Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Gujarat Narmada Valley Fertilizers & Chemicals Ltd

GNFC
Fertilisers

Gujarat Narmada Valley Fertilizers & Chemicals Ltd's earnings have outrun its stock. EPS grew +35.2% in a year against a −7.9% price move.

The sharpest disagreement: annual EPS moved +35.2% against a −7.9% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (5 weeks in) while the P/E sits at the 50th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +87.7% year on year, and 68% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Improving
fundamental trajectory, 12 quarters
Price
₹503
−7.9% 1Y
P/E
9.2×
50th pctile
of its own 10-year range
Revenue (Mar 26)
₹2,208 Cr
+7.4% YoY
Profit (Mar 26)
₹396 Cr
+87.7% YoY
Operating margin
22.0%
+10.0 pp YoY
ROCE
12%
FY26
ROIC
6.0%
vs WACC 12.0% → −6.0 pp
Cash conversion
68%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd trades at ₹503, in a confirmed uptrend and 5 weeks into that stage. That is +1.4% against its own 200-day average. It sits at 64% of a 52-week range of ₹386 to ₹568. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (3 weeks and counting).

Today the stock is in a confirmed uptrend — week 5 of stage 2, confirmed. At ₹503 it trades +1.4% versus its 200-day average and sits at 64% of its 52-week range (₹386–₹568).

Jul 26: ₹503 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+1.4% versus the 200-day line, week 5 of stage 2
Price50-day avg200-day avg
S2S2S4₹794₹684₹574₹465₹355₹503₹496Jul 23Apr 24Feb 25Nov 25Jul 26
S2S2S4₹794₹684₹574₹465₹355₹503₹496Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (547 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +532% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (3 weeks and counting; last ahead the week of 2026-07-01) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 50th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd trades at 9.2× P/E, mid-range by its own standards (50th percentile). Its long-run median P/E is 9.2×, measured across 9.9 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 9.2× is mid-range by its own standards (50th percentile), against a long-run median of 9.2× measured over 9.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 9.2× vs a 9.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 9.9-year window; loss-period spikes above 26× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (50th percentile)
P/EMedianEPS (TTM) (quarterly)
27.3×₹14120.9×₹10614.5×₹70.78.1×₹35.41.7×₹0.0×9.20×₹55Sep 16Mar 19Sep 21Mar 24Jul 26
27.3×₹14120.9×₹10614.5×₹70.78.1×₹35.41.7×₹0.0×9.20×₹55Sep 16Sep 21Jul 26
PEG 0.19 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Computed here as quarter-end P/E ÷ trailing-twelve-month EPS growth (only quarters with positive growth), because a reported quarterly PEG is not held for this stock. Last 5 quarters.
below 1.0, the growth looks cheap against the multiple
PEGPEG = 1.0
1.8×1.4×0.9×0.5×0.1××0.19×Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
1.8×1.4×0.9×0.5×0.1××0.19×Q4 FY25Q2 FY26Q4 FY26
P/E
9.2×
50th percentile of 10y
PEG
n/m
not derivable — 3-year earnings growth unavailable

Why the multiple sits where it does: over the past year annual EPS moved +35.2% against a −7.9% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +6.9%/yr price move, ~+4.0%/yr came from earnings growth and ~+2.9 pp from the multiple (expanding); over 10y, of the +11.6%/yr price move, ~+16.8%/yr came from earnings growth and ~−5.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Improving

Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Gujarat Narmada Valley Fertilizers & Chemicals Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 8 quarters ago at −60.5% and has held its recovery at +35.3%, ROCE holding at 10.6%. The read is built from 12 quarters across 4 curves, on full evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
1.4%50%−5.6%19%−13%−12%−20%−44%−27%−75%%%−1.5%35.3%35.3%Jun 23Sep 24Mar 26
1.4%50%−5.6%19%−13%−12%−20%−44%−27%−75%%%−1.5%35.3%35.3%Jun 23Sep 24Mar 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
14%12%9.7%7.6%5.6%%10.6%Jun 23Sep 24Mar 26
14%12%9.7%7.6%5.6%%10.6%Jun 23Sep 24Mar 26
Revenue growth
Stuck low
latest −1.5% · span −24.6% to −0.5%
Profit growth
Flat
latest +35.3% · span −66.2% to +41.3%
EPS growth
Flat
latest +35.3% · span −65.4% to +41.3%
ROCE
Stuck low
latest 10.6% · span 6.2%–13.1%

Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.

Growth, year by year: revenue −1.5% in FY26, profit +35.1% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
76%215%49%139%23%64%−3.4%−12%−30%−87%%%−1.5%35.1%FY16FY21FY26
76%215%49%139%23%64%−3.4%−12%−30%−87%%%−1.5%35.1%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (−1.5%) with the last 8 annualized (−1.0%).
revenue stabilising, profit accelerating
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
1.4%50%−5.6%19%−13%−12%−20%−44%−27%−75%%%−1.5%35.3%Jun 23Sep 24Mar 26
1.4%50%−5.6%19%−13%−12%−20%−44%−27%−75%%%−1.5%35.3%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−1.5%−8.7%+8.7%+5.5%
Profit+35.1%−18.1%+3.0%+16.2%
EPS+35.2%−16.6%+4.2%+16.9%
Share price−7.9%−5.4%+6.9%+11.6%
Revenue YoY (Mar 26)
+7.4%
latest quarter vs a year ago
Profit YoY (Mar 26)
+87.7%
latest quarter vs a year ago
Revenue 10y
5.5%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

70.8/100 — rank 2 of 15 in Fertilisers · 96% evidence confidence

Gujarat Narmada Valley Fertilizers & Chemicals Ltd scores 70.8 out of 100 against the 15 companies it is compared with in Fertilisers, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 20.8 + 16.9 + 15 + 18.1 = 70.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd reported ₹2,208 Cr of revenue in the Mar 26 quarter, +7.4% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 5.5% a year. The last full year, FY26, came in at ₹7,773 Cr. The last four reported quarters add to ₹7,773 Cr.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd reported ₹2,208 Cr of revenue in the Mar 26 quarter, +7.4% year on year. That is the 3rd straight quarter of year-on-year growth. Over 10 years it has compounded at 5.5% a year. The last full year, FY26, came in at ₹7,773 Cr. The last four reported quarters add to ₹7,773 Cr.

FY26 revenue came in at ₹7,773 Cr (−1.5% on the year), capping 10 years at 5.5% compound. The latest quarter (Mar 26) printed ₹2,208 Cr, +7.4% year on year — the 3rd consecutive quarter of year-over-year growth.

FY26 revenue ₹7,773 Cr (−1.5% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
5.5% a year over 10 years
RevenueYoY growth
11.0k76%8.3k49%5.5k23%2.8k−3.4%0−30%₹ Cr%₹7,773−1.5%FY16FY21FY26
11.0k76%8.3k49%5.5k23%2.8k−3.4%0−30%₹ Cr%₹7,773−1.5%FY16FY21FY26
Mar 26: ₹2,208 Cr (+7.4% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
3rd straight quarter of growth
Revenue (quarterly)YoY growth
2.4k27%1.8k9.5%1.2k−8.2%596−26%0−44%₹ Cr%₹2,2087.4%Jun 23Sep 24Mar 26
2.4k27%1.8k9.5%1.2k−8.2%596−26%0−44%₹ Cr%₹2,2087.4%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged −1.4% growth against the decade's 5.5% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −1.5% over the last 4 quarters against −1.0%/yr over the last 8 — stabilising; TTM profit +35.3% vs +27.5%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 22.0% this quarter (+10.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd's operating margin is 22.0% in the Mar 26 quarter, +10.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0% to 28.0%. The current quarter sits inside that band.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd's operating margin is 22.0% in the Mar 26 quarter, +10.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0% to 28.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 22.0%, +10.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0%–28.0%.

Why the margin moved: operating margin went +10.1 pp year on year while gross margin went +8.4 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 0.0–28.0% band over 13 years
operating marginYoY change (pp)
30%19%22%7.8%14%−3.5%5.9%−15%−2.2%−26%%%11%3%FY06FY20FY26
30%19%22%7.8%14%−3.5%5.9%−15%−2.2%−26%%%11%3%FY06FY20FY26
Mar 26: 22.0% operating margin (+10.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
24%12%18%5.4%12%−1.0%6.2%−7.4%0.4%−14%%%22%10%Jun 23Sep 24Mar 26
24%12%18%5.4%12%−1.0%6.2%−7.4%0.4%−14%%%22%10%Jun 23Sep 24Mar 26

→ Margins held — did that reach the bottom line? Next: profit +87.7% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd earned ₹396 Cr of net profit in the Mar 26 quarter, +87.7% year on year. Full-year FY26 profit was ₹808 Cr. The 10-year compound rate is 16.2%. That is 17.9% of the quarter's revenue. The same quarter a year earlier earned ₹211 Cr.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd earned ₹396 Cr of net profit in the Mar 26 quarter, +87.7% year on year. Full-year FY26 profit was ₹808 Cr. The 10-year compound rate is 16.2%. That is 17.9% of the quarter's revenue. The same quarter a year earlier earned ₹211 Cr.

Mar 26 profit was ₹396 Cr, +87.7% year on year. On the full year, FY26 printed ₹808 Cr (+35.1%), and the 10-year compound rate is 16.2%.

FY26 profit ₹808 Cr (+35.1% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
16.2% a year over 10 years
Net profitYoY growth
1.8k215%1.4k139%92364%462−12%0−87%₹ Cr%₹80835.1%FY16FY21FY26
1.8k215%1.4k139%92364%462−12%0−87%₹ Cr%₹80835.1%FY16FY21FY26
Mar 26: ₹396 Cr (+87.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
428101%32152%2140.0%107−48%0−98%₹ Cr%₹39687.7%Jun 23Sep 24Mar 26
428101%32152%2140.0%107−48%0−98%₹ Cr%₹39687.7%Jun 23Sep 24Mar 26

Why profit moved: revenue contributed +7.4% and the margin +10.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +30.1% vs revenue −1.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 68% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 68% of Gujarat Narmada Valley Fertilizers & Chemicals Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹654 Cr of operating cash against ₹808 Cr of profit. After ₹612 Cr of capital spending, ₹42.0 Cr was left as free cash.

FY26: operating cash of ₹654 Cr against reported profit of ₹808 Cr, leaving free cash of ₹42.0 Cr after ₹612 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 68% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹654 Cr vs profit ₹808 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
68% of 3-year profit arrived as cash
Operating cashNet profitFree cash
2.1k1.5k866227−412₹ Cr₹654₹808₹42FY16FY21FY26
2.1k1.5k866227−412₹ Cr₹654₹808₹42FY16FY21FY26
FY26: CFO = 81% of profit (three-year rate 68%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
324%238%153%68%−18%%81%FY16FY21FY26
324%238%153%68%−18%%81%FY16FY21FY26

🚨 Why conversion sits at 68%: the cash cycle tightened 22 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 81-day cycle and ₹1,131 Cr of building.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Gujarat Narmada Valley Fertilizers & Chemicals Ltd's cash conversion cycle runs 81 days in FY26, down from 103 days in FY21. Capital spending ran ₹1,131 Cr over the last 3 years. At FY26 sales of ₹7,773 Cr each day of that cycle holds about ₹21.3 Cr, so roughly ₹1,725 Cr sits inside the business at any moment.

FY26: debtors at 30 days, inventory at 92 days — roughly 3.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 81 days, tighter than FY21's 103.

The full loop: cash goes out to suppliers and production on day 0; stock waits 92 days to sell; customers pay about 30 days after that; and suppliers themselves are paid at 41 days — netting out to the 81-day cycle.

In money terms: at FY26 sales of ₹7,773 Cr, each day of the cycle holds about ₹21.3 Cr — so the 81-day loop keeps roughly ₹1,725 Cr sitting inside the business at any moment.

FY26: a 81-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−22 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
200150100490days81d92d30d41dFY06FY17FY20FY23FY26
200150100490days81d92d30d41dFY06FY20FY26

On the investment side: capital spending of ₹1,131 Cr over the last 3 fiscal years against ₹918 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹900 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹612 Cr, work-in-progress ₹900 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
973709445180−84₹ Cr₹612₹900FY16FY18FY21FY23FY26
973709445180−84₹ Cr₹612₹900FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 12% and the ROIC − WACC spread is −6.0 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd earns a ROCE of 12% in FY26. That is up from a trough of 8% in FY20. Return on invested capital clears the cost of that capital by −6.0 percentage points, so growth here is not yet paying for the capital it uses.

FY26 ROCE is 12%, recovered from a FY20 trough of 8% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 10.4% net margin × 0.68× asset turns × 1.25× balance-sheet leverage ≈ 8.8% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 6.0% − 12.0% = a −6.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 12% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 11-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY20's 8%
ROCEROIC (annual)WACC
35%27%18%9.8%1.2%%12%6.2%FY16FY21FY26
35%27%18%9.8%1.2%%12%6.2%FY16FY21FY26
Q4 FY26: ROCE 5.5% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%10%7.5%4.9%2.3%%5.5%5.4%Q1 FY24Q2 FY25Q4 FY26
13%10%7.5%4.9%2.3%%5.5%5.4%Q1 FY24Q2 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd carries total debt of ₹6.0 Cr against shareholder equity of ₹9,115 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.00 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹6.0 Cr against shareholder equity of ₹9,115 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.00 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹6.0 Cr at 0.00× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1140.011×860.008×570.005×290.002×0−0.001×₹ Cr×₹60.00×FY22FY24FY26
1140.011×860.008×570.005×290.002×0−0.001×₹ Cr×₹60.00×FY22FY24FY26
Mar 26: debt ₹6.0 Cr, debt-to-equity 0.00 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1870.022×1400.016×930.010×470.004×0−0.002×₹ Cr×₹60.00×Jun 23Sep 24Mar 26
1870.022×1400.016×930.010×470.004×0−0.002×₹ Cr×₹60.00×Jun 23Sep 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 6.1 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions cut 6.1 points of Gujarat Narmada Valley Fertilizers & Chemicals Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 13.1% of the company. Domestic institutions moved +4.4 points over the same window, to 11.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −6.1 points over 8 quarters to 13.1%; Domestic institutions: +4.4 points over 8 quarters to 11.0%; Promoters: +0.0 points over 8 quarters to 41.3%.

Why the register moved: rotation — foreign institutions −6.1 points against domestic institutions +4.4 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
44%35%25%16%6.7%%41.3%12.1%11.1%35.6%Mar 24Mar 25Mar 26
44%35%25%16%6.7%%41.3%12.1%11.1%35.6%Mar 24Mar 25Mar 26
Foreign institutions cut 6.1 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
44%33%23%12%1.1%%41.3%13.1%11.0%34.6%Jun 23Dec 24Jun 26
44%33%23%12%1.1%%41.3%13.1%11.0%34.6%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Fertilisers Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Gujarat Narmada Valley Fertilizers & Chemicals Ltd this page9.2×₹7,392 CrMixed
Coromandel International Ltd31.3×₹58,437 CrDeteriorating
Fertilizers & Chemicals Travancore Ltd3,536.0×₹52,368 CrNo read
Deepak Fertilisers & Petrochemicals Corp Ltd26.9×₹19,860 CrMixed
Chambal Fertilisers & Chemicals Ltd8.8×₹17,268 CrMixed
Paradeep Phosphates Ltd13.8×₹14,126 CrMixed
Rashtriya Chemicals & Fertilizers Ltd17.3×₹6,853 CrImproving
Madhya Bharat Agro Products Ltd41.9×₹6,495 CrMixed
Gujarat State Fertilizers & Chemicals Ltd9.2×₹6,159 CrMixed
Krishana Phoschem Ltd25.5×₹5,010 CrMixed
National Fertilizer Ltd16.3×₹3,449 CrNo read
Southern Petrochemicals Industries Corporation Ltd6.3×₹1,322 CrImproving
Madras Fertilizers Ltd12.3×₹1,069 CrNo read
Zuari Agro Chemicals Ltd3.1×₹925 CrMixed
Khaitan Chemicals & Fertilizers Ltd8.2×₹475 CrNo read
12 · Frequently asked questions

Frequently asked questions

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's share price today?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd trades at ₹503, −7.9% over the past year. The company is valued at ₹7,392 Cr. The stock sits at 64% of its 52-week range of ₹386–₹568, +1.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 5 weeks in. — as of 24 July 2026.

What were Gujarat Narmada Valley Fertilizers & Chemicals Ltd's latest quarterly results?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd reported revenue of ₹2,208 Cr and net profit of ₹396 Cr for the Mar 26 quarter. Revenue rose 7.4% and profit rose 87.7% year on year. Earnings per share were ₹26.95. The operating margin was 22.0%, 10.0 pp higher than a year earlier. — as of 24 July 2026.

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's revenue?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd reported revenue of ₹2,208 Cr in the Mar 26 quarter, +7.4% year on year. For the full FY26 fiscal year, revenue was ₹7,773 Cr (−1.5%). Over the last 10 years revenue compounded at 5.5% a year. — as of 24 July 2026.

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's profit?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd earned ₹396 Cr of net profit in the Mar 26 quarter, +87.7% year on year. Full-year FY26 profit was ₹808 Cr. The operating margin ran 22.0% in the latest quarter. — as of 24 July 2026.

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's market cap?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd's market capitalisation is ₹7,392 Cr at a share price of ₹503. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's P/E ratio?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd trades at a P/E of 9.2×, at the 50th percentile of its own 10-year range, against a long-run median of 9.2×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Gujarat Narmada Valley Fertilizers & Chemicals Ltd pay a dividend?

Yes — Gujarat Narmada Valley Fertilizers & Chemicals Ltd's dividend payout was 38% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.

Is Gujarat Narmada Valley Fertilizers & Chemicals Ltd overvalued?

On its own history, Gujarat Narmada Valley Fertilizers & Chemicals Ltd looks mid-range against its own history: its P/E of 9.2× sits at the 50th percentile of its 10-year range (long-run median 9.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Gujarat Narmada Valley Fertilizers & Chemicals Ltd growing?

Yes — Gujarat Narmada Valley Fertilizers & Chemicals Ltd is growing: latest-quarter revenue +7.4% year on year, profit +87.7%, and the margin +10.0 pp at 22.0%. The 10-year compound rates are 5.5% (revenue) and 16.2% (profit). The earnings engine currently reads: improving — as of 24 July 2026.

How is Gujarat Narmada Valley Fertilizers & Chemicals Ltd performing?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd is in a confirmed uptrend, 5 weeks in. Its latest quarter's revenue rose 7.4% and profit rose 87.7% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 3 weeks. — as of 24 July 2026.

What stage is Gujarat Narmada Valley Fertilizers & Chemicals Ltd in?

Improving — profit growth bottomed 8 quarters ago at −60.5% and has held its recovery at +35.3%, ROCE holding at 10.6%. The read comes from the last 12 quarters of growth (revenue growth −1.5% latest, profit growth +35.3% latest, eps growth +35.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Gujarat Narmada Valley Fertilizers & Chemicals Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 5 of stage 2), trading +1.4% versus its 200-day average and at 64% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Gujarat Narmada Valley Fertilizers & Chemicals Ltd beating the market?

Not lately — on a trailing-13-week view Gujarat Narmada Valley Fertilizers & Chemicals Ltd is currently behind the NIFTY 500 (3 weeks and counting; last ahead the week of 2026-07-01), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +532% against the NIFTY 500's +274% — ahead of the index over the full window. — as of 24 July 2026.

Will Gujarat Narmada Valley Fertilizers & Chemicals Ltd's share price go up?

This page publishes no price forecast for Gujarat Narmada Valley Fertilizers & Chemicals Ltd. What it measures instead: the share price is ₹503, the price is in a confirmed uptrend 5 weeks in. Its P/E of 9.2× sits at the 50th percentile of its own 10-year range. — as of 24 July 2026.

Who owns Gujarat Narmada Valley Fertilizers & Chemicals Ltd?

Promoters hold 41.3% of Gujarat Narmada Valley Fertilizers & Chemicals Ltd, foreign institutions 13.1%, domestic institutions 11.0% and the public 34.6% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 6.1 points over 8 quarters. — as of 24 July 2026.

Does Gujarat Narmada Valley Fertilizers & Chemicals Ltd have too much debt?

No — Gujarat Narmada Valley Fertilizers & Chemicals Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill north of 100×. FY26 borrowings were ₹6.0 Cr against equity of ₹9,115 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's capex?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd spent ₹1,131 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. Depreciation over the same years was ₹918 Cr. — as of 24 July 2026.

What is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's cash flow?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd generated ₹654 Cr of operating cash flow in FY26 and ₹42.0 Cr of free cash flow after ₹612 Cr of capital spending. Reported profit that year was ₹808 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Gujarat Narmada Valley Fertilizers & Chemicals Ltd's profit real cash?

Mostly — over the last 3 fiscal years, 68% of Gujarat Narmada Valley Fertilizers & Chemicals Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹654 Cr against reported profit of ₹808 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Gujarat Narmada Valley Fertilizers & Chemicals Ltd in its business cycle?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd's FY26 operating margin was 11.0%, against a 13-year band of 0.0%–28.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 22.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Gujarat Narmada Valley Fertilizers & Chemicals Ltd story?

The sharpest disagreement: annual EPS moved +35.2% against a −7.9% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Gujarat Narmada Valley Fertilizers & Chemicals Ltd a stock worth studying right now?

This is not investment advice. The machine read: Gujarat Narmada Valley Fertilizers & Chemicals Ltd's earnings have outrun its stock. EPS grew +35.2% in a year against a −7.9% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI