MarketFriction

Gujarat State Fertilizers & Chemicals Ltd

NSE GSFC · BSE 500690 · Fertilizers
₹146.90 -2.58%
NSE close2026-10-01
52 week range138.83 - 199.99
Market cap₹6,043 Cr.
P/E8.72
Results 12-10 Microcap 250 Price band 20% Delivery 52.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,1192,0081,9652,1632,6352,8141,9222,1843,1872,9412,6333,583
Expenses2,8811,9001,9392,0532,3522,6561,8421,9922,8512,7632,5503,350
Operating Profit237108261102841588019333717883233
OPM %8%5%1.3%5%11%6%4.2%9%11%6%3.2%6%
Other Income197835452154606147144573937
Interest2172224821410
Depreciation464647474849484851505354
Profit before tax387144261133871688918442818365205
Tax %20%18%7%22%23%20%19%25%24%14%20%23%
Net Profit30911824872981347213932415852159
EPS in Rs7.752.960.622.197.483.361.803.488.133.971.313.98
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,1085,2656,2668,4917,7987,6349,08511,3699,1559,53410,94612,344
Expenses5,4514,7755,7017,7427,4777,0637,7649,7818,6418,89810,15511,514
Operating Profit6574895657493215711,3211,588514636790830
OPM %11%9%9%9%4.1%7%15%14%6%7%7%7%
Other Income656199107105184183152385323287277
Interest3165516111543101511101417
Depreciation97104119126171177179182183192202208
Profit before tax5943824936691415351,3151,543704756861882
Tax %31%-11%4%26%22%16%32%18%20%22%22%
Net Profit4164244744931104508991,266564591673693
EPS in Rs10.4410.6511.8912.382.7511.3022.5531.7714.1614.8316.8817.39
Dividend Payout %21%21%18%18%44%19%11%31%28%34%30%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth6%7%-1%29%
Compounded Profit Growth5%10%-19%8%
Stock Price CAGR7%3%-4%-23%
Return on Equity6%7%5%6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital808080808080808080808080
Reserves4,4265,4656,5397,2247,2416,7829,16011,69311,96012,64712,05912,187
Borrowings7441,2888051,0931,0691,55937625227
Other Liabilities1,2501,5581,6661,9182,0741,7021,8872,3471,8672,3192,2292,096
Total Liabilities6,5008,3909,09110,31510,46410,12311,16414,12513,90915,05114,36914,390
Fixed Assets1,9581,6562,0222,1082,8212,9022,8042,6802,5802,5492,5043,331
CWIP261405273763187107117158200236690192
Investments8981,7402,5302,7902,3762,0874,3316,3145,3296,0155,0554,610
Other Assets3,3834,5904,2664,6545,0795,0263,9124,9735,8016,2516,1196,257
Total Assets6,5008,3909,09110,31510,46410,12311,16414,12513,90915,05114,36914,390
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity260-243911358508-81,783237924-26883136
Cash from Investing Activity-134-173-238-484-281-266-23-18-39106-172-46
Cash from Financing Activity-155412-656134-242267-1,559-126-114-403-159-184
Net Cash Flow-30-4177-15-720192770-566-247-94
Free Cash Flow121-462662-141209-3101,736142782-508-296-172
CFO/OP69%-11%200%77%82%16%303%35%88%-22%26%34%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days13319755543540221516202123
Inventory Days7156828010696759570828992
Days Payable395470766730405534504034
Cash Conversion Cycle164199675874105575552526981
Working Capital Days961021291058896106116928493154
ROCE %12%10%6%7%9%3%6%13%13%6%6%7%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%
FIIs20.69%19.82%14.12%13.31%12.60%11.81%11.83%11.64%12.29%11.90%12.35%12.36%
DIIs3.16%3.65%4.55%4.90%5.87%6.06%7.48%7.34%7.81%7.28%7.30%7.32%
Government5.65%5.65%5.65%5.65%5.65%5.65%5.65%5.65%5.65%5.65%5.65%5.65%
Public32.65%33.04%37.84%38.30%38.05%38.63%37.21%37.51%36.40%37.32%36.83%36.82%
No. of Shareholders1,92,0961,98,3933,20,4853,38,2663,35,0883,38,4953,28,8573,24,2593,13,3293,09,6043,03,8302,98,987

Fundamentals

Market Cap₹ 6,043 Cr.
Current Price₹ 152
Stock P/E8.72
Book Value₹ 308
ROCE7.16 %
ROE5.51 %
Dividend Yield3.30 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)29%
Compounded Profit Growth (TTM)8%
Consolidated figures.
Valuation
Market capRs 5,854 Cr
Enterprise valueRs 5,680 Cr
P/E (TTM)8.45x
Price to book0.48x
Price to sales0.47x
EV / EBITDA5.13x
EV / EBIT6.32x
EV / sales0.46x
Price to cash flow43.00x
Earnings yield11.83%
Dividend yield3.40%
P/E, 3-year average11.35x
P/B, 3-year average0.55x
P/E, 5-year average9.00x
P/B, 5-year average0.52x
Profitability
Operating margin (excl. other income)7.22%
Operating margin (incl. other income)9.85%
EBITDA margin8.97%
Pre-tax margin7.14%
Net profit margin5.61%
Net margin, latest quarter4.42%
ROE5.51%
ROCE7.17%
ROA4.68%
ROE, 3-year average4.94%
ROCE, 3-year average6.37%
ROA, 3-year average4.20%
ROE, 5-year average6.80%
ROCE, 5-year average8.95%
ROA, 5-year average5.75%
ROIC (approx.)5.81%
Tax rate21.86%
Other income / net worth2.34%
Growth
Sales growth (latest year)14.81%
Profit growth (latest year)13.83%
Sales CAGR, 3 years-1.26%
Sales CAGR, 5 years7.47%
Profit CAGR, 3 years-19.00%
Profit CAGR, 5 years8.37%
Sales growth QoQ36.10%
Profit growth QoQ204.28%
Sales growth YoY (latest quarter)64.03%
Profit growth YoY (latest quarter)14.42%
Per share
EPS (TTM)Rs 17.39
EPS (latest year)Rs 16.88
EPS (latest quarter)Rs 3.98
EPS, 3-year averageRs 15.28
EPS, 5-year averageRs 20.02
Book value per shareRs 307.83
Sales per shareRs 309.79
Cash flow per shareRs 3.42
Free cash flow per shareRs -4.32
Dividend per share (latest year)Rs 5.00
Dividend per share, 3-year averageRs 4.67
Dividend per share, 5-year averageRs 5.30
Dividends
Dividend payout29.62%
Dividend payout, 3-year average30.53%
Dividend payout, 5-year average26.83%
Efficiency
Asset turnover0.76x
Fixed asset turnover3.29x
Inventory turnover4.88x
Inventory days75 days
Debtor days23 days
Debtors turnover16.06x
Creditor days34 days
Cash conversion cycle81 days
Working capital days154 days
Leverage
Total debtRs 27 Cr
Cash and bankRs 200 Cr
Net debtRs -173 Cr
Debt to equity0.00x
Net debt / EBITDA-0.16x
Interest coverage52.52x
Current ratio (filing 2026-03-31)4.83x
Quick ratio (filing 2026-03-31)3.34x
Trade payables (filing 2026-03-31)Rs 689 Cr
Owners' fund to total sources85.25%
Debt to assets0.19%
Cash flow
Cash from Operating Activity (latest year)Rs 136 Cr
Cash from Investing Activity (latest year)Rs -46 Cr
Cash from Financing Activity (latest year)Rs -184 Cr
Net Cash Flow (latest year)Rs -94 Cr
Free cash flow (latest year)Rs -172 Cr
FCFE (approx.: FCF + change in debt)Rs -147 Cr
Cash from ops / profit, 5 years0.28x
Sales to cash flow80.40x
Statement figures
Net sales (TTM)Rs 12,344 Cr
Net sales (latest year)Rs 10,946 Cr
Sales (latest quarter)Rs 3,583 Cr
Operating profit excl. other income (latest year)Rs 790 Cr
Operating profit (latest quarter)Rs 233 Cr
Other income (TTM)Rs 277 Cr
EBITDA (TTM)Rs 1,107 Cr
PBDT (TTM)Rs 1,090 Cr
Profit before tax (TTM)Rs 882 Cr
Tax (latest year)Rs 188 Cr
Net profit (TTM)Rs 693 Cr
Net profit (latest year)Rs 673 Cr
Net profit (latest quarter)Rs 159 Cr
Depreciation (TTM)Rs 208 Cr
Depreciation (latest quarter)Rs 54 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 9,170 Cr
Total expenditure (latest year)Rs 10,155 Cr
Total income (latest year)Rs 11,233 Cr
Share capitalRs 80 Cr
ReservesRs 12,187 Cr
Shareholders' fundsRs 12,266 Cr
Total assetsRs 14,390 Cr
Net blockRs 3,331 Cr
Capital work in progressRs 192 Cr
InvestmentsRs 4,610 Cr
ReceivablesRs 682 Cr
InventoryRs 1,879 Cr
Other liabilitiesRs 2,096 Cr
Shares outstanding (crore)39.85
Ownership
Promoter holding37.84% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 8.4 is at the 35th percentile of its own 9.4-year range (median 9.8, low 3.0, high 41.0).
P/B 0.48 is at the 27th percentile (median 0.55).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGSFCNifty 50Difference
1 week-5.4%-2.8% -2.7 pts
1 month-7.5%-6.8% -0.7 pts
3 months-9.5%-7.6% -1.9 pts
6 months+5.5%+0.4% +5.1 pts
1 year-26.7%-9.9% -16.8 pts
2 years-33.8%-13.6% -20.2 pts
3 years-15.3%+14.2% -29.5 pts
5 years+14.4%+27.9% -13.5 pts
15 mutual fund schemes hold about ₹387 Cr. Over three months 2 bought more and 5 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Quant Small Cap Fund0.29%103 -15%
Quant Multi Cap Fund1.02%79 -10%
ICICI Pru Small Cap Fund0.77%75 -7%
ICICI Pru Small Cap Fund0.77%73 -7%
Tata Ethical Fund0.91%35 +3%
ICICI Pru Rural Opportunities Fund0.48%10 +10%
Motilal Oswal Nifty Microcap 250 Index Fund0.37%9 +1%
ICICI Pru Conservative Hybrid Fund0.08%3 +9%
Groww Nifty Total Market Index Fund0.02%0 +4%
HDFC BSE 500 Index Fund0.02%0 -1%
Angel One Nifty Total Market Index Fund0.02%0 +4%
Mirae Asset Nifty Total Market Index Fund0.02%0 +4%
Bandhan Nifty Total Market Index Fund0.02%0 +4%
Motilal Oswal BSE 1000 Index Fund0.02%0 +4%
ICICI Pru Children's Fund0.00%0 -100%

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was -3% of net profit over the last 3 years
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹3,583 Cr +64.1% vs Jun 2025. Net profit ₹159 Cr +14.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Rs 5 Per Share
2025-09-08Dividend - Rs 5 Per Share
2024-09-09Annual General Meeting/Dividend - Rs 4 Per Share
2023-09-07Annual General Meeting/Dividend - Rs 10 Per Share
2022-09-09Annual General Meeting/Dividend - Rs 2.50 Per Share
2021-09-08 Annual General Meeting/Dividend - Rs 2.20 Per Share
2020-09-14 Dividend - Rs 1.20 Per Share
2019-09-09 Annual General Meeting/Dividend - Rs 2.20 Per Share
2018-09-11 Dividend Rs 2.2 Per Share
2017-08-31 Annual General Meeting/Dividend - Rs 2.20 Per Share
2016-09-01 Dividend - Rs 2.20/- Per Share
2015-08-31 Annual General Meeting/ Dividend - Rs 2.20/- Per Share
2014-07-24Annual General Meeting/Dividend - Rs.2/- Per Share
2013-07-18Annual General Meeting And Dividend Rs.2/- Per Share
2012-09-20Face Value Split From Rs 10 To Rs 20.2000
2012-07-19Annual General Meeting And Dividend Rs.7.50 Per Share
2011-08-30Dividend-Rs.7/- Per Share
2010-09-08Annual General Meeting And Dividend Rs.4.50 Per Share
2009-09-10Dividend-Rs.4.50 Pr Share
2008-09-04Agm/Dividend - 45%
2007-09-06Agm/Dividend-45%
2006-09-07Agm/Dividend-45%
DateTypeWhat it says
2026-09-30Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-23Press ReleaseA press release dated September 23, 2026, titled "press release regarding launch of new products".
2026-09-23General UpdatesGeneral Updates
2026-09-04General UpdatesPls find the BRSR Report for FY 2025-26
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-08-31General UpdatesGeneral Updates
2026-08-31Record DateThe revised Record date for the purpose of Dividend is 12-Sep-2026.
2026-08-29General UpdatesGeneral Updates regarding cut-off date for e-voting at 64th AGM
2026-08-29General UpdatesGeneral Updates for date of AGM, book closure, record date and dividend payment date
2026-08-29Record DateRecord date for the purpose of Dividend is 11-Sep-2026.
2026-08-29Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-08-18Concall / analyst meetTranscript
2026-08-13Concall / analyst meetLink of Recording
2026-08-12Press ReleaseA press release dated August 12, 2026, titled "enclosing media release giving highlights of the financial results, both standalone and consolidated, f...
2026-08-12General UpdatesRe-appointment of cost auditors for FY 26-27
2026-08-12Board meeting outcomeGujarat State Fertilizers & Chemicals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29Concall / analyst meetSchedule of meet
2026-06-26General UpdatesGeneral Updates
2026-05-30UpdatesIntimation regarding Second 100 Days Campaign Saksham Niveshak .
2026-05-29General UpdatesGeneral Updates
2026-05-27Concall / analyst meetTranscript
2026-05-25Concall / analyst meetLink of Recording
2026-05-22Press ReleaseA press release dated May 22, 2026, titled "we are enclosing media release giving highlights of the financial results, both standalone and consolidate...
2026-05-22Board meeting outcomeGujarat State Fertilizers & Chemicals Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-08-05CESTATGUJARAT STATE FERTILIZERS AND CHEMICALS LTD ---VS.--- -DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES..
2020-02-19CESTATGUJARAT STATE FERTILIZERS AND CHEMICALS LTD ---VS.--- -DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES..
2020-02-18CESTATGUJARAT STATE FERTILIZERS AND CHEMICALS LTD ---VS.--- -DESIGNATED AUTHORITY DIRECTORATE GENERAL OF ANTI-DUMPING AND ALLIED DUTIES..
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03