National Fertilizers (NFL) had a P/E of 8.3× on 6 Nov 2026, below the industry P/E of 14.4×, and the shares are 34% below their 52-week high. Its ROCE of 12% is the second-lowest among the 7 largest Agricultural Inputs peers, and sales and net profit fell 4.3% and 23% a year over 3 years. Its dividend yield is 1.7%, and debt is 1.40× equity. It is a small-cap company with a market cap of ₹3,042 Cr, ranked 18th of 72 Agricultural Inputs companies by market cap; the shares fell 35% over the past year.
- ₹60.82
- ₹62.29
- ₹60.79
- ₹62.06
- 4.5 L
Health check
- ReturnsBehind
−35.0% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 8.3 vs industry 14.4.
- GrowthShrinking
Sales −4.3%, profit −22.7% a year over 3 years.
- ProfitabilityWeak
ROCE 12.0% vs peer median 20.9%.
- Balance sheetStretched
Debt 1.40× equity, interest covered 2.1×, Piotroski 3 of 9.
- Red flags2 to check
Return on equity is low at 7.6%.
Small cap
Defensive
Key metrics
- Market cap
- ₹3,042 Cr
- Small cap
- P/E
- 8.3
- Industry 14.4
- Price to book
- 1.07
- Peers 4.28
- Dividend yield
- 1.68%
- ROE
- 7.6%
- Peers 16.2%
- ROCE
- 12.0%
- Peers 20.9%
- Debt to equity
- 1.40
- Debt ₹3,964 Cr
- EPS (TTM)
- ₹7.43
- Face value ₹10
- OPM (TTM)
- 4.5%
- Net margin 1.6%
- Sales growth
- +27.3%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.14
- EV/EBITDA 6.9
Strengths and risks
Strengths
- Quarterly sales up 27.3% on a year ago.
- P/E of 8.3 against an industry P/E of 14.4.
Risks to check
- Return on equity is low at 7.6%.
- 34% below its 52-week high.
About National Fertilizers
National Fertilizers Limited engages in the production and marketing of neem coated urea, bio-fertilizers, and other allied Industrial products in India. It operates through Manufactured Fertilizers, Manufactured Chemicals, Traded Imported Fertilizers, and Others segments. The company offers urea; bentonite sulphur; and bio fertilizers, including rhizobium, azectobactor and PSB, and zinc solubilizing bacteria. It also provides industrial products…
- Headquarters
- Noida
- Employees
- 2,612
- Sector
- Basic Materials
- ISIN
- INE870D01012
- Website
- nationalfertilizers.com
Price range
- Avg volume (3M)
- 6.8 L
- 1-year return
- minus 35.0%
- From 52-week high
- minus 34.2%
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% |
| NFLNational Fertilizers | 62.01 | minus 0.08% | 3,042 | 8.3 | 8.2 | 12.0% | 4.5% | 1.40 | −4.3% | minus 35.0% |
| 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 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 3,534 | 6,763 | 6,870 | 4,347 | 4,500 | |
| 3,446 | 6,635 | 6,574 | 4,026 | 4,234 | |
| 88.6 | 128 | 296 | 321 | 267 | |
| 2.5% | 1.9% | 4.3% | 7.4% | 5.9% | |
| 1.6 | −10.3 | 58.8 | 45.6 | 53.9 | |
| 46.2 | 54.8 | 71.7 | 76.7 | 79.3 | |
| 96.1 | 99 | 110 | 99.8 | 104 | |
| −52.1 | −35.9 | 173 | 190 | 138 | |
| 24.3% | 0.3% | 21.6% | 20.2% | 17.7% | |
| −39.4 | −35.8 | 135 | 152 | 113 | |
| -0.80 | -0.73 | 2.76 | 3.09 | 2.31 |
Profit & loss
- Sales CAGR 3Y
- −4.3%
- Profit CAGR 3Y
- −22.7%
- EPS CAGR 3Y
- −22.7%
- ROE
- 7.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 7,117 | 7,548 | 5,896 | 6,233 | |
| – | +6.1% | minus 21.9% | +5.7% | |
| 5,733 | 6,982 | 5,266 | 5,387 | |
| 1,383 | 566 | 631 | 846 | |
| 19.4% | 7.5% | 10.7% | 13.6% | |
| 73.7 | 140 | 148 | 60.8 | |
| 301 | 266 | 225 | 249 | |
| 353 | 362 | 373 | 405 | |
| −191 | 95.6 | 31.5 | 22.2 | |
| 612 | 174 | 212 | 275 | |
| 25.1% | 13.7% | 13.1% | 23.0% | |
| 458 | 150 | 184 | 211 | |
| – | minus 67.3% | +22.6% | +15.0% | |
| 9.34 | 3.06 | 3.75 | 4.31 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 491 | 491 | 491 | 491 | |
| 2,042 | 2,055 | 2,225 | 2,350 | |
| 3,993 | 4,091 | 2,001 | 3,964 | |
| 5,999 | 4,561 | 4,594 | 4,920 | |
| 12,525 | 11,197 | 9,311 | 11,724 | |
| 4,114 | 4,053 | 3,817 | 3,668 | |
| 147 | 224 | 172 | 175 | |
| 42.1 | 34.2 | 30.9 | 42.5 | |
| 60 | 29.9 | 15.6 | 54 | |
| 8,162 | 6,856 | 5,275 | 7,785 | |
| 12,525 | 11,197 | 9,311 | 11,724 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −333 | 668 | 2,593 | −1,342 | |
| −206 | −334 | −270 | −263 | |
| 526 | −318 | −2,334 | 1,643 | |
| −13 | 16.2 | −11.6 | 37.4 | |
| −208 | −292 | −204 | −228 | |
| −541 | 376 | 2,389 | −1,570 | |
| – | −137 | −13.3 | −76.5 |
Shareholding pattern
- Promoters74.71%
- Public25.29%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.71% | 25.29% | 0.00 | |
| 30 Jun 2026 | 74.71% | 25.29% | 0.00 | |
| 31 Mar 2026 | 74.71% | 25.29% | 0.00 | |
| 31 Dec 2025 | 74.71% | 25.29% | 0.00 | |
| 30 Sep 2025 | 74.71% | 25.29% | – |
Major shareholders
Filings & events
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