National Fertilizer Ltd

National Fertilizer is engaged in production and marketing of Neem Coated Urea, Bio-Fertilizers (solid & liquid) and other allied Industrial products like Ammonia, Nitric Acid, Ammonium Nitrate, Sodium Nitrite and Sodium Nitrate. The Company is also engaged in trading of Imported and Domestic Fertilizers, Compost, Seeds, Agro Chemicals and other Agro products.

  • Market Cap: 1,607 Cr.
  • Current Price: 32.75
  • 52 weeks High / Low 45.00 / 14.70
  • Book Value: 39.16
  • Stock P/E: 4.10
  • Dividend Yield: 2.90 %
  • ROCE: 5.84 %
  • ROE: 10.17 %
  • Sales Growth (3Yrs): 20.01 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Edit ratios
Pros:
Stock is trading at 0.84 times its book value
Cons:
Company has low interest coverage ratio.
Company has a low return on equity of 11.41% for last 3 years.
Contingent liabilities of Rs.606.22 Cr.
Company might be capitalizing the interest cost
Dividend payout has been low at 1.11% of profits over last 3 years
Company has high debtors of 214.95 days.

Peer comparison Sector: Fertilizers // Industry: Fertilizers

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
2,140 2,835 2,100 2,162 3,231 3,764 3,133 2,547 3,662 3,789 3,014 2,832
1,968 2,712 1,956 2,019 3,024 3,518 2,855 2,531 3,516 3,482 2,748 2,508
Operating Profit 172 123 144 143 208 245 279 17 146 307 267 324
OPM % 8% 4% 7% 7% 6% 7% 9% 1% 4% 8% 9% 11%
Other Income 2 38 24 5 5 22 19 15 9 7 -363 6
Interest 55 48 46 64 82 78 92 105 107 94 100 101
Depreciation 16 26 18 18 19 23 86 23 25 76 128 77
Profit before tax 103 87 104 66 112 166 120 -97 23 144 -324 152
Tax % 36% 40% 35% 37% 35% 37% 32% 34% -5% 25% 26% 27%
Net Profit 67 52 68 41 72 104 81 -64 25 108 -239 110
EPS in Rs 1.36 1.07 1.38 0.84 1.48 2.12 1.65 -1.30 0.50 2.20 -4.88 2.25
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
5,121 5,086 5,787 7,303 6,718 8,012 8,514 7,757 7,600 8,943 12,245 13,135 13,297
4,900 4,775 5,525 6,995 6,678 7,874 8,130 7,197 7,041 8,404 11,416 12,276 12,253
Operating Profit 221 311 262 308 40 138 385 560 559 539 829 860 1,044
OPM % 4% 6% 5% 4% 1% 2% 5% 7% 7% 6% 7% 7% 8%
Other Income 76 57 43 37 -21 37 37 47 45 62 56 -332 -341
Interest 45 14 13 70 132 207 304 231 193 192 320 405 401
Depreciation 96 94 89 91 118 129 73 87 85 73 101 374 306
Profit before tax 156 260 204 184 -231 -161 45 288 325 335 463 -253 -4
Tax % 37% 34% 32% 31% 26% 44% 41% 31% 36% 36% 36% 32%
Net Profit 97 172 138 127 -171 -90 26 199 208 213 298 -171 3
EPS in Rs 1.88 3.32 2.69 2.46 0.00 0.00 0.50 4.05 4.24 4.34 6.08 -3.49 0.07
Dividend Payout % 30% 30% 30% 30% 0% 0% 32% 30% 0% 0% 31% -27%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.95%
5 Years:9.06%
3 Years:20.01%
TTM:4.91%
Compounded Profit Growth
10 Years:2.07%
5 Years:52.36%
3 Years:0.55%
TTM:102.93%
Stock Price CAGR
10 Years:-12.13%
5 Years:6.77%
3 Years:-18.66%
1 Year:25.24%
Return on Equity
10 Years:6.80%
5 Years:11.66%
3 Years:11.41%
Last Year:10.17%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
491 491 491 491 491 491 491 491 491 491 491 491
Reserves 980 1,092 1,182 1,264 1,093 1,003 990 1,200 1,336 1,497 1,728 1,430
Borrowings 265 403 665 2,985 5,615 7,558 7,645 6,124 4,135 3,061 6,464 7,931
1,002 915 1,033 1,672 3,888 4,702 4,332 4,207 4,223 4,582 5,231 4,731
Total Liabilities 2,738 2,900 3,370 6,411 11,087 13,754 13,458 12,021 10,184 9,630 13,914 14,582
734 666 599 550 3,501 4,682 4,443 4,259 4,059 4,080 3,993 3,726
CWIP 17 29 526 2,653 1,358 14 39 33 51 64 133 656
Investments 460 122 0 0 0 0 2 15 125 219 274 342
1,526 2,083 2,245 3,208 6,228 9,058 8,973 7,714 5,949 5,268 9,513 9,859
Total Assets 2,738 2,900 3,370 6,411 11,087 13,754 13,458 12,021 10,184 9,630 13,914 14,582

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
122 159 -286 -118 -678 -1,608 304 1,850 2,453 1,661 -2,707 -477
164 331 -516 -2,166 -1,774 -133 -89 -88 -202 -346 -306 -650
-339 93 141 2,257 2,455 1,739 -214 -1,760 -2,250 -1,314 3,022 1,130
Net Cash Flow -54 583 -661 -27 3 -2 1 2 1 1 9 3

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 11% 15% 10% 7% -1% 1% 4% 6% 8% 9% 11% 6%
Debtor Days 66 66 101 121 171 211 216 226 205 160 213 215
Inventory Turnover 11.06 11.20 12.95 13.59 11.91 16.44 19.44 15.77 10.51 12.07 9.08 7.23

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71 74.71
1.40 1.32 1.64 1.49 1.33 1.21 1.02 0.82 0.19 0.07 0.01 0.04
17.02 17.18 16.01 16.06 16.04 15.76 15.69 15.80 13.79 13.81 13.79 13.69
6.87 6.79 7.63 7.74 7.92 8.32 8.57 8.67 11.30 11.41 11.49 11.55