Gujarat State Fertilizers & Chemicals Ltd

Gujarat State Fertilizers & Chemicals Ltd

₹ 163 1.04%
05 Jun - close price
About

Incorporated in 1962, Gujarat State Fertilizers & Chemicals Ltd is a public sector company promoted by the Government of Gujarat. It is engaged in manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres [1]

Key Points

Market Leader in Carpolactam
GSFC is a market leader in the value chain of Carpolactam, Nylon 6 virgin polymer and its compounds. The compounds of Nylon 6 are used in diverse performance applications ranging from consumer durables and automotives.[1]

  • Market Cap 6,477 Cr.
  • Current Price 163
  • High / Low 221 / 139
  • Stock P/E 9.63
  • Book Value 308
  • Dividend Yield 3.08 %
  • ROCE 7.16 %
  • ROE 5.51 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Stock is trading at 0.53 times its book value
  • Company has been maintaining a healthy dividend payout of 30.5%

Cons

  • The company has delivered a poor sales growth of 7.47% over past five years.
  • Company has a low return on equity of 4.94% over last 3 years.
  • Earnings include an other income of Rs.287 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
2,384 2,063 3,119 2,008 1,965 2,163 2,635 2,814 1,922 2,184 3,187 2,941 2,633
2,058 1,921 2,881 1,900 1,939 2,053 2,352 2,656 1,842 1,992 2,851 2,763 2,550
Operating Profit 326 142 237 108 26 110 284 158 80 193 337 178 83
OPM % 14% 7% 8% 5% 1% 5% 11% 6% 4% 9% 11% 6% 3%
28 51 197 83 54 52 154 60 61 47 144 57 39
Interest 3 2 2 1 7 2 2 2 4 8 2 1 4
Depreciation 45 45 46 46 47 47 48 49 48 48 51 50 53
Profit before tax 305 146 387 144 26 113 387 168 89 184 428 183 65
Tax % 26% 23% 20% 18% 7% 22% 23% 20% 19% 25% 24% 14% 20%
225 112 309 118 24 87 298 134 72 139 324 158 52
EPS in Rs 5.64 2.82 7.75 2.96 0.62 2.19 7.48 3.36 1.80 3.48 8.13 3.97 1.31
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5,311 6,108 5,265 6,266 8,491 7,798 7,634 9,085 11,369 9,155 9,534 10,946
4,719 5,451 4,775 5,701 7,742 7,477 7,063 7,764 9,781 8,641 8,898 10,155
Operating Profit 592 657 489 565 749 321 571 1,321 1,588 514 636 790
OPM % 11% 11% 9% 9% 9% 4% 7% 15% 14% 6% 7% 7%
101 65 61 99 107 105 184 183 152 385 323 287
Interest 18 31 65 51 61 115 43 10 15 11 10 14
Depreciation 101 97 104 119 126 171 177 179 182 183 192 202
Profit before tax 575 594 382 493 669 141 535 1,315 1,543 704 756 861
Tax % 30% 31% -11% 4% 26% 22% 16% 32% 18% 20% 22% 22%
409 416 424 474 493 110 450 899 1,266 564 591 673
EPS in Rs 10.28 10.44 10.65 11.89 12.38 2.75 11.30 22.55 31.77 14.16 14.83 16.88
Dividend Payout % 21% 21% 21% 18% 18% 44% 19% 11% 31% 28% 34% 30%
Compounded Sales Growth
10 Years: 6%
5 Years: 7%
3 Years: -1%
TTM: 15%
Compounded Profit Growth
10 Years: 5%
5 Years: 10%
3 Years: -19%
TTM: 13%
Stock Price CAGR
10 Years: 8%
5 Years: 7%
3 Years: 1%
1 Year: -22%
Return on Equity
10 Years: 6%
5 Years: 7%
3 Years: 5%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 80 80 80 80 80 80 80 80 80 80 80 80
Reserves 4,426 5,465 6,539 7,224 7,241 6,782 9,160 11,693 11,960 12,647 12,059 12,187
744 1,288 805 1,093 1,069 1,559 37 6 2 5 2 27
1,250 1,558 1,666 1,918 2,074 1,702 1,887 2,347 1,867 2,319 2,229 2,096
Total Liabilities 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125 13,909 15,051 14,369 14,390
1,958 1,656 2,022 2,108 2,821 2,902 2,804 2,680 2,580 2,549 2,504 3,331
CWIP 261 405 273 763 187 107 117 158 200 236 690 192
Investments 898 1,740 2,530 2,790 2,376 2,087 4,331 6,314 5,329 6,015 5,055 4,610
3,383 4,590 4,266 4,654 5,079 5,026 3,912 4,973 5,801 6,251 6,119 6,257
Total Assets 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125 13,909 15,051 14,369 14,390

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
260 -243 911 358 508 -8 1,783 237 924 -268 83 136
-134 -173 -238 -484 -281 -266 -23 -18 -39 106 -172 -46
-155 412 -656 134 -242 267 -1,559 -126 -114 -403 -159 -184
Net Cash Flow -30 -4 17 7 -15 -7 201 92 770 -566 -247 -94
Free Cash Flow 121 -462 662 -141 209 -310 1,736 142 782 -508 -296 -172
CFO/OP 69% -11% 200% 77% 82% 16% 303% 35% 88% -22% 26% 34%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 133 197 55 54 35 40 22 15 16 20 21 23
Inventory Days 71 56 82 80 106 96 75 95 70 82 89 92
Days Payable 39 54 70 76 67 30 40 55 34 50 40 34
Cash Conversion Cycle 164 199 67 58 74 105 57 55 52 52 69 81
Working Capital Days 96 102 129 105 88 96 106 116 92 84 93 154
ROCE % 12% 10% 6% 7% 9% 3% 6% 13% 13% 6% 6% 7%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Fertilizers Production Volume
MT ・Standalone data

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Fertilizers Sales Volume
MT ・Standalone data
Industrial Products Production Volume (Caprolactam)
MT ・Standalone data
Renewable Power Capacity (Wind & Solar)
MW

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84%
20.54% 20.69% 19.82% 14.12% 13.31% 12.60% 11.81% 11.83% 11.64% 12.29% 11.90% 12.35%
2.57% 3.16% 3.65% 4.55% 4.90% 5.87% 6.06% 7.48% 7.34% 7.81% 7.28% 7.30%
5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65%
33.41% 32.65% 33.04% 37.84% 38.30% 38.05% 38.63% 37.21% 37.51% 36.40% 37.32% 36.83%
No. of Shareholders 1,80,8531,92,0961,98,3933,20,4853,38,2663,35,0883,38,4953,28,8573,24,2593,13,3293,09,6043,03,830

* 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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