Is National Fertilizers Ltd (NFL) a good quality company?

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

Is National Fertilizers Ltd (NFL) undervalued or overvalued?

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

What is National Fertilizers Ltd (NFL) share price return in the past 10 years?

National Fertilizers Ltd share price has appreciated 9.7% annually (CAGR) over the past ten years.

Is National Fertilizers Ltd (NFL) a good buy now?

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.

What is the share price of National Fertilizers Ltd (NFL)?

Company share prices are keep on changing according to the market conditions. The current trading price of National Fertilizers Ltd (NFL) on 17-Apr-2026 16:59:59 at 16:59 is 77.40.

What is the P/E ratio of National Fertilizers?

The latest standalone P/E ratio of National Fertilizers as of 17-Apr-2026 is 25.52.

What is the P/B ratio of National Fertilizers Ltd (NFL)?

The latest standalone P/B ratio of National Fertilizers Ltd (NFL) as of 17-Apr-2026 is 1.39.

What is the 52-week high and low of National Fertilizers Ltd (NFL)?

The 52-week high of National Fertilizers Ltd (NFL) is Rs. 112.11 and the 52-week low is Rs. 63.90.

National Fertilizers Ltd (NFL) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: National Fertilizers Ltd (NFL)
Brand: National Fertilizers

National Fertilizers Ltd (NFL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Key Metrics

Market Cap

₹3,797 Cr.

P/E Ratio

25.52

Price to Book (P/B)

1.39

Price to Sales (P/S)

0.18

EV/EBITDA

10.17

Return on Capital Employed (ROCE)

5.84%

Current Price

₹77.4

Return on Equity (ROE)

2.79%

Return on Assets (ROA)

0.74%

Operating Profit Margin

3.2%

Net Profit Margin

0.39%

Gross Profit Margin

2.4%

Book Value per Share

₹55.8

Sales Growth (YoY)

-15.98%

Sales Growth (3 Years)

7.67%

Operating Profit Growth (1 Year)

-0.74%

Operating Profit Growth (3 Years)

1.85%

Net Profit Growth (1 Year)

17.79%

52-Week Low / High

₹64 / 112

Net Profit Growth (3 Years)

-11.01%

Dividend Yield

1.94%

Promoter Holding

74.71%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of National Fertilizers Ltd?

National Fertilizers Ltd revenue growth is -16% for FY-2025 , which is below its 5 year CAGR of 8.6% , indicating slower growth.

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 Revenue growth of National Fertilizers Ltd vs industry peers?

National Fertilizers Ltd revenue CAGR is 8.55% , compared to the industry median CAGR of 8.22% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does National Fertilizers Ltd belong to?

National Fertilizers Ltd belongs to the Chemicals & Fertilizers sector, operating specifically within the Fertilizers segment.

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 9.6% based on the current price.

DeciZen - make an informed investing decision on National Fertilizers

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

National Fertilizers stock performance

Key Ratios

Is National Fertilizers Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	8.5%	9.4%	10.4%	11.4%	1.7%	9.1%	5.9%	15%	5.4%	5.8%	-
Value Creation Index ⓘ	-0.4	-0.3	-0.3	-0.2	-0.9	-0.4	-0.6	0.1	-0.6	-0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	7,757	7,600	8,943	12,429	13,135	11,906	15,857	29,584	23,560	19,795	21,624
Sales YoY Gr.	-	-2%	17.7%	39%	5.7%	-9.4%	33.2%	86.6%	-20.4%	-16%	-
Adj EPS ⓘ	4	4.2	3.8	6	2.1	5.3	2.3	8.8	1.5	1.5	3
YoY Gr.	-	6%	-9.7%	57.2%	-65.4%	158%	-56.9%	284.4%	-82.9%	0.7%	-
BVPS (₹) ⓘ	34.5	37.2	40.5	45.2	39.2	44.3	47.2	56.5	55.1	56.3	55.8
Adj Net Profit ⓘ	195	207	187	294	102	262	113	433	74	74.4	149
Cash Flow from Ops. ⓘ	1,850	2,453	1,661	-2,699	-309	7,034	-826	-335	583	2,482	-
Debt/CF from Ops. ⓘ	3.3	1.7	1.8	-2.4	-26.2	0.3	-3.8	-11.9	7	0.8	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11%	8.6%	7.7%	-16%
Adj EPS ⓘ	-10.1%	-6%	-12.9%	0.7%
BVPSⓘ	5.6%	7.6%	6.1%	2.3%
Share Price	9.7%	8.3%	1.2%	-8.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	12.3	11.8	9.8	14	4.9	12.8	5	17	2.7	2.7	5.4
Op. Profit Mgn % ⓘ	7.2	7.3	6	8.1	6.6	7.9	3.7	3.5	2.7	3.2	3.5
Net Profit Mgn % ⓘ	2.5	2.7	2.1	2.4	0.8	2.2	0.7	1.5	0.3	0.4	0.7
Debt to Equity ⓘ	3.6	2.3	1.5	2.9	4.2	0.9	1.4	1.4	1.5	0.7	-
Working Cap Days ⓘ	388	324	228	216	268	204	108	87	116	108	55
Cash Conv. Cycle ⓘ	236	223	170	178	224	157	71	56	74	63	-0

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	3	4
TTM Sales (₹ Cr.)	21,624	21,624
BVPS (₹) ⓘ	55.8	54.2
Reserves (₹ Cr.) ⓘ	2,249	2,168
P/BV ⓘ	1.39	1.43
PE ⓘ	25.52	19.50

From the Market
52 Week Low / High (₹)	63.90 / 112.11
All Time Low / High (₹)	2.75 / 169.95
Market Cap (₹ Cr.)	3,797
Equity (₹ Cr.)	490.6
Face Value (₹)	10
Industry PE ⓘ	23.2

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of National Fertilizers - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	7,757	7,600	8,943	12,429	13,135	11,906	15,857	29,584	23,560	19,795
Operating Expenses ⓘ +	7,202	7,043	8,407	11,418	12,275	10,989	15,278	28,541	22,944	19,182
Manufacturing Costs	3,130	3,046	3,275	4,228	4,473	3,819	5,265	6,851	5,125	5,239
Material Costs	3,482	3,354	4,252	6,464	7,014	6,350	9,171	19,568	15,739	12,116
Employee Cost	457	488	725	556	599	626	649	659	636	610
Other Costs ⓘ	132	154	155	170	189	193	193	1,463	1,444	1,218
Operating Profit ⓘ	556	557	536	1,011	861	917	579	1,043	617	612
Operating Profit Margin (%)	7.2%	7.3%	6.0%	8.1%	6.6%	7.7%	3.7%	3.5%	2.6%	3.1%
Other Income ⓘ +	253	176	109	57	59	33	37	227	110	98
Exceptional Items ⓘ	0	0	0	0	-389	0	0	0	0	0
Interest ⓘ	433	323	237	320	409	294	137	308	277	233
Depreciation ⓘ	87	85	73	285	374	312	335	353	362	373
Profit Before Tax ⓘ	288	325	335	463	-253	343	145	610	89	104
Tax ⓘ	90	117	122	165	-82	94	37	154	24	28
Profit After Tax	199	208	213	298	-171	250	108	456	65	76
PAT Margin (%)	2.6%	2.7%	2.4%	2.4%	-1.3%	2.1%	0.7%	1.5%	0.3%	0.4%
Adjusted EPS (₹)	4.1	4.2	4.3	6.1	-3.5	5.1	2.2	9.3	1.3	1.6
Dividend Payout Ratio (%)	30%	0%	0%	31%	-27%	0%	0%	30%	20%	100%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	1,691	1,827	1,987	2,219	1,921	2,171	2,314	2,774	2,701	2,764
Share Capital ⓘ	491	491	491	491	491	491	491	491	491	491
Reserves ⓘ	1,200	1,336	1,497	1,728	1,430	1,681	1,824	2,283	2,211	2,273
Debt +	5,281	3,326	3,005	6,402	7,931	1,783	3,065	3,887	4,088	1,996
Long Term Debt	986	172	115	280	597	648	630	535	0	0
Short Term Debt	4,295	3,154	2,890	6,122	7,334	1,135	2,435	3,353	4,088	1,996
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	307	405	491	621	897	730	1,448	1,756	1,348	1,537
Others Liabilities ⓘ	4,708	4,624	4,145	4,670	3,807	3,777	3,915	4,443	3,230	3,063
Total Liabilities ⓘ	11,987	10,182	9,628	13,912	14,555	8,462	10,743	12,860	11,367	9,360
Fixed Assets
Net Fixed Assets ⓘ +	4,259	4,059	4,080	3,992	3,724	3,614	4,229	3,968	3,830	3,693
Gross Block	4,531	4,603	4,926	5,114	5,218	5,420	6,362	6,444	6,659	6,894
Accumulated Depreciation	272	544	847	1,122	1,494	1,806	2,133	2,476	2,829	3,201
CWIP ⓘ	33	51	64	133	656	862	138	178	242	172
Investments ⓘ	15	125	219	274	342	448	491	491	491	491
Inventories	486	575	526	1,586	1,276	438	2,255	3,070	1,750	911
Trade Receivables	4,803	4,267	3,924	7,156	7,735	2,634	2,808	4,119	4,037	3,273
Cash Equivalents	7	8	10	19	22	42	29	16	38	33
Others Assets ⓘ	2,385	1,097	806	752	798	423	792	1,018	979	788
Total Assets ⓘ	11,987	10,182	9,628	13,912	14,555	8,462	10,743	12,860	11,367	9,360

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	1,850	2,453	1,661	-2,699	-309	7,034	-826	-335	583	2,482
PBT ⓘ	288	325	335	463	-253	343	145	610	89	104
Adjustment ⓘ	304	264	215	408	500	433	277	517	436	402
Changes in Working Capital ⓘ	1313	1938	1203	-3483	-513	6275	-1194	-1324	60	1911
Tax Paid ⓘ	-55	-74	-91	-88	-43	-18	-54	-138	-2	65
Cash Flow From Investing Activity ⓘ +	-88	-202	-346	-314	-820	-509	-333	-203	-249	-160
Capex	-77	-89	-298	-266	-756	-414	-293	-207	-283	-172
Net Investments	-22	-129	-65	-55	-68	-106	-44	0	0	0
Others ⓘ	11	16	17	6	4	11	4	4	33	12
Cash Flow From Financing Activity ⓘ +	-1,760	-2,250	-1,314	3,022	1,132	-6,505	1,145	526	-318	-2,334
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-814	-847	-811	171	427	-16	-18	-95	-639	0
Interest Paid ⓘ	-228	-190	-190	-316	-404	-288	-135	-294	-276	-226
Dividend Paid ⓘ	-10	-71	-50	-64	-102	0	0	0	-137	-13
Others ⓘ	-707	-1,142	-263	3,232	1,210	-6,201	1,298	915	735	-2,095
Net Cash Flow ⓘ	2	1	1	9	3	20	-14	-13	16	-12

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	12.52	11.84	11.16	14.19	-8.26	12.2	4.82	17.93	2.37	2.79
ROCE (%)	8.52	9.4	10.38	11.41	1.67	9.06	5.91	14.98	5.39	5.84
Asset Turnover Ratio	0.61	0.69	0.9	1.06	0.92	1.03	1.65	2.51	1.94	1.91
PAT to CFO Conversion(x)	9.3	11.79	7.8	-9.06	N/A	28.14	-7.65	-0.73	8.97	32.66
Working Capital Days
Receivable Days	230	217	167	163	207	159	63	43	63	67
Inventory Days	18	25	22	31	40	26	31	33	37	25
Payable Days	25	39	38	31	39	47	43	30	36	43

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National Fertilizers Ltd FAQs

The current trading price of National Fertilizers on 17-Apr-2026 16:59 is ₹77.40.

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 16-Apr-2026 the market cap of National Fertilizers stood at ₹3,797.1 Cr

The latest P/E ratio of National Fertilizers as of 16-Apr-2026 is 25.52.

The latest P/B ratio of National Fertilizers as of 16-Apr-2026 is 1.39.

The 52-week high of National Fertilizers is ₹112.1 and the 52-week low is ₹63.90.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of National Fertilizers is ₹21,624 ( Cr.) .

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.

Companyâ€™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.

AwardsNCLâ€™s Vijaipur unit was awarded at National Productivity Award for Bio-Fertilizers in 2002-03 for it productivity.

NCLâ€™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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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

National Fertilizers Ltd (NFL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

National Fertilizers Share Price