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National Fertilizers Overview

National Fertilizers Ltd (NFL) is an totally India-based organisation engaged in producing and advertising urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial merchandise. The Company's business segments are Urea and Other Products, including commercial products, bio fertilizers and traded products. It offers allied business merchandise, which include nitric acid, ammonium nitrate, and sodium nitrite or nitrate. The Company presents three types of bio-fertilizers, consisting of phosphate solubilizing bacteria ...Read More

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National Fertilizers Key Financials

Market Cap ₹3856 Cr.

Stock P/E 21

P/B 1.5

Current Price ₹78.6

Book Value ₹ 52.3

Face Value 10

52W High ₹113.5

Dividend Yield 1.98%

52W Low ₹ 70.9

National Fertilizers Share Price

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Volume
Price

National Fertilizers Quarterly Price

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National Fertilizers Peer Comparison

National Fertilizers Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 5036 5655 7584 5284 5092 4390 5856 4457 3534 6763
Other Income 23 36 14 29 20 18 28 25 9 15
Total Income 5060 5691 7598 5313 5112 4408 5884 4481 3543 6778
Total Expenditure 5060 5714 7266 4905 4985 4269 5707 4222 3446 6635
Operating Profit -0 -23 333 408 127 139 177 259 98 143
Interest 104 39 50 74 90 60 41 35 46 55
Depreciation 87 90 92 92 91 93 94 95 96 99
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -191 -153 190 242 -54 -14 42 130 -45 -10
Provision for Tax -47 -40 50 61 -13 -3 11 33 -13 -0
Profit After Tax -144 -113 140 182 -41 -11 31 97 -32 -10
Adjustments 23 26 11 26 33 23 15 37 -7 -26
Profit After Adjustments -121 -87 151 208 -9 12 46 135 -39 -36
Adjusted Earnings Per Share -2.5 -1.8 3.1 4.2 -0.2 0.2 0.9 2.7 -0.8 -0.7

National Fertilizers Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 8520 7757 7600 8943 12429 13135 11906 15857 29584 23560 19795 20610
Other Income 352 253 176 109 57 59 33 37 227 110 98 77
Total Income 8872 8010 7776 9052 12486 13195 11939 15894 29811 23671 19893 20686
Total Expenditure 8140 7205 7043 8407 11418 12275 10989 15278 28541 22944 19182 20010
Operating Profit 732 805 733 645 1069 920 950 617 1270 727 710 677
Interest 615 433 323 237 320 409 294 137 308 277 233 177
Depreciation 73 87 85 73 285 374 312 335 353 362 373 384
Exceptional Income / Expenses 0 0 0 0 0 -389 0 0 0 0 0 0
Profit Before Tax 45 287 325 335 459 -263 331 -59 612 174 212 117
Provision for Tax 18 90 117 122 165 -82 94 37 154 24 28 31
Profit After Tax 26 197 208 213 294 -181 237 -95 458 150 184 86
Adjustments 0 0 0 0 0 0 0 0 0 0 0 19
Profit After Adjustments 26 197 208 213 294 -181 237 -95 458 150 184 106
Adjusted Earnings Per Share 0.5 4 4.2 4.3 6 -3.7 4.8 -1.9 9.3 3.1 3.8 2.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -16% 8% 9% 9%
Operating Profit CAGR -2% 5% -5% -0%
PAT CAGR 23% 0% 0% 22%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -28% 3% 14% 11%
ROE Average 7% 11% 8% 7%
ROCE Average 8% 10% 8% 8%

National Fertilizers Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1481 1689 1825 1986 2210 1902 2140 2080 2542 2545 2716
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 1785 986 172 115 280 597 648 630 535 0 0
Other Non-Current Liabilities 3533 3145 3020 2995 2881 2532 2364 2168 2044 1872 1686
Total Current Liabilities 6588 6165 5163 4532 8533 9505 3279 5631 7507 6795 4910
Total Liabilities 13387 11985 10180 9627 13904 14536 8430 10508 12628 11212 9312
Fixed Assets 4443 4259 4059 4080 3992 3724 3614 4229 3968 3830 3693
Other Non-Current Assets 1664 916 327 299 416 996 1370 487 561 713 675
Total Current Assets 7280 6794 5779 5245 9493 9816 3447 5793 8081 6651 4943
Total Assets 13387 11985 10180 9627 13904 14536 8430 10508 12628 11212 9312

National Fertilizers Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 4 3 5 6 7 17 20 39 26 13 29
Cash Flow from Operating Activities 304 1848 2453 1661 -2703 -319 7021 -1029 -333 668 2590
Cash Flow from Investing Activities -89 -87 -201 -346 -310 -810 -497 -129 -206 -334 -268
Cash Flow from Financing Activities -214 -1760 -2250 -1314 3022 1132 -6505 1145 526 -318 -2334
Net Cash Inflow / Outflow 1 2 1 1 9 3 20 -14 -13 16 -12
Closing Cash & Cash Equivalent 5 5 6 7 17 20 39 26 13 29 18

National Fertilizers Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.53 4.02 4.24 4.34 5.99 -3.69 4.83 -1.94 9.34 3.06 3.75
CEPS(Rs) 2.01 5.78 5.97 5.83 11.8 3.94 11.2 4.88 16.53 10.43 11.35
DPS(Rs) 0.17 1.21 0 0 1.86 0.95 0 0 2.79 0.27 1.56
Book NAV/Share(Rs) 30.19 34.43 37.2 40.47 45.06 38.78 43.63 42.39 51.81 51.88 55.36
Core EBITDA Margin(%) 4.44 7.09 7.29 5.98 8.14 6.55 7.7 3.65 3.53 2.62 3.09
EBIT Margin(%) 7.71 9.24 8.47 6.38 6.27 1.11 5.25 0.5 3.11 1.91 2.25
Pre Tax Margin(%) 0.52 3.68 4.25 3.74 3.69 -2 2.78 -0.37 2.07 0.74 1.07
PAT Margin (%) 0.31 2.53 2.72 2.38 2.37 -1.38 1.99 -0.6 1.55 0.64 0.93
Cash Profit Margin (%) 1.16 3.64 3.83 3.19 4.66 1.47 4.61 1.51 2.74 2.17 2.81
ROA(%) 0.2 1.55 1.88 2.15 2.5 -1.27 2.06 -1 3.96 1.26 1.79
ROE(%) 1.77 12.43 11.83 11.17 14.01 -8.81 11.73 -4.51 19.84 5.9 6.99
ROCE(%) 7.23 8.5 9.4 10.38 11.36 1.57 8.91 1.7 15.61 6.85 7.84
Receivable days 214.61 230.22 216.57 166.96 162.69 206.89 158.95 62.64 42.73 63.17 67.4
Inventory Days 12.16 18.04 25.33 22.44 31.01 39.77 26.28 31 32.85 37.33 24.53
Payable days 14.91 25.22 38.75 38.48 31.4 39.49 46.75 43.35 29.88 36 43.47
PER(x) 52.35 7.05 18.09 12.44 5.9 0 11.65 0 7.75 28.65 21.43
Price/Book(x) 0.93 0.82 2.06 1.33 0.78 0.47 1.29 1.25 1.4 1.69 1.45
Dividend Yield(%) 0.61 4.28 0 0 5.26 5.19 0 0 3.85 0.31 1.94
EV/Net Sales(x) 1.06 0.97 1.04 0.64 0.66 0.68 0.39 0.36 0.25 0.35 0.3
EV/Core EBITDA(x) 12.31 9.32 10.76 8.84 7.65 9.76 4.85 9.32 5.93 11.48 8.31
Net Sales Growth(%) 0 -8.95 -2.03 17.66 38.99 5.68 -9.36 33.19 86.57 -20.36 -15.98
EBIT Growth(%) 0 9.2 -10.11 -11.73 36.33 -81.2 326.94 -87.42 1068.99 -50.98 -1.27
PAT Growth(%) 0 650.8 5.54 2.33 38.17 -161.59 230.94 -140.12 581.84 -67.26 22.61
EPS Growth(%) 0 650.78 5.54 2.33 38.17 -161.59 230.94 -140.12 581.85 -67.26 22.61
Debt/Equity(x) 5.16 3.63 2.27 1.54 2.92 4.26 0.88 1.52 1.57 1.61 0.73
Current Ratio(x) 1.11 1.1 1.12 1.16 1.11 1.03 1.05 1.03 1.08 0.98 1.01
Quick Ratio(x) 1.06 1.02 1.01 1.04 0.93 0.9 0.92 0.63 0.67 0.72 0.82
Interest Cover(x) 1.07 1.66 2.01 2.42 2.43 0.36 2.12 0.57 2.99 1.63 1.91
Total Debt/Mcap(x) 5.57 4.41 1.1 1.16 3.73 9.03 0.68 1.22 1.12 0.95 0.51

National Fertilizers Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71
FII 0.39 1.1 0.48 0.41 0.41 0.42 0.6 0.49 0.91 1.07
DII 9.9 8.5 8.38 7.47 7.27 7.28 6.83 6.21 5.99 5.91
Public 15 15.69 16.43 17.4 17.61 17.58 17.85 18.58 18.39 18.31
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

National Fertilizers News

National Fertilizers Pros & Cons

Pros

Cons

  • Company has a low return on equity of 11% over the last 3 years.
  • Debtor days have increased from 36 to 43.47days.
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