Integrated Financial Results as on 31122025
RCF · price
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Awaiting price reaction for this filing.
Rashtriya Chemicals & Fertilizers (a Government of India PSU) reported Q3 FY26 standalone revenue of ₹4,236.44 cr, down ~6.2% YoY from ₹4,518.35 cr, while profit after tax rose ~2.2% to ₹81.37 cr. For 9M FY26, revenue dipped ~2.3% to ₹12,899.60 cr but PAT jumped ~42.7% to ₹241.18 cr (EPS ₹4.37 vs ₹3.06), aided by improved operating margin (4.78% vs 3.76%) and higher subsidy recognition. The Board declared an interim dividend of ₹1 per share (10%) with record date Feb 20, 2026. A major overhang: the Bombay High Court set aside a favorable arbitration award in the GTG dispute and directed RCF to refund ₹218.46 cr plus interest — about ₹29.10 cr has already been charged to finance costs this quarter, and the company is challenging the order. Additional subsidy of ₹565.79 cr (9M) above notified NBS rates and an ongoing ₹123.57 cr gas-pooling dispute with GAIL were also flagged in auditor's emphasis-of-matter.
Margin expansion and strong 9M PAT growth along with an interim dividend are positives, but the adverse High Court ruling requiring a potential ~₹218 cr refund is a clear negative overhang that may weigh on sentiment until further legal clarity emerges.