Gujarat Narmada Valley Fertilizers & Chemicals Ltd. · NSE:GNFC
Gujarat Narmada Valley Fertilizers & Chemicals — Q4 FY2024-25 Earnings Presentation
43 slides from Gujarat Narmada Valley Fertilizers & Chemicals's earnings presentation, May 23, 2025
Slide 1: Stock exchange cover letter on investor presentation
NO. SEC/BD/SE/ May 23, 2025 Dy. General Manager Dy. General Manager BSE Limited Listing Department Corporate Relationship Dept., National Stock Exchange of India Limited 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Bldg, PJ Tower, C-1, Block - "G", Dalal Street, Fort, Bandra Kurla Complex, B
Slide 2: Investor Presentation – Conference Call – Q4 FY 24-25
Gujarat Narmada Valley Fertilizers & Chemicals Ltd INVESTOR PRESENTATION – CONFERENCE CALL – Q4 FY 24-25
Slide 3: Cautionary Note - Forward Looking Statement
Cautionary Note - Forward Looking Statement Only matters in the public domain can be subject matter of discussion in this meeting. As a matter of policy, we do not provide any forecast about the future business situation. We do not comment or give guidance on future results or business outlook
Slide 4: Agenda
01 Corporate Overview 02 Financial Performance 03 Feedstock Spread 04 Capex Plan 05 Supplementary
Slide 5: Corporate Overview
01 Corporate Overview
Slide 6: The Journey
The Journey Formic ANP, WNA 1 and Syn-Gas generation Ammonia- Concentrated CAN 1 Urea Acid 1991 1995 unit for Methanol 1998 Nitric Acid 2 1985 Aniline & Toluene 1982 Methanol - I 1989 Methanol - II 1991 Acetic 1998 1999 Di-isocyanate 1 Acid Millions of 2450+ 100 % + Farmers served ≈ $1 bn Employees
Slide 7: Applications of Major Chemical Products
Applications of Major Chemical Products No. Product Major Applications 1 Toluene Di – Isocyanate Flexible PU, Mattresses, Car Seating, Adhesives, Elastomers, Coatings 2 AN Melt Explosives, Insecticides, Pyrotechniques 3 Acetic Acid Ethyl Acetate, Acetic Anhydride, PTA, Agrochemicals, VAM 4 Ethyl Ace
Slide 8: Key Business Updates
Uniqueness Key Business Updates Fertilizers: • Nutrient Based Subsidy announced for period from 1st April-25 to Sept-25. GoI has favourably considered the long pending revision. • The energy norms as well as fixed costs revisions are expected by Q-2 FY 25-26 • Pipeline inventories are less than hist
Slide 9: Uniqueness
Uniqueness Uniqueness Never lost a single man-day on account of labour discord Absorbed state-of-the art complex technologies from leading technology providers across the globe Only company in India to produce Oil based Ammonia Largest producer of Formic Acid in India. One of the top producers of An
Slide 10: Strengths
Strengths Multi-product basket which helps to Robust manufacturing technologies; keep financial stability absorbed and adopted from technology experts worldwide Record capacity utilization in all plants Consistent profit since inception PAN India distribution network Strong technical team with deep
Slide 11: Our Facilities
Our Facilities Installed Capacity Corporate Office Segment Products (KTPA) Acetic Acid 150 AN melt 158 Aniline 40 Bharuch Chemicals Concentrated Nitric Acid (4 plants) 166 Ethyl Acetate 50 Formic Acid 20 Bharuch Complex Methanol (3 plants) 269 Technical Grade Urea 169 Since 1982 Toluene Di – Isocyan
Slide 12: Technology Partner
Technology Partner BASF Germany B P Chemicals UK Chematur A B Sweden GE Energy USA Haldor Topsoe Denmark Ammonium Nitro phosphate Acetic Acid TDI, Aniline CPSU Ammonia Kemira OY Finland Linde AG Germany Plinke Germany Saipem Italy Uhde Germany (Now Formic Acid Ammonia / Methanol Concentrated Nitric
Slide 13: Financial Performance
02 Financial Performance
Slide 14: From The Desk of Managing Director
From The Desk of Managing Director Dr. T. Natarajan Managing Director Commenting on the results, Dr. T. Natarajan, Managing Director stated that there is a better financial performance on the back of operating performance where PBT improved on Q-o-Q basis by 36% and on Y-o-Y quarter basis by 68% whe
Slide 15: Financial Analysis of FY 24-25 Vs. FY 23-24
Financial Analysis of FY 24-25 Vs. FY 23-24 Key reasons for margin movement Positive Factors : • Softening of input costs • Better sales volume • Higher other income • Lower employee benefit expenses Negative Factors : • Higher Repairs & Maintenance and Finance cost • Annual Maintenance shut-down at
Slide 16: Performance Q-4 FY 2024-25
Performance Q-4 FY 2024-25 (₹ Crores) Q4 Q3 Q4 FY FY Particulars During FY 24-25, RFO is lower as 24-25 24-25 23-24 24-25 23-24 compared to FY 23-24 mainly due to prolonged maintenance shutdown of TDI - Dahej plant resulting into loss of Operating Revenue 2,055 1,899 2,110 7,892 7,930 revenue and vo
Slide 17: Segment Performance
Segment Performance Segment Revenue Segment Result 23 33 5 2,500 19 300 - 16 2,000 200 1,500 1,371 1,178 1,287 250 100 182 145 1,000 500 661 702 790 - (49) (35) (53) - (100) Q4 Q3 Q4 Q4 Q3 Q4 24-25 24-25 23-24 24-25 24-25 23-24 Fertilizers Chemicals Others Fertilizers Chemicals Others Q-4 Vs Q-3: Th
Slide 18: Segment Performance
Segment Performance Segment Revenue Segment Result 92 150 23 45 800 8,000 600 6,000 4,900 4,726 400 665 542 4,000 200 - (180) (244) 2,000 2,900 3,054 (200) - (400) FY FY FY FY 24-25 23-24 24-25 23-24 Fertilizers Chemicals Others Fertilizers Chemicals Others FY Vs FY: Fertilizer segment results impro
Slide 19: Key Financial Ratios
Key Financial Ratios FY FY Particulars Units 24-25 23-24 A Return Ratios Net Profit Ratio % 7.42 6.11 RoE % 7.03 5.64 RoCE % 9.24 7.84 B Turnover base Ratios Inventory turnover ratio Times 6.64 7.07 Trade Receivables turnover ratio Times 15.05 15.96 Trade Payables turnover ratio Times 12.96 12.13 C
Slide 20: Balance Sheet Summary
Balance Sheet Summary (₹ Crores) Particulars 31-03-2025 31-03-2024 Change % Change Net Fixed Assets * 3,093 3,238 (145) (4%) CWIP 382 289 93 32% Investments 2,181 2,919 (738) (25%) Cash & Bank balance/deposits 2,308 1,529 779 51% Other Assets 2,916 2,586 330 13% Total Assets 10,880 10,561 319 3% Bor
Slide 21: Cash Flow Summary
Cash Flow Summary (₹ Crores) % Particulars FY 24-25 FY 23-24 Change Change • During FY 24-25, Operating cash flows are higher due to subsidy release A Operating Cash Flow before Working Capital changes 748 648 100 15% support from GoI. Further, Outflow for investment activities represents investment
Slide 22: Consolidation Entity
Consolidation Entity Results of Associate Company i.e. “Gujarat Green Revolution Company Limited (GGRC)” with shareholding of 46.87%. The reconciliation is provided herein below : (₹ Crores) Q4 Q3 Q4 FY FY P&L 24-25 24-25 23-24 24-25 23-24 Standalone PAT 210 158 127 585 485 - Share in profit of Asso
Slide 23: Feedstock Spread
03 Feedstock Spread
Slide 24: Feedstock Spread
Feedstock Spread Price(₹(₹‘000/MT) Price ‘000/MT) Toluene TDI Highest Lowest 229 180 179 194 159 140 93 99 128 116 89 87 81 66 43 FY20-21 FY21-22 FY22-23 FY23-24 FY24-25 Source: Company GNFC I Investor Presentation I Q4 FY 24-25 23 of 42
Slide 25: Feedstock Spread
Feedstock Spread Price (₹ ‘000/MT) Methanol Acetic Acid Highest 84 Lowest 47 42 38 41 45 18 9 16 19 39 29 26 29 22 FY20-21 FY21-22 FY22-23 FY23-24 FY24-25 Source: Company GNFC I Investor Presentation I Q4 FY 24-25 24 of 42
Slide 26: Feedstock Spread
Feedstock Spread Price (₹ ‘000/MT) Benzene Aniline Highest Lowest 159 153 139 133 95 53 77 77 54 54 76 82 79 86 41 FY20-21 FY21-22 FY22-23 FY23-24 FY24-25 Source: Company GNFC I Investor Presentation I Q4 FY 24-25 25 of 42
Slide 27: Trends In Key Inputs
Trends In Key Inputs Toluene (₹ /MT) Benzene (₹ /MT) Rock Phosphate (₹ /MT) SDS (₹ /KL) Ammonia (₹ /MT) (₹ ‘000) 89 87 9% 86 82 81 80 79 (7%) 76 81 66 57 59 50 (14%) 51 48 50 (2%) 43 41 33 26 23 22 (4%) 18 10 11 FY20-21 FY21-22 FY22-23 FY23-24 FY24-25 Source: Company % Represent Y-o-Y Changes GNFC I
Slide 28: Trends In Key Energy Inputs
Trends In Key Energy Inputs Oil (Rs. / MT) N (Gas) Rs. / '000 SM3 Imported Coal (Rs. / MT) (₹ ‘000) 76 57 52 50 4% 45 39 33 31 28 (15%) 17 16 10 11 6 7 13% MAR-21 MAR-22 MAR-23 MAR-24 MAR-25 Source: Company % Represent Y-o-Y Changes N (Gas) : Considered Non Urea GNFC I Investor Presentation I Q4 FY
Slide 29: Import Trends in Feed/Fuel
Import Trends in Feed/Fuel (TMT except LNG) Ammonia LNG MMSCM 2,655 2,636 34,329 33,198 32,352 31,795 2,417 31,028 2,340 2,307 28,547 2,176 2,148 26,304 18-19 19-20 20-21 21-22 22-23 23-24 24-25 (P) 18-19 19-20 20-21 21-22 22-23 23-24 24-25 (P) Non Coking Coal Fuel Oil 8,980 9,055 2,05,720 8,563 1,9
Slide 30: Import Goods Volume CAGR – Feed & Fuel
Import Goods Volume CAGR – FY 2014-15 to FY 2023-24 Feed & Fuel CAGR 1.88% CAGR 6.09% CAGR 25.94% CAGR 0.49% 31,795 2,176 2,05,720 9,055 Ammonia LNG Coal - Non Coking Fuel Oil 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 Source : Public Domain GNFC I Investor Presentation I Q4 FY
Slide 31: Import Trends in Fertilizers
Import Trends in Fertilizers (TMT) Urea NPK 9826 2,752 9121 9136 2,187 2,272 7481 7582 1,741 7042 1,170 5647 861 719 18-19 19-20 20-21 21-22 22-23 23-24 24-25 (P) 18-19 19-20 20-21 21-22 22-23 23-24 24-25 (P) MOP DAP 4,214 6,837 6,602 3,670 3,530 5,462 5,514 2,734 4,870 4,882 4,569 2,133 1,801 1,393
Slide 32: Import Goods Volume CAGR – Fertilizers
Import Goods Volume CAGR – FY 2014-15 to FY 2023-24 Fertilizers CAGR (-) 2.15% CAGR 22.35% CAGR 3.75% CAGR (-) 6.50% 5,514 2,187 4,176 2,133 291 Urea NPK DAP MOP 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 Source : Public Domain GNFC I Investor Presentation I Q4 FY 24-25 31 of 42
Slide 33: Import Trends in Chemicals
Import Trends in Chemicals (TMT) Acetic Acid Ammonium Nitrate Aniline 450 149 1,135 1,112 1,055 328 101 937 273 268 927 247 88 92 904 218 81 73 18-19 19-20 20-21 21-22 22-23 23-24 18-19 19-20 20-21 21-22 22-23 23-24 18-19 19-20 20-21 21-22 22-23 23-24 Formic Acid Methanol TDI 3,066 36 56 2,816 51 2,
Slide 34: Import Goods Volume CAGR – Chemicals
Import Goods Volume CAGR – FY 2014-15 to FY 2023-24 Chemicals CAGR 17.44% CAGR 15.23% CAGR 2.57% CAGR 6.46% CAGR 3.53% CAGR 4.56% 149 18 450 3,066 1,112 51 Acetic Acid Ammonium Nitrate Aniline Formic Acid Methanol TDI 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 2014-15 2023-24 20
Slide 35: Capex Plan
04 Capex Plan
Slide 36: Expansion Plan
Expansion Plan Financial Year Wise Current Schedule PROJECTS Capacity 25-26 26-27 27-28 UNDER EXECUTION : 150 MT/Hr Steam & 1. Coal Based Steam & Power Plant (CCPP) 18 MW Power 2. Ammonia Expansion 50 KTPA 3. Weak Nitric Acid –III 200 KTPA UNDER CONSIDERATION : Ammonium Nitrate -II 163 KTPA • Coal B
Slide 37: Supplementary
05 Supplementary
Slide 38: Share Holding Pattern
Share Holding Pattern Shareholding Pattern Mar,-2025 Mar,-2024 Indian Public & Non Institutional Promotors 41% 41% Investors, 34% FII/FPI (Institutions Foreign) 15% 20% DII (Institutions Domestic) 10% 9% Promotors, 41% Indian Public & Non Institutional 34% 30% Investors Share value of 14.69 Crores
Slide 39: Share Price Movement
Share Price Movement GNFC Sensex 300 281 250 208 200 169 165 149 150 118 119 156 100 100 50 0 MA R- 2 1 MA R- 2 2 MA R- 2 3 MA R- 2 4 MA R- 2 5 # Source: BSE # Rebased to 100 # S&P BSE SENSEX GNFC I Investor Presentation I Q4 FY 24-25 38 of 42
Slide 40: CSR Activity at a Glance
CSR Activity at a Glance Revival of 03 SHG's for entrepreneurial Price (₹ ‘000/MT) activities. Development of Smart Library in 08 Govt. Schools of Bharuch PAAs. Primary Health-care treatment through Mobile Medical Van Project. Contribution to Seva Yagna Samiti for Pre & Post-surgical assista
Slide 41: CSR Activity at a Glance
CSR Activity at a Glance Integration of digital education through Virtual Reality Price (₹ ‘000/MT) (VR) Technologies in 02 Govt. schools, of Bharuch District. Support to Bharuch District Administration for providing 5000 food packets in Vadodara during flood. Upgradation of 20 existing Anganw
Slide 42: About Us
About Us GNFC is a joint sector enterprise promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals Ltd.(GSFC). It was set up in Bharuch, Gujarat in 1976. GNFC started its manufacturing and marketing operations by setting up in 1982, one of the world’s largest single-strea
Slide 43: Thank You
2) THANK YOU
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