Gujarat State Fertilizers & Chemicals Ltd

Gujarat State Fertilizers & Chemicals Ltd

₹ 200 -2.57%
21 May - 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 7,978 Cr.
  • Current Price 200
  • High / Low 275 / 156
  • Stock P/E 13.5
  • Book Value 305
  • Dividend Yield 2.00 %
  • ROCE 6.16 %
  • ROE 4.75 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.66 times its book value
  • Company has been maintaining a healthy dividend payout of 31.2%

Cons

  • The company has delivered a poor sales growth of 4.10% over past five years.
  • Company has a low return on equity of 6.59% over last 3 years.
  • Earnings include an other income of Rs.326 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 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
2,035 3,018 2,488 3,479 2,384 2,063 3,119 2,008 1,965 2,163 2,635 2,814 1,922
1,616 2,493 2,097 3,133 2,058 1,921 2,881 1,900 1,939 2,053 2,352 2,656 1,842
Operating Profit 418 525 391 346 326 142 237 108 26 110 284 158 80
OPM % 21% 17% 16% 10% 14% 7% 8% 5% 1% 5% 11% 6% 4%
65 32 73 20 28 51 197 83 54 52 154 60 61
Interest 3 3 3 6 3 2 2 1 7 2 2 2 4
Depreciation 44 45 46 46 45 45 46 46 47 47 48 49 48
Profit before tax 435 509 415 313 305 146 387 144 26 113 387 168 89
Tax % 34% 32% 31% -31% 26% 23% 20% 18% 7% 22% 23% 20% 19%
286 346 285 410 225 112 309 118 24 87 298 134 72
EPS in Rs 7.17 8.68 7.16 10.29 5.64 2.82 7.75 2.96 0.62 2.19 7.48 3.36 1.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
5,386 5,311 6,108 5,265 6,266 8,491 7,798 7,634 9,085 11,369 9,155 9,534
4,819 4,719 5,451 4,775 5,701 7,742 7,477 7,063 7,764 9,781 8,641 8,902
Operating Profit 567 592 657 489 565 749 321 571 1,321 1,588 514 632
OPM % 11% 11% 11% 9% 9% 9% 4% 7% 15% 14% 6% 7%
120 101 65 61 99 107 105 184 183 152 385 326
Interest 45 18 31 65 51 61 115 43 10 15 11 10
Depreciation 145 101 97 104 119 126 171 177 179 182 183 192
Profit before tax 496 575 594 382 493 669 141 535 1,315 1,543 704 756
Tax % 31% 30% 31% -11% 4% 26% 22% 16% 32% 18% 20% 22%
349 409 416 424 474 493 110 450 899 1,266 564 591
EPS in Rs 8.77 10.28 10.44 10.65 11.89 12.38 2.75 11.30 22.55 31.77 14.16 14.83
Dividend Payout % 23% 21% 21% 21% 18% 18% 44% 19% 11% 31% 28% 34%
Compounded Sales Growth
10 Years: 6%
5 Years: 4%
3 Years: 2%
TTM: 4%
Compounded Profit Growth
10 Years: 4%
5 Years: 39%
3 Years: -13%
TTM: 5%
Stock Price CAGR
10 Years: 11%
5 Years: 38%
3 Years: 8%
1 Year: -10%
Return on Equity
10 Years: 6%
5 Years: 7%
3 Years: 7%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 80 80 80 80 80 80 80 80 80 80 80 80
Reserves 4,143 4,426 5,465 6,539 7,224 7,241 6,782 9,160 11,693 11,960 12,647 12,059
789 744 1,288 805 1,093 1,069 1,559 37 6 2 5 2
1,571 1,250 1,558 1,666 1,918 2,074 1,702 1,887 2,347 1,867 2,319 2,229
Total Liabilities 6,583 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125 13,909 15,051 14,369
2,016 1,958 1,656 2,022 2,108 2,821 2,902 2,804 2,680 2,580 2,549 2,504
CWIP 186 261 405 273 763 187 107 117 158 200 236 690
Investments 859 898 1,740 2,530 2,790 2,376 2,087 4,331 6,314 5,329 6,015 5,055
3,521 3,383 4,590 4,266 4,654 5,079 5,026 3,912 4,973 5,801 6,251 6,119
Total Assets 6,583 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125 13,909 15,051 14,369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1,575 260 -243 911 358 508 -8 1,783 237 924 -268 83
-413 -134 -173 -238 -484 -281 -266 -23 -18 -39 106 -172
-938 -155 412 -656 134 -242 267 -1,559 -126 -114 -403 -159
Net Cash Flow 225 -30 -4 17 7 -15 -7 201 92 770 -566 -247

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 134 133 197 55 54 35 40 22 15 16 20 21
Inventory Days 77 71 56 82 80 106 96 75 95 70 82 89
Days Payable 65 39 54 70 76 67 30 40 55 34 50 40
Cash Conversion Cycle 146 164 199 67 58 74 105 57 55 52 52 69
Working Capital Days 115 131 167 177 154 125 162 108 116 92 84 93
ROCE % 12% 10% 6% 7% 9% 3% 6% 13% 13% 6% 6%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84%
26.38% 25.05% 22.41% 21.36% 20.54% 20.69% 19.82% 14.12% 13.31% 12.60% 11.81% 11.83%
6.17% 4.50% 2.49% 2.14% 2.57% 3.16% 3.65% 4.55% 4.90% 5.87% 6.06% 7.48%
0.00% 0.00% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65%
29.61% 32.61% 31.60% 33.01% 33.41% 32.65% 33.04% 37.84% 38.30% 38.05% 38.63% 37.21%
No. of Shareholders 1,53,2781,70,2691,85,3321,87,5701,80,8531,92,0961,98,3933,20,4853,38,2663,35,0883,38,4953,28,857

* 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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