Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has announced its unaudited financial results for the second quarter and half year ended September 30, 2026. The company reported a Profit Before Tax (PBT) of ₹241 crore and a Profit After Tax (PAT) of ₹185 crore for the second quarter. For the half year, PBT stood at ₹657 crore and PAT at ₹495 crore, indicating strong financial performance.
GNFC Declares Strong Quarterly Financial Results
Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) has announced its unaudited financial results for the quarter and half year ended September 30, 2026. The company’s Board of Directors approved these results, highlighting a robust financial performance for the period.
Key Financial Highlights (Standalone)
Quarter Ended September 30, 2026
- Operating Revenue: ₹2,773 crore
- Total Revenue: ₹2,901 crore
- Profit Before Tax (PBT): ₹241 crore
- Profit After Tax (PAT): ₹185 crore
Half Year Ended September 30, 2026
- Operating Revenue: ₹5,011 crore
- Total Revenue: ₹5,240 crore
- Profit Before Tax (PBT): ₹657 crore
- Profit After Tax (PAT): ₹495 crore
Performance Commentary
The company noted that for Q-o-Q Q2, revenue increased mainly due to higher volume across most products, partially offset by lower realization. The decrease in profit was attributed to lower realization and higher fixed costs, offset by higher volume. For Year-over-Year Q2, revenue growth was driven by higher realizations and volumes, with a marginal increase in profit due to higher realization and volume, offset by input costs and fixed costs. The Year-over-Year H1 revenue and PBT are noted as not comparable due to an annual turnaround in the Bharuch complex during H1 FY 25-26.
Segment Performance Overview
The Fertilizer segment revenue saw an increase in Q2 on a quarter-on-quarter basis due to higher realization and volume, while the Chemical segment revenue increased due to higher realization, partially offset by lower volume. On a year-over-year basis for Q2, both Fertilizer and Chemical segments showed increased revenue driven by higher realization and volume.
In terms of segment results for Q2, the Fertilizer segment loss decreased due to positive impacts from revised urea energy norms and lower input costs, offset by higher fixed costs. The Chemical segment’s performance was lower primarily due to reduced realization and higher fixed costs, offset by higher volume. For Y-o-Y Q2, Fertilizer segment losses marginally increased due to higher input and fixed costs, while the Chemical segment showed improved performance driven by higher realization and volumes.
Balance Sheet Highlights
As of September 30, 2026, Total Assets stood at ₹11,937 crore. Key components include Net Fixed Assets of ₹3,314 crore, Investments at ₹1,260 crore, and Bank Deposits at ₹1,805 crore. Total Liabilities were ₹11,937 crore, with Net Worth at ₹9,183 crore.
Cash Flow Statement Summary
For the six months ended September 30, 2026, the net cash generated from operating activities was ₹141 crore. Investing activities used net cash of ₹3 crore, while financing activities used net cash of ₹310 crore. The closing balance of cash and cash equivalents was ₹(98) crore.
Future Outlook and Projects
GNFC is exploring expansion plans including Ammonia Expansion in Bharuch and New CFBC Steam Boiler. Projects under consideration include Bisphenol-A (BPA) and Polyols in Dahej. The company is focused on protecting margins and meeting customer demand amid turbulent times, with a long-term focus on top-line and margin enhancement through value-added products.
Source: BSE
