Madras Fertilizers Share Price & Earnings Call Analysis
- Market cap
- ₹878 Cr
- P/E
- 11.26
- ROE
- 282.55%
- PEG
- -0.49
- Price to sales
- 0.36
- Debt to equity
- 6.90
- 52W high / low
- ₹83.1 / ₹51.4
- Sales growth (5Y)
- 8.46%
- EBITDA margin
- 4.00%
- Net profit margin
- 3.66%
- Promoter holding
- 85.27%
- Sales (last year)
- ₹2,442 Cr
Madras Fertilizers Limited is engaged in the manufacturing of Urea and Complex Fertilizers. It is also involved in manufacturing Bio-fertilizers and trading eco-friendly Agro Chemicals, Organic Manure, and City Compost under the brand name ‘Vijay’. [1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Fertilizers & Agrochemicals
on management's own guidance
- Dharmaj CropGood growth2
- Anya Polytech &Good growth1
- M B Agro Prod.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Fertilizers & Agrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Anya Polytech & | 20–40% | Up 2%+ | ₹194 Cr | 23.2 |
| 2 | Dharmaj Crop | 20–40% | Up 0–2% | ₹862 Cr | 14.3 |
| 3 | M B Agro Prod. | 20–40% | Flat | ₹8,127 Cr | 52.5 |
| 4 | 20–40% | Flat | ₹7,066 Cr | 35.9 | |
| 5 | 10–20% | Up 2%+ | ₹1,167 Cr | 17.4 | |
| 6 | 10–20% | Flat | ₹50,035 Cr | 26.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Fertilizers & Agrochemicals rankingFinancials of Madras Fertilize
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Madras Fertilize
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 768 | 529 | 385 | 556 | 758 | 655 | 532 | 799 | 555 | 672 | 510 | 419 | 699 |
| Expenses + | 684 | 546 | 374 | 543 | 666 | 590 | 521 | 692 | 616 | 607 | 498 | 422 | 663 |
| Operating Profit | 84 | -17 | 12 | 13 | 92 | 65 | 11 | 107 | -61 | 65 | 12 | -3 | 36 |
| OPM % | 11% | -3% | 3% | 2% | 12% | 10% | 2% | 13% | -11% | 10% | 2% | -1% | 5% |
| Other Income + | 6 | 4 | 9 | -46 | 28 | 9 | 10 | 9 | 16 | 13 | 23 | 24 | 5 |
| Interest | 19 | 18 | 14 | 16 | 24 | 17 | 15 | 15 | 16 | 15 | 14 | 14 | 15 |
| Depreciation | 1 | 3 | 3 | 3 | 1 | 3 | 2 | 3 | 4 | 3 | 3 | 4 | 4 |
| Profit before tax | 71 | -34 | 3 | -52 | 95 | 54 | 3 | 99 | -64 | 59 | 17 | 4 | 23 |
| Tax % | 34% | -0% | -0% | -0% | 7% | 25% | 52% | 24% | -19% | 25% | 25% | 29% | 7% |
| Net Profit + | 47 | -34 | 3 | -52 | 88 | 40 | 2 | 75 | -52 | 44 | 13 | 3 | 21 |
| EPS in Rs | 2.94 | -2.14 | 0.21 | -3.21 | 5.48 | 2.51 | 0.10 | 4.63 | -3.26 | 2.73 | 0.80 | 0.16 | 1.30 |
Financials of Madras Fertilize
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,698 | 1,198 | 1,392 | 1,616 | 1,593 | 1,292 | 1,533 | 2,302 | 3,447 | 2,228 | 2,542 | 2,300 |
| Expenses + | 1,728 | 1,191 | 1,313 | 1,592 | 1,595 | 1,294 | 1,398 | 2,056 | 3,115 | 2,124 | 2,415 | 2,190 |
| Operating Profit | -30 | 7 | 79 | 24 | -2 | -2 | 135 | 247 | 332 | 104 | 127 | 110 |
| OPM % | -2% | 1% | 6% | 1% | -0% | -0% | 9% | 11% | 10% | 5% | 5% | 5% |
| Other Income + | 18 | -69 | 36 | 47 | 18 | 12 | 7 | 29 | 14 | -7 | 44 | 65 |
| Interest | 104 | 109 | 90 | 94 | 123 | 104 | 108 | 100 | 89 | 76 | 68 | 59 |
| Depreciation | 18 | 18 | 21 | 22 | 23 | 32 | 31 | 9 | 10 | 10 | 12 | 14 |
| Profit before tax | -135 | -190 | 4 | -45 | -130 | -125 | 3 | 166 | 249 | 12 | 92 | 102 |
| Tax % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | 2% | 25% | 53% | 30% | 21% |
| Net Profit + | -135 | -190 | 4 | -45 | -130 | -125 | 3 | 162 | 185 | 6 | 64 | 80 |
| EPS in Rs | -8.36 | -11.77 | 0.22 | -2.78 | -8.06 | -7.78 | 0.18 | 10.08 | 11.50 | 0.35 | 3.99 | 4.99 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
Financials of Madras Fertilize
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 |
| Reserves | -505 | -694 | -592 | -654 | -737 | -892 | -857 | -668 | -449 | -352 | -194 | -70 |
| Borrowings + | 914 | 986 | 1,254 | 1,506 | 1,652 | 1,804 | 1,378 | 1,736 | 1,494 | 1,583 | 1,594 | 634 |
| Other Liabilities + | 784 | 798 | 406 | 568 | 492 | 344 | 508 | 680 | 650 | 614 | 672 | 1,606 |
| Total Liabilities | 1,356 | 1,252 | 1,230 | 1,582 | 1,568 | 1,419 | 1,191 | 1,911 | 1,857 | 2,007 | 2,234 | 2,333 |
| Fixed Assets + | 183 | 180 | 183 | 162 | 148 | 217 | 190 | 190 | 192 | 200 | 207 | 216 |
| CWIP | 15 | 15 | 22 | 26 | 31 | 3 | 18 | 14 | 13 | 25 | 20 | 27 |
| Investments | 0 | 0 | 135 | 149 | 198 | 180 | 203 | 250 | 337 | 455 | 525 | 575 |
| Other Assets + | 1,157 | 1,057 | 889 | 1,246 | 1,192 | 1,018 | 780 | 1,456 | 1,315 | 1,328 | 1,483 | 1,515 |
| Total Assets | 1,356 | 1,252 | 1,230 | 1,582 | 1,568 | 1,419 | 1,191 | 1,911 | 1,857 | 2,007 | 2,234 | 2,333 |
Financials of Madras Fertilize
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -65 | -19 | 220 | -150 | -23 | 104 | 492 | -317 | 687 | 175 | 116 | 5 |
| Cash from Investing Activity + | -2 | -10 | -5 | -3 | -13 | -60 | -15 | 2 | 2 | -1 | 26 | 31 |
| Cash from Financing Activity + | 62 | 44 | -245 | 178 | 45 | 56 | -527 | 265 | -320 | 19 | -52 | -34 |
| Net Cash Flow | -5 | 15 | -30 | 25 | 10 | 100 | -50 | -50 | 369 | 193 | 90 | 2 |
| Free Cash Flow | -69 | -33 | 212 | -154 | -36 | 39 | 473 | -324 | 677 | 143 | 103 | -22 |
| CFO/OP | 213% | -289% | 278% | -629% | 1,126% | -5,687% | 365% | -129% | 224% | 172% | 122% | 6% |
Financials of Madras Fertilize
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 3 | 3 | 11 | 5 | 6 | 147 | 65 | 156 | 53 | 53 | 55 | 75 |
| Inventory Days | 68 | 120 | 169 | 86 | 116 | 102 | 98 | 71 | 33 | 62 | 55 | 47 |
| Days Payable | 94 | 129 | 133 | 149 | 115 | 49 | 114 | 77 | 41 | 85 | 100 | 90 |
| Cash Conversion Cycle | -24 | -6 | 48 | -59 | 8 | 200 | 49 | 150 | 45 | 29 | 10 | 33 |
| Working Capital Days | -78 | -180 | -167 | -165 | -203 | -336 | -272 | -149 | -121 | -218 | -193 | -200 |
| ROCE % | -5% | 2% | 15% | 5% | -1% | -2% | 13% | 28% | 28% | 11% | 11% | 15% |
Momentum score · price trend
8 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −36.0% | 15% |
| Last 6 months | −22.8% | 16% |
| Last 3 months | −21.4% | 16% |
The price is 58.2% below its all-time high of ₹125.36 (12 Jul 2024). Stocks more than 20% below their peak have their score halved, so 16 became 8.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Madras Fertilize: 0.4 × 15 + 0.4 × 16 + 0.2 × 16 = 16, halved to 8 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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