Rashtriya Chemicals & Fertilizers Ltd logo

Rashtriya Chemicals & Fertilizers Ltd

RCF NSE

Key Fundamentals

MicrocapFertilizersChemicals
Market Cap
₹6,750 Cr
Volatility
Moderate
P/E Ratio
14.98
EBITDA
₹939 Cr
Return on Equity
5.11%
Debt to Equity
0.81
Book Value
₹92.83
EPS
₹2.85
52W High
₹164.49
52W Low
₹106

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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31 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 25.9%

Weaknesses

1
  • Company has a low return on equity of 5.80% over last 3 years.

Growth Rate

Revenue Growth
8.08% ↗
Net Income Growth
85.35% ↗
Cash Flow Change
659.79% ↗
ROE
4.50% ↗
ROCE
17.59% ↗
EBITDA Margin (Avg.)
2.04% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 43d ago
AI opinion · based on fundamentals
Risk high

Rashtriya Chemicals & Fertilizers Ltd is a government-owned Navratna fertilizer company trading at a P/E of 17.2 and P/B of 1.43, with a market cap of approximately ₹7,287 crore. The company posted FY25 consolidated revenue of ~₹16,934 crore (9% YoY sales growth) and net profit of ₹242 crore (68% TTM profit growth), but its 3-year compounded profit CAGR remains negative at -24%, reflecting earnings volatility tied to subsidy flows and input costs.

Bull Case 7
  • TTM profit growth of 68% signals a strong recovery in earnings after a period of decline, with FY25 net profit at ₹242 crore
  • Revenue grew 9% YoY in FY25 to ₹16,934 crore, reversing the 3-year compounded sales decline of -5%
  • Navratna PSU status with 75% government promoter holding provides institutional backing and reduces governance risk
  • 10-year compounded sales CAGR of 8% and profit CAGR of 9% demonstrate long-term business durability through commodity cycles
  • ICRA AA (Stable) credit rating affirmed on non-convertible debentures of ₹1,200 crore, indicating strong balance sheet credibility
  • Healthy dividend payout ratio of 25.9% with current dividend yield of 0.75%, providing some income floor for investors
  • FY26 government fertilizer subsidy budget of ~₹1.7 lakh crore supports continued revenue visibility for urea and complex fertilizer sales
Bear Case 8
  • 3-year return on equity of just 5.8% (and 3-year average ROE of 6%) indicates poor capital efficiency relative to equity base of ~₹4,755 crore
  • 3-year compounded profit CAGR of -24% reflects severe earnings erosion despite top-line stability, driven by subsidy delays and gas cost volatility
  • Stock has declined 15% over the past 1 year, underperforming the broader market and reflecting investor skepticism
  • Total debt of approximately ₹2,752 crore against equity, with debt-to-equity around 0.58-0.81, adds interest burden on already thin margins
  • Supreme Court ordered ₹218 crore refund (including interest) to Thermax Ltd, representing a material one-time cash outflow relative to FY25 profit of ₹242 crore
  • 5-year compounded profit CAGR of just 1% despite 17% sales CAGR over the same period shows margin compression and inability to translate revenue into earnings
  • Budget FY26 fertilizer subsidy allocation was lower than FY25 revised estimates, signaling potential fiscal tightening that could pressure receivables
  • Being a PSU, RCF has limited pricing power on urea (government-controlled MRP) and remains dependent on subsidy reimbursement timelines

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 43d ago
Neutral 3
  • Board to consider FPO Jul 7 Jul 1

    RCF board meeting on July 7, 2026 to consider a Further Public Offer of equity shares, subject to shareholder and government approvals. Trading window closed for designated persons since June 25.

  • New Executive Director appointed Jul 1

    Sanjeev Haralikar appointed as Executive Director (Trombay) effective July 1, 2026, replacing Sunetra Kamble who superannuated as ED (Marketing & Commercial) on the same date.

  • NCD interest record date set Jun 20

    Record date of July 17, 2026 fixed for interest payment on Rs.300 Crore NCDs, with payment scheduled for August 7, 2026.

TL;DR: Recent RCF news is purely operational with no clear bullish or bearish catalysts. The potential FPO is the most significant development — it could bring dilution risk if approved but also signals government intent to unlock value. Leadership transition appears routine. Investors should watch the July 7 board outcome for clarity on equity dilution and pricing.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
4,043
4,155
4,904
3,880
4,396
4,290
4,518
3,730
3,371
5,293
4,236
5,581
3,586
Expenses
3,914
4,050
4,819
3,687
4,280
4,088
4,339
3,551
3,213
5,079
3,992
5,258
3,367
Operating Profit
129
105
84
193
116
202
179
178
158
214
244
322
219
OPM %
3.2%
2.5%
1.7%
5%
2.6%
4.7%
4%
4.8%
4.7%
4%
6%
6%
6%
Other Income
58
67
38
44
30
43
43
54
39
51
52
113
35
Interest
39
44
48
52
70
76
53
54
56
55
103
79
71
Depreciation
56
56
56
64
60
62
63
78
66
70
75
80
83
PBT
92
72
17
120
16
106
105
100
75
141
118
276
101
Tax %
26%
29%
35%
21%
34%
26%
24%
28%
28%
25%
31%
32%
28%
Net Profit
68
51
11
95
11
79
80
72
54
105
81
187
74
EPS in Rs
1.23
0.92
0.2
1.73
0.2
1.43
1.45
1.31
0.99
1.91
1.47
3.38
1.33
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
7,694
8,241
7,099
7,255
8,885
9,698
8,281
12,812
21,452
16,981
16,934
18,480
18,695
Expenses
6,840
7,766
6,680
6,986
8,448
9,111
7,527
11,820
19,968
16,461
16,253
17,542
17,696
Operating Profit
853
475
419
268
437
586
754
992
1,483
520
681
938
1,000
OPM %
11%
6%
6%
3.7%
4.9%
6%
9%
8%
7%
3.1%
4%
5%
5%
Other Income
66
81
66
61
104
26
133
263
236
204
169
256
252
Interest
123
147
96
64
157
239
181
130
234
190
259
293
308
Depreciation
263
148
141
137
156
171
175
184
212
233
263
292
308
PBT
533
262
249
128
229
202
530
942
1,273
301
328
609
636
Tax %
35%
35%
28%
39%
42%
-3%
28%
25%
24%
25%
26%
30%
—
Net Profit
346
169
179
79
133
207
384
702
966
225
242
427
447
EPS in Rs
6.27
3.06
3.25
1.43
2.41
3.75
6.96
12.73
17.52
4.08
4.39
7.75
8.09
Div. Payout %
29%
36%
34%
42%
32%
76%
43%
30%
30%
30%
30%
17%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
552
552
552
552
552
552
552
552
552
552
552
552
Reserves
2,165
2,265
2,373
2,378
2,477
2,627
2,800
3,330
4,038
4,054
4,194
4,570
Borrowings
2,000
2,997
1,769
1,331
3,462
4,814
2,079
2,979
1,877
3,297
2,762
4,128
Other Liabilities
1,569
1,858
1,866
2,087
2,452
2,316
2,240
3,698
3,267
3,575
3,772
7,452
Total Liabilities
6,285
7,672
6,559
6,348
8,942
10,309
7,669
10,558
9,734
11,477
11,280
16,701
Fixed Assets
1,552
1,507
1,547
1,910
1,950
2,130
2,182
2,134
2,543
2,558
2,905
3,294
CWIP
62
150
107
152
276
433
406
513
211
431
579
810
Investments
0
49
45
62
80
256
645
935
994
992
1,095
1,380
Other Assets
4,672
5,966
4,860
4,223
6,636
7,490
4,437
6,977
5,986
7,497
6,700
11,216
Total Assets
6,285
7,672
6,559
6,348
8,942
10,309
7,669
10,558
9,734
11,477
11,280
16,701
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
212
-633
1,595
1,078
-1,636
-522
5,211
-592
787
-422
2,364
-471
Investing
-201
-259
-180
-496
-310
-531
-610
-379
-316
-464
-681
-1,299
Financing
3
811
-1,406
-588
1,945
1,052
-3,131
599
-1,560
1,032
-853
908
Net Cash Flow
14
-82
9
-5
-2
-1
1,470
-372
-1,088
145
831
-863
Free Cash Flow
5
-900
1,409
584
-1,934
-948
4,970
-752
402
-840
1,538
-1,545
CFO/OP
54
-111
398
412
-352
-72
706
-38
79
-68
356
-39
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
156
192
187
144
187
171
64
86
44
76
67
93
Inventory Days
101
122
97
90
139
78
82
138
80
95
58
51
Days Payable
60
63
75
82
106
80
91
137
61
71
80
50
Cash Conversion Cycle
198
251
209
151
220
170
55
87
63
101
45
94
Working Capital Days
78
66
83
79
67
54
7
16
35
30
4
27
ROCE %
15%
8%
7%
4%
7%
8%
11%
15%
21%
6%
7%
10%

Shareholding Pattern

As of Jun 2026
Promoters 75.00%
Public 19.65%
Others 2.61%
FIIs 2.43%
DIIs 0.31%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
2.58%
2.40%
2.32%
2.26%
2.46%
2.28%
2.31%
2.50%
2.60%
2.43%
DIIs
1.98%
0.46%
0.30%
0.31%
0.31%
0.30%
0.66%
1.14%
1.16%
0.26%
0.34%
0.26%
0.35%
0.35%
0.29%
0.29%
0.30%
0.31%
0.33%
0.41%
0.39%
0.31%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
19.18%
20.36%
20.28%
20.39%
19.17%
18.96%
18.14%
17.13%
18.32%
19.35%
18.71%
18.37%
18.99%
18.68%
19.49%
19.64%
19.44%
19.73%
19.64%
19.54%
19.43%
19.65%
Others
3.84%
4.18%
4.42%
4.31%
5.53%
5.74%
6.20%
6.74%
5.51%
5.38%
5.95%
6.37%
3.08%
3.57%
2.90%
2.81%
2.80%
2.68%
2.71%
2.55%
2.57%
2.61%
No. of Shareholders
0
2,26,071
2,40,976
2,35,230
2,34,751
2,25,807
2,35,519
2,23,087
2,33,573
2,40,878
2,40,298
2,60,182
2,93,160
3,18,133
3,59,401
3,60,280
3,59,464
3,60,386
3,53,478
3,43,881
3,39,059
3,34,914

Documents

Frequently Asked Questions about Rashtriya Chemicals & Fertilizers Ltd

What does Rashtriya Chemicals & Fertilizers Ltd do?
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]
Where is Rashtriya Chemicals & Fertilizers Ltd (RCF) listed?
Rashtriya Chemicals & Fertilizers Ltd is listed on the Indian stock exchanges. It is listed on NSE: RCF and BSE: 524230. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Rashtriya Chemicals & Fertilizers Ltd belong to?
Rashtriya Chemicals & Fertilizers Ltd operates in the Chemicals sector within the Fertilizers industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Rashtriya Chemicals & Fertilizers Ltd?
Rashtriya Chemicals & Fertilizers Ltd has a market capitalisation of approximately ₹6749.90 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Rashtriya Chemicals & Fertilizers Ltd?
The Price-to-Earnings (PE) ratio of Rashtriya Chemicals & Fertilizers Ltd is 14.98. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Rashtriya Chemicals & Fertilizers Ltd?
Over the past 52 weeks, Rashtriya Chemicals & Fertilizers Ltd has traded between a low of ₹106 and a high of ₹164.49. This range helps investors understand the stock's price volatility and recent trading levels.
Does Rashtriya Chemicals & Fertilizers Ltd pay dividends?
Yes, Rashtriya Chemicals & Fertilizers Ltd has a dividend yield of 0.81%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Rashtriya Chemicals & Fertilizers Ltd?
Rashtriya Chemicals & Fertilizers Ltd has a Return on Equity (ROE) of 5.11%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Rashtriya Chemicals & Fertilizers Ltd on Tapetide?
On Tapetide, you can view Rashtriya Chemicals & Fertilizers Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website rcfltd.com
Listed 1998-01-07
Face Value ₹ 10
Issued Size 55,16,88,100

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