GNFC’s Board of Directors approved the Unaudited Standalone and Consolidated Financial Results for the third quarter and nine months ending December 31, 2025. The board also approved the appointments of Shri Rajkumar Beniwal, IAS, as Additional Director and Managing Director (KMP), and Dr. Rajender Kumar, IAS, as an Additional Director, both subject to shareholder approval. Additionally, the policy on Related Party Transactions was revised.
Board Meeting Outcomes and Financial Results
The Board of Directors of Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) met on February 10, 2026, to finalize several key items. Primarily, the Board approved the Unaudited Standalone and Consolidated Financial Results for the third quarter and the nine months ended December 31, 2025, along with the Limited Review Report from the Statutory Auditors.
The Board Meeting commenced at 03:00 PM (IST) and concluded at 05:20 PM (IST).
Key Management Appointments Approved
The Board formally approved the appointment of two key personnel, both contingent upon subsequent shareholder ratification:
- Shri Rajkumar Beniwal, IAS (DIN: 07195658), appointed as an Additional Director and designated as the Managing Director (KMP) of the Company.
- Dr. Rajender Kumar, IAS (DIN: 07161855), appointed as an Additional Director on the Board of Directors.
Furthermore, the notice for seeking shareholder approval via Postal Ballot for both appointments was also approved.
Policy Revision and Disclosure
The directors also considered and approved the revision in the Related Party Transaction Policy. In compliance with listing requirements, the Unaudited Financial Results and the related Press Release were enclosed.
Standalone Financial Highlights (₹ Crores)
For the quarter ended December 31, 2025 (Q3 FY 25-26), the standalone results showed a Profit Before Tax (PBT) of ₹204 Crores, compared to ₹211 Crores in Q3 FY 24-25. The Net Profit After Tax (PAT) stood at ₹150 Crores, against ₹158 Crores in the corresponding quarter last year. For the nine months (9M) ended December 31, 2025, PBT reached ₹539 Crores, and PAT was ₹405 Crores.
Segment Performance Overview
The management commentary highlighted that for Q-o-Q Q3, Chemical Segment revenue increased due to higher volume, partially offset by realization. For the Y-o-Y Q3 comparison, revenue improved due to higher chemical volumes, though results were marginally lower due to reduced other income. Operational performance was impacted as the 9M results are not comparable year-over-year due to annual turnarounds at the Bharuch and Dahej Complexes.
The Fertilizer Segment loss decreased in Q-o-Q Q3 due to lower realization in Q2 FY 25-26, while Y-o-Y Q3 benefited from increased realization and decreased input costs.
Capex and Future Roadmap
The company provided an update on its Expansion Plans, noting that projects under execution—including the Coal Based Steam & Power Plant (CCPP) at Dahej—are on track to add to the top and bottom line organically.
The Phase-II strategic exercise is underway, with a market study and Detailed Project Report (DPR) expected to be completed by the end of the current calendar year. The company also noted that the revision in energy and fixed costs is being pursued with the Government, with an expected announcement by June-26.
Auditor’s Review and AGR Matter
The statutory auditors confirmed that their review provided moderate assurance over the interim results. The review report directs attention to Note 3 regarding the outstanding demand notice from the Department of Telecommunications (DoT) concerning license fees, amounting to ₹21,370 Crores (including interest and penalty). Based on legal assessment, management currently believes no provision is required for this matter at this time.
Source: BSE
