Skip to content
Rashtriya Chemicals & Fertilizers logo

Rashtriya Chemicals & Fertilizers

RCF NSE
₹100.61 +3.24 (+3.33%)
P/E
12.44
View as Markdown
MCP
Close 4 Nov 2026 ₹100.61 −46.10 −31.4% 1Y
Start ₹146.71

Key Fundamentals

MicrocapFertilizers & AgrochemicalsChemicals

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

ROCE
10.40%
Debt to Equity
0.81
EPS (TTM)
₹8.09
Book Value
₹92.83
Market Cap
—
P/E (TTM)
12.44
P/B
1.08
ROE
7.84%
Dividend Yield
2.40%
EBITDA
₹1,152 Cr
52W High
₹157.20
52W Low
₹93.11
Day Range
₹97.10 – ₹101.00
Volume
11,21,019

Peer Comparison

Commodities › Chemicals › Fertilizers

Rashtriya Chemicals & Fertilizers peer comparison
Coromandel International
₹1,837.0029.58₹53,760 Cr4.320.61%16.40%22.00%₹32,602 Cr₹1,778 Cr
Fertilisers & Chemical Travancore
₹764.05—₹48,951 Cr36.610.03%−2.94%4.02%₹5,934 Cr−₹106 Cr
Chambal Fertilisers & Chemicals
₹394.158.19₹15,752 Cr1.521.31%20.00%25.20%₹20,123 Cr₹1,928 Cr
Paradeep Phosphates
₹137.2112.23₹14,054 Cr1.991.12%16.20%15.40%₹23,447 Cr₹1,073 Cr
Madhya Bharat Agro
₹187.2953.06₹8,452 Cr10.110.27%31.30%19.30%₹1,874 Cr₹155 Cr
Krishana Phoschem
₹240.2937.78₹7,305 Cr13.250.22%38.20%27.20%₹2,555 Cr₹196 Cr
Gujarat State Fertilizers & Chemicals
₹140.748.09₹5,467 Cr0.433.67%5.51%7.16%₹12,344 Cr₹693 Cr
Rashtriya Chemicals & Fertilizers (this company)
₹100.6112.44₹5,453 Cr1.082.40%7.84%10.40%₹18,695 Cr₹447 Cr
Median 8 companies₹213.7912.44₹11,253 Cr3.160.87%16.30%17.35%₹15,520 Cr₹570 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

40 Weak

Data confidence 100/100

Category scores

Quality
23
Poor
Returns, margins, earnings quality 22% weight
Valuation
72
Strong
Cheap vs sector & own history 24% weight
Growth
61
Good
Sales & profit trajectory 9% weight
Financial Health
21
Poor
Solvency, leverage, coverage 9% weight
Momentum
15
Poor
Trend strength, vol-adjusted 12% weight
Ownership
33
Poor
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

2
  • Stock is trading at 1.10 times its book value
  • Company has been maintaining a healthy dividend payout of 30.2%

Weaknesses

1
  • Company has a low return on equity of 5.69% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish865
OscillatorsBearish261
Moving AveragesStrong Bearish604

Key readings

RSI (14)
47.03
Neutral
MACD (12,26,9)
−3.21
Bullish
SMA (50)
107.60
Bearish
SMA (200)
122.49
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+8.41%
5Y+17.42%
3Y−4.85%
1Y+9.13%
TTM+17.52%

Net profit

Net profit growth by window
10Y+9.71%
5Y+2.15%
3Y−23.82%
1Y+76.45%
TTM+56.84%

Operating cash flow

Operating cash flow growth by window
10YOutflow narrowed by ₹162 Cr
5YTurned negative
3YTurned negative
1YTurned negative
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−0.59 pp
5Y−3.94 pp
3Y−1.74 pp
1Y+1.15 pp
TTM+0.83 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹7,099 Cr
Mar 2018₹7,255 Cr
Mar 2019₹8,885 Cr
Mar 2020₹9,698 Cr
Mar 2021₹8,281 Cr
Mar 2022₹12,812 Cr
Mar 2023₹21,452 Cr
Mar 2024₹16,981 Cr
Mar 2025₹16,934 Cr
Mar 2026₹18,480 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹179 Cr
Mar 2018₹79.00 Cr
Mar 2019₹133 Cr
Mar 2020₹207 Cr
Mar 2021₹384 Cr
Mar 2022₹702 Cr
Mar 2023₹966 Cr
Mar 2024₹225 Cr
Mar 2025₹242 Cr
Mar 2026₹427 Cr

AI Analysis — Bull vs Bear

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

Rashtriya Chemicals & Fertilizers Ltd is a government-owned Navratna fertilizer company trading at a P/E of 17.2 and P/B of 1.43, with a market cap of approximately ₹7,287 crore. The company posted FY25 consolidated revenue of ~₹16,934 crore (9% YoY sales growth) and net profit of ₹242 crore (68% TTM profit growth), but its 3-year compounded profit CAGR remains negative at -24%, reflecting earnings volatility tied to subsidy flows and input costs.

Bull Case 7
  • TTM profit growth of 68% signals a strong recovery in earnings after a period of decline, with FY25 net profit at ₹242 crore
  • Revenue grew 9% YoY in FY25 to ₹16,934 crore, reversing the 3-year compounded sales decline of -5%
  • Navratna PSU status with 75% government promoter holding provides institutional backing and reduces governance risk
  • 10-year compounded sales CAGR of 8% and profit CAGR of 9% demonstrate long-term business durability through commodity cycles
  • ICRA AA (Stable) credit rating affirmed on non-convertible debentures of ₹1,200 crore, indicating strong balance sheet credibility
  • Healthy dividend payout ratio of 25.9% with current dividend yield of 0.75%, providing some income floor for investors
  • FY26 government fertilizer subsidy budget of ~₹1.7 lakh crore supports continued revenue visibility for urea and complex fertilizer sales
Bear Case 8
  • 3-year return on equity of just 5.8% (and 3-year average ROE of 6%) indicates poor capital efficiency relative to equity base of ~₹4,755 crore
  • 3-year compounded profit CAGR of -24% reflects severe earnings erosion despite top-line stability, driven by subsidy delays and gas cost volatility
  • Stock has declined 15% over the past 1 year, underperforming the broader market and reflecting investor skepticism
  • Total debt of approximately ₹2,752 crore against equity, with debt-to-equity around 0.58-0.81, adds interest burden on already thin margins
  • Supreme Court ordered ₹218 crore refund (including interest) to Thermax Ltd, representing a material one-time cash outflow relative to FY25 profit of ₹242 crore
  • 5-year compounded profit CAGR of just 1% despite 17% sales CAGR over the same period shows margin compression and inability to translate revenue into earnings
  • Budget FY26 fertilizer subsidy allocation was lower than FY25 revised estimates, signaling potential fiscal tightening that could pressure receivables
  • Being a PSU, RCF has limited pricing power on urea (government-controlled MRP) and remains dependent on subsidy reimbursement timelines

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

AI News Digest

121d ago

TL;DR: Recent RCF news is purely operational with no clear bullish or bearish catalysts. The potential FPO is the most significant development — it could bring dilution risk if approved but also signals government intent to unlock value. Leadership transition appears routine. Investors should watch the July 7 board outcome for clarity on equity dilution and pricing.

Neutral 3
  • Board to consider FPO Jul 7 Jul 1

    RCF board meeting on July 7, 2026 to consider a Further Public Offer of equity shares, subject to shareholder and government approvals. Trading window closed for designated persons since June 25.

  • New Executive Director appointed Jul 1

    Sanjeev Haralikar appointed as Executive Director (Trombay) effective July 1, 2026, replacing Sunetra Kamble who superannuated as ED (Marketing & Commercial) on the same date.

  • NCD interest record date set Jun 20

    Record date of July 17, 2026 fixed for interest payment on Rs.300 Crore NCDs, with payment scheduled for August 7, 2026.

Quarterly Results

₹ Cr
RCF quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,043
4,155
4,904
3,880
4,396
4,290
4,518
3,730
3,371
5,293
4,236
5,581
3,586
Expenses
3,914
4,050
4,819
3,687
4,280
4,088
4,339
3,551
3,213
5,079
3,992
5,258
3,367
Operating Profit
129
105
84
193
116
202
179
178
158
214
244
322
219
OPM %
3.2%
2.5%
1.7%
5%
2.6%
4.7%
4%
4.8%
4.7%
4%
6%
6%
6%
Other Income
58
67
37.34
44
30
43
42.17
54
39
51
52
113
35
Interest
39
44
48
52
70
76
53
54
56
55
103
79
71
Depreciation
56
56
56
64
60
62
63
78
66
70
75
80
83
PBT
92
72.79
17
120
16
106
105
100
75
141
118
278
101
Tax %
26%
29%
35%
21%
34%
26%
24%
28%
28%
25%
31%
32%
28%
Net Profit
68
51
11
95
11
79
80
72
54
105
81
187
74
EPS (₹)
1.23
0.92
0.2
1.73
0.2
1.43
1.45
1.31
0.99
1.91
1.47
3.38
1.33

Profit & Loss

₹ Cr
RCF profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
7,694
8,241
7,099
7,255
8,885
9,698
8,281
12,812
21,452
16,981
16,934
18,480
18,695
Expenses
6,840
7,766
6,680
6,986
8,448
9,111
7,527
11,820
19,968
16,461
16,253
17,524
17,696
Operating Profit
853
475
419
268
437
586
754
992
1,483
520
681
956
1,000
OPM %
11%
6%
6%
3.7%
4.9%
6%
9%
8%
7%
3.1%
4%
5%
5%
Other Income
66
81
66
61
104
26
133
263
236
204
169
241
252
Interest
123
147
96
64
157
239
181
130
234
190
259
293
308
Depreciation
263
148
141
137
156
171
175
184
212
233
263
292
308
PBT
533
262
249
128
229
202
530
942
1,273
301
328
612
636
Tax %
35%
35%
28%
39%
42%
−3%
28%
25%
24%
25%
26%
30%
—
Net Profit
346
169
179
79
133
207
384
702
966
225
242
427
447
EPS (₹)
6.27
3.06
3.25
1.43
2.41
3.75
6.96
12.73
17.52
4.08
4.39
7.75
8.09
Div. Payout %
29%
36%
34%
42%
32%
76%
43%
30%
30%
30%
30%
30%
—

Balance Sheet

₹ Cr
RCF balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
552
552
552
552
552
552
552
552
552
552
552
552
Reserves
2,165
2,265
2,373
2,378
2,477
2,627
2,800
3,330
4,038
4,054
4,194
4,570
Borrowings
2,000
2,997
1,769
1,331
3,462
4,814
2,079
2,979
1,877
3,297
2,762
4,128
Other Liabilities
1,569
1,858
1,866
2,087
2,452
2,316
2,240
3,698
3,267
3,575
3,772
7,461
Total Liabilities
6,285
7,672
6,559
6,348
8,942
10,309
7,669
10,558
9,734
11,477
11,280
16,711
Fixed Assets
1,552
1,507
1,547
1,910
1,950
2,130
2,182
2,134
2,543
2,558
2,905
3,294
CWIP
62
150
107
152
276
433
406
513
211
431
579
810
Investments
0
49
45
62
80
256
645
935
994
992
1,095
1,380
Other Assets
4,672
5,966
4,860
4,223
6,636
7,490
4,437
6,977
5,986
7,497
6,700
11,226
Total Assets
6,285
7,672
6,559
6,348
8,942
10,309
7,669
10,558
9,734
11,477
11,280
16,711

Cash Flow

₹ Cr
RCF cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
212
−633
1,595
1,078
−1,636
−522
5,211
−592
787
−422
2,364
−471
Investing
−201
−259
−180
−496
−310
−531
−610
−379
−316
−464
−681
−1,299
Financing
3
811
−1,406
−588
1,945
1,052
−3,131
599
−1,560
1,032
−853
908
Net Cash Flow
14
−82
9
−5
−2
−1
1,470
−372
−1,088
145
831
−863
Free Cash Flow
5
−900
1,409
584
−1,934
−948
4,970
−752
402
−840
1,538
−1,545
CFO/EBITDA
54
−111
398
412
−352
−72
706
−38
79
−68
356
−38

Ratios

RCF financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
156
192
187
144
187
171
64
86
44
76
67
93
Inventory Days
101
122
97
90
139
78
82
138
80
95
58
52
Days Payable
60
63
75
82
106
80
91
137
61
71
57
50
Cash Conversion Cycle
198
251
209
151
220
170
55
87
63
101
67
94
Working Capital Days
78
66
83
79
67
54
7
16
35
30
4
27
ROCE %
15%
8%
7%
4%
7%
8%
11%
15%
21%
6%
7%
10%

Insights

Beta

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

Log in to view Rashtriya Chemicals & Fertilizers insights

64 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 75.00%
  • Public 20.44%
  • Others 2.84%
  • FIIs 1.40%
  • DIIs 0.32%

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

  • Concall · Jan 2023
    PPT
  • Concall · Dec 2022
    PPT

Frequently Asked Questions about Rashtriya Chemicals & Fertilizers

What does Rashtriya Chemicals & Fertilizers Ltd do?
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.
Where is Rashtriya Chemicals & Fertilizers Ltd (RCF) listed?
Rashtriya Chemicals & Fertilizers Ltd trades as RCF on the NSE and under code 524230 on the BSE.
Which sector does Rashtriya Chemicals & Fertilizers Ltd belong to?
Rashtriya Chemicals & Fertilizers Ltd is classified under the Chemicals sector, in the Fertilizers industry.
What is the PE ratio of Rashtriya Chemicals & Fertilizers Ltd?
Rashtriya Chemicals & Fertilizers Ltd trades at a PE ratio of 12.44 as of 4 Nov 2026, on earnings per share of ₹8.09, against a book value of ₹92.83 per share.
What is the 52-week high and low of Rashtriya Chemicals & Fertilizers Ltd?
Over the last 52 weeks Rashtriya Chemicals & Fertilizers Ltd has traded between ₹93.11 and ₹157.2 as of 4 Nov 2026.
Does Rashtriya Chemicals & Fertilizers Ltd pay dividends?
Rashtriya Chemicals & Fertilizers Ltd has a dividend yield of 2.40%.
What is the Return on Equity (ROE) of Rashtriya Chemicals & Fertilizers Ltd?
Rashtriya Chemicals & Fertilizers Ltd reported a return on equity of 7.84%. Its debt-to-equity ratio is 0.81.

Company Information

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.

Website rcfltd.com
Listed 7 Jan 1998
Face Value ₹10

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/RCF.md for Rashtriya Chemicals & Fertilizers Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Fertilizer & Agrochemical stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month