Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) Q3 24/25 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2024, were approved, showing improved profitability and margins sequentially from Q2 FY25, driven by higher chemical volumes and lower input costs.

• Leadership changes include the appointment of Dr. T. Natarajan, IAS, as Managing Director and Shri Pankaj Joshi, IAS, as Chairman, effective February 2025.

Financial highlights

• Q3 FY25 standalone revenue from operations: ₹1,899 crore (down from ₹2,088 crore in Q3 FY24, flat sequentially from ₹1,917 crore in Q2 FY25).

• Q3 FY25 standalone net profit: ₹158 crore (up from ₹95 crore in Q3 FY24, up from ₹102 crore in Q2 FY25).

• Q3 FY25 consolidated net profit: ₹163 crore (up from ₹97 crore in Q3 FY24, up from ₹105 crore in Q2 FY25).

• Operating EBITDA margin improved to 7% in Q3 FY25 from 5% in Q2 FY25 and 4% in Q3 FY24.

• For 9M FY25, standalone revenue: ₹5,837 crore (flat year-over-year), net profit: ₹375 crore (up from ₹358 crore in 9M FY24).

Outlook and guidance

• With Dahej Complex at full capacity and no planned shutdowns at Bharuch, better performance is expected in Q4 FY25.

• Ongoing and planned capex projects (coal-based power plant, ammonia expansion, nitric acid, ammonium nitrate) aim to reduce costs and strengthen market share.