Manufactures and sells fertilizers — urea, bentonite sulphur and bio-fertilizers — to the agriculture sector, with this segment contributing 60.2% of FY26 segment revenue at Rs 12,958.13 crore. Also imports and trades fertilizers under the government's Nutrient Based Subsidy (NBS) scheme (DAP and TSP), making up 29.8% of segment revenue at Rs 6,413.83 crore. A smaller manufactured chemicals line (industrial products and agro-chemicals) contributes 2.4% at Rs 523.79 crore, while domestic traded agro inputs and related sale services add another 8.4% at Rs 1,807.57 crore. The largest input cost is materials at 31.5% of revenue, with employee cost at 2.9% and other operating expenses at 29.1%. During FY26, the company recognised subsidy income of Rs 1,479.97 crore on DAP and TSP fertilisers under Department of Fertilizers guidelines. It is a Government of India Navratna PSU operating under the Ministry of Chemicals & Fertilizers. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufactured Fertilizers (60%), Traded Imported Fertilizers (Under NBS) (30%), Others - Domestic Traded Products, Agro Inputs, Sale Services (8%), Manufactured Chemicals (2%). Asset-heavy, subsidy-dependent fertiliser manufacturer and importer
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 15,857 | 29,617 | 23,560 | 19,795 | 21,514 |
| EBITDA (ex other income) | 578 | 1,072 | 618 | 608 | 834 |
| margin % | 3.6 | 3.6 | 2.6 | 3.1 | 3.9 |
| Owners' profit | 0 | 458 | 0 | 0 | 0 |
| EPS, as reported (₹) | (1.94) | 9.34 | 3.06 | 3.75 | 4.31 |
| ROE % · ROCE % | (4.6) · 5.7 | 18.0 · 17.8 | 5.9 · 8.0 | 6.8 · 7.5 | 7.4 · 11.1 |
| Debt / equity (x) | 1.55 | 1.57 | 1.60 | 0.73 | 1.39 |
| Cash from operations | (1,029) | (333) | 668 | 2,590 | (1,342) |
| Capex | (297) | (208) | (292) | (204) | (228) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,390 | 5,856 | 4,457 | 3,534 | 6,763 | 6,870 | 4,347 | 4,500 |
| Profit before tax | (14) | 42 | 130 | (45) | (10) | 131 | 157 | 95 |
| Net profit | 12 | 46 | 135 | (39) | (36) | 135 | 152 | 113 |
| EPS (₹) | 0.25 | 0.93 | 2.75 | (0.80) | (0.73) | 2.76 | 3.09 | 2.31 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufactured Fertilizers | 6,739 | 31.3 |
| Manufactured Chemicals | 262 | 1.2 |
| Traded Imported Fertilizers (Under NBS) | 6,414 | 29.8 |
| OthersDomesticTradedProductAgroInputsSaleServices | 868 | 4.0 |
| Manufactured Fertilizers (Urea, Bentonite Sulphure,Bio fertilizers) | 6,219 | 28.9 |
| Manufactured Chemicals (Industrial Products, Agro Chemicals, etc) | 262 | 1.2 |
| Others (Domestic Traded Product, Agro Inputs, Sale Services, etc.) | 939 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · CAG appoints joint statutory auditors for FY 2026-27 | management changes | medium | — | — |
| 8 Sept 2026 · NFL files Addendum to 52nd Annual Report with C&AG comments | compliance | minimal | — | — |
| 7 Sept 2026 · NFL adds C&AG comments to 52nd Annual Report - no adverse observations | regulatory legal | medium | — | — |
| 7 Sept 2026 · C&AG addendum to 52nd Annual Report submitted | regulatory legal | medium | — | — |
| 1 Sept 2026 · NFL Executive Director F&A retires; T.K. Batra promoted as Executive Director | management changes | medium | — | — |
| 1 Sept 2026 · NFL announces ED (F&A) retirement and internal ED promotion | management changes | medium | — | — |
| 27 Aug 2026 · Newspaper clippings of 52nd AGM Notice submitted to exchanges | compliance | minimal | — | — |
| 26 Aug 2026 · NFL files BRSR for FY 2025-26, turnover Rs 21,230 crore | compliance | medium | — | — |
| 26 Aug 2026 · 52nd AGM on Sept 22, 2026; final dividend Rs 1.04 per share | board shareholder meetings | low | — | — |
| 26 Aug 2026 · 52nd AGM on Sept 22, 2026 with Final Dividend of Rs 1.04 per share | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 4.4 |
| Total, before eliminations | 21,703 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| COROMANDEL INTERNTL. LTD | 57,080 | 31.1 | 4.35 | 16.5 | 14.5 | 18.6 | 17.2 | 9.9 |
| FACT LTD | 50,465 | 1813.7 | 36.70 | 154.9 | 1.8 | 1.8 | — | (0.2) |
| CHAMBAL FERTILIZERS LTD | 16,803 | 8.7 | 1.62 | 6.3 | 18.8 | 20.7 | 10.3 | 17.5 |
| PARADEEP PHOSPHATES LTD | 16,216 | 15.1 | 2.39 | 10.1 | 14.7 | 16.5 | — | 12.5 |
| MADHYA BHARAT AGRO P. LTD | 7,021 | 10.9 | 12.77 | — | 27.3 | 16.6 | — | 17.1 |
| GUJ STATE FERT & CHEM LTD | 6,219 | 9.0 | 0.51 | 5.7 | 5.5 | 6.5 | 7.5 | 7.4 |
| RASHTRIYA CHEMICALS & FER | 6,151 | 13.8 | 1.20 | 8.5 | 8.3 | 8.2 | 17.4 | 7.1 |
| KRISHANA PHOSCHEM LIMITED | 5,570 | 7.0 | 9.93 | — | 32.1 | 30.2 | — | 17.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.3 | 10.9 | 10 of 21 | 55% |
| P/B | 1.2 | 1.0 | 13 of 23 | 46% |
| ROCE | 5.4 | 8.8 | 16 of 23 | 32% |
| ROE | 7.4 | 8.3 | 13 of 23 | 46% |
| Debt / Equity | 1.4 | 0.3 | 20 of 23 | 14% |
| EBITDA margin | 6.2 | 8.0 | 16 of 21 | 25% |
| Revenue growth | 27.3 | 16.3 | 6 of 21 | 75% |
| Profit growth | 387.5 | 6.4 | 2 of 23 | 96% |
| Market cap | 3370 | 929 | 9 of 23 | 64% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
