Employees: 4,870
Size Gujarat Narmada Valley Fertilizers & Chemicals (GNFC.NS) is an India Materials company (Chemicals: Specialty) with a market value of $703M, the 718th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹451.80 on 6 Nov 2026.
Performance Over six months the shares fell 9.8%, against -23.8% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 22.5% over the last twelve months (peer median +12.4%); the operating margin is 10.3% (peer median 4.9%).
Valuation It trades at 0.5× enterprise value to sales against a peer median of 1.9× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.5 points below its cost of capital (18.3% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹92.2B | ₹57.9B | ₹57.8B | ₹57.1B | ₹72.6B |
| Revenue growth | — | 0% | +1% | -21% | — |
| Gross profit | ₹17.9B | -₹10.7B | -₹13.8B | -₹15.6B | -₹9.64B |
| EBITDA | ₹12.6B | -₹10.2B | -₹14.0B | -₹16.2B | -₹9.99B |
| Net income | ₹10.5B | ₹8.09B | ₹5.98B | ₹4.97B | ₹14.7B |
| Free cash flow | n/a | ₹4.57B | ₹4.46B | ₹1.57B | ₹13.8B |
| Capital expenditure | n/a | ₹5.46B | ₹4.53B | ₹2.51B | ₹1.73B |
| Total debt | ₹1.13B | ₹53.9M | ₹1.06B | ₹27.3M | ₹19.8M |
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| Measure | GNFC.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -26.9% | -12.0% | lowest of 21 |
| 6-month return | -9.8% | -23.8% | 6th highest of 20 |
| Distance from 52-week high | -29.0% | -43.9% | 5th highest of 21 |
| Revenue growth (TTM) | +22.5% | +12.4% | 7th highest of 21 |
| Operating margin | 10.3% | 4.9% | 5th highest of 20 |
| EV / Sales | 0.5× | 1.9× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 4.4% | 24.1% | 3rd least demanding of 9 |
| Growth delivered (Del g) | +7.2% | +9.8% | 2nd lowest of 8 |
| Hurdle (Req g minus delivered) | -2.8 pp | +4.9 pp | 3rd least demanding of 8 |
| ROIC minus cost of capital | -8.5 pp | -2.7 pp | 6th lowest of 19 |
| EV / EBITDA | 3.6× | 12.2× | 2nd cheapest of 6 |
| Net debt / EBITDA | -1.6× | 0.7× | 2nd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Gujarat Narmada Valley Fertilizers & Chemicals GNFC.NS | India | $703M | -10% | +22% | 10% | 0.5× | 4.4% | +7.2% |
| Ningbo Runhe High-Tech Materials 300727.SZ | China | $695M | -32% | +18% | 5% | 2.8× | 33.7% | +14.6% |
| Liaoning Xinde New Material Technology 301349.SZ | China | $711M | -20% | +63% | 7% | 2.2× | n/a | n/a |
| Jiangsu Lopal Tech 2465.HK | Hong Kong | $694M | -67% | +107% | 7% | 0.9× | n/a | n/a |
| Orinko Advanced Plastics 688219.SS | China | $714M | -23% | +13% | 2% | 1.0× | 14.4% | +9.5% |
| Zhejiang Jiaao Enprotech Stock 603822.SS | China | $718M | -19% | +101% | 19% | 1.6× | -7.5% | +31.6% |
| DL 000210.KS | South Korea | $718M | -37% | +5% | 10% | 0.2× | n/a | n/a |
| Hangzhou Grascent 301688.SZ | China | $720M | n/a | +12% | n/a | 4.2× | 47.1% | n/a |
| Yuanli Chemical 603217.SS | China | $720M | -25% | +8% | 10% | 1.9× | n/a | n/a |
| Malion New Materials 300586.SZ | China | $720M | -42% | +4% | -4% | 3.6× | n/a | n/a |
| Societe Explosifs et Produits Chimiques EXPL.PA | France | $684M | +4% | +13% | 7% | 1.2× | 7.7% | +9.8% |
| Shanghai Allied Industrial 301419.SZ | China | $723M | +10% | +19% | 14% | 9.0× | n/a | n/a |
| Kornit Digital KRNT | United States | $724M | +4% | +4% | -17% | 1.4× | 36.2% | +0.9% |
| Cybrid Technologies 603212.SS | China | $725M | -19% | -9% | -7% | 2.2× | n/a | n/a |
| Anhui Estone Materials Technology 688733.SS | China | $676M | -25% | +44% | -5% | 6.9× | n/a | n/a |
| Lightwave Logic LWLG | United States | $673M | -73% | +165% | -9,688% | 2,315.8× | n/a | n/a |
| Sino-High (China) 301076.SZ | China | $736M | -24% | +4% | 14% | 9.3× | 43.8% | +9.1% |
| Hebei Cangzhou Dahua 600230.SS | China | $738M | -36% | -1% | 4% | 1.1× | -0.4% | +22.6% |
| Westlake Chemical Partners LP WLKP | United States | $747M | -9% | +9% | 29% | 1.1× | n/a | n/a |
| Waga Energy WAGA.PA | France | $659M | -3% | +7% | -20% | n/a | n/a | n/a |
| Shandong Longhua New Material 301149.SZ | China | $751M | -39% | +33% | 2% | 0.8× | n/a | n/a |