Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) has delivered a steady performance for the quarter ended December 31, 2025, reporting a net profit of Rs. 150 crore on a standalone basis, backed by firm revenues and controlled expenses.

 

Revenue from operations for the third quarter stood at Rs. 1,996 crore, slightly higher than ₹1,968 crore in the previous quarter. Total income came in at Rs. 2,093 crore.

 

Profit before tax for the quarter was Rs. 204 crore, while net profit after tax stood at Rs. 150 crore. Earnings per share (EPS) for the quarter was Rs. 10.20.

 

For the nine months ended December 31, 2025, GNFC posted a robust net profit of Rs. 405 crore, compared with Rs. 375 crore in the corresponding period last year. Total income for the nine-month period rose to Rs. 5,939 crore, underscoring stable operational momentum.

 

On a consolidated basis, GNFC reported net profit of Rs. 150 crore for the December quarter, with revenue from operations at Rs. 1,996 crore and total income at Rs. 2,093 crore.

 

For the nine-month period, consolidated net profit rose to Rs. 412 crore, compared with Rs. 386 crore in the same period last year. Consolidated total income stood at Rs. 5,939 crore.

 

Earnings per share on a consolidated basis for the quarter was Rs. 10.20, while nine-month EPS stood at Rs. 28.03.

 

During the quarter, raw material costs were Rs. 1,047 crore, while power, fuel and utility expenses stood at Rs. 399 crore. Employee benefit expenses were Rs. 134 crore. Total expenses for the quarter were Rs. 1,889 crore.

 

For the nine months, total expenses stood at Rs. 5,400 crore against total income of Rs. 5,939 crore, resulting in a profit before tax of Rs. 539 crore.

 

GNFC’s paid-up equity share capital remains at Rs. 147 crore.

 

The results reflect consistent operational execution amid a dynamic market environment, with the company maintaining profitability and stable margins through the financial year so far.

 

Commenting on the results, Rajkumar Beniwal, Managing Director stated that it gives me pleasure in sharing results for Q 3 FY 25-26.

During Q-o-Q Q 3, Revenue is improved mainly due to higher volume in chemical products. Result is lower due to lower other income and lower realizations offset by lower input costs and higher volumes. During Y-o-Y Q 3, Revenue is improved mainly due to higher volume in chemical products.

Result is marginally lower due to lower other income partially offset by better-input costs and realizations. Y-o-Y 9M, Revenue & Result are not comparable due to annual turnaround at Bharuch Complex in current 9 M and at Dahej Complex in Previous 9 M.

The change in other comprehensive income is attributable to change in the fair market value of both quoted and unquoted investments as well as actuarial assumptions of employee benefit obligations.

GoI’s outstanding support on release of fertilizer subsidy has kept the working capital levels low to that extent with resultant improved cash flow.

The revision in both energy and fixed cost is being pursued with the Government and it is expected that announcement in this regard is likely by June-26.”

Segment Revenue:

On Q-o-Q Q-3, Fertilizer Segment revenue decreased mainly due to decrease in volume whereas Chemical Segment revenue increased mainly due to increase in volume partially offset by decrease in realization.

On Y-o-Y Q-3, Fertilizer Segment revenue increased mainly due to increase in realization partially offset by decrease in volume and Chemical Segment revenue increased mainly due to increase in volume partially offset by decrease in realization.

Segment Results:

During Q-o-Q Q-3, Fertilizer Segment loss decreased mainly due to lower realization during Q 2 FY 25-26. The performance is marginally decreased in Chemical Segment mainly due to decrease in realization and decrease in other operating income partially offset by increase in volume and decrease in input cost.

On Y-o-Y Q-3, Fertilizer Segment loss decreased mainly due to increase in realization and decrease in input cost partially compensated by increase in fixed cost. The performance is decreased in chemical Segment mainly due to decrease in realization.