National Fertilizers Limited

NSE: NFL · Fertilizers

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Snapshot

Unlock National Fertilizers Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

National Fertilizers Limited is a prominent Indian state-owned enterprise engaged in the production and marketing of urea, bio-fertilizers, and various industrial chemicals. The company operates across segments including own fertilizer production, fertilizer trading, and other allied agricultural products and services.

Business Model

The company generates revenue primarily through the manufacturing and sale of urea under the KISAN brand, supplemented by the trading of imported fertilizers and agrochemicals. It further diversifies its income streams by producing industrial chemicals and certified seeds.

  • Incorporation Year:1974

Growth Outlook

Growth is driven by the expansion of the bio-fertilizer portfolio and the continued demand for high-quality urea and industrial chemicals within the Indian agricultural sector. The company leverages its established KISAN brand to maintain market penetration across diverse crop segments.

Key Risks

  • Regulatory and Subsidy Risk. The company's profitability is highly sensitive to changes in the Indian government's fertilizer subsidy policies and pricing regulations.
  • Input Cost Volatility. Fluctuations in the prices of natural gas, a primary feedstock for urea production, can significantly impact operating margins.
  • Monsoon Dependency. As an agricultural-focused entity, the company's sales volume is inherently linked to the success and timing of the monsoon season in India.
  • Competitive Market Environment. The fertilizer industry faces intense competition from both domestic manufacturers and imported products, which can exert pressure on pricing power.

Price

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Key Metrics

REVENUE

₹21,514 Cr

TTM · consolidated

+8.7%YoY

NET PROFIT

₹211 Cr

TTM · consolidated

+15.0%YoY

EPS

₹4.32

TTM · consolidated

+15.2%YoY

RETURN ON EQUITY

7.7%

TTM · consolidated

+0.6 ppYoY

RETURN ON CAPITAL EMPLOYED

11.0%

TTM · consolidated

+3.5 ppYoY

P/E

17.0x

Q4 FY26 · consolidated

17.0 vs 24.1x5Y avg

EV/EBITDA

8.5x

Q4 FY26 · consolidated

8.5 vs 9.5x5Y avg

EBITDA MARGIN

4.1%

TTM · consolidated

+0.5 ppYoY

NET PROFIT MARGIN

3.5%

Q4 FY26 · consolidated

+0.5 ppYoY

DEBT TO EQUITY

1.4x

Q4 FY26 · consolidated

+0.66xYoY

Peers · Fertilizers

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
National Fertilizers LimitedNFL
3,37916.988.458.7%4.1%7.7%11.0%-26.7%
Madhya Bharat Agro Products LimitedMBAPL
3,9957.6827.2176.3%13.0%34.1%29.1%-69.8%
Mangalore Chemicals & Fertilizers LimitedMANGCHEFER
3,65922.67-52.2%11.0%11.9%20.3%
Krishana Phoschem LimitedKRISHANA
2,8994.8116.0678.0%13.0%42.1%43.7%-71.0%
Jubilant Agri and Consumer Products Ltd.JUBLCPL
2,45523.6515.1610.7%35.6%43.9%+14.4%
S P I CSPIC
1,2396.425.47-4.2%12.1%17.0%22.0%-21.7%

As of Q4 FY26

Financials