Gujarat Narmada Valley Fertilizers and Chemicals Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
GNFC · price
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GNFC reported standalone PAT of Rs 797 Cr for FY26, up 36.2% from Rs 585 Cr in FY25, driven by chemicals segment profit of Rs 913 Cr (vs Rs 665 Cr) offsetting fertilizer segment losses. Revenue from operations declined marginally to Rs 7,773 Cr from Rs 7,892 Cr, with chemicals contributing Rs 4,899 Cr and fertilizers Rs 2,764 Cr. EBITDA margin improved significantly due to lower raw material costs and a sharp drop in finance costs to Rs 6 Cr from Rs 23 Cr. The board recommended a dividend of Rs 21 per share (210%), payable after shareholder approval. Statutory auditors were changed from Suresh Surana & Associates LLP to B S R and Co. for a five-year term. Auditors issued an unmodified opinion but included an Emphasis of Matter on a Rs 21,370 Cr DoT demand notice related to VSAT/ISP licenses, which the company contests as non-applicable to its core fertilizer/chemical business.
Strong profitability growth with 36% PAT increase is positive, but the Rs 21,370 Cr DoT demand (larger than total equity of Rs 8,981 Cr) remains a significant contingent risk that investors must monitor despite no provisioning.