Gujarat Narmada Valley Fertilizers & Chemicals Ltd

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Gujarat Narmada Valley Fertilizers & Chemicals Ltd

₹ 577 0.19%
07 Feb - close price
gnfc.in BSE: 500670 NSE: GNFC
About

Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), is a joint sector enterprise promoted by the Gujarat State Investments Limited (GSIL), a Government of Gujarat undertaking, and the Gujarat State Fertilizers & Chemicals Ltd.(GSFC). The company was set up in Bharuch in 1976 while its manufacturing and marketing operations were started in 1982. The company operates businesses mainly in the Industrial Chemicals, Fertilizers apart from the small presence of IT services. In the chemical segment, it has a product portfolio of various bulk chemicals that are used in industries for manufacturing various specialty chemicals as well as end products.

Key Points

Business Segments
1) Chemicals (60% in H1 FY25 vs 70% in FY22): [1] [2] The company produces Methanol, Formic Acid, Acetic Acid, Toluene Di- Isocyanate (TDI), Technical Grade Urea (TGU), Weak Nitric Acid, Concentrated Nitric Acid, Ethyl Acetate, and Ammonium Nitrate. The segment revenue declined 29% between FY22 and FY24, driven by lower realizations across all the products. [3] [4]

Website BSE NSE
  • Market Cap ₹ 8,480 Cr.
  • Current Price ₹ 577
  • High / Low ₹ 777 / 516
  • Stock P/E 18.8
  • Book Value ₹ 570
  • Dividend Yield 2.86 %
  • ROCE 7.61 %
  • ROE 5.70 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 1.01 times its book value
  • Company has been maintaining a healthy dividend payout of 29.8%

Cons

  • Earnings include an other income of Rs.451 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

Part of BSE 250 SmallCap Index Nifty MidSmallcap 400 BSE 400 MidSmallCap Index BSE Commodities BSE Allcap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,096 2,380 2,772 2,696 2,587 2,673 2,271 1,652 2,080 2,088 2,110 2,021 1,917
1,665 1,706 1,888 1,933 2,278 2,235 1,902 1,547 1,911 2,004 1,965 1,868 1,827
Operating Profit 431 674 884 763 309 438 369 105 169 84 145 153 90
OPM % 21% 28% 32% 28% 12% 16% 16% 6% 8% 4% 7% 8% 5%
58 48 61 76 85 77 123 88 152 121 108 99 123
Interest 1 1 0 2 1 1 1 1 1 7 4 17 2
Depreciation 71 76 74 76 77 76 74 76 78 76 78 78 76
Profit before tax 417 645 871 761 316 438 417 116 242 122 171 157 135
Tax % 32% 16% 26% 25% 25% 26% 20% 27% 26% 22% 26% 27% 24%
285 541 643 572 238 326 336 88 182 97 130 118 105
EPS in Rs 18.32 34.81 41.37 36.80 15.31 20.98 21.62 5.66 11.71 6.60 8.85 8.03 7.15
Raw PDF
Upcoming result date: 14 February 2025

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,449 4,642 4,552 4,589 5,837 5,896 5,162 5,129 8,642 10,227 7,930 8,136
1,873 4,662 3,989 4,228 4,445 5,022 4,621 4,125 6,259 8,348 7,428 7,664
Operating Profit 575 -21 563 361 1,392 874 542 1,003 2,384 1,879 502 472
OPM % 23% -0% 12% 8% 24% 15% 10% 20% 28% 18% 6% 6%
75 52 252 809 140 215 153 237 209 361 469 451
Interest 43 274 297 203 100 6 5 20 3 5 13 30
Depreciation 111 209 251 251 270 263 264 272 292 303 308 308
Profit before tax 496 -452 268 715 1,162 819 425 948 2,298 1,932 651 585
Tax % 34% 0% 35% 27% 32% 10% -17% 27% 26% 24% 26%
326 -443 180 529 795 750 508 697 1,710 1,472 497 450
EPS in Rs 21.23 -28.50 11.57 34.02 51.15 48.24 32.69 44.84 110.05 94.68 33.83 30.63
Dividend Payout % 20% 0% 17% 15% 15% 15% 15% 18% 9% 32% 49%
Compounded Sales Growth
10 Years: %
5 Years: 6%
3 Years: 16%
TTM: -6%
Compounded Profit Growth
10 Years: %
5 Years: -8%
3 Years: -11%
TTM: -52%
Stock Price CAGR
10 Years: 22%
5 Years: 26%
3 Years: 2%
1 Year: -16%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 15%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 146 155 155 155 155 155 155 155 155 155 147 147
Reserves 1,073 2,364 3,168 3,700 4,362 4,909 5,144 5,913 7,835 8,950 8,162 8,224
334 3,844 3,101 1,959 303 208 860 4 2 2 3 79
1,225 2,164 2,130 2,142 2,411 2,337 2,261 2,321 2,764 2,613 2,405 2,396
Total Liabilities 2,778 8,527 8,555 7,956 7,231 7,609 8,421 8,394 10,755 11,720 10,717 10,846
1,116 4,468 4,367 4,442 4,161 3,959 3,810 3,720 3,578 3,381 3,238 3,215
CWIP 49 13 9 14 14 25 82 161 138 187 289 266
Investments 149 184 775 816 785 799 673 938 1,313 3,205 3,030 2,791
1,464 3,861 3,404 2,683 2,271 2,826 3,856 3,575 5,727 4,946 4,160 4,574
Total Assets 2,778 8,527 8,555 7,956 7,231 7,609 8,421 8,394 10,755 11,720 10,717 10,846

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
358 490 996 1,445 1,819 701 286 1,884 1,967 1,373 31
-82 -284 36 -53 49 -310 -901 -856 -1,899 -1,229 1,235
-295 -363 -1,037 -1,073 -1,400 -185 546 -934 -130 -160 -1,281
Net Cash Flow -19 -156 -5 320 468 206 -69 95 -62 -16 -14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 69 107 119 88 70 77 100 36 26 13 29
Inventory Days 96 98 107 110 98 106 125 129 91 84 94
Days Payable 75 39 40 57 61 50 68 63 59 42 42
Cash Conversion Cycle 89 166 186 142 107 132 156 103 58 55 81
Working Capital Days 75 139 122 112 71 89 178 68 97 46 58
ROCE % 9% 10% 24% 16% 8% 16% 33% 23% 8%

Shareholding Pattern

Numbers in percentages

Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
41.18% 41.18% 41.18% 41.18% 41.18% 41.18% 41.18% 41.30% 41.30% 41.30% 41.30% 41.30%
22.39% 22.64% 22.39% 20.47% 20.01% 19.67% 18.63% 20.11% 19.40% 19.18% 16.15% 15.41%
5.24% 5.34% 4.97% 4.77% 4.97% 4.11% 6.24% 7.58% 9.30% 6.58% 11.16% 11.10%
31.19% 30.83% 31.45% 33.58% 33.83% 35.03% 33.93% 31.00% 29.99% 32.93% 31.38% 32.18%
No. of Shareholders 2,31,5932,44,7942,56,8192,75,2122,79,9092,76,0302,76,1282,57,3622,53,0032,63,1602,67,0792,73,572

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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