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Last Updated: April 2, 2026, 3:34 am
Author: Getaka|Social: XLinkedIn

Rashtriya Chemicals & Fertilizers Ltd (RCF): Intrinsic Value & Share Price Analysis

Fair Value

₹74.78Overvalued by 35.53%vs CMP ₹116.00

P/E (20.6) × ROE (5.0%) × BV (₹89.20) × DY (1.14%)

₹79.99Overvalued by 31.04%vs CMP ₹116.00
MoS: -45% (Negative)Confidence: 53/100 (Moderate)Models: 2 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹63.6423%Over (-45.1%)
Graham NumberEarnings₹106.7716%Fair (-8%)
Earnings PowerEarnings₹4.0111%Over (-96.5%)
DCFCash Flow₹5.6114%Over (-95.2%)
Net Asset ValueAssets₹89.387%Over (-22.9%)
EV/EBITDAEnterprise₹86.699%Over (-25.3%)
Earnings YieldEarnings₹56.807%Over (-51%)
ROCE CapitalReturns₹159.057%Under (+37.1%)
Revenue MultipleRevenue₹307.515%Under (+165.1%)
Consensus (9 models)₹79.99100%Overvalued
Key Drivers: Wide model spread (₹4–₹308) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -14.9%

*Investments are subject to market risks

Investment Snapshot

53
Rashtriya Chemicals & Fertilizers Ltd (RCF) scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 7.5% WeakROE 5.0% WeakD/E 0.55 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.04% (6mo) Slight increasePromoter holding at 75.0% Stable
Earnings Quality50/100 · Moderate
OPM contracting (8% → 4%) DecliningWorking capital: 4 days (improving) Efficient
Quarterly Momentum58/100 · Moderate
Revenue (4Q): -3% YoY FlatProfit (4Q): +18% YoY Positive
Industry Rank45/100 · Moderate
P/E 20.6 vs industry 192.6 Cheaper than peersROCE 7.5% vs industry 13.0% Below peersROE 5.0% vs industry 10.6% Below peers3Y sales CAGR: 10% Moderate

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.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:34 am

Market Cap 6,388 Cr.
Current Price 116
Intrinsic Value₹79.99
High / Low 167/106
Stock P/E20.6
Book Value 89.2
Dividend Yield1.14 %
ROCE7.49 %
ROE5.03 %
Face Value 10.0
PEG Ratio-1.38

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

View Share Price Target for Rashtriya Chemicals & Fertilizers Ltd (RCF)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Rashtriya Chemicals & Fertilizers Ltd (RCF) 6,388 Cr. 116 167/10620.6 89.21.14 %7.49 %5.03 % 10.0
Gujarat State Fertilizer & Chemicals Ltd 5,914 Cr. 148 221/1398.75 3093.37 %6.12 %4.68 % 2.00
Gujarat State Fertilizers & Chemicals Ltd 5,914 Cr. 148 221/1398.54 3133.37 %6.18 %4.77 % 2.00
Gujarat Narmada Valley Fertilizers & Chemicals Ltd 5,749 Cr. 391 574/3659.35 5804.60 %9.70 %7.03 % 10.0
Madhya Bharat Agro Products Ltd 4,423 Cr. 505 510/24042.3 52.30.10 %18.0 %15.2 % 10.0
Industry Average9,736.35 Cr342.44192.60185.721.19%13.03%10.58%6.96

All Competitor Stocks of Rashtriya Chemicals & Fertilizers Ltd (RCF)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6,2354,6844,0434,1554,9043,8804,3964,2904,5183,7303,3715,2934,236
Expenses 5,7974,4993,9144,0504,8193,6874,2804,0884,3393,5513,2135,0793,992
Operating Profit 43818512910584193116202179178158214244
OPM % 7%4%3%3%2%5%3%5%4%5%5%4%6%
Other Income 401165867384430434354395152
Interest 704439444852707653545655103
Depreciation 51595656566460626378667075
Profit before tax 3571979272171201610610510075141118
Tax % 31%19%26%29%35%21%34%26%24%28%28%25%31%
Net Profit 24516068511195117980725410581
EPS in Rs 4.442.891.230.920.201.730.201.431.451.310.991.911.47

Last Updated: March 3, 2026, 3:08 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6,5607,6948,2417,0997,2558,8859,6988,28112,81221,45216,98116,93416,629
Expenses 5,9926,8407,7666,6806,9868,4489,1117,52711,82019,96816,46116,25315,835
Operating Profit 5688534754192684375867549921,483520681794
OPM % 9%11%6%6%4%5%6%9%8%7%3%4%5%
Other Income 736681666110426133263236204169197
Interest 1371231479664157239181130234190259268
Depreciation 145263148141137156171175184212233263290
Profit before tax 3595332622491282292025309421,273301328434
Tax % 33%35%35%28%39%42%-3%28%25%24%25%26%
Net Profit 24134616917979133207384702966225242313
EPS in Rs 4.376.273.063.251.432.413.756.9612.7317.524.084.395.68
Dividend Payout % 34%29%36%34%42%32%76%43%30%30%30%30%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)43.57%-51.16%5.92%-55.87%68.35%55.64%85.51%82.81%37.61%-76.71%7.56%
Change in YoY Net Profit Growth (%)0.00%-94.72%57.07%-61.78%124.22%-12.72%29.87%-2.69%-45.21%-114.31%84.26%

Rashtriya Chemicals & Fertilizers Ltd (RCF) 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:8%
5 Years:12%
3 Years:10%
TTM:-8%
Compounded Profit Growth
10 Years:-4%
5 Years:-3%
3 Years:-26%
TTM:80%
Stock Price CAGR
10 Years:15%
5 Years:28%
3 Years:17%
1 Year:-19%
Return on Equity
10 Years:9%
5 Years:11%
3 Years:10%
Last Year:5%

Last Updated: September 5, 2025, 1:00 pm

Balance Sheet

Last Updated: December 10, 2025, 3:19 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 552552552552552552552552552552552552552
Reserves 1,9382,1652,2652,3732,3782,4772,6272,8003,3304,0384,0544,1944,370
Borrowings 1,7802,0002,9971,7691,3313,4624,8142,0792,9791,8773,2972,7622,778
Other Liabilities 1,3751,5691,8581,8662,0872,4522,3162,2403,6983,2673,5753,7725,602
Total Liabilities 5,6456,2857,6726,5596,3488,94210,3097,66910,5589,73411,47711,28013,302
Fixed Assets 1,6761,5521,5071,5471,9101,9502,1302,1822,1342,5432,5582,9053,082
CWIP 7762150107152276433406513211431579737
Investments 00494562802566459359949921,0951,299
Other Assets 3,8914,6725,9664,8604,2236,6367,4904,4376,9775,9867,4976,7008,184
Total Assets 5,6456,2857,6726,5596,3488,94210,3097,66910,5589,73411,47711,28013,302

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 315212-6331,5951,078-1,636-5225,211-592787-4222,364
Cash from Investing Activity + -82-201-259-180-496-310-531-610-379-316-464-681
Cash from Financing Activity + -2103811-1,406-5881,9451,052-3,131599-1,5601,032-853
Net Cash Flow 2314-829-5-2-11,470-372-1,088145831
Free Cash Flow 935-9001,409584-1,934-9484,970-752402-8401,538
CFO/OP 69%54%-111%398%412%-352%-72%706%-38%79%-68%356%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow567.00851.00473.00418.00267.00434.00582.00752.00990.000.00517.00679.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1541561921871441871716486447667
Inventory Days 9410112297901397882138809556
Days Payable 58606375821068091137617179
Cash Conversion Cycle 19119825120915122017055876310144
Working Capital Days 7378668379675471635304
ROCE %12%15%8%7%4%7%8%11%15%21%6%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs 2.37%2.27%2.55%2.92%2.58%2.40%2.32%2.26%2.46%2.28%2.31%2.50%
DIIs 1.17%0.35%0.34%0.35%0.34%0.35%0.29%0.29%0.30%0.31%0.33%0.41%
Public 21.46%22.37%22.10%21.74%22.08%22.25%22.39%22.45%22.24%22.41%22.36%22.08%
No. of Shareholders 2,33,5732,40,8782,40,2982,60,1822,93,1603,18,1333,59,4013,60,2803,59,4643,60,3863,53,4783,43,881

Shareholding Pattern Chart

No. of Shareholders

Rashtriya Chemicals & Fertilizers Ltd (RCF): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Taurus Ethical Fund 100,000 0.38 1.37N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 4.394.0817.5212.736.80
Diluted EPS (Rs.) 4.394.0817.5212.736.80
Cash EPS (Rs.) 9.148.3521.3816.099.93
Book Value[Excl.RevalReserv]/Share (Rs.) 86.0183.4883.2070.3660.42
Book Value[Incl.RevalReserv]/Share (Rs.) 86.0183.4883.2070.3660.42
Revenue From Operations / Share (Rs.) 306.94307.81388.83232.23150.10
PBDIT / Share (Rs.) 15.2212.3329.3020.4015.69
PBIT / Share (Rs.) 10.468.1025.4517.0812.53
PBT / Share (Rs.) 5.945.5023.0917.119.36
Net Profit / Share (Rs.) 4.384.1317.5312.776.76
NP After MI And SOA / Share (Rs.) 4.394.0817.5212.736.80
PBDIT Margin (%) 4.954.007.538.7810.45
PBIT Margin (%) 3.402.636.547.358.34
PBT Margin (%) 1.931.785.937.366.23
Net Profit Margin (%) 1.421.344.505.494.50
NP After MI And SOA Margin (%) 1.431.324.505.484.53
Return on Networth / Equity (%) 5.104.8921.0518.0911.25
Return on Capital Employeed (%) 9.217.2822.9317.1913.65
Return On Assets (%) 2.151.969.956.664.92
Long Term Debt / Equity (X) 0.190.200.220.280.31
Total Debt / Equity (X) 0.570.710.400.760.55
Asset Turnover Ratio (%) 1.491.612.121.410.92
Current Ratio (X) 1.251.331.581.341.65
Quick Ratio (X) 0.920.840.850.871.34
Inventory Turnover Ratio (X) 8.132.463.603.513.48
Dividend Payout Ratio (NP) (%) 28.2190.6023.4024.5859.38
Dividend Payout Ratio (CP) (%) 13.5444.5319.1919.4940.52
Earning Retention Ratio (%) 71.799.4076.6075.4240.62
Cash Earning Retention Ratio (%) 86.4655.4780.8180.5159.48
Interest Coverage Ratio (X) 3.313.707.228.944.82
Interest Coverage Ratio (Post Tax) (X) 1.942.024.905.583.05
Enterprise Value (Cr.) 8642.6510000.227059.046747.104617.84
EV / Net Operating Revenue (X) 0.510.580.320.520.55
EV / EBITDA (X) 10.2914.714.375.995.33
MarketCap / Net Operating Revenue (X) 0.400.410.240.380.51
Retention Ratios (%) 71.789.3976.5975.4140.61
Price / BV (X) 1.461.531.151.271.28
Price / Net Operating Revenue (X) 0.400.410.240.380.51
EarningsYield 0.030.030.180.140.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Rashtriya Chemicals & Fertilizers Ltd. is a Public Limited Listed company incorporated on 06/03/1978 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L24110MH1978GOI020185 and registration number is 020185. Currently Company is involved in the business activities of Manufacture of urea and other organic fertilizers. Company's Total Operating Revenue is Rs. 16933.64 Cr. and Equity Capital is Rs. 551.69 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
FertilisersPriyadarshini, Eastern Express Highway, Mumbai Maharashtra 400022Contact not found
Management
NamePosition Held
Mr. S C MudgerikarChairman & Managing Director
Dr. Niranjan S SonakDirector - Marketing
Ms. Nazhat J ShaikhDirector - Finance
Ms. Ritu GoswamiDirector - Technical
Mr. Gopinathan Nair AnilkumarIndependent Director
Ms. Sipra BajpaiIndependent Director
Mr. Partha Sarathi GhoshIndependent Director
Prof. Anjula MurmuIndependent Director
Ms. Aparna S SharmaGovernment Nominee Director
Ms. Aneeta C MeshramGovernment Nominee Director

FAQ

What is the intrinsic value of Rashtriya Chemicals & Fertilizers Ltd (RCF) and is it undervalued?

As of 10 April 2026, Rashtriya Chemicals & Fertilizers Ltd (RCF)'s intrinsic value is ₹79.99, which is 31.04% lower than the current market price of ₹116.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.03 %), book value (₹89.2), dividend yield (1.14 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Rashtriya Chemicals & Fertilizers Ltd (RCF)?

Rashtriya Chemicals & Fertilizers Ltd (RCF) is trading at ₹116.00 as of 10 April 2026, with a FY2026-2027 high of ₹167 and low of ₹106. The stock is currently near its 52-week low. Market cap stands at ₹6,388 Cr..

How does Rashtriya Chemicals & Fertilizers Ltd (RCF)'s P/E ratio compare to its industry?

Rashtriya Chemicals & Fertilizers Ltd (RCF) has a P/E ratio of 20.6, 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 Rashtriya Chemicals & Fertilizers Ltd (RCF) financially healthy?

Key indicators for Rashtriya Chemicals & Fertilizers Ltd (RCF): ROCE of 7.49 % is on the lower side compared to the industry average of 13.03%; ROE of 5.03 % is below ideal levels (industry average: 10.58%). Dividend yield is 1.14 %.

Is Rashtriya Chemicals & Fertilizers Ltd (RCF) profitable and how is the profit trend?

Rashtriya Chemicals & Fertilizers Ltd (RCF) reported a net profit of ₹242 Cr in Mar 2025 on revenue of ₹16,934 Cr. Compared to ₹702 Cr in Mar 2022, the net profit shows a declining trend.

Does Rashtriya Chemicals & Fertilizers Ltd (RCF) pay dividends?

Rashtriya Chemicals & Fertilizers Ltd (RCF) has a dividend yield of 1.14 % at the current price of ₹116.00. The company pays dividends, though the yield is modest.

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 Rashtriya Chemicals & Fertilizers Ltd (RCF). 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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