āagman

Not investment advice. Data and computed figures, for information only.

National Fertilizer Ltd

NSE: NFL
₹62.58
−₹0.68 (−1.07%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹3,029 Cr
CMP
₹62.58
52-wk High / Low
₹98 / 61
P/E
8.3
P/B
1.1
Book Value
₹57.9
Div Yield
1.68%
ROCE
9.0%
ROE
7.5%
Face Value
₹10
D/E
1.40

Price−33.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹75
√(22.5 × EPS × book value per share)
ROIC
4.9%
vs 7.5% sector median
Cash flow to profit
−6.36
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+364
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
6.4%
ROE × earnings retention ratio
ROE stability
7.2
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.16DII −0.61
Latest quarter vs the previous one
Cash-accrual divergence
14.8%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 35.3% since FY2016 (6124 to 3964)
+PE of 8.3x is below the sector median of 36.2x
Watch-outs
−Latest ROCE of 9% trails the sector median of 12%
−Price trades below its 200-day moving average (0.8x)
−Price is 36.3% below its 52-week high
−Piotroski F-Score of 3/9 is in the weak band (≤3)
−Balance-sheet accruals of 14.8% of average assets — earnings are not cash-backed

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5,0485,6607,5845,2845,0924,3905,8564,4573,5346,7636,8704,3474,500
Expenses5,0605,7147,2664,9054,9854,2655,7104,2223,4536,6606,5744,0264,234
Operating Profit−12−5531837910712514623481103296321267
OPM %−0.2%−1.0%4.2%7.2%2.1%2.8%2.5%5.3%2.3%1.5%4.3%7.4%5.9%
Other Income3458255553374762915594654
Interest104395074906041354655727779
Depreciation87909292919394959699110100104
Profit before tax−169−127201268−21957167−52−36172190138
Net Profit−121−87151208−91246135−39−36135152113
EPS (₹)−2.48−1.783.084.23−0.180.250.932.75−0.80−0.732.763.092.31

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,5147,7577,6008,94312,42913,13511,90615,85729,58723,55619,79821,51922,480
Expenses8,1307,1977,0418,40411,41712,28311,00115,46928,50922,93919,18220,68221,494
Operating Profit3855605595391,0128529043881,077617615837986
OPM %4.5%7.2%7.4%6.0%8.1%6.5%7.6%2.4%3.6%2.6%3.1%3.9%4.4%
Other Income3745456252−331332619519620396174
Interest304231193192320409294137308277233253282
Depreciation73878573285374312335353362373405413
Profit before tax45287325335459−263331−58612174212275464
Net Profit26197208213294−181237−95458150184211364
EPS (₹)0.534.024.244.345.99−3.694.83−1.949.343.063.754.317.43

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital491491491491491491491491491491491491—
Reserves9901,1991,3341,4951,7201,4121,6501,5892,0512,0552,2252,350—
Borrowings7,6456,1244,1353,0616,4648,1031,8923,1723,9934,0912,0013,964—
Other Liabilities4,3324,2074,2234,5825,2314,5614,3825,2446,0024,5634,5994,923—
Total Liabilities13,45812,01910,1829,62813,90514,5658,41410,49612,53611,1999,31611,728—
Fixed Assets4,4434,2594,0594,0803,9933,7263,6154,2303,9693,8313,6943,534—
CWIP39335164133656862138178242172161—
Investments023152217265323416257259336443496—
Other Assets8,9757,7055,9215,2689,5139,8613,5205,8708,1316,7915,0077,538—
Total Assets13,45812,01910,1829,62813,90514,5658,41410,49612,53611,1999,31611,728—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3041,8482,4531,661−2,703−3197,021−1,029−3336682,593−1,342
Cash from Investing Activity−89−87−201−346−310−810−497−129−206−334−270−263
Cash from Financing Activity−214−1,760−2,250−1,3143,0221,132−6,5051,145526−318−2,3341,643
Net Cash Flow12119320−14−1316−1237

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—6.08.09.011.06.09.02.016.07.08.09.0
ROE %———————————7.5
EPS (₹)0.534.024.244.345.99−3.694.83−1.949.343.063.754.31
Book Value (₹)———————————57.9
Face Value (₹)———————————10
P/E———————————8.3
Div Yield %———————————1.68
NPM %0.32.52.72.42.4−1.42.0−0.61.50.60.91.0
OPM %4.57.07.06.08.06.08.02.43.62.63.13.9
D/E5.163.622.271.542.924.260.881.531.571.610.741.40
P/B———————————1.1

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+11.0%
5 years+13.0%
3 years−10.0%
TTM+23.0%
Compounded profit growth
10 years+1.0%
5 years−3.0%
3 years−23.0%
TTM+138.0%
Stock price CAGR
10 years+7.0%
5 years+1.0%
3 years−4.0%
Last year−34.0%
Return on equity
10 years9.0%
5 years7.0%
3 years6.0%
Last year7.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters89.71%89.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%
FIIs0.31%0.31%1.64%1.02%0.01%0.01%0.81%0.54%0.48%0.60%0.70%0.54%
DIIs5.89%5.89%16.01%15.69%13.79%15.27%13.14%12.40%8.38%6.83%5.53%4.92%
Government————————————
Public4.09%4.09%7.63%8.57%11.49%10.01%11.33%12.36%16.43%17.85%19.05%19.81%
No. of shareholders43,64243,64253,94657,47157,5591,07,9361,17,7261,12,9852,34,2013,10,5632,87,3392,84,253
Change since Jun 2023 (pp)
Promoters −15.00FIIs +0.23DIIs −0.97Public +15.72

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationIntimation of Repayment of Commercial Paper (CP)Minutes Of 52Nd Annual General Meeting Of National Fertilizers Limited Held On 22.09.2026.Closure of Trading WindowShareholder Meeting / Postal Ballot-Scrutinizer''s Report
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Mar 2023PPTSep 2022PPTJun 2022PPTOct 2016PPT

Corporate actions

As of 11 Sep 2026
11 Sep 2026DIVIDENDDividend - Rs 1.04 Per Share—
22 Sep 2025DIVIDENDDividend - Rs 1.56 Per Share—
20 Sep 2024DIVIDENDAnnual General Meeting/Dividend - Rs 0.27 Per Share—
22 Sep 2023DIVIDENDDividend - Rs 1.26 Per Share—
9 Jun 2023DIVIDENDInterim Dividend - Rs 1.53 Per Share—
19 Mar 2020DIVIDEND Interim Dividend - Rs 0.95 Per Share—
9 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 0.77 Per Share—
13 Feb 2019DIVIDEND Interim Dividend - Rs 1.09 Per Share—
19 Sep 2016DIVIDEND Annual General Meeting/Dividend - Rs 1.21 Per Share—
15 Sep 2015DIVIDEND Annual General Meeting/ Dividend - Re 0.17/- Per Share—
29 Aug 2011DIVIDENDAnnual General Meeting And Dividend Re.0.85 Per Share—
30 Aug 2010DIVIDENDAnnual General Meeting And Dividend Rs.1.05 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman