Gujarat State Fertilizers & Chemicals (GSFC) had a P/E of 9.8× on 6 Nov 2026, below the industry P/E of 14.4×, and the shares are 30% below their 52-week high. Sales grew 25% a year over 3 years while net profit fell 19%; its ROCE of 6.6% is the lowest among the 7 largest Agricultural Inputs peers. It carries very little debt, and its dividend yield is 3.7%. It is a small-cap company with a market cap of ₹5,555 Cr, ranked 14th of 72 Agricultural Inputs companies by market cap; the shares fell 26% over the past year.
- ₹142.05
- ₹142.21
- ₹138.15
- ₹141.54
- 3.8 L
Health check
- ReturnsIn line
−26.1% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 9.8 vs industry 14.4.
- GrowthSteady
Sales +25.4%, profit −19.0% a year over 3 years.
- ProfitabilityWeak
ROCE 6.6% vs peer median 20.9%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flags3 to check
Return on equity is low at 5.5%.
Small cap
Defensive
Key metrics
- Market cap
- ₹5,555 Cr
- Small cap
- P/E
- 9.8
- Industry 14.4
- Price to book
- 0.45
- Peers 4.28
- Dividend yield
- 3.66%
- ROE
- 5.5%
- Peers 16.2%
- ROCE
- 6.6%
- Peers 20.9%
- Debt to equity
- 0.00
- Debt ₹27 Cr
- EPS (TTM)
- ₹14.27
- Face value ₹2
- OPM (TTM)
- 4.6%
- Net margin 5.6%
- Sales growth
- +48.7%
- Latest quarter vs a year ago
- Profit growth
- −38.2%
- Latest quarter vs a year ago
- Price to sales
- 0.45
- EV/EBITDA 6.4
Strengths and risks
Strengths
- Practically debt-free.
- Dividend yield of 3.66%.
- Quarterly sales up 48.7% on a year ago.
- P/E of 9.8 against an industry P/E of 14.4.
Risks to check
- Return on equity is low at 5.5%.
- Quarterly profit down 38.2% on a year ago.
- 30% below its 52-week high.
About Gujarat State Fertilizers & Chemicals
Gujarat State Fertilizers & Chemicals Limited produces and sells fertilizers and chemicals in India. The company operates in two segments, Fertilizer Products and Industrial Products. It offers fertilizers, including neem coated urea, di-ammonium phosphate, boronated NPK, muriate of potash, ammonium phosphate sulphate, gypsum, and ammonium sulphate. The company provides industrial products, such as caprolactam, nylon-6, anhydrous ammonia, cyclohexanone,…
- Headquarters
- Vadodara
- Employees
- 2,612
- Sector
- Basic Materials
- ISIN
- INE026A01025
- Website
- gsfclimited.com
Price range
- Avg volume (3M)
- 9 L
- 1-year return
- minus 26.1%
- From 52-week high
- minus 30.1%
Peers · Agricultural Inputs
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| COROMANDELCoromandel International | 1,824.00 | minus 4.00% | 53,724 | 34.5 | 17.0 | 20.9% | 9.4% | 0.11 | 10.2% | minus 12.4% |
| FACTFertilisers and Chemicals Travancore | 750.25 | minus 1.24% | 48,547 | – | 703.5 | 14.2% | 0.0% | 2.95 | 0.0% | minus 15.3% |
| UPLUPL | 534.90 | plus 1.60% | 45,214 | 23.9 | 6.0 | 9.9% | 20.0% | 0.83 | −1.2% | minus 28.0% |
| PIINDPI Industries | 1,735.00 | minus 1.98% | 26,321 | 30.0 | 13.1 | 14.7% | 24.2% | 0.03 | 1.1% | minus 51.9% |
| SUMICHEMSumitomo Chemical India | 328.95 | plus 0.34% | 16,419 | 29.4 | 21.0 | 21.0% | 20.3% | 0.02 | −2.6% | minus 34.4% |
| CHAMBLFERTChambal Fertilizers & Chemicals | 384.70 | minus 0.91% | 15,413 | 8.1 | 5.7 | 21.8% | 13.7% | 0.16 | −9.2% | minus 19.4% |
| BAYERCROPBayer Cropscience | 3,316.30 | plus 0.48% | 14,904 | 20.0 | 15.4 | 27.9% | 16.0% | 0.03 | 3.6% | minus 31.7% |
| GSFCGujarat State Fertilizers & Chemicals | 139.40 | minus 1.51% | 5,555 | 9.8 | 5.2 | 6.6% | 6.7% | 0.00 | 25.4% | minus 26.1% |
| Median of 7 peers | – | −0.91% | 26,321 | 26.6 | 15.4 | 20.9% | 16.0% | 0.11 | 0.0% | −28.0% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 3,187 | 2,941 | 2,633 | 3,583 | 4,741 | |
| 2,851 | 2,763 | 2,550 | 3,350 | 4,601 | |
| 337 | 178 | 83.2 | 233 | 140 | |
| 10.6% | 6.0% | 3.2% | 6.5% | 2.9% | |
| 144 | 57.2 | 39.3 | 36.7 | 179 | |
| 1.8 | 1.4 | 3.7 | 10.2 | 14.8 | |
| 50.5 | 50.4 | 53.4 | 54 | 54.8 | |
| 428 | 183 | 65.3 | 205 | 249 | |
| 24.4% | 13.6% | 20.1% | 22.7% | 19.7% | |
| 324 | 158 | 52.1 | 159 | 200 | |
| 8.13 | 3.97 | 1.30 | 3.98 | 5.02 |
Profit & loss
- Sales CAGR 3Y
- +25.4%
- Profit CAGR 3Y
- −19.0%
- EPS CAGR 3Y
- −19.0%
- ROE
- 5.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,545 | 5,614 | 9,528 | 10,936 | |
| – | +1.2% | +69.7% | +14.8% | |
| 3,930 | 5,035 | 8,826 | 10,120 | |
| 1,615 | 579 | 702 | 816 | |
| 29.1% | 10.3% | 7.4% | 7.5% | |
| 123 | 318 | 273 | 258 | |
| 12 | 8.7 | 7.9 | 11.5 | |
| 185 | 186 | 195 | 204 | |
| 1.7 | 2.5 | −15.3 | 2 | |
| 1,543 | 704 | 756 | 861 | |
| 17.9% | 19.9% | 21.8% | 21.9% | |
| 1,266 | 564 | 591 | 673 | |
| – | minus 55.4% | +4.8% | +13.8% | |
| 31.77 | 14.16 | 14.83 | 16.88 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 79.7 | 79.7 | 79.7 | 79.7 | |
| 11,960 | 12,647 | 12,059 | 12,187 | |
| 2.4 | 5.1 | 1.8 | 26.7 | |
| 1,867 | 2,319 | 2,229 | 2,096 | |
| 13,909 | 15,051 | 14,369 | 14,390 | |
| 3,112 | 3,184 | 3,518 | 3,559 | |
| 535 | 638 | 1,018 | 232 | |
| 5,209 | 5,886 | 4,931 | 4,474 | |
| 1,433 | 2,300 | 1,904 | 1,356 | |
| 3,621 | 3,042 | 2,999 | 4,767 | |
| 13,909 | 15,051 | 14,369 | 14,390 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 924 | −268 | 83.5 | 136 | |
| −39.4 | 106 | −172 | −45.6 | |
| −114 | −403 | −159 | −184 | |
| 770 | −566 | −247 | −93.7 | |
| −142 | −240 | −380 | −308 | |
| 782 | −508 | −296 | −172 | |
| −99.9 | −398 | −158 | −199 |
Shareholding pattern
- Promoters37.84%
- Public62.16%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 37.84% | 62.16% | 0.00 | |
| 30 Jun 2026 | 37.84% | 62.16% | 0.00 | |
| 31 Mar 2026 | 37.84% | 62.16% | 0.00 | |
| 31 Dec 2025 | 37.84% | 62.16% | 0.00 | |
| 30 Sep 2025 | 37.84% | 62.16% | – |
Major shareholders
Filings & events
News
No recent news coverage found.