MarketFriction

Madras Fertilizers Ltd

NSE MADRASFERT · BSE 590134 · Fertilizers
₹57.46 -2.23%
NSE close2026-10-01
52 week range52.56 - 86.95
Market cap₹939 Cr.
P/E12.0
Price band 20% Delivery 61.5%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales385556758655532799555672510419699814
Expenses374543666590521692616607498422663761
Operating Profit1213926511107-616512-33653
OPM %3.0%2.4%12%10%2.1%13%-11%10%2.4%-0.7%5%6%
Other Income9-4628910916132324512
Interest141624171515161514141515
Depreciation331323433444
Profit before tax3-529554399-64591742346
Tax %0%0%7%25%52%24%-19%25%25%29%7%25%
Net Profit3-528840275-52441332135
EPS in Rs0.21-3.215.482.510.104.63-3.262.730.800.161.302.15
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,1981,3921,6161,5931,2921,5332,3023,4472,2282,5422,3002,442
Expenses1,1911,3131,5921,5951,2941,3982,0563,1152,1242,4152,1902,344
Operating Profit77924-2-213524733210412711098
OPM %0.6%6%1.5%-0.1%-0.1%9%11%10%4.7%5.0%4.8%4.0%
Other Income-693647181272914-7446565
Interest10990941231041081008976685959
Depreciation18212223323191010121414
Profit before tax-1904-45-130-1253166249129210290
Tax %0%0%0%0%0%0%2%25%53%30%21%
Net Profit-1904-45-130-12531621856648071
EPS in Rs-11.770.22-2.78-8.06-7.780.1810.0811.500.353.994.994.41
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%8%-13%-5%
Compounded Profit Growth11%92%-22%15%
Stock Price CAGR16%14%-9%-31%
Return on Equity%%%292%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital162162162162162162162162162162162162
Reserves-505-694-592-654-737-892-857-668-449-352-194-70
Borrowings9149861,2541,5061,6521,8041,3781,7361,4941,5831,594634
Other Liabilities7847984065684923445086806506146721,606
Total Liabilities1,3561,2521,2301,5821,5681,4191,1911,9111,8572,0072,2342,333
Fixed Assets183180183162148217190190192200207216
CWIP15152226313181413252027
Investments00135149198180203250337455525575
Other Assets1,1571,0578891,2461,1921,0187801,4561,3151,3281,4831,515
Total Assets1,3561,2521,2301,5821,5681,4191,1911,9111,8572,0072,2342,333
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-65-19220-150-23104492-3176871751165
Cash from Investing Activity-2-10-5-3-13-60-1522-12631
Cash from Financing Activity6244-2451784556-527265-32019-52-34
Net Cash Flow-515-302510100-50-50369193902
Free Cash Flow-69-33212-154-3639473-324677143103-22
CFO/OP213%-289%278%-629%1,126%-5,687%365%-129%224%172%122%6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3311561476515653535575
Inventory Days6812016986116102987133625547
Days Payable941291331491154911477418510090
Cash Conversion Cycle-24-648-5982004915045291033
Working Capital Days-78-180-167-165-203-336-272-149-121-218-193-200
ROCE %-5%2%15%5%-1%-2%13%28%28%11%11%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters85.27%85.27%85.27%85.27%85.27%85.27%85.27%85.27%85.27%85.27%85.27%85.27%
FIIs0.00%0.00%0.13%0.00%0.00%0.00%0.03%0.05%0.09%0.00%0.01%0.02%
DIIs0.04%0.04%0.04%0.04%0.04%0.04%0.05%0.05%0.05%0.05%0.05%0.05%
Public14.69%14.69%14.56%14.69%14.69%14.69%14.66%14.63%14.59%14.68%14.67%14.67%
No. of Shareholders48,32353,46153,49860,26462,40561,35562,07361,57159,70759,02858,48057,972

Fundamentals

Market Cap₹ 939 Cr.
Current Price₹ 58.6
Stock P/E12.0
Book Value₹ 5.71
ROCE14.8 %
ROE292 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-5%
Compounded Profit Growth (TTM)15%
Standalone figures.
Valuation
Market capRs 922 Cr
Enterprise valueRs 900 Cr
P/E (TTM)12.99x
Price to book10.02x
Price to sales0.38x
EV / EBITDA5.54x
EV / EBIT6.07x
EV / sales0.37x
Price to cash flow174.25x
Earnings yield7.70%
P/E, 3-year average127.97x
P/B, 3-year average-21.59x
P/E, 5-year average66.49x
P/B, 5-year average-12.01x
Profitability
Operating margin (excl. other income)4.78%
Operating margin (incl. other income)7.59%
EBITDA margin6.65%
Pre-tax margin3.67%
Net profit margin2.91%
Net margin, latest quarter4.25%
ROE269.55%
ROCE14.09%
ROA3.52%
ROE, 3-year average69.78%
ROCE, 3-year average10.53%
ROA, 3-year average2.28%
ROE, 5-year average27.10%
ROCE, 5-year average17.41%
ROA, 5-year average5.43%
ROIC (approx.)165.89%
Tax rate21.40%
Other income / net worth70.48%
Growth
Sales growth (latest year)-9.50%
Profit growth (latest year)25.17%
Sales CAGR, 3 years-12.61%
Sales CAGR, 5 years8.46%
Profit CAGR, 3 years-24.29%
Profit CAGR, 5 years94.76%
Sales growth QoQ16.42%
Profit growth QoQ65.58%
Sales growth YoY (latest quarter)21.12%
Profit growth YoY (latest quarter)-21.49%
Per share
EPS (TTM)Rs 4.42
EPS (latest quarter)Rs 2.16
EPS, 3-year averageRs 2.14
EPS, 5-year averageRs 6.40
Book value per shareRs 5.73
Sales per shareRs 152.24
Cash flow per shareRs 0.33
Free cash flow per shareRs -1.37
Efficiency
Asset turnover0.99x
Fixed asset turnover10.64x
Inventory turnover7.72x
Inventory days47 days
Debtor days75 days
Debtors turnover4.87x
Creditor days90 days
Cash conversion cycle33 days
Working capital days-200 days
Leverage
Total debtRs 634 Cr
Cash and bankRs 656 Cr
Net debtRs -22 Cr
Debt to equity6.90x
Net debt / EBITDA-0.13x
Interest coverage2.52x
Current ratio (filing 2026-03-31)0.71x
Quick ratio (filing 2026-03-31)0.63x
Trade payables (filing 2026-03-31)Rs 317 Cr
Owners' fund to total sources3.94%
Debt to assets27.19%
Cash flow
Cash from Operating Activity (latest year)Rs 5 Cr
Cash from Investing Activity (latest year)Rs 31 Cr
Cash from Financing Activity (latest year)Rs -34 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -22 Cr
FCFE (approx.: FCF + change in debt)Rs -982 Cr
Cash from ops / profit, 5 years1.34x
Sales to cash flow434.85x
Statement figures
Net sales (TTM)Rs 2,442 Cr
Net sales (latest year)Rs 2,300 Cr
Sales (latest quarter)Rs 814 Cr
Operating profit excl. other income (latest year)Rs 110 Cr
Operating profit (latest quarter)Rs 53 Cr
Other income (TTM)Rs 65 Cr
EBITDA (TTM)Rs 162 Cr
PBDT (TTM)Rs 104 Cr
Profit before tax (TTM)Rs 90 Cr
Tax (latest year)Rs 22 Cr
Net profit (TTM)Rs 71 Cr
Net profit (latest year)Rs 80 Cr
Net profit (latest quarter)Rs 35 Cr
Depreciation (TTM)Rs 14 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 59 Cr
Cost of goods sold (latest year)Rs 1,290 Cr
Total expenditure (latest year)Rs 2,190 Cr
Total income (latest year)Rs 2,365 Cr
Share capitalRs 162 Cr
ReservesRs -70 Cr
Shareholders' fundsRs 92 Cr
Total assetsRs 2,333 Cr
Net blockRs 216 Cr
Capital work in progressRs 27 Cr
InvestmentsRs 575 Cr
ReceivablesRs 472 Cr
InventoryRs 167 Cr
Other liabilitiesRs 1,606 Cr
Shares outstanding (crore)16.04
Ownership
Promoter holding85.27% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 13.2 is at the 35th percentile of its own 6.4-year range (median 20.9, low 4.4, high 348.5).
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.
PeriodMADRASFERTNifty 50Difference
1 week-5.4%-2.8% -2.6 pts
1 month-11.2%-6.8% -4.4 pts
3 months-18.3%-7.6% -10.7 pts
6 months+8.3%+0.4% +7.9 pts
1 year-34.5%-9.9% -24.6 pts
2 years-45.5%-13.6% -32.0 pts
3 years-25.0%+14.2% -39.2 pts
5 years+88.4%+27.9% +60.5 pts

Red flags

F-score 5 of 8
explainReceivables outrunning sales Receivables grew 23% vs sales -10% in 2026
lookProfit leans on other income Other income was 63% of pre-tax profit in 2026
lookAuditor change Auditor change 2025-11-11: Madras Fertilizers Limited has informed the Exchange regarding Change in Auditors of the company.
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 ₹814 Cr +21.1% vs Jun 2025. Net profit ₹35 Cr -20.5%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-19Annual General Meeting
2023-09-18Annual General Meeting
2022-09-13Annual General Meeting
2021-09-22 Annual General Meeting
2020-12-21 Annual General Meeting
2019-09-11 Annual General Meeting
2018-09-18 Annual General Meeting
2017-09-14 Annual General Meeting
2016-09-20 Annual General Meeting
2015-09-18 Annual General Meeting
2014-09-19Annual General Meeting
2013-09-17Annual General Meeting
2012-09-04Annual General Meeting
2011-09-07Annual General Meeting
2010-09-01Annual General Meeting
2009-09-03Annual General Meeting
2008-09-04Annual General Meeting
2007-09-06Agm
2006-09-14Agm
DateTypeWhat it says
2026-09-25Shareholder meetingVoting results of Annual General Meeting held on September 24, 2026
2026-09-24Shareholder meetingShareholders meeting
2026-09-01UpdatesNotice of 60th AGM.
2026-09-01UpdatesIn accordance with Regulation 36(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Company has sent a letter provi...
2026-09-01UpdatesSubmission of BRSR for the financial year ended 31.03.2026.
2026-09-01UpdatesNotice of 60th AGM.
2026-09-01UpdatesE Voting. This is to inform that the 60th Annual General Meeting of the Company will be held on Thursday, September 24, 2026 at 11.00 a.m. (IST) t...
2026-09-01UpdatesIntimation of Book Closure for 60th AGM. Pursuant to the provisions of Section 91 of the Companies Act, 2013 and Regulation 42 of SEBI (Listing Obliga...
2026-09-01Shareholder meetingNotice of Annual General Meeting to be held on September 24, 2026
2026-08-25Director changeChange in Director(s) of the company.
2026-08-24Director changeChange in Director(s) of the company.
2026-08-11Integrated Filing- FinancialPursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the outcome of the Board meeting he...
2026-08-11Board meeting outcomeMadras Fertilizers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-06-27Commencement of commercial pCommencement of commercial production/operations
2026-06-19Director changeChange in Director(s) of the company.
2026-06-18Director changeChange in Director(s) of the company.
2026-06-17Disclosure under SEBI TakeovGovernment of India Minitry of Chemicals & Fertilizers has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and...
2026-06-15Disruption of OperationsDisruption of Operations
2026-05-12Integrated Filing- FinancialThe Board of Directors of MFL at their meeting held today has approved the Standalone Audited Financial Statements for the 4th quarter and year ended ...
2026-05-12Board meeting outcomeMadras Fertilizers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-17CessationCessation of CA. Alok Kumar Agrawal as Non- Executive Independent Director of the company w.e.f. April 16, 2026.
2026-04-17CessationCessation of Mr. Sanjay Vishnu Shetye as Non- Executive Independent Director of the company w.e.f. April 16, 2026.
2026-04-02Disclosure under SEBI TakeovManoj Kumar, Deputy Secretary to the Government of India has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities a...
2026-03-30Board meeting outcomeOutcome of Board Meeting held on March 30, 2026.
2026-02-11Integrated Filing- FinancialOutcome of Board Meeting held on February 11, 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.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Madras Fertilizers Ltd?

Madras Fertilizers Ltd (MADRASFERT) has a market capitalisation of Rs 939 Cr. at the 2026-10-01 close.

What is the P/E ratio of Madras Fertilizers Ltd?

Madras Fertilizers Ltd trades at a P/E of 12.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Madras Fertilizers Ltd's latest quarterly results?

In the Jun 2026 quarter, Madras Fertilizers Ltd sales was Rs 814 Cr (+21.1% vs Jun 2025) and net profit was Rs 35 Cr.

What is the 52-week high and low of Madras Fertilizers Ltd?

The 52-week high is Rs 86.95 and the 52-week low is Rs 52.56.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03