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Last Updated: April 2, 2026, 3:23 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523630 | NSE: NFL

National Fertilizer Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹48.59Overvalued by 29.99%vs CMP ₹69.40

P/E (17.5) × ROE (6.5%) × BV (₹52.30) × DY (2.25%)

₹72.64Fairly Valued by 4.67%vs CMP ₹69.40
MoS: +4.5% (Thin)Confidence: 37/100 (Low)Models: 2 Under, 3 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹71.5426%Fair (+3.1%)
Graham NumberEarnings₹68.4419%Fair (-1.4%)
DCFCash Flow₹5.0413%Over (-92.7%)
Net Asset ValueAssets₹52.258%Over (-24.7%)
EV/EBITDAEnterprise₹68.5911%Fair (-1.2%)
Earnings YieldEarnings₹39.808%Over (-42.7%)
ROCE CapitalReturns₹148.528%Under (+114%)
Revenue MultipleRevenue₹201.646%Under (+190.5%)
Consensus (8 models)₹72.64100%Fairly Valued
Key Drivers: EPS CAGR 47.2% lifts DCF — verify sustainability. | Wide model spread (₹5–₹202) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 47.2%

*Investments are subject to market risks

Investment Snapshot

46
National Fertilizer Ltd scores 46/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health44/100 · Moderate
ROCE 7.6% WeakROE 6.5% AverageD/E 0.83 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.46% (6mo) Slight increaseDII holding down 0.92% MF sellingPromoter holding at 74.7% Stable
Earnings Quality50/100 · Moderate
OPM stable around 3% Steady
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 5% YoY FlatProfit (4Q): -24% YoY Declining
Industry Rank50/100 · Moderate
P/E 17.5 vs industry 192.6 Cheaper than peersROCE 7.6% vs industry 13.0% Below peers3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

National Fertilizer Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
70/100
High
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 17.5 vs Ind 192.6 | ROCE 7.6% | ROE 6.5% | CFO/NP N/A
Balance Sheet Stress
50/100
Manageable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.83x | IntCov 0.0x | Current 1.07x | Borrow/Reserve 2.19x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹184 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.15 pp | DII -0.08 pp | Prom 0.00 pp
Business Momentum
+10
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +1.6% | Q NP +475.0% | Q OPM +2.0 pp
Derived FieldValueHow it is derived
Valuation Gap %+4.7%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves2.19xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.15 ppLatest FII% minus previous FII%
DII Change-0.08 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-9,555Latest shareholder count minus previous count
Quarterly Sales Change+1.6%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+475.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+2.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:23 am

Market Cap 3,407 Cr.
Current Price 69.4
Intrinsic Value₹72.64
High / Low 112/63.4
Stock P/E17.5
Book Value 52.3
Dividend Yield2.25 %
ROCE7.57 %
ROE6.49 %
Face Value 10.0
PEG Ratio0.37

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

View Share Price Target for National Fertilizer Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
National Fertilizer Ltd 3,407 Cr. 69.4 112/63.417.5 52.32.25 %7.57 %6.49 % 10.0
Mangalore Chemicals & Fertilizers Ltd 3,659 Cr. 309 373/14722.7 89.80.49 %15.4 %14.9 % 10.0
Krishana Phoschem Ltd 3,017 Cr. 498 619/21023.2 73.40.10 %21.7 %25.3 % 10.0
Madhya Bharat Agro Products Ltd 4,423 Cr. 505 510/24042.3 52.30.10 %18.0 %15.2 % 10.0
Southern Petrochemicals Industries Corporation Ltd (SPIC) 1,243 Cr. 61.0 128/55.06.17 63.83.28 %16.9 %13.8 % 10.0
Industry Average9,736.35 Cr342.44192.60185.721.19%13.03%10.58%6.96

All Competitor Stocks of National Fertilizer Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 10,1376,2575,0485,6607,5845,2845,0924,3905,8564,4573,5346,7636,870
Expenses 9,2356,5905,0605,7147,2664,9054,9854,2655,7104,2223,4536,6606,574
Operating Profit 902-333-12-5531837910712514623481103296
OPM % 9%-5%-0%-1%4%7%2%3%2%5%2%2%4%
Other Income 33179345825555337476291559
Interest 948410439507490604135465572
Depreciation 908987909292919394959699110
Profit before tax 752-326-169-127201268-21957167-52-36172
Tax % 26%-28%-28%-31%25%23%-59%-35%19%19%-24%-0%22%
Net Profit 554-236-121-87151208-91246135-39-36135
EPS in Rs 11.29-4.81-2.48-1.783.084.23-0.180.250.932.75-0.80-0.732.76

Last Updated: March 3, 2026, 6:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 4:46 am

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 8,5147,7577,6008,94312,42913,13511,90615,85729,58723,55619,79821,624
Expenses 8,1307,1977,0418,40411,41712,28311,00115,46928,50922,93919,18220,909
Operating Profit 3855605595391,0128529043881,077617615714
OPM % 5%7%7%6%8%6%8%2%4%3%3%3%
Other Income 3745456252-3313326195196203145
Interest 304231193192320409294137308277233207
Depreciation 73878573285374312335353362373400
Profit before tax 45287325335459-263331-58612174212252
Tax % 41%31%36%36%36%-31%28%63%25%14%13%
Net Profit 26197208213294-181237-95458150184195
EPS in Rs 0.534.024.244.345.99-3.694.83-1.949.343.063.753.98
Dividend Payout % 32%30%0%0%31%-26%0%0%30%9%42%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)657.69%5.58%2.40%38.03%-161.56%230.94%-140.08%582.11%-67.25%22.67%
Change in YoY Net Profit Growth (%)0.00%-652.11%-3.18%35.62%-199.59%392.50%-371.02%722.19%-649.35%89.92%

National Fertilizer Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:9%
3 Years:8%
TTM:-23%
Compounded Profit Growth
10 Years:22%
5 Years:-1%
3 Years:57%
TTM:-42%
Stock Price CAGR
10 Years:16%
5 Years:23%
3 Years:24%
1 Year:-27%
Return on Equity
10 Years:10%
5 Years:8%
3 Years:10%
Last Year:7%

Last Updated: September 5, 2025, 11:35 am

Balance Sheet

Last Updated: December 10, 2025, 3:08 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 491491491491491491491491491491491491
Reserves 9901,1991,3341,4951,7201,4121,6501,5892,0512,0552,2252,074
Borrowings 7,6456,1244,1353,0616,4648,1031,8923,1723,9934,0912,0014,537
Other Liabilities 4,3324,2074,2234,5825,2314,5614,3825,2446,0024,5634,5996,183
Total Liabilities 13,45812,01910,1829,62813,90514,5658,41410,49612,53611,1999,31613,284
Fixed Assets 4,4434,2594,0594,0803,9933,7263,6154,2303,9693,8313,6943,626
CWIP 39335164133656862138178242172180
Investments 023152217265323416257259336443410
Other Assets 8,9757,7055,9215,2689,5139,8613,5205,8708,1316,7915,0079,068
Total Assets 13,45812,01910,1829,62813,90514,5658,41410,49612,53611,1999,31613,284

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3041,8482,4531,661-2,703-3197,021-1,029-3336682,590
Cash from Investing Activity + -89-87-201-346-310-810-497-129-206-334-268
Cash from Financing Activity + -214-1,760-2,250-1,3143,0221,132-6,5051,145526-318-2,334
Net Cash Flow 12119320-14-1316-12
Free Cash Flow 2121,7712,3641,364-2,969-1,0756,607-1,322-5403862,418
CFO/OP 79%340%452%325%-258%-32%779%-252%-18%109%410%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow378.00554.00555.00536.00-5.00844.00903.00385.00-2.00613.00613.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 2162262051602102158165516360
Inventory Days 2549634590672590574128
Days Payable 1531444235474258333146
Cash Conversion Cycle 2252442241632652356497757242
Working Capital Days 30302929288437-30
ROCE %6%8%9%11%6%9%2%16%7%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%74.71%
FIIs 0.54%0.39%0.39%1.10%0.48%0.41%0.41%0.42%0.60%0.49%0.91%1.06%
DIIs 12.40%11.89%9.90%8.51%8.38%7.47%7.27%7.28%6.83%6.21%5.99%5.91%
Public 12.36%13.01%15.00%15.68%16.43%17.39%17.60%17.58%17.85%18.58%18.39%18.31%
No. of Shareholders 1,12,9851,18,2371,34,9461,57,9192,34,2012,59,8883,15,4483,07,9983,10,5633,10,8472,99,0762,89,521

Shareholding Pattern Chart

No. of Shareholders

National Fertilizer Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund 135,750 0.17 0.97135,7502025-04-22 17:25:250%
Taurus Largecap Equity Fund 97,618 1.84 0.797,6182025-04-22 17:25:250%
Taurus ELSS Tax Saver Fund 64,160 0.68 0.4664,1602025-04-22 17:25:250%
Groww Nifty Total Market Index Fund 349 0.01 03492025-04-22 17:25:250%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 3.753.069.34-1.944.83
Diluted EPS (Rs.) 3.753.069.34-1.944.83
Cash EPS (Rs.) 9.168.6916.499.0311.45
Book Value[Excl.RevalReserv]/Share (Rs.) 55.3652.0751.8141.7343.63
Book Value[Incl.RevalReserv]/Share (Rs.) 55.3652.0751.8141.7343.63
Revenue From Operations / Share (Rs.) 403.49480.25603.70323.23242.69
PBDIT / Share (Rs.) 14.3214.6325.7712.4819.30
PBIT / Share (Rs.) 6.727.2518.585.6612.94
PBT / Share (Rs.) 2.121.8012.432.957.00
Net Profit / Share (Rs.) 1.551.329.302.215.09
NP After MI And SOA / Share (Rs.) 3.753.069.34-1.944.83
PBDIT Margin (%) 3.553.044.263.867.95
PBIT Margin (%) 1.661.513.071.755.33
PBT Margin (%) 0.520.372.050.912.88
Net Profit Margin (%) 0.380.271.540.682.09
NP After MI And SOA Margin (%) 0.920.631.54-0.591.99
Return on Networth / Equity (%) 6.775.8718.03-4.6411.07
Return on Capital Employeed (%) 7.498.0317.795.6912.32
Return On Assets (%) 1.971.333.65-0.902.81
Long Term Debt / Equity (X) 0.000.000.210.300.30
Total Debt / Equity (X) 0.731.601.571.550.83
Asset Turnover Ratio (%) 1.931.982.571.661.03
Current Ratio (X) 1.010.981.081.031.07
Quick Ratio (X) 0.820.720.660.620.94
Inventory Turnover Ratio (X) 14.883.164.004.624.31
Dividend Payout Ratio (NP) (%) 7.2091.210.000.000.00
Dividend Payout Ratio (CP) (%) 2.3726.740.000.000.00
Earning Retention Ratio (%) 92.808.790.000.000.00
Cash Earning Retention Ratio (%) 97.6373.260.000.000.00
Interest Coverage Ratio (X) 3.112.684.194.613.25
Interest Coverage Ratio (Post Tax) (X) 1.341.242.511.811.86
Enterprise Value (Cr.) 5905.788348.857529.525743.284502.87
EV / Net Operating Revenue (X) 0.290.350.250.360.37
EV / EBITDA (X) 8.4011.645.969.384.75
MarketCap / Net Operating Revenue (X) 0.190.180.120.160.23
Retention Ratios (%) 92.798.780.000.000.00
Price / BV (X) 1.451.681.401.271.29
Price / Net Operating Revenue (X) 0.190.180.120.160.23
EarningsYield 0.040.030.12-0.030.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

National Fertilizers Ltd. is a Public Limited Listed company incorporated on 23/08/1974 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1974GOI007417 and registration number is 007417. Currently Company is involved in the business activities of Manufacture of urea and other organic fertilizers. Company's Total Operating Revenue is Rs. 19794.50 Cr. and Equity Capital is Rs. 490.58 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
FertilisersScope Complex, Core 3, New Delhi Delhi 110003Contact not found
Management
NamePosition Held
Mr. U SaravananChairman & Managing Director
Mr. Hira NandDirector - Finance
Mr. Jyoti Bhramar TubidNon Official Independent Director
Dr. Prathibha AnirudhanGovernment Nominee Director
Mr. Mahesh Chander GuptaDirector - Marketing
Mr. Ritu GoswamiDirector - Technical
Mr. Bharat BhushanGovernment Nominee Director
Mr. Rabi Ranjan SenNon Official Independent Director
Mr. Pinky PradhanNon Official Independent Director

FAQ

What is the intrinsic value of National Fertilizer Ltd and is it undervalued?

As of 05 April 2026, National Fertilizer Ltd's intrinsic value is ₹72.64, which is 4.67% higher than the current market price of ₹69.40, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (6.49 %), book value (₹52.3), dividend yield (2.25 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of National Fertilizer Ltd?

National Fertilizer Ltd is trading at ₹69.40 as of 05 April 2026, with a FY2026-2027 high of ₹112 and low of ₹63.4. The stock is currently near its 52-week low. Market cap stands at ₹3,407 Cr..

How does National Fertilizer Ltd's P/E ratio compare to its industry?

National Fertilizer Ltd has a P/E ratio of 17.5, which is below the industry average of 192.60. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is National Fertilizer Ltd financially healthy?

Key indicators for National Fertilizer Ltd: ROCE of 7.57 % is on the lower side compared to the industry average of 13.03%; ROE of 6.49 % is below ideal levels (industry average: 10.58%). Dividend yield is 2.25 %.

Is National Fertilizer Ltd profitable and how is the profit trend?

National Fertilizer Ltd reported a net profit of ₹184 Cr in Mar 2025 on revenue of ₹19,798 Cr. Compared to ₹-95 Cr in Mar 2022, the net profit shows an improving trend.

Does National Fertilizer Ltd pay dividends?

National Fertilizer Ltd has a dividend yield of 2.25 % at the current price of ₹69.40. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in National Fertilizer Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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