Gujarat Narmada Valley Fertilizers & Chemicals Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹391.80Overvalued by 33.93%vs CMP ₹593.00

P/E (8.5) × ROE (9.1%) × BV (₹611.00) × DY (3.54%)

₹495.96Overvalued by 16.36%vs CMP ₹593.00

MoS: -19.6% (Negative)Confidence: 52/100 (Moderate)Models: 2 Under, 2 Fair, 5 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹323.18	23%	Over (-45.5%)
Graham Number	Earnings	₹758.60	16%	Under (+27.9%)
Earnings Power	Earnings	₹405.42	11%	Over (-31.6%)
DCF	Cash Flow	₹412.39	14%	Over (-30.5%)
Net Asset Value	Assets	₹611.17	7%	Fair (+3.1%)
EV/EBITDA	Enterprise	₹499.43	9%	Over (-15.8%)
Earnings Yield	Earnings	₹418.60	7%	Over (-29.4%)
ROCE Capital	Returns	₹664.51	7%	Under (+12.1%)
Revenue Multiple	Revenue	₹537.06	5%	Fair (-9.4%)
Consensus (9 models)		₹495.96	100%	Overvalued

Key Drivers: EPS CAGR -17.5% drags value — could be higher if earnings stabilize.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -17.5%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 25 August 2026, 6:43 am +05:30. Annual results through Mar 2025; quarterly results through Sep 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹7,892.00 Cr, versus ₹7,930.00 Cr in Mar 2024 (-0.5% year on year). Net profit for Mar 2025 was ₹586.00 Cr, versus ₹485.00 Cr in Mar 2024 (20.8% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹605.00 Cr against net profit of ₹586.00 Cr. Cash flow covered 1.03 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹5.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Gujarat Narmada Valley Fertilizers & Chemicals Ltd scores 63/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health80/100 · Strong

ROCE 12.2% GoodROE 9.1% AverageD/E 0.01 Low debtInterest Coverage 48.6x StrongProfitable 5/5 available years Reported history

Smart Money70/100 · Strong

FII holding up 1.03% (6mo) AccumulatingPromoter holding at 41.3% Stable

Earnings Quality50/100 · Moderate

CFO/NP ratio: 0.79x Partially cash-backedOPM contracting (23% → 7%) Declining

Quarterly Momentum65/100 · Strong

Revenue (4Q): -8% YoY DecliningProfit (4Q): +42% YoY StrongOPM: 9.0% (up 4.0% YoY) Margin expansion

Industry Rank45/100 · Moderate

P/E 8.5 vs industry 17.2 Lower P/EROCE 12.2% vs industry 13.6% AverageROE 9.1% vs industry 24.6% Below peers3Y sales CAGR: -3% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 6:43 am

Market Cap	8,714 Cr.
Current Price	593
Intrinsic Value	₹495.96
High / Low	619/365
Stock P/E	8.47
Book Value	611
Dividend Yield	3.54 %
ROCE	12.2 %
ROE	9.14 %
Face Value	10.0
PEG Ratio	-0.48

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Gujarat Narmada Valley Fertilizers & Chemicals Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Gujarat Narmada Valley Fertilizers & Chemicals Ltd	8,714 Cr.	593	619/365	8.47	611	3.54 %	12.2 %	9.14 %	10.0
Madhya Bharat Agro Products Ltd	7,401 Cr.	169	175/74.6	47.8	12.6	0.06 %	19.3 %	31.3 %	2.00
Gujarat State Fertilizer & Chemicals Ltd	6,362 Cr.	160	221/139	9.46	304	3.13 %	7.06 %	5.40 %	2.00
Gujarat State Fertilizers & Chemicals Ltd	6,344 Cr.	159	221/139	9.15	308	3.13 %	7.16 %	5.51 %	2.00
Krishana Phoschem Ltd	6,173 Cr.	200	202/86.2	31.4	18.1	0.05 %	27.2 %	38.2 %	2.00
Industry Average	9,848.67 Cr	341.47		17.23	181.77	1.13%	13.61%	24.60%	6.26

All Competitor Stocks of Gujarat Narmada Valley Fertilizers & Chemicals Ltd

Quarterly Result

Metric	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	2,587	2,673	2,271	1,652	2,080	2,088	2,110	2,021	1,917	1,899	2,055	1,601	1,968
Expenses	2,278	2,235	1,902	1,547	1,911	2,004	1,965	1,868	1,827	1,767	1,815	1,570	1,783
Operating Profit	309	438	369	105	169	84	145	153	90	132	240	31	185
OPM %	12%	16%	16%	6%	8%	4%	7%	8%	5%	7%	12%	2%	9%
Other Income	85	77	123	88	152	121	108	99	123	157	122	150	127
Interest	1	1	1	1	1	7	4	17	2	3	1	2	1
Depreciation	77	76	74	76	78	76	78	78	76	75	74	74	81
Profit before tax	316	438	417	116	242	122	171	157	135	211	287	105	230
Tax %	25%	26%	20%	27%	26%	22%	26%	27%	24%	25%	27%	26%	23%
Net Profit	237	324	334	85	178	95	127	115	102	158	210	78	177
EPS in Rs	15.25	20.85	21.49	5.47	11.45	6.47	8.64	7.83	6.94	10.75	14.29	5.31	12.05

Last Updated: January 1, 2026, 1:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 7:46 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	4,847	4,642	4,552	4,589	5,837	5,896	5,162	5,129	8,642	10,227	7,930	7,892	7,620
Expenses	4,231	4,662	3,989	3,936	4,445	5,022	4,621	4,125	6,259	8,348	7,428	7,277	6,983
Operating Profit	616	-21	563	653	1,392	874	542	1,003	2,384	1,879	502	615	637
OPM %	13%	-0%	12%	14%	24%	15%	10%	20%	28%	18%	6%	8%	8%
Other Income	45	52	252	517	140	215	153	237	209	361	469	501	496
Interest	92	274	297	203	100	6	5	20	3	5	13	23	5
Depreciation	145	209	251	251	270	263	264	272	292	303	308	303	302
Profit before tax	424	-452	268	715	1,162	819	425	948	2,298	1,932	651	790	826
Tax %	31%	-0%	35%	27%	32%	10%	-17%	27%	26%	24%	26%	26%
Net Profit	292	-452	173	521	790	741	499	689	1,704	1,464	485	586	615
EPS in Rs	18.81	-29.09	11.11	33.54	50.80	47.69	32.10	44.35	109.62	94.20	32.99	39.85	41.86
Dividend Payout %	19%	-0%	18%	15%	15%	15%	16%	18%	9%	32%	50%	45%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-254.79%	138.27%	201.16%	51.63%	-6.20%	-32.66%	38.08%	147.31%	-14.08%	-66.87%	20.82%
Change in YoY Net Profit Growth (%)	0.00%	393.07%	62.88%	-149.52%	-57.83%	-26.46%	70.73%	109.24%	-161.40%	-52.79%	87.70%

Gujarat Narmada Valley Fertilizers & Chemicals Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	5%
5 Years:	9%
3 Years:	-3%
TTM:	-10%

Compounded Profit Growth
10 Years:	13%
5 Years:	3%
3 Years:	-30%
TTM:	6%

Stock Price CAGR
10 Years:	25%
5 Years:	20%
3 Years:	-11%
1 Year:	-27%

Return on Equity
10 Years:	13%
5 Years:	13%
3 Years:	10%
Last Year:	7%

Last Updated: September 5, 2025, 5:35 am

Balance Sheet

Last Updated: September 7, 2026, 3:00 am

Month	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	155	155	155	155	155	155	155	155	155	147	147	147
Reserves	2,325	3,122	3,646	4,303	4,842	5,067	5,828	7,743	8,851	8,051	8,305	8,834
Borrowings	3,844	3,101	1,959	303	208	860	4	2	2	3	106	5
Other Liabilities	2,164	2,130	2,142	2,411	2,337	2,261	2,321	2,764	2,613	2,405	2,366	2,282
Total Liabilities	8,488	8,509	7,903	7,172	7,542	8,344	8,309	10,664	11,621	10,606	10,924	11,268
Fixed Assets	4,468	4,367	4,442	4,161	3,959	3,810	3,720	3,578	3,381	3,238	3,094	2,882
CWIP	13	9	14	14	25	82	161	138	187	289	382	900
Investments	145	729	762	726	732	596	853	1,222	3,106	2,919	2,181	1,558
Other Assets	3,861	3,404	2,683	2,271	2,826	3,856	3,575	5,727	4,946	4,160	5,268	5,928
Total Assets	8,488	8,509	7,903	7,172	7,542	8,344	8,309	10,664	11,621	10,606	10,924	11,268

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	490	996	1,445	1,819	701	286	1,884	1,967	1,373	31	605	654
Cash from Investing Activity +	-284	36	-53	49	-310	-901	-856	-1,899	-1,229	1,235	-466	-230
Cash from Financing Activity +	-363	-1,037	-1,073	-1,400	-185	546	-934	-130	-160	-1,281	-262	-269
Net Cash Flow	-156	-5	320	468	206	-69	95	-62	-16	-14	-123	155
Free Cash Flow	207	931	1,358	1,850	603	155	1,669	1,829	1,202	-218	154	108
CFO/OP	-2,423%	179%	233%	146%	93%	62%	210%	109%	104%	49%	128%	111%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	207.00	931.00	1,358.00	1,850.00	603.00	155.00	1,669.00	1,829.00	1,202.00	-218.00	154.00	108.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	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	110	107	119	88	70	77	100	36	26	13	29	20
Inventory Days	99	98	107	110	98	106	125	129	91	84	94	105
Days Payable	35	39	40	57	61	50	68	63	59	42	42	40
Cash Conversion Cycle	173	166	186	142	107	132	156	103	58	55	81	84
Working Capital Days	-7	9	8	27	57	76	117	68	97	46	58	61
ROCE %	8%	-3%	9%	10%	24%	17%	8%	16%	33%	23%	8%	10%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	41.18%	41.30%	41.30%	41.30%	41.30%	41.30%	41.30%	41.30%	41.30%	41.30%	41.30%	41.30%
FIIs	18.63%	20.11%	19.40%	19.18%	16.15%	15.41%	15.03%	12.67%	12.08%	12.13%	12.05%	13.11%
DIIs	6.24%	7.58%	9.30%	6.58%	11.16%	11.10%	10.14%	10.49%	10.69%	11.12%	11.07%	11.02%
Public	33.93%	31.00%	29.99%	32.93%	31.38%	32.18%	33.53%	35.53%	35.92%	35.44%	35.58%	34.57%
No. of Shareholders	2,76,128	2,57,362	2,53,003	2,63,160	2,67,079	2,73,572	2,68,629	2,72,575	2,75,857	2,71,480	2,65,793	2,60,335

Shareholding Pattern Chart

No. of Shareholders

Gujarat Narmada Valley Fertilizers & Chemicals Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
ICICI Prudential Multi Asset Fund	3,701,077	0.21	172.77	3,488,646	2026-01-24 06:16:23	6.09%
ICICI Prudential Smallcap Fund	2,500,000	1.44	116.7	1,895,613	2025-12-07 05:36:57	31.88%
ICICI Prudential Large & Mid Cap Fund	2,122,850	0.36	99.09	2,088,717	2026-01-25 07:17:08	1.63%
ICICI Prudential Multicap Fund	1,594,139	0.47	74.41	1,092,557	2025-12-07 12:58:36	45.91%
ICICI Prudential Business Cycle Fund	1,057,003	0.31	49.34	N/A	N/A	N/A
ICICI Prudential Manufacturing Fund	922,745	0.68	43.07	622,745	2025-12-07 20:47:36	48.17%
ICICI Prudential PSU Equity Fund	213,942	0.52	9.99	N/A	N/A	N/A
ICICI Prudential Commodities Fund	200,000	0.26	9.34	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	40.68	32.47	94.68	110.05	44.84
Diluted EPS (Rs.)	40.68	32.47	94.68	110.05	44.84
Cash EPS (Rs.)	60.46	53.92	113.69	128.39	61.87
Book Value[Excl.RevalReserv]/Share (Rs.)	583.62	565.45	585.84	514.09	390.44
Book Value[Incl.RevalReserv]/Share (Rs.)	583.62	565.45	585.84	514.09	390.44
Revenue From Operations / Share (Rs.)	537.12	539.66	658.02	556.06	329.99
PBDIT / Share (Rs.)	75.96	66.09	144.11	166.85	79.82
PBIT / Share (Rs.)	55.35	45.16	124.62	148.08	62.30
PBT / Share (Rs.)	53.79	44.31	124.28	147.86	61.02
Net Profit / Share (Rs.)	39.85	32.99	94.19	109.62	44.34
NP After MI And SOA / Share (Rs.)	40.68	33.83	94.68	110.05	44.84
PBDIT Margin (%)	14.14	12.24	21.90	30.00	24.18
PBIT Margin (%)	10.30	8.36	18.93	26.63	18.87
PBT Margin (%)	10.01	8.21	18.88	26.59	18.49
Net Profit Margin (%)	7.41	6.11	14.31	19.71	13.43
NP After MI And SOA Margin (%)	7.57	6.26	14.38	19.79	13.58
Return on Networth / Equity (%)	6.97	5.98	16.16	21.40	11.48
Return on Capital Employeed (%)	8.25	6.91	18.61	24.57	13.04
Return On Assets (%)	5.43	4.65	12.58	15.95	8.31
Total Debt / Equity (X)	0.01	0.00	0.00	0.00	0.00
Asset Turnover Ratio (%)	0.72	0.70	0.91	0.90	0.61
Current Ratio (X)	4.67	4.14	3.77	3.61	3.57
Quick Ratio (X)	3.57	3.11	2.90	2.89	2.73
Inventory Turnover Ratio (X)	6.64	5.25	6.66	5.60	3.43
Dividend Payout Ratio (NP) (%)	40.55	93.80	10.56	7.26	11.15
Dividend Payout Ratio (CP) (%)	26.92	57.94	8.75	6.21	8.01
Earning Retention Ratio (%)	59.45	6.20	89.44	92.74	88.85
Cash Earning Retention Ratio (%)	73.08	42.06	91.25	93.79	91.99
Interest Coverage Ratio (X)	48.63	77.57	425.81	749.48	62.18
Interest Coverage Ratio (Post Tax) (X)	26.51	39.72	279.32	493.41	35.55
Enterprise Value (Cr.)	5084.86	7652.47	5923.19	11944.13	3224.13
EV / Net Operating Revenue (X)	0.64	0.96	0.57	1.38	0.62
EV / EBITDA (X)	4.56	7.88	2.64	4.61	2.60
MarketCap / Net Operating Revenue (X)	0.92	1.16	0.77	1.52	0.91
Retention Ratios (%)	59.44	6.19	89.43	92.73	88.84
Price / BV (X)	0.85	1.10	0.86	1.64	0.77
Price / Net Operating Revenue (X)	0.92	1.16	0.77	1.52	0.91
EarningsYield	0.08	0.05	0.18	0.13	0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Gujarat Narmada Valley Fertilizers & Chemicals Ltd and is it undervalued?

Gujarat Narmada Valley Fertilizers & Chemicals Ltd: the stored intrinsic value estimate is ₹495.96, compared with a stored share price of ₹593.00. The model value is 16.4% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Gujarat Narmada Valley Fertilizers & Chemicals Ltd?

The stored share price is ₹593.00. Price-data record updated: 25 August 2026, 6:43 am +05:30. This is not a live quote. The stored 52-week high / low is 619/365; this is a rolling range, not a financial-year range.

How have Gujarat Narmada Valley Fertilizers & Chemicals Ltd's revenue and profit changed?

Does Gujarat Narmada Valley Fertilizers & Chemicals Ltd's profit convert into cash?

What should I check in Gujarat Narmada Valley Fertilizers & Chemicals Ltd's balance sheet?

Reported borrowings were ₹5.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Gujarat Narmada Valley Fertilizers & Chemicals Ltd's P/E with other stocks?

The stored P/E is 8.47. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Gujarat Narmada Valley Fertilizers & Chemicals Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.