National Fertilizer Share Price & Earnings Call Analysis
- Market cap
- ₹2,930 Cr
- P/E
- 8.05
- ROE
- 7.47%
- PEG
- -0.35
- Price to sales
- 0.13
- Debt to equity
- 1.40
- 52W high / low
- ₹95.5 / ₹57.1
- Sales growth (5Y)
- 12.57%
- EBITDA margin
- 4.39%
- Net profit margin
- 0.97%
- Promoter holding
- 74.71%
- Sales (last year)
- ₹22,480 Cr
National Fertilizers Limited is engaged in production and marketing of Neem Coated Urea, Bio-Fertilizers (solid & liquid) and other allied Industrial products. It is also engaged in trading of Imported and Domestic Fertilizers, Compost, Seeds and other Agro products. [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 National Fertilizer
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of National Fertilizer
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 + | 6,257 | 5,048 | 5,660 | 7,584 | 5,284 | 5,092 | 4,390 | 5,856 | 4,457 | 3,534 | 6,763 | 6,870 | 4,347 |
| Expenses + | 6,590 | 5,060 | 5,714 | 7,266 | 4,905 | 4,985 | 4,265 | 5,710 | 4,222 | 3,453 | 6,660 | 6,574 | 4,026 |
| Operating Profit | -333 | -12 | -55 | 318 | 379 | 107 | 125 | 146 | 234 | 81 | 103 | 296 | 321 |
| OPM % | -5% | -0% | -1% | 4% | 7% | 2% | 3% | 2% | 5% | 2% | 2% | 4% | 7% |
| Other Income + | 179 | 34 | 58 | 25 | 55 | 53 | 37 | 47 | 62 | 9 | 15 | 59 | 46 |
| Interest | 84 | 104 | 39 | 50 | 74 | 90 | 60 | 41 | 35 | 46 | 55 | 72 | 77 |
| Depreciation | 89 | 87 | 90 | 92 | 92 | 91 | 93 | 94 | 95 | 96 | 99 | 110 | 100 |
| Profit before tax | -326 | -169 | -127 | 201 | 268 | -21 | 9 | 57 | 167 | -52 | -36 | 172 | 190 |
| Tax % | -28% | -28% | -31% | 25% | 23% | -59% | -35% | 19% | 19% | -24% | -0% | 22% | 20% |
| Net Profit + | -236 | -121 | -87 | 151 | 208 | -9 | 12 | 46 | 135 | -39 | -36 | 135 | 152 |
| EPS in Rs | -4.81 | -2.48 | -1.78 | 3.08 | 4.23 | -0.18 | 0.25 | 0.93 | 2.75 | -0.80 | -0.73 | 2.76 | 3.09 |
Financials of National Fertilizer
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 + | 8,514 | 7,757 | 7,600 | 8,943 | 12,429 | 13,135 | 11,906 | 15,857 | 29,587 | 23,556 | 19,798 | 21,514 |
| Expenses + | 8,130 | 7,197 | 7,041 | 8,404 | 11,417 | 12,283 | 11,001 | 15,469 | 28,509 | 22,939 | 19,182 | 20,681 |
| Operating Profit | 385 | 560 | 559 | 539 | 1,012 | 852 | 904 | 388 | 1,077 | 617 | 615 | 834 |
| OPM % | 5% | 7% | 7% | 6% | 8% | 6% | 8% | 2% | 4% | 3% | 3% | 4% |
| Other Income + | 37 | 45 | 45 | 62 | 52 | -331 | 33 | 26 | 195 | 196 | 203 | 96 |
| Interest | 304 | 231 | 193 | 192 | 320 | 409 | 294 | 137 | 308 | 277 | 233 | 249 |
| Depreciation | 73 | 87 | 85 | 73 | 285 | 374 | 312 | 335 | 353 | 362 | 373 | 405 |
| Profit before tax | 45 | 287 | 325 | 335 | 459 | -263 | 331 | -58 | 612 | 174 | 212 | 275 |
| Tax % | 41% | 31% | 36% | 36% | 36% | -31% | 28% | 63% | 25% | 14% | 13% | 23% |
| Net Profit + | 26 | 197 | 208 | 213 | 294 | -181 | 237 | -95 | 458 | 150 | 184 | 211 |
| EPS in Rs | 0.53 | 4.02 | 4.24 | 4.34 | 5.99 | -3.69 | 4.83 | -1.94 | 9.34 | 3.06 | 3.75 | 4.31 |
| Dividend Payout % | 32% | 30% | 0% | 0% | 31% | -26% | 0% | 0% | 30% | 9% | 42% | 0% |
Financials of National Fertilizer
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 | 491 | 491 | 491 | 491 | 491 | 491 | 491 | 491 | 491 | 491 | 491 | 491 |
| Reserves | 990 | 1,199 | 1,334 | 1,495 | 1,720 | 1,412 | 1,650 | 1,589 | 2,051 | 2,055 | 2,225 | 2,350 |
| Borrowings + | 7,645 | 6,124 | 4,135 | 3,061 | 6,464 | 8,103 | 1,892 | 3,172 | 3,993 | 4,091 | 2,001 | 3,964 |
| Other Liabilities + | 4,332 | 4,207 | 4,223 | 4,582 | 5,231 | 4,561 | 4,382 | 5,244 | 6,002 | 4,563 | 4,599 | 4,920 |
| Total Liabilities | 13,458 | 12,019 | 10,182 | 9,628 | 13,905 | 14,565 | 8,414 | 10,496 | 12,536 | 11,199 | 9,316 | 11,724 |
| Fixed Assets + | 4,443 | 4,259 | 4,059 | 4,080 | 3,993 | 3,726 | 3,615 | 4,230 | 3,969 | 3,831 | 3,694 | 3,534 |
| CWIP | 39 | 33 | 51 | 64 | 133 | 656 | 862 | 138 | 178 | 242 | 172 | 161 |
| Investments | 0 | 23 | 152 | 217 | 265 | 323 | 416 | 257 | 259 | 336 | 443 | 496 |
| Other Assets + | 8,975 | 7,705 | 5,921 | 5,268 | 9,513 | 9,861 | 3,520 | 5,870 | 8,131 | 6,791 | 5,007 | 7,534 |
| Total Assets | 13,458 | 12,019 | 10,182 | 9,628 | 13,905 | 14,565 | 8,414 | 10,496 | 12,536 | 11,199 | 9,316 | 11,724 |
Financials of National Fertilizer
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 + | 304 | 1,848 | 2,453 | 1,661 | -2,703 | -319 | 7,021 | -1,029 | -333 | 668 | 2,590 | -1,342 |
| Cash from Investing Activity + | -89 | -87 | -201 | -346 | -310 | -810 | -497 | -129 | -206 | -334 | -268 | -263 |
| Cash from Financing Activity + | -214 | -1,760 | -2,250 | -1,314 | 3,022 | 1,132 | -6,505 | 1,145 | 526 | -318 | -2,334 | 1,643 |
| Net Cash Flow | 1 | 2 | 1 | 1 | 9 | 3 | 20 | -14 | -13 | 16 | -12 | 37 |
| Free Cash Flow | 212 | 1,771 | 2,364 | 1,364 | -2,969 | -1,075 | 6,607 | -1,322 | -540 | 386 | 2,418 | -1,564 |
| CFO/OP | 79% | 340% | 452% | 325% | -258% | -32% | 779% | -252% | -18% | 109% | 410% | -156% |
Financials of National Fertilizer
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 | 216 | 226 | 205 | 160 | 210 | 215 | 81 | 65 | 51 | 63 | 60 | 92 |
| Inventory Days | 25 | 49 | 63 | 45 | 90 | 67 | 25 | 90 | 57 | 41 | 28 | 29 |
| Days Payable | 15 | 31 | 44 | 42 | 35 | 47 | 42 | 58 | 33 | 31 | 46 | 39 |
| Cash Conversion Cycle | 225 | 244 | 224 | 163 | 265 | 235 | 64 | 97 | 75 | 72 | 42 | 81 |
| Working Capital Days | 30 | 30 | 29 | 29 | 28 | 8 | 4 | 3 | 7 | -3 | 0 | 0 |
| ROCE % | 6% | 8% | 9% | 11% | 6% | 9% | 2% | 16% | 7% | 8% | 9% |
Momentum score · price trend
9 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 | −35.7% | 16% |
| Last 6 months | −23.2% | 15% |
| Last 3 months | −16.3% | 28% |
The price is 60.7% below its all-time high of ₹152.8 (12 Jul 2024). Stocks more than 20% below their peak have their score halved, so 18 became 9.
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 National Fertilizer: 0.4 × 16 + 0.4 × 15 + 0.2 × 28 = 18, halved to 9 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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