GUJ State Fert & Chem Ltd
NSE: GSFC · Fertilizers · sector
₹135.35NSE close 2026-10-26
Key numbers
Market cap₹5,394 cr
Price₹135.35
52w high / low₹199 / ₹135
P/E7.8xSector median 7.9x
P/B0.4xSector median 0.9x
Book value₹307.8
Dividend yield3.69%Sector median 1.02%
ROE5.7%Sector median 11.1%
ROCE7.2%Sector median 9.9%
OPM6.7%Sector median 8.8%
Debt / equity0.00xSector median 0.32x
EV/EBITDA6.3xSector median 6.8x
Interest cover52.0x
Current ratio4.83x
Sales growth 3y-1.3%Sector median -0.8%
Profit growth 3y-19.0%Sector median +1.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 20 companies in Fertilizers (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹200 cr vs borrowings ₹25 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 52.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 39% of net profit in the last 12 months.
- Debtor days went from 20 (FY24) to 71 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹135.35 on 2026-10-26: -32.1% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹223.06 · low ₹135.35
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,635 | 2,814 | 1,922 | 2,184 | 3,187 | 2,941 | 2,633 | 3,583 |
| EBITDA | 285 | 163 | 80 | 193 | 337 | 178 | 83 | 233 |
| OPM % | 10.8% | 5.8% | 4.2% | 8.8% | 10.6% | 6.0% | 3.2% | 6.5% |
| Other income | 152 | 56 | 57 | 42 | 143 | 56 | 35 | 34 |
| Net profit | 298 | 134 | 72 | 139 | 324 | 158 | 52 | 159 |
| EPS (₹) | 7.60 | 3.36 | 1.80 | 3.48 | 8.13 | 3.97 | 1.30 | 3.98 |
| Revenue YoY | +21.0% | +4.5% | +37.0% | +64.0% | ||||
| Profit YoY | +8.7% | +18.1% | -27.3% | +14.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 9,083 | 11,369 | 9,155 | 9,534 | 10,946 | 12,344 |
| EBITDA | 1,321 | 1,591 | 513 | 632 | 790 | 830 |
| Net profit | 899 | 1,266 | 555 | 591 | 673 | 693 |
| EPS (₹) | 22.55 | 31.77 | 14.16 | 14.83 | 16.88 | 17.38 |
| Revenue growth | +25.2% | -19.5% | +4.1% | +14.8% | +29.2% | |
| Profit growth | +40.9% | -56.1% | +6.4% | +13.8% | +7.8% | |
| Dividend / share (₹) | 2.20 | 2.50 | 10.00 | 4.00 | 5.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -1.3% | +7.5% | +29.2% |
| Net profit | -19.0% | +8.4% | +7.9% |
| EPS | -19.0% | +8.4% | – |
| Share price | – | -18.2% (2y) | -26.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 12,040 | 12,727 | 12,138 | 12,266 |
| Borrowings | – | 0 | 2 | 0 | 25 |
| Cash & equivalents | – | 1,440 | 2,303 | 1,907 | 200 |
| Total assets | – | 13,909 | 15,051 | 14,369 | 14,390 |
| Fixed assets | – | 2,536 | 2,506 | 2,500 | 3,327 |
| Capital work in progress | – | 200 | 236 | 690 | 192 |
| Investments | – | 5,330 | 6,015 | 5,055 | 4,610 |
| Receivables | – | 497 | 510 | 1,624 | 2,135 |
| Inventory | – | 1,324 | 1,305 | 1,479 | 1,879 |
| Payables | – | 639 | 799 | 675 | 689 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 237 | 924 | -268 | 83 | 136 |
| Cash from investing | -18 | -39 | 106 | -172 | -46 |
| Cash from financing | -126 | -114 | -403 | -159 | -184 |
| Capex | 95 | 142 | 240 | 380 | 308 |
| Free cash flow | 142 | 782 | -509 | -296 | -172 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.5% | 4.4% | 4.9% | 5.5% |
| ROCE % | – | 12.9% | 5.6% | 6.2% | 7.0% |
| Debtor days | – | 16 | 20 | 62 | 71 |
| Inventory days | – | 70 | 82 | 89 | 92 |
| Payable days | – | 34 | 50 | 40 | 34 |
| Cash conversion cycle (days) | – | 52 | 52 | 111 | 129 |
| Working capital days | – | 138 | 175 | 166 | 161 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 37.84% |
| FIIs | 12.52% |
| DIIs | 5.83% |
| of which Mutual funds | 4.43% |
| of which Insurance | 1.23% |
| Government | 5.65% |
| Public (non-institutions) | 38.16% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 37.84% | 37.84% | 37.84% | 37.84% | 37.84% | 37.84% | 37.84% | 37.84% |
| Promoter group | % |
|---|---|
| Gujarat State Invetments Limited | 37.84% |
| Gujarat Narmada Valley Fertilizers Company Limited | 1.88% |
| Gujarat Alkalies And Chemicals Limited | 1.88% |
| Gujarat Mineral Development Corporation Ltd | 1.25% |
| Public holders above 1% | % |
|---|---|
| Quant Mutual Fund - Quant Small CAP Fund | 2.34% |
| ICICI Prudential Small CAP Fund | 1.36% |
2,94,555 shareholders. Pledged: 0.00% of promoter shares.
Peers in Fertilizers
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| COROMANDEL | ₹51,053 cr | 27.8x | 4.1x | 15.5% | 21.0% | 9.6% | +2.0% | 1.04% |
| FACT | ₹43,655 cr | – | 32.3x | -7.8% | 2.6% | 0.3% | -2.6% | 0.06% |
| CHAMBLFERT | ₹14,447 cr | 7.5x | 1.4x | 20.1% | 22.0% | 13.8% | -9.2% | 2.77% |
| PARADEEP | ₹14,315 cr | 13.3x | 2.1x | 19.8% | 14.5% | 9.7% | +17.8% | 0.69% |
| GSFC | ₹5,394 cr | 7.8x | 0.4x | 5.7% | 7.2% | 6.7% | -1.3% | 3.69% |
| RCF | ₹5,215 cr | 11.7x | 1.0x | 9.1% | 10.3% | 5.6% | -4.8% | 2.46% |
| NFL | ₹2,803 cr | 7.7x | 1.0x | 13.1% | 9.6% | 4.5% | -10.1% | 2.73% |
| SPIC | ₹1,120 cr | 5.5x | 0.8x | 16.0% | 12.8% | 8.8% | +1.5% | 3.56% |
| MADRASFERT | ₹827 cr | 11.6x | 9.0x | 237.8% | 20.4% | 3.7% | -12.6% | – |
| ZUARI | ₹802 cr | 0.8x | 0.4x | 47.6% | 37.2% | 40.5% | -11.1% | 1.02% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| FERTILIZER PRODUCTS | ₹8,541 cr | 78.0% | ₹459 cr | 5.4% |
| INDUSTRIAL PRODUCTS | ₹2,404 cr | 22.0% | ₹200 cr | 8.3% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-11 | Dividend | Dividend - Rs 5 Per Share |
| 2025-09-08 | Dividend | Dividend - Rs 5 Per Share |
| 2024-09-09 | Dividend | Annual General Meeting/Dividend - Rs 4 Per Share |
| 2023-09-07 | Dividend | Annual General Meeting/Dividend - Rs 10 Per Share |
| 2022-09-09 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2021-09-08 | Dividend | Annual General Meeting/Dividend - Rs 2.20 Per Share |
| 2020-09-14 | Dividend | Dividend - Rs 1.20 Per Share |
| 2019-09-09 | Dividend | Annual General Meeting/Dividend - Rs 2.20 Per Share |
| 2018-09-11 | Dividend | Dividend Rs 2.2 Per Share |
| 2017-08-31 | Dividend | Annual General Meeting/Dividend - Rs 2.20 Per Share |
| 2016-09-01 | Dividend | Dividend - Rs 2.20/- Per Share |
| 2015-08-31 | Dividend | Annual General Meeting/ Dividend - Rs 2.20/- Per Share |
| 2014-07-24 | Dividend | Annual General Meeting/Dividend - Rs.2/- Per Share |
| 2013-07-18 | Dividend | Annual General Meeting And Dividend Rs.2/- Per Share |
| 2012-09-20 | Split | Face Value Split From Rs 10 To Rs 2 |
| 2012-07-19 | Dividend | Annual General Meeting And Dividend Rs.7.50 Per Share |
| 2011-08-30 | Dividend | Dividend-Rs.7/- Per Share |
| 2010-09-08 | Dividend | Annual General Meeting And Dividend Rs.4.50 Per Share |
| 2009-09-10 | Dividend | Dividend-Rs.4.50 Pr Share |
| 2008-09-04 | Dividend | Agm/Dividend - 45% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Fertilizers and Agro-products, Chemicals and chemical products
- Trading: Fertilizers and Agro-products, Chemicals and chemical products
| Sector | Commodities |
| Industry | Fertilizers |
| Sub-industry | Fertilizers |
| Symbol | GSFC |
| BSE code | 500690 |
| ISIN | INE026A01025 |
| Face value | ₹2.0 |
| Incorporated | 1962-02-15 |
| Website | www.gsfclimited.com |
| Plants (India / abroad) | 4 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.