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Swing Capital

Gujarat State Fertilizers & Chemicals Ltd

NSE: GSFC BSE: 500690

Incorporated in 1962, Gujarat State Fertilizers & Chemicals Ltd is a public sector company promoted by the Government of Gujarat. It is engaged in manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres [1]

₹168
52W: ₹139 — ₹221
PE 9.91 · Book ₹309 · -46% vs book
Market Cap₹6,677 Cr
Stock P/E9.91Price to Earnings
ROCE6.12%Return on Capital
ROE4.68%Return on Equity
Div. Yield2.92%Face Value ₹2

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Stock is trading at 0.54 times its book value
  • +Company has been maintaining a healthy dividend payout of 32.0%

Weaknesses

  • −The company has delivered a poor sales growth of 4.35% over past five years.
  • −Company has a low return on equity of 6.57% over last 3 years.
  • −Earnings include an other income of Rs.294 Cr.

Shareholding Pattern

Promoters37.84%
FIIs12.35%
DIIs7.3%
Public36.83%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%
FIIs13.31%12.6%▼0.711.81%▼0.811.83%▲0.011.64%▼0.212.29%▲0.611.9%▼0.412.35%▲0.4
DIIs4.9%5.87%▲1.06.06%▲0.27.48%▲1.47.34%▼0.17.81%▲0.57.28%▼0.57.3%▲0.0
Public38.3%38.05%▼0.338.63%▲0.637.21%▼1.437.51%▲0.336.4%▼1.137.32%▲0.936.83%▼0.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales3,0171,9431,9402,1442,6232,7551,9072,1723,1402,894
Expenses2,8021,8401,9152,0262,3342,6061,8331,9712,8062,717
Operating Profit2151042511728914973201333177
OPM %7%5%1%5%11%5%4%9%11%6%
Net Profit285112219330311958140320157
EPS ₹7.152.810.532.327.631.473.518.033.94

AI Insights

Revenue Trend

TTM revenue at ₹10,112Cr, up 7.2% YoY. OPM at 8%.

Debt Position

Borrowings at ₹1Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹413Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 7.3% (+4.73pp change). FIIs: 12.35% (-8.19pp change). Promoters hold 37.84%.

Margin & Efficiency

ROCE declining from 10% (Mar 2014) to 6% (Mar 2025). Working capital days: 94.

Valuation

PE 9.91x with 6.12% ROCE. Price is -46% above book value of ₹309. Dividend yield: 2.92%.

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