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Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
(GNFC)
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Rating:78Outperform
Price Target:
₹665.00
▲(34.75% Upside)
Action:Reiterated
Date:09/18/26
The score is driven by GNFC’s strong financial resilience from an exceptionally low-leverage balance sheet and an attractive valuation (low P/E and healthy dividend yield). Technicals are supportive with the stock above major moving averages and positive momentum. The main constraint is cyclical and uneven profitability/cash flow generation, which reduces confidence in earnings stability across the cycle.
Positive Factors
Very low leverage
Near-zero debt relative to equity and a large, stable equity base reduce financial strain through downturns. This gives GNFC flexibility to sustain operations and allocate capital while fertilizer and chemical conditions fluctuate over the next several quarters.
Negative Factors
Cyclical revenue profile
Volatile revenue reflects sensitivity to fertilizer and chemical cycle conditions, making performance less predictable across planning periods. Uneven demand and realizations can complicate capacity utilization, budgeting and sustained earnings growth even when the balance sheet remains strong.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Near-zero debt relative to equity and a large, stable equity base reduce financial strain through downturns. This gives GNFC flexibility to sustain operations and allocate capital while fertilizer and chemical conditions fluctuate over the next several quarters.
Read all positive factors
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹86.63B
Dividend Yield3.56%
Average Volume (3M)56.26K
Price to Earnings (P/E)8.3
Beta (1Y)1.23
Revenue Growth12.55%
EPS Growth84.52%
CountryIN
Employees1,971
SectorGeneral
Sector StrengthN/A
IndustryChemicals
Share Statistics
EPS (TTM)70.55
Shares Outstanding146,940,690
10 Day Avg. Volume68,899
30 Day Avg. Volume56,263
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.59
Price to Sales (P/S)0.69
P/FCF Ratio11.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Business Overview & Revenue Model
Company Description
Established in 1976 and headquartered in Bharuch, India, Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) is a prominent manufacturer and marketer of a diverse range of fertilizers and chemicals, catering to both domestic and internat...
How the Company Makes Money
GNFC primarily makes money by manufacturing and selling products across its fertilizers and chemicals businesses, with an additional revenue stream from IT services. (1) Fertilizers: The company generates revenue from the sale of nitrogenous ferti...
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
92
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.10B | 77.73B | 83.93B | 78.95B | 102.07B | 86.23B |
| Gross Profit | 29.20B | 13.59B | 24.13B | 16.93B | 52.19B | 46.40B |
| EBITDA | 14.65B | 8.78B | 11.16B | 9.70B | 22.39B | 25.93B |
| Net Income | 10.37B | 8.08B | 5.97B | 4.97B | 14.72B | 17.10B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 113.59B | 110.03B | 106.72B | 116.96B | 107.34B |
| Cash, Cash Equivalents and Short-Term Investments | 18.04B | 18.04B | 30.52B | 16.47B | 22.72B | 8.67B |
| Total Debt | 0.00 | 60.00M | 1.06B | 27.30M | 19.80M | 17.70M |
| Total Liabilities | -91.15B | 22.44B | 24.28B | 23.63B | 25.90B | 27.44B |
| Stockholders Equity | 91.15B | 91.15B | 85.75B | 83.09B | 91.05B | 79.90B |
Cash Flow | ||||||
| Free Cash Flow | -340.00M | 4.56B | 1.53B | -2.20B | 12.00B | 18.29B |
| Operating Cash Flow | 3.14B | 10.02B | 6.06B | 312.80M | 13.73B | 19.67B |
| Investing Cash Flow | 280.00M | -5.84B | -4.66B | 12.35B | -12.29B | -18.99B |
| Financing Cash Flow | -2.64B | -2.64B | -2.62B | -12.81B | -1.60B | -1.30B |
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Technical Analysis
Positive
493.50
Price Trends
533.26
Positive
514.62
Positive
479.66
Positive
Market Momentum
8.70
Positive
62.96
Neutral
55.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GNFC, the sentiment is Positive. The current price of 493.5 is below the 20-day moving average (MA) of 564.64, below the 50-day MA of 533.26, and above the 200-day MA of 479.66, indicating a bullish trend. The MACD of 8.70 indicates Positive momentum. The RSI at 62.96 is Neutral, neither overbought nor oversold. The STOCH value of 55.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GNFC.
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹86.63B | 8.35 | ― | 3.56% | 12.55% | 84.52% | |
70 Outperform | ₹75.68B | 120.97 | ― | 0.06% | 33.90% | 55.30% | |
60 Neutral | ₹46.89B | 70.65 | ― | 2.77% | 7.07% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹169.59B | 17.23 | ― | 0.74% | 13.63% | 0.30% | |
54 Neutral | ₹219.31B | 27.62 | ― | 0.47% | 8.20% | 29.06% | |
52 Neutral | ₹176.67B | -8.16 | ― | 1.59% | 2.04% | -742.43% |
* General Sector Average
IN:GNFC
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.
589.55
100.96
20.66%
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Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Corporate Events
GNFC Names Senior Gujarat Bureaucrat as New Managing Director
Sep 9, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd. is a Gujarat government-promoted company operating in the fertilizers and chemicals sector, with a focus on industrial chemicals and agro-inputs. Its operations are strategically linked to the sta...
GNFC Announces Government-Driven Managing Director Change
Sep 9, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd., a major listed player in India’s fertilizers and industrial chemicals market with close ties to the Gujarat state administration, is governed under SEBI’s listing and disclosure regim...
GNFC appoints IAS officer Sanjeev Kumar as new Managing Director
Sep 9, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd. has announced a change in its top leadership, with senior IAS officer Sanjeev Kumar assuming additional charge as Managing Director effective September 9, 2026, following a notification from the G...
GNFC moves to fully digital access for 50th annual report and AGM
Aug 22, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd. has notified exchanges that it is dispatching letters to shareholders without registered email addresses, providing a web link to access its 50th Annual Report for FY 2025-26 in line with SEBI lis...
GNFC Alerts Shareholders on Pending Dividends Ahead of IEPF Share Transfer
Aug 18, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd. has notified exchanges that it has issued letters to shareholders whose dividends have remained unclaimed or unencashed for seven or more consecutive years, in line with Section 124(6) of the Comp...
GNFC Sets Timeline for 50th AGM and Dividend Eligibility
Aug 8, 2026
Gujarat Narmada Valley Fertilizers Chemicals has scheduled its 50th Annual General Meeting for Wednesday, September 16, 2026, at 3:00 p.m. IST, to be conducted via video conferencing and deemed held at its registered office in Bharuch. The compan...
GNFC Sets Record Date and AGM Schedule for 50th Annual Meeting and Dividend
Aug 8, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd. has scheduled its 50th Annual General Meeting for Wednesday, September 16, 2026, at 3:00 p.m. IST, to be conducted via video conferencing and other audio-visual means, with proceedings deemed to o...
GNFC Appoints M/s K G Goyal & Associates as Cost Auditors for FY 2026-27
Aug 5, 2026
Gujarat Narmada Valley Fertilizers Chemicals Ltd. has announced that, following the Audit Committee’s recommendation, its board has approved the appointment of M/s K G Goyal Associates as cost auditors for the financial year 2026-27. The m...
GNFC Sees Rs.61 Crore Gain From Revised Urea Energy Norms at Bharuch Unit
Aug 1, 2026
The Department of Fertilizers under India’s Ministry of Chemicals Fertilizers has revised the energy norm applicable to Gujarat Narmada Valley Fertilizers Chemicals’ Bharuch neem-coated urea unit, effective from April 1, 2025 to Marc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.