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National Fertilizers Ltd (NFL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523630 NSE: NFL Fertilizers | Small Cap | National Fertilizers Share Price

₹70.51 0.14 (0.20%)

As on 01-Sep'26 16:59

National Fertilizers Ltd (NFL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523630 NSE: NFL Fertilizers | Small Cap | National Fertilizers Share Price

₹70.51 0.14 (0.20%)

As on 01-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,459 Cr.
Current Price
₹70.5
52-Week Low / High
₹64 / 103
TTM EPS
₹5.6
TTM Sales
₹22,480 Cr.
Book Value per Share
₹59.5
P/E Ratio
12.69
Lower than its 5-year historical median
Industry PE
15.3
Price to Book (P/B)
1.19
Lower than its 5-year historical median
Price to Sales (P/S)
0.15
Lower than its 5-year historical median
EV/EBITDA
6.89
Lower than its 5-year historical median
Dividend Yield
1.47%
Profitability Efficiency
Return on Equity (ROE)
6.05%
Underperforms industry median
Return on Capital Employed (ROCE)
8.39%
Underperforms industry median
Return on Assets (ROA)
1.61%
Operating Profit Margin
3.9%
Net Profit Margin
0.79%
Gross Profit Margin
3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
8.69%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
35.9%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
122.46%
Asset Quality
Promoter Holding
74.71%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,427 Cr.
Equity
₹490.6 Cr.
Face Value
₹10
All Time Low / High
₹2.75 / 169.95

National Fertilizers stock performance

Key Ratios
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Check Before You Invest

Quality

Not Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Semi Strong
Check Price chart
Q.1 Is National Fertilizers Ltd a good quality company?
National Fertilizers Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does National Fertilizers Ltd performance compare with that of its Peers?
Q.1 Revenue growth of National Fertilizers Ltd vs industry peers?
National Fertilizers Ltd revenue CAGR is 8.55%, compared to the industry median CAGR of 8.55%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of National Fertilizers Ltd?
Promoters hold 74.71% of the National Fertilizers Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of National Fertilizers Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.9% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
National Fertilizers Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ9.4%10.4%11.4%1.7%9.1%5.9%15%5.4%5.8%8.4%-
Value Creation
Index ⓘ		-0.3-0.3-0.2-0.9-0.4-0.60.1-0.6-0.6-0.4-

Growth Parameters ⓘ
Sales ⓘ7,6008,94312,42913,13511,90615,85729,58423,56019,79521,51422,480
Sales YoY Gr.-17.7%39%5.7%-9.4%33.2%86.6%-20.4%-16%8.7%-
Adj EPS ⓘ4.23.862.15.32.38.81.51.53.75.6
YoY Gr.--9.7%57.2%-65.4%158%-56.9%284.4%-82.9%0.7%140.8%-
BVPS (₹) ⓘ37.240.545.239.244.347.256.555.156.35859.5
Adj Net
Profit ⓘ		2071872941022621134337474.4180273
Cash Flow from Ops. ⓘ2,4531,661-2,699-3097,034-826-3355832,485-1,384-
Debt/CF from Ops. ⓘ1.71.8-2.4-26.20.3-3.8-11.970.8-2.9-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ12.3%12.6%-10.1%8.7%
Adj EPS ⓘ-1.6%-7.3%-25.5%140.8%
BVPSⓘ5.1%5.6%0.9%3%
Share Price 8.1% 3.9% 1.2% -28.1%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		11.89.8144.912.85172.72.76.49.5
Op. Profit
Mgn % ⓘ		7.368.16.67.93.73.52.73.244.5
Net Profit
Mgn % ⓘ		2.72.12.40.82.20.71.50.30.40.81.2
Debt to
Equity ⓘ		2.31.52.94.20.91.41.41.50.71.4-
Working Cap
Days ⓘ		3242282162682041088711610810668
Cash Conv.
Cycle ⓘ		2231701782241577156746364-0

Valuation of National Fertilizers - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales7,6008,94312,42913,13511,90615,85729,58423,56019,79521,514
Operating Expenses ⓘ + 7,0438,40711,41812,27510,98915,27828,54122,94419,18220,682
Manufacturing Costs3,0463,2754,2284,4733,8195,2656,8515,1255,2385,200
Material Costs3,3544,2526,4647,0146,3509,17119,56815,73912,11613,538
Employee Cost 488725556599626649659636612624
Other Costs ⓘ 1541551701891931931,4631,4441,2161,320
Operating Profit ⓘ 5575361,0118619175791,043617612832
Operating Profit Margin (%) 7.3%6.0%8.1%6.6%7.7%3.7%3.5%2.6%3.1%3.9%
Other Income ⓘ + 176109575933372271109859
Exceptional Items ⓘ 000-389000000
Interest ⓘ 323237320409294137308277233253
Depreciation ⓘ 8573285374312335353362373405
Profit Before Tax ⓘ 325335463-25334314561089104233
Tax ⓘ 117122165-829437154242863
Profit After Tax 208213298-1712501084566576170
PAT Margin (%) 2.7%2.4%2.4%-1.3%2.1%0.7%1.5%0.3%0.4%0.8%
Adjusted EPS (₹)4.24.36.1-3.55.12.29.31.31.63.5
Dividend Payout Ratio (%)0%0%30.60%-27.30%0%0%30%20.50%100.40%30.10%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,8271,9872,2191,9212,1712,3142,7742,7012,7642,847
Share Capital ⓘ 491491491491491491491491491491
Reserves ⓘ 1,3361,4971,7281,4301,6811,8242,2832,2112,2732,357
Debt +3,3263,0056,4027,9311,7833,0653,8874,0881,9963,959
Long Term Debt172115280597648630535000
Short Term Debt3,1542,8906,1227,3341,1352,4353,3534,0881,9963,959
Minority Interest0000000000
Trade Payables4054916218977301,4481,7561,3481,5381,479
Others Liabilities ⓘ 4,6244,1454,6703,8073,7773,9154,4433,2303,0633,467
Total Liabilities ⓘ 10,1829,62813,91214,5558,46210,74312,86011,3679,36011,752

Fixed Assets

Net Fixed Assets ⓘ +4,0594,0803,9923,7243,6144,2293,9683,8303,6933,533
Gross Block4,6034,9265,1145,2185,4206,3626,4446,6596,8947,139
Accumulated Depreciation5448471,1221,4941,8062,1332,4762,8293,2013,606
CWIP ⓘ 5164133656862138178242172161
Investments ⓘ 125219274342448491491491491502
Inventories5755261,5861,2764382,2553,0701,7509111,085
Trade Receivables4,2673,9247,1567,7352,6342,8084,1194,0373,2735,411
Cash Equivalents 8101922422916383359
Others Assets ⓘ 1,0978067527984237921,0189797881,001
Total Assets ⓘ 10,1829,62813,91214,5558,46210,74312,86011,3679,36011,752
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 2,4531,661-2,699-3097,034-826-3355832,485-1,384
PBT ⓘ 325335463-25334314561089104233
Adjustment ⓘ 264215408500433277517436402460
Changes in Working Capital ⓘ 19381203-3483-5136275-1194-1324601914-2034
Tax Paid ⓘ -74-91-88-43-18-54-138-265-42
Cash Flow From Investing Activity ⓘ + -202-346-314-820-509-333-203-249-163-222
Capex -89-298-266-756-414-293-207-283-172-223
Net Investments -129-65-55-68-106-44000-10
Others ⓘ 161764114433911
Cash Flow From Financing Activity ⓘ + -2,250-1,3143,0221,132-6,5051,145526-318-2,3341,643
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ -847-811171427-16-18-95-63900
Interest Paid ⓘ -190-190-316-404-288-135-294-276-226-242
Dividend Paid ⓘ -71-50-64-102000-137-13-77
Others ⓘ -1,142-2633,2321,210-6,2011,298915735-2,0951,961
Net Cash Flow ⓘ 119320-14-1316-1237
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)11.8411.1614.19-8.2612.24.8217.932.372.796.05
ROCE (%)9.410.3811.411.679.065.9114.985.395.848.39
Asset Turnover Ratio0.690.91.060.921.031.652.511.941.912.04
PAT to CFO Conversion(x)11.797.8-9.06N/A28.14-7.65-0.738.9732.7-8.14
Working Capital Days
Receivable Days216.60167162.70206.9015962.6042.7063.2067.4073.70
Inventory Days25.3022.403139.8026.303132.9037.3024.5016.90
Payable Days38.8038.5031.4039.5046.8043.4029.903643.5040.70

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National Fertilizers Ltd FAQs

The current trading price of National Fertilizers on 01-Sep-2026 16:59 is ₹70.51.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Aug-2026 the market cap of National Fertilizers stood at ₹3,459.1 Cr

The latest P/E ratio of National Fertilizers as of 31-Aug-2026 is 12.69.

The latest P/B ratio of National Fertilizers as of 31-Aug-2026 is 1.19.

The 52-week high of National Fertilizers is ₹103.0 and the 52-week low is ₹63.90.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of National Fertilizers is ₹22,480 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that National Fertilizers Ltd is a below average quality company.

The key valuation ratios of National Fertilizers Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of National Fertilizers Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About National Fertilizers Ltd

National Fertilizers (NFL) incorporated in 1974 is second largest producer of Nitrogenous Fertilizers in the India commanding 16.5% of market share. Company started its operation by setting up two manufacturing Units at Bathinda and Panipat. NFL is public sector undertaking which is controlled by Department of Fertilizers in the Ministry of Chemicals & Fertilizers.

In 1978 the Nangal Unit of Fertilizer Corporation of India was shifted to NFL. A decade later company expanded its capacity by installing gas based plant located at Vijaipur in Madhya Pradesh. Later in 1997 company doubled its capacity by setting up another unit- Vijaipur-II and increased it to 14.52 lakh MTs.

The company was given responsibility by Government of India to revive the closed Urea plants of HFCL and FCI located at Baruani and Ramagundam. Company received ISO-9001 (2000), ISO-14001 and OSHAS-18001 certification for quality management. Company also undertakes R&D activities and has developed value added products such as Zincated, Sulphur Coated Urea and Neem coated Urea.

Company’s Kisan Urea is highly concentrated, solid, nitrogenous fertilizer, containing 46.0% and very popular brand with a pan-India presence.

Company manufactures Bio-Fertiliser such as Nitrogen Bio-Fertilizer, Azetobactor and Phosphorous Bio-fertilizer. The product has market presence in Madhya Pradesh, Maharashtra, Uttar Pradesh, Uttrakhand, Chattisgarh, Bihar, Jharkhand, Himachal Pradesh, Jammu & Kashmir, Punjab, Haryana and Rajasthan.

Company also manufactures spectrum of industrial products which include Methanol, Sodium Nitrate, Sodium Nitrite, Nitric Acid, Sulphur, Liquid Oxygen, Liquid CO2, Liquid Nitrogen etc.

AwardsNCL’s Vijaipur unit was awarded at National Productivity Award for Bio-Fertilizers in 2002-03 for it productivity.

NCL’s Vijaipur unit received FAI Award for Best Overall Performance of an Operating Nitrogenous Fertilizer unit.

Company has received Green Tech Environment Excellence Silver Award 2007 for its outstanding achievement in environment management from Green Tech Foundation.

New DevelopmentNational Fertilizers has formed a joint venture RCF and KRIBHCO to promote Urvarak Videsh. The company was formed to explored investment opportunities in India and abroad in segments like nitrogenous, phosphatic and potassic sectors.

In 2010 National Fertilizers entered into business of power generation.

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