Unaudited Financial Results for the quarter ended June 30, 2025
Awaiting price reaction for this filing.
Nagarjuna Fertilizers (NFCL) reported zero revenue from operations for Q1 FY26, with a loss of Rs. 625.79 lakhs (down from a loss of Rs. 1,074.85 lakhs in Q1 FY25), translating to EPS of Rs. (0.10). The company continues to be treated as a 'not a going concern' after its core and non-core assets were sold by ACRE under the SARFAESI Act in May-June 2024, leaving no fixed assets or revenue-generating business. Current liabilities exceed current assets by Rs. 86,695.65 lakhs (standalone), and contingent liabilities stand at around Rs. 107,723.56 lakhs, mostly linked to a GAIL gas pipeline arbitration case. In March 2025, Amlika Mercantile sold its 45.44% promoter stake to Agri Vestors Private Limited at Rs. 4.31 per share, leading to a change in the company's promoter. The statutory auditor issued an Emphasis of Matter on the non-going concern status, contingent liabilities, GAIL dispute, and a related-party royalty claim from NACL.
This is effectively a non-operating, asset-less company dependent on recovering disputed claims (GAIL arbitration, government subsidies) to settle liabilities, making it a high-risk, event-driven stock rather than an operating business. Shareholders face uncertainty over any recovery value, with the promoter change at just Rs. 4.31/share indicating limited confidence in near-term revival.