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Rashtriya Chemicals & Fertilizers Ltd

NSE: RCF BSE: 524230

Rashtriya Chemicals & Fertilizers is a public sector undertaking (PSU) with 75% stake owned by GOI. Company is engaged in manufacturing and marketing of fertilizers and industrial chemicals.[1]

₹122
52W: ₹106 — ₹167
PE 21.7 · Book ₹89.3 · +37% vs book
Market Cap₹6,753 Cr
Stock P/E21.7Price to Earnings
ROCE7.47%Return on Capital
ROE5%Return on Equity
Div. Yield1.09%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 30.1%

Weaknesses

  • −The company has delivered a poor sales growth of 11.8% over past five years.
  • −Company has a low return on equity of 9.81% over last 3 years.

Shareholding Pattern

Promoters75%
FIIs2.6%
DIIs0.39%
Public22%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75%75%75%75%75%75%75%75%
FIIs2.4%2.32%▼0.12.26%▼0.12.46%▲0.22.28%▼0.22.31%▲0.02.5%▲0.22.6%▲0.1
DIIs0.35%0.29%▼0.10.29%0.3%▲0.00.31%▲0.00.33%▲0.00.41%▲0.10.39%▼0.0
Public22.25%22.39%▲0.122.45%▲0.122.24%▼0.222.41%▲0.222.36%▼0.122.08%▼0.322%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales4,1554,9043,8804,3964,2904,5183,7303,3715,2934,236
Expenses4,0494,8193,6844,2804,0884,3393,5513,2135,0783,992
Operating Profit10684195116202179178158214245
OPM %3%2%5%3%5%4%5%5%4%6%
Net Profit521098117980735410681
EPS ₹0.940.191.770.191.421.441.320.981.921.47

AI Insights

Revenue Trend

TTM revenue at ₹16,629Cr, down 1.8% YoY. OPM at 5%.

Debt Position

Borrowings at ₹2,778Cr. Debt-to-equity ratio: 0.63x. Moderate leverage.

Capex Cycle

CWIP at ₹737Cr (24% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.39% (+0.04pp change). FIIs: 2.6% (+0.33pp change). Promoters hold 75%.

Margin & Efficiency

ROCE declining from 12% (Mar 2014) to 7% (Mar 2025). Working capital days: 4.

Valuation

PE 21.7x with 7.47% ROCE. Price is 37% above book value of ₹89.3. Dividend yield: 1.09%.

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