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National Fertilizers Ltd.
(NFL)
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Rating:48Neutral
Price Target:
₹57.00
▼(-20.52% Downside)
Action:Reiterated
Date:08/29/26
The score is held back primarily by weak cash generation (negative operating and free cash flow in 2026) and higher leverage, despite strong multi-year revenue growth and recent profitability. Technicals add additional pressure with the price below key moving averages and negative MACD. A low P/E and moderate dividend yield provide the main support to the overall score.
Positive Factors
Strong Revenue Growth
NFL has delivered substantial multi-year revenue expansion, indicating strong demand for its fertilizer products and broadening sales scale. Continued top-line growth can support operating leverage, strengthen its market presence, and provide a larger base from which to improve earnings over time.
Negative Factors
Structurally Thin Margins
Very thin margins leave limited protection against cost pressure, operating volatility, or adverse changes in fertilizer economics. Even with strong revenue growth, small shifts in profitability can materially affect earnings, making sustained margin improvement important for durable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
NFL has delivered substantial multi-year revenue expansion, indicating strong demand for its fertilizer products and broadening sales scale. Continued top-line growth can support operating leverage, strengthen its market presence, and provide a larger base from which to improve earnings over time.
Read all positive factors
National Fertilizers Ltd. (NFL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹28.10B
Dividend Yield1.82%
Average Volume (3M)39.33K
Price to Earnings (P/E)7.7
Beta (1Y)1.72
Revenue Growth23.27%
EPS Growth137.75%
CountryIN
Employees2,612
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)7.43
Shares Outstanding490,578,400
10 Day Avg. Volume34,353
30 Day Avg. Volume39,334
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)1.11
Price to Sales (P/S)0.15
P/FCF Ratio-1.76
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
National Fertilizers Ltd. Business Overview & Revenue Model
Company Description
National Fertilizers Limited, established in 1974 and based in Noida, India, is primarily engaged in the manufacturing and distribution of a wide array of products including urea, various industrial chemicals, and biological fertilizers across Ind...
How the Company Makes Money
NFL primarily makes money by manufacturing and selling chemical fertilizers—especially urea and other nitrogen-based fertilizer products—to India’s agricultural sector. Its core revenue stream is the sale of fertilizers produced at its manufacturi...
National Fertilizers Ltd. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
46
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 224.92B | 215.14B | 197.94B | 235.60B | 71.17B | 49.08B |
| Gross Profit | 26.07B | 18.88B | 25.63B | -142.92B | -202.85B | -85.58B |
| EBITDA | 10.58B | 9.29B | 8.10B | 8.02B | 12.70B | 6.16B |
| Net Income | 3.64B | 2.11B | 1.84B | 1.50B | 4.58B | -951.20M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 117.24B | 93.11B | 112.06B | 125.34B | 104.94B |
| Cash, Cash Equivalents and Short-Term Investments | 590.50M | 590.50M | 1.42B | 299.30M | 132.10M | 258.20M |
| Total Debt | 0.00 | 39.64B | 20.01B | 40.91B | 39.93B | 31.72B |
| Total Liabilities | -28.41B | 88.83B | 65.95B | 86.51B | 99.92B | 84.47B |
| Stockholders Equity | 28.41B | 28.41B | 27.16B | 25.54B | 25.42B | 20.47B |
Cash Flow | ||||||
| Free Cash Flow | -24.53B | -18.01B | 23.86B | 3.76B | -5.41B | -13.26B |
| Operating Cash Flow | -23.15B | -15.73B | 25.90B | 6.68B | -3.33B | -10.29B |
| Investing Cash Flow | -889.40M | -2.75B | -2.68B | -3.34B | -2.06B | -1.29B |
| Financing Cash Flow | 24.41B | 18.85B | -23.34B | -3.18B | 5.26B | 11.45B |
National Fertilizers Ltd. Technical Analysis
Negative
71.72
Price Trends
66.33
Negative
69.49
Negative
72.71
Negative
Market Momentum
-2.28
Positive
23.26
Positive
12.06
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NFL, the sentiment is Negative. The current price of 71.72 is above the 20-day moving average (MA) of 62.49, above the 50-day MA of 66.33, and below the 200-day MA of 72.71, indicating a bearish trend. The MACD of -2.28 indicates Positive momentum. The RSI at 23.26 is Positive, neither overbought nor oversold. The STOCH value of 12.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NFL.
National Fertilizers Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹144.59B | 7.49 | ― | 3.05% | 15.58% | 10.17% | |
63 Neutral | ₹510.48B | 27.83 | ― | 0.64% | 23.50% | -18.96% | |
62 Neutral | ₹143.16B | 12.29 | ― | 1.09% | 54.29% | 14.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹52.13B | 11.68 | ― | 2.48% | 17.52% | 56.09% | |
48 Neutral | ₹28.10B | 7.69 | ― | 1.82% | 23.27% | 137.75% | |
45 Neutral | ₹437.13B | -411.37 | ― | 0.06% | 32.05% | -212.36% |
* General Sector Average
IN:NFL
National Fertilizers Ltd.
57.27
-36.37
-38.84%
IN:CHAMBLFERT
Chambal Fertilisers & Chemicals Ltd.
360.95
-114.31
-24.05%
IN:COROMANDEL
Coromandel International Limited
1,730.10
-499.24
-22.39%
IN:FACT
Fertilizers & Chemicals Travancore Ltd.
675.55
-223.95
-24.90%
IN:PARADEEP
Paradeep Phosphates Ltd.
137.85
-29.65
-17.70%
IN:RCF
Rashtriya Chemicals & Fertilizers Ltd.
94.50
-52.99
-35.93%
National Fertilizers Ltd. Corporate Events
National Fertilizers Publishes C&AG Comments in Addendum to 52nd Annual Report
Sep 7, 2026
National Fertilizers Limited has issued an addendum to its 52nd Annual Report for the 2025-26 financial year, publishing the comments of the Comptroller and Auditor General of India on its standalone and consolidated audited financial statements. ...
National Fertilizers Adds C&AG Comments to 52nd Annual Report After Revised Audit
Sep 7, 2026
National Fertilizers Limited has issued an addendum to its 52nd Annual Report for the 2025-26 financial year, publishing the comments of the Comptroller and Auditor General of India on its standalone and consolidated audited financial statements. ...
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.