Gujarat State Fertilizers & Chemicals logo

Gujarat State Fertilizers & Chemicals

GSFC NSE

Key Fundamentals

MicrocapFertilizersChemicals
Market Cap
₹6,142 Cr
Volatility
Moderate
P/E Ratio
8.97
EBITDA
₹1,067 Cr
Return on Equity
5.48%
Debt to Equity
0
Book Value
₹307.83
EPS
₹13.52
52W High
₹212.9
52W Low
₹138.83

Tapetide Score

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

Key Insights

Strengths

4
  • Company is almost debt free.
  • Stock is trading at 0.51 times its book value
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 30.5%

Weaknesses

3
  • The company has delivered a poor sales growth of 7.47% over past five years.
  • Company has a low return on equity of 4.95% over last 3 years.
  • Earnings include an other income of Rs.277 Cr.

Growth Rate

Revenue Growth
13.94% higher than 3Y
Net Income Growth
13.84% higher than 3Y
Cash Flow Change
63.08% lower than 3Y
ROE
12.53% higher than 3Y
ROCE
13.82% lower than 3Y
EBITDA Margin (Avg.)
-1.04% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk medium

Gujarat State Fertilizers & Chemicals Ltd trades at a PE of 9.6x and 0.53x book value with a market cap of Rs.6,429 Cr. The company is virtually debt-free and pays a 3.08% dividend yield, but faces challenges with low ROE of ~5% over 3 years and a 22% stock price decline over the past year.

Bull Case 8
  • Stock trades at 0.53x price-to-book, significantly below its book value, indicating potential deep value
  • Company is almost debt-free, providing financial flexibility and low interest burden in a capital-intensive sector
  • Dividend yield of 3.08% with a healthy payout ratio of 30.5%, offering consistent income to shareholders
  • PE ratio of 9.6x is low relative to broader market multiples, suggesting earnings are available at a discount
  • TTM sales growth of 15% shows recent revenue momentum after a flat 3-year CAGR of -1%
  • TTM profit growth of 13% indicates improving profitability trajectory in the near term
  • 10-year compounded profit growth of 5% and sales growth of 6% demonstrate long-term business sustainability
  • 5-year compounded profit growth of 10% outpaces 5-year sales growth of 7%, suggesting some margin expansion over the medium term
Bear Case 8
  • 3-year ROE averages only 5% and last year ROE is 6%, indicating poor capital efficiency for shareholders
  • 3-year compounded profit CAGR of -19% shows significant earnings deterioration over the medium term
  • Stock price has declined 22% over the past 1 year, reflecting weak market sentiment
  • Earnings quality is questionable as other income of Rs.287 Cr forms a material portion of profits
  • 5-year sales CAGR of only 7.47% reflects poor top-line growth for a commodities business
  • 3-year sales CAGR of -1% indicates stagnant revenue over the medium term
  • 10-year stock CAGR of only 8% suggests the stock has been a chronic underperformer over long periods
  • 3-year stock CAGR of -1% shows the market has not rewarded shareholders over the medium term despite the low valuation

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

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Neutral 1
  • GPLCL stake dropping to 11% Jun 26

    GSFC received Government of Gujarat approval to reduce its stake in subsidiary GPLCL from 60% to 11%, significantly diluting its holding in the entity.

TL;DR: Limited recent news flow for GSFC. The company is divesting most of its stake in subsidiary GPLCL with state government approval, which signals a restructuring of group holdings but has no immediate earnings impact. With only one neutral development reported, there is insufficient information to determine whether the broader trend is improving or deteriorating.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,063
3,119
2,008
1,965
2,163
2,635
2,814
1,922
2,184
3,187
2,941
2,633
3,583
Expenses
1,921
2,881
1,900
1,939
2,053
2,352
2,656
1,842
1,992
2,851
2,763
2,550
3,350
Operating Profit
142
237
108
26
110
284
158
80
193
337
178
83
233
OPM %
7%
8%
5%
1.3%
5%
11%
6%
4.2%
9%
11%
6%
3.2%
6%
Other Income
51
197
83
54
52
154
60
61
47
144
57
39
37
Interest
2
2
1
7
2
2
2
4
8
2
1
4
10
Depreciation
45
46
46
47
47
48
49
48
48
51
50
53
54
PBT
146
387
144
26
113
387
168
89
184
428
183
65
205
Tax %
23%
20%
18%
7%
22%
23%
20%
19%
25%
24%
14%
20%
23%
Net Profit
112
309
118
24
87
298
134
72
139
324
158
52
159
EPS in Rs
2.82
7.75
2.96
0.62
2.19
7.48
3.36
1.8
3.48
8.13
3.97
1.31
3.98
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5,311
6,108
5,265
6,266
8,491
7,798
7,634
9,085
11,369
9,155
9,534
10,946
12,344
Expenses
4,719
5,451
4,775
5,701
7,742
7,477
7,063
7,764
9,781
8,641
8,898
10,155
11,514
Operating Profit
592
657
489
565
749
321
571
1,321
1,588
514
636
790
830
OPM %
11%
11%
9%
9%
9%
4.1%
7%
15%
14%
6%
7%
7%
7%
Other Income
101
65
61
99
107
105
184
183
152
385
323
287
277
Interest
18
31
65
51
61
115
43
10
15
11
10
14
17
Depreciation
101
97
104
119
126
171
177
179
182
183
192
202
208
PBT
575
594
382
493
669
141
535
1,315
1,543
704
756
861
882
Tax %
30%
31%
-11%
4%
26%
22%
16%
32%
18%
20%
22%
22%
—
Net Profit
409
416
424
474
493
110
450
899
1,266
564
591
673
693
EPS in Rs
10.28
10.44
10.65
11.89
12.38
2.75
11.3
22.55
31.77
14.16
14.83
16.88
17.39
Div. Payout %
21%
21%
21%
18%
18%
44%
19%
11%
31%
28%
34%
30%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
80
80
80
80
80
80
80
80
80
80
80
80
Reserves
4,426
5,465
6,539
7,224
7,241
6,782
9,160
11,693
11,960
12,647
12,059
12,187
Borrowings
744
1,288
805
1,093
1,069
1,559
37
6
2
5
2
27
Other Liabilities
1,250
1,558
1,666
1,918
2,074
1,702
1,887
2,347
1,867
2,319
2,229
2,096
Total Liabilities
6,500
8,390
9,091
10,315
10,464
10,123
11,164
14,125
13,909
15,051
14,369
14,390
Fixed Assets
1,958
1,656
2,022
2,108
2,821
2,902
2,804
2,680
2,580
2,549
2,504
3,331
CWIP
261
405
273
763
187
107
117
158
200
236
690
192
Investments
898
1,740
2,530
2,790
2,376
2,087
4,331
6,314
5,329
6,015
5,055
4,610
Other Assets
3,383
4,590
4,266
4,654
5,079
5,026
3,912
4,973
5,801
6,251
6,119
6,257
Total Assets
6,500
8,390
9,091
10,315
10,464
10,123
11,164
14,125
13,909
15,051
14,369
14,390
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
260
-243
911
358
508
-8
1,783
237
924
-268
83
136
Investing
-134
-173
-238
-484
-281
-266
-23
-18
-39
106
-172
-46
Financing
-155
412
-656
134
-242
267
-1,559
-126
-114
-403
-159
-184
Net Cash Flow
-30
-4
17
7
-15
-7
201
92
770
-566
-247
-94
Free Cash Flow
121
-462
662
-141
209
-310
1,736
142
782
-508
-296
-172
CFO/OP
69
-11
200
77
82
16
303
35
88
-22
26
34
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
133
197
55
54
35
40
22
15
16
20
21
23
Inventory Days
71
56
82
80
106
96
75
95
70
82
89
92
Days Payable
39
54
70
76
67
30
40
55
34
50
40
34
Cash Conversion Cycle
164
199
67
58
74
105
57
55
52
52
69
81
Working Capital Days
96
102
129
105
88
96
106
116
92
84
93
154
ROCE %
12%
10%
6%
7%
9%
3%
6%
13%
13%
6%
6%
7%

Insights

Beta

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

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Shareholding Pattern

Public29.89%Govt.5.65%Promot.37.84%Others6.92%DIIs7.33%FIIs12.36%As ofJun 2026

Documents

Frequently Asked Questions about Gujarat State Fertilizers & Chemicals

What does Gujarat State Fertilizers & Chemicals Ltd do?
Incorporated in 1962, Gujarat State Fertilizers & Chemicals Ltd is a public sector company promoted by the Government of Gujarat. It is engaged in manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres [1]
Where is Gujarat State Fertilizers & Chemicals Ltd (GSFC) listed?
Gujarat State Fertilizers & Chemicals Ltd trades as GSFC on the NSE and under code 500690 on the BSE.
Which sector does Gujarat State Fertilizers & Chemicals Ltd belong to?
Gujarat State Fertilizers & Chemicals Ltd is classified under the Chemicals sector, in the Fertilizers industry.
What is the market capitalisation of Gujarat State Fertilizers & Chemicals Ltd?
Gujarat State Fertilizers & Chemicals Ltd has a market capitalisation of ₹6,142 Cr, which places it in the Mid Cap band.
What is the PE ratio of Gujarat State Fertilizers & Chemicals Ltd?
Gujarat State Fertilizers & Chemicals Ltd trades at a PE ratio of 8.97, on earnings per share of ₹13.52, against a book value of ₹307.83 per share.
What is the 52-week high and low of Gujarat State Fertilizers & Chemicals Ltd?
Over the last 52 weeks Gujarat State Fertilizers & Chemicals Ltd has traded between ₹138.83 and ₹212.9.
Does Gujarat State Fertilizers & Chemicals Ltd pay dividends?
Gujarat State Fertilizers & Chemicals Ltd has a dividend yield of 3.22%.
What is the Return on Equity (ROE) of Gujarat State Fertilizers & Chemicals Ltd?
Gujarat State Fertilizers & Chemicals Ltd reported a return on equity of 5.48%. Its debt-to-equity ratio is 0.00.

Company Information

Incorporated in 1962, Gujarat State Fertilizers & Chemicals Ltd is a public sector company promoted by the Government of Gujarat. It is engaged in manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres [1]

Website gsfclimited.com
CEO Dr. Rajender Kumar I.A.S.
Employees 2,708
Listed 1995-09-06
Face Value ₹ 2
Issued Size 39,84,77,530

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