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Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) investor relations material
Gujarat Narmada Valley Fertilizers and Chemicals Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Standalone Q2 revenue was ₹2,773 crore, PBT ₹241 crore and PAT ₹185 crore; revenue and profit rose YoY but fell QoQ.
Higher volumes supported Q2 revenue, while lower chemical realizations, higher fixed and input costs, coal costs and wage provisions pressured QoQ results.
H1 standalone revenue was ₹5,011 crore, PBT ₹657 crore and PAT ₹495 crore; YoY comparisons are affected by the prior-year Bharuch turnaround.
Consolidated Q2 PAT was ₹194 crore, including ₹9 crore share of associate profit; H1 consolidated PAT was ₹506 crore.
Financial highlights
Q2 revenue from operations was ₹2,773 crore versus ₹1,968 crore YoY; total income was ₹2,901 crore versus ₹2,095 crore.
Q2 PBT was ₹241 crore versus ₹230 crore YoY and ₹416 crore QoQ; PAT was ₹185 crore versus ₹177 crore YoY and ₹310 crore QoQ.
Q2 one-time impacts were net adverse ~₹75 crore across energy norms, freight claims and wage settlement; wage-related accruals may continue.
H1 CapEx was ~₹500 crore; property, plant and equipment purchases, including CWIP and advances, were ₹332 crore.
Outlook and guidance
No forecasts or guidance are provided on future results or business outlook; near-term focus remains operations, cost optimization and protecting margins amid market volatility.
Longer-term priorities include value-added products, efficient operations and adding meaningful products to the pipeline; project studies and reports are expected during FY27.
Most projects are broadly on schedule; one project was delayed three months, with a recovery plan agreed with the turnkey contractor.
Complex-fertilizer nutrient-based subsidy rates effective from the Rabi season were awaited.
- Net profit declined 67% to ₹484.79 crore on a 22% revenue drop, with major share buyback completed.GNFC
Q4 23/24 - Q1 revenue rose on better realizations, but profit fell; chemicals outperformed fertilizers.GNFC
Q1 26/27 - Q4 FY 2025-26 delivered higher profits, a ₹21 dividend, and strong chemical segment growth.GNFC
Q4 25/26 - Q3 FY26 revenue grew on chemical volumes, but profit fell due to lower other income.GNFC
Q3 25/26 - Profit growth, capex expansion, and policy support; DoT litigation risk persists.GNFC
Q2 25/26 - Q1 FY25 revenue rose 22% YoY to ₹2,021 crore, with net profit up 35% to ₹115 crore.GNFC
Q1 24/25 - Q2 FY25 profit declined on chemical segment weakness, but outlook improves with full plant operations.GNFC
Q2 24/25 - Q3 FY25 net profit rose on better chemical volumes and lower costs; major capex and DoT risk noted.GNFC
Q3 24/25 - Profit and margin growth in FY25, strong cash flow, ₹18/share dividend recommended.GNFC
Q4 24/25
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