
1,570
1,783
1,815
1,726
1,845
2,576
Operating Profit
105
169
84
145
153
90
132
240
31
185
181
482
393
197
OPM %
6%
8%
4%
7%
8%
4.7%
7%
12%
1.9%
9%
9%
22%
18%
7%
Other Income
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
1
Depreciation
76
78
76
78
78
76
75
74
74
81
73
79
76
83
PBT
116
242
122
171
157
135
211
287
105
230
204
526
416
—
Tax %
27%
26%
22%
26%
27%
24%
25%
27%
26%
23%
26%
25%
25%
—
Net Profit
88
182
97
130
118
105
163
211
83
179
150
396
312
194
EPS (₹)
5.66
11.71
6.6
8.85
8.03
7.15
11.09
14.36
5.65
12.18
10.21
26.95
21.23
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
GNFC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,642
4,552
4,589
5,837
5,896
5,162
5,129
8,642
10,227
7,930
7,892
7,773
8,410
Expenses
4,662
3,989
4,228
4,445
5,022
4,621
4,125
6,259
8,348
7,428
7,277
6,895
7,169
Operating Profit
−21
563
361
1,392
874
542
1,003
2,384
1,879
502
615
879
1,241
OPM %
−0.4%
12%
8%
24%
15%
10%
20%
28%
18%
6%
8%
11%
15%
Other Income
52
252
809
140
215
153
237
209
361
469
501
499
450
Interest
274
297
203
100
6
5
20
3
5
13
23
6
6
Depreciation
209
251
251
270
263
264
272
292
303
308
303
307
309
PBT
−452
268
715
1,162
819
425
948
2,298
1,932
651
790
1,065
1,376
Tax %
0%
35%
27%
32%
10%
−17%
27%
26%
24%
26%
26%
25%
—
Net Profit
−443
180
529
795
750
508
697
1,710
1,472
497
598
809
1,037
EPS (₹)
−28.5
11.57
34.02
51.15
48.24
32.69
44.84
110
94.68
33.83
40.68
55.03
70.57
Div. Payout %
0%
17%
15%
15%
15%
15%
18%
9%
32%
49%
44%
38%
—

Balance Sheet

₹ Cr
GNFC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
155
155
155
155
155
155
155
155
155
147
147
147
Reserves
2,364
3,168
3,700
4,362
4,909
5,144
5,913
7,835
8,950
8,162
8,429
8,968
Borrowings
3,844
3,101
1,959
303
208
860
4
2
2
3
106
5
Other Liabilities
2,164
2,130
2,142
2,411
2,337
2,261
2,321
2,764
2,613
2,405
2,366
2,282
Total Liabilities
8,527
8,555
7,956
7,231
7,609
8,421
8,394
10,755
11,720
10,717
11,047
11,403
Fixed Assets
4,468
4,367
4,442
4,161
3,959
3,810
3,720
3,578
3,381
3,238
3,094
2,882
CWIP
13
9
14
14
25
82
161
138
187
289
382
900
Investments
184
775
816
785
799
673
938
1,313
3,205
3,030
2,304
1,693
Other Assets
3,861
3,404
2,683
2,271
2,826
3,856
3,575
5,727
4,946
4,160
5,268
5,928
Total Assets
8,527
8,555
7,956
7,231
7,609
8,421
8,394
10,755
11,720
10,717
11,047
11,403

Cash Flow

₹ Cr
GNFC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
490
996
1,445
1,819
701
286
1,884
1,967
1,373
31
605
654
Investing
−284
36
−53
49
−310
−901
−856
−1,899
−1,229
1,235
−466
−230
Financing
−363
−1,037
−1,073
−1,400
−185
546
−934
−130
−160
−1,281
−262
−269
Net Cash Flow
−156
−5
320
468
206
−69
95
−62
−16
−14
−123
155
Free Cash Flow
207
931
1,358
1,850
603
155
1,669
1,829
1,202
−218
154
108
CFO/OP
−2,423
179
422
146
93
62
210
109
104
49
128
111

Ratios

GNFC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
107
119
88
70
77
100
36
26
13
29
20
30
Inventory Days
98
107
110
98
106
125
129
91
84
94
105
95
Days Payable
39
40
57
61
50
68
63
59
42
42
40
41
Cash Conversion Cycle
166
186
142
107
132
156
103
58
55
81
84
85
Working Capital Days
9
8
27
57
76
117
68
97
46
58
61
157
ROCE %
—
9%
10%
24%
16%
8%
16%
33%
23%
8%
10%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Gujarat Narmada Valley Fert & Chem insights

70 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 41.30%
  • Public 27.06%
  • FIIs 13.70%
  • DIIs 9.21%
  • Others 8.73%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Gujarat Narmada Valley Fert & Chem

What does Gujarat Narmada Valley Fertilizers & Chemicals Ltd do?
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…
Where is Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) listed?
Gujarat Narmada Valley Fertilizers & Chemicals Ltd trades as GNFC on the NSE and under code 500670 on the BSE.
Which sector does Gujarat Narmada Valley Fertilizers & Chemicals Ltd belong to?
Gujarat Narmada Valley Fertilizers & Chemicals Ltd is classified under the Chemicals sector, in the Commodity Chemicals industry.
What is the PE ratio of Gujarat Narmada Valley Fertilizers & Chemicals Ltd?
Gujarat Narmada Valley Fertilizers & Chemicals Ltd trades at a PE ratio of 6.67 as of 4 Nov 2026, on earnings per share of ₹70.57, against a book value of ₹634.81 per share.
What is the 52-week high and low of Gujarat Narmada Valley Fertilizers & Chemicals Ltd?
Over the last 52 weeks Gujarat Narmada Valley Fertilizers & Chemicals Ltd has traded between ₹365 and ₹636 as of 4 Nov 2026.
Does Gujarat Narmada Valley Fertilizers & Chemicals Ltd pay dividends?
Gujarat Narmada Valley Fertilizers & Chemicals Ltd has a dividend yield of 4.52%.
What is the Return on Equity (ROE) of Gujarat Narmada Valley Fertilizers & Chemicals Ltd?
Gujarat Narmada Valley Fertilizers & Chemicals Ltd reported a return on equity of 9.14%. Its debt-to-equity ratio is 0.00.

Company Information

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.

Website gnfc.in
CEO Mr. Rajkumar Beniwal I.A.S.
Employees 1,997
Listed 17 May 1995
Face Value ₹10

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