Rashtriya Chemicals & Fertilizers Ltd logo

Rashtriya Chemicals & Fertilizers Ltd

RCF NSE

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]

AI Verdict: HOLD Confidence: 4%

RCF trades at a PE of 16.5x with a modest 6% 3-year ROE and erratic profit growth. While TTM profit growth of 68% signals a cyclical recovery, the stock has declined 20% over the past year and long-term return ratios remain underwhelming for a capital-intensive fertilizer company.

Key Fundamentals

MicrocapFertilizersChemicals
Market Cap
₹7,387 Cr
Volatility
Moderate
P/E Ratio
17.11
EBITDA
₹939 Cr
Return on Equity
21.05%
Debt to Equity
0.65
Book Value
₹92.83
EPS
₹2.85
52W High
₹164.49
52W Low
₹106

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 20d ago
HOLD
Risk high

RCF trades at a PE of 16.5x with a modest 6% 3-year ROE and erratic profit growth. While TTM profit growth of 68% signals a cyclical recovery, the stock has declined 20% over the past year and long-term return ratios remain underwhelming for a capital-intensive fertilizer company.

Bull Case 7
  • TTM compounded profit growth of 68% indicates a strong cyclical earnings recovery from a low base
  • 10-year stock CAGR of 11% demonstrates reasonable long-term wealth creation for a PSU fertilizer company
  • PE of 16.5x is reasonable for a commodity cyclical with improving earnings trajectory
  • Price-to-book of 1.38x offers relatively inexpensive entry for a company with significant land and plant assets
  • Healthy dividend payout ratio of 25.9% provides income support during volatile periods
  • 5-year compounded sales growth of 17% reflects strong top-line expansion driven by fertilizer demand and subsidy disbursements
  • TTM sales growth of 9% shows continued revenue momentum even as commodity prices normalize
Bear Case 8
  • 3-year ROE of just 6% (and screener-reported 5.80%) is well below cost of equity, indicating poor capital efficiency
  • Stock has delivered -20% returns over the past 1 year, signaling sustained negative sentiment
  • 3-year compounded profit CAGR of -24% reflects severe earnings deterioration over a meaningful period
  • 3-year compounded sales growth of -5% suggests revenue contraction as fertilizer subsidy dynamics shifted
  • 5-year compounded profit CAGR of only 1% shows negligible earnings growth over a full business cycle
  • Dividend yield of just 0.78% offers minimal income cushion relative to risk-free alternatives above 7%
  • Zero analyst coverage means no institutional oversight or independent earnings estimates to anchor valuation
  • As a PSU, RCF remains subject to government subsidy policy changes and pricing controls that cap upside

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

AI News Digest

Anthropic anthropic claude-opus-4.6 20d ago
Headwinds 1
  • SEBI non-compliance fine by exchanges May 28

    NSE and BSE each fined RCF Rs 5.31 lakh for non-compliance with Regulation 17(1) of SEBI LODR for Q4FY26. Notices received May 27, 2026; company plans to apply for waiver.

Neutral 2
  • Board meeting for Q4/FY26 results May 14

    RCF scheduled Board meeting on May 21, 2026 to approve audited financial results for Q4 and FY26, and consider final dividend recommendation.

  • Three Independent Directors cease tenure May 9

    Gopinathan Nair Anilkumar, Anjula Murmu, and Partha Sarathi Ghosh ceased as Independent Directors effective May 9, 2026, creating board vacancies.

TL;DR: RCF faces a governance overhang with SEBI LODR non-compliance fines and the simultaneous departure of three Independent Directors, which likely triggered the Regulation 17(1) breach. There are no visible positive catalysts in recent news. The trend is deteriorating on the governance front, and investors should watch whether the company secures the waiver and fills board vacancies promptly.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
4,684
4,043
4,155
4,904
3,880
4,396
4,290
4,518
3,730
3,371
5,293
4,236
5,581
Expenses
4,499
3,914
4,050
4,819
3,687
4,280
4,088
4,339
3,551
3,213
5,079
3,992
5,258
Operating Profit
185
129
105
84
193
116
202
179
178
158
214
244
322
OPM %
4%
3%
3%
2%
5%
3%
5%
4%
5%
5%
4%
6%
6%
Other Income
116
58
67
38
44
30
43
43
54
39
51
52
113
Interest
44
39
44
48
52
70
76
53
54
56
55
103
79
Depreciation
59
56
56
56
64
60
62
63
78
66
70
75
80
PBT
197
92
72
17
120
16
106
105
100
75
141
118
276
Tax %
19%
26%
29%
35%
21%
34%
26%
24%
28%
28%
25%
31%
32%
Net Profit
160
68
51
11
95
11
79
80
72
54
105
81
187
EPS in Rs
2.89
1.23
0.92
0.2
1.73
0.2
1.43
1.45
1.31
0.99
1.91
1.47
3.38
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
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
Operating Profit
853
475
419
268
437
586
754
992
1,483
520
681
938
OPM %
11%
6%
6%
4%
5%
6%
9%
8%
7%
3%
4%
5%
Other Income
66
81
66
61
104
26
133
263
236
204
169
256
Interest
123
147
96
64
157
239
181
130
234
190
259
293
Depreciation
263
148
141
137
156
171
175
184
212
233
263
292
PBT
533
262
249
128
229
202
530
942
1,273
301
328
609
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
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
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 Mar 2026
Promoters 75.00%
Public 19.43%
FIIs 2.60%
Others 2.57%
DIIs 0.39%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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%
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%
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%
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%
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%
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%
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

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 Commodities sector within the Fertilizers & Agrochemicals 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 ₹7387.10 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 17.11. 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 0.75%. 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 21.05%. 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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