National Fertilizers Limited

Key Financial Figures - Standalone (₹ Lakhs)

Quarter Ended 30-09-2026:

  • Revenue from Operations: 581,394
  • Other Income: 2,385
  • Total Income: 583,779
  • Total Expenses: 585,387
  • Loss Before Tax: (1,608)
  • Tax Expense: (170) [Current Tax: (279), Deferred Tax: 109]
  • Net Loss: (1,438)
  • Total Comprehensive Income: (1,384)
  • Basic EPS: (0.29)
  • Diluted EPS: (0.29)

Quarter Ended 30-06-2026:

  • Net Profit: 7,091
  • Basic EPS: 1.45

Half Year Ended 30-09-2026:

  • Revenue from Operations: 1,031,433
  • Other Income: 3,529
  • Total Income: 1,034,962
  • Total Expenses: 1,027,036
  • Profit Before Tax: 7,926
  • Tax Expense: 2,273 [Current Tax: 2,197, Deferred Tax: 76]
  • Net Profit: 5,653
  • Total Comprehensive Income: 5,761
  • Basic EPS: 1.15
  • Diluted EPS: 1.15

Comparative Figures (Year Ended 31-03-2026):

  • Net Profit: 16,965
  • Basic EPS: 3.46

Key Financial Figures - Consolidated (₹ Lakhs)

Quarter Ended 30-09-2026:

  • Share of Profit from Joint Ventures: 2,050
  • Profit Before Tax: 442
  • Net Profit: 612
  • Total Comprehensive Income: 666
  • Basic EPS: 0.12
  • Diluted EPS: 0.12

Quarter Ended 30-06-2026:

  • Share of Profit from Joint Ventures: 4,247
  • Net Profit: 11,338
  • Basic EPS: 2.31

Half Year Ended 30-09-2026:

  • Share of Profit from Joint Ventures: 6,297
  • Profit Before Tax: 14,223
  • Net Profit: 11,950
  • Total Comprehensive Income: 12,058
  • Basic EPS: 2.44
  • Diluted EPS: 2.44

Comparative Figures (Year Ended 31-03-2026):

  • Net Profit: 21,149
  • Basic EPS: 4.31

Key Notes from Auditors' Review Report

Emphasis of Matter - Standalone:

1. Subsidy income of ₹19,891 lakhs (₹1,341 lakhs during Q1) recognized on sale of closing stock of DAP and TSP during H1, based on operational guidelines from Department of Fertilizers (letters dated 05.01.2026 and 29.05.2026)

2. Subsidy income of ₹11,700 lakhs recognized for period 01.04.2025 to 31.03.2026 for fixation of New Energy Norms applicable from 01.04.2025 to 31.03.2028

Emphasis of Matter - Consolidated:

1. Same subsidy recognition as standalone (₹19,891 lakhs)

2. Restatement of financial statements of AVFCCL (Joint Venture) for FY 2025-26

3. AVFCCL's review report contains emphasis of matters for retrospective correction of prior period errors:

  • Expenditure of ₹2,618.44 lakhs previously capitalized under CWIP charged to P&L
  • Reversal of excess provision of ₹8.75 lakhs
  • Corrections relating to lease liability classification

4. Same New Energy Norms subsidy recognition as standalone (₹11,700 lakhs)

Segment-wise Performance (Standalone - ₹ Lakhs)

Q2 Revenue Breakdown:

  • Manufactured Fertilizers: 438,560
  • Manufactured Chemicals: 8,657
  • Traded Imported Fertilizers: 74,495
  • Others: 64,198
  • Elimination: (4,516)

H1 Revenue Breakdown:

  • Manufactured Fertilizers: 826,927
  • Manufactured Chemicals: 16,072
  • Traded Imported Fertilizers: 97,780
  • Others: 95,451
  • Elimination: (4,797)

Credit Ratings

Commercial Papers:

  • ICRA: A1+
  • India Rating & Research: IND A1+

Long Term Bank Lines:

  • ICRA: AA/Stable
  • India Rating & Research: IND AA/Stable

Short Term Bank Lines:

  • ICRA: A1+
  • India Rating & Research: IND A1+

Additional Information

  • No commercial papers outstanding as of 30.09.2026
  • Final dividend of ₹1.04 per share approved for FY 2025-26, paid in October 2026
  • Related party transactions with joint ventures disclosed amounting to ₹34,043.76 lakhs
  • Board meeting held on November 11, 2026 from 3:30 PM to 4:42 PM at Noida
  • Results reviewed by joint statutory auditors: Dassani & Associates LLP and N.K. Bhargava & Co.

Financial Position (Standalone as of 30.09.2026)

  • Total Assets: ₹15,54,704 lakhs
  • Equity Share Capital: ₹49,058 lakhs
  • Reserves: ₹2,36,317 lakhs
  • Total Borrowings: ₹4,56,378 lakhs (current)
  • Cash & Bank Equivalents: ₹6,329 lakhs

Cash Flow (Standalone H1)

  • Net Cash from Operating Activities: (₹19,181) lakhs
  • Net Cash from Investing Activities: (₹19,906) lakhs
  • Net Cash from Financing Activities: ₹39,898 lakhs
  • Net Increase in Cash: ₹811 lakhs