MADRASFERT

Madras Fertilizers Limited

Madras Fertilizers Limited (MADRASFERT) financial statements and selected valuation metrics through 30 June 2026.

Commodities›Chemicals›Fertilizers & Agrochemicals›Fertilizers

madrasfert.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹58.94
Market cap
948 Cr
Stock P/E
13.4
P/B
10.32
ROE (FY26)
87.4%
ROCE (FY26)
22.2%
Operating margin (FY26)
4.2%
Debt / equity (FY26)
6.90
OCF / EBITDA (FY26)
4.8%
OCF / EBITDA (3Y)
87.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

MFL (Madras Fertilizers) makes ammonia, urea (including neem-coated urea) and complex fertilizers, which it sells in India, and the Department of Fertilizers of the Government of India appoints its independent directors.

Company snapshot

11thBy market cap

Ranked among 19 companies in Fertilizers.

What we see

Positives
  • ✓87% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Debt-to-equity of 6.90x — the company carries significant debt relative to its equity base.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales385 Cr556 Cr758 Cr655 Cr532 Cr800 Cr555 Cr672 Cr510 Cr419 Cr699 Cr814 Cr
Operating expenses (approx.)374 Cr543 Cr666 Cr590 Cr521 Cr693 Cr616 Cr607 Cr498 Cr422 Cr663 Cr761 Cr
EBITDA12 Cr13 Cr92 Cr65 Cr11 Cr107 Cr-61 Cr65 Cr12 Cr-3 Cr36 Cr53 Cr
OPM %3.0%2.4%12.2%10.0%2.1%13.4%-11.0%9.7%2.4%-0.7%5.1%6.5%
Other income9 Cr10 Cr22 Cr9 Cr10 Cr9 Cr16 Cr13 Cr23 Cr24 Cr13 Cr12 Cr
Interest14 Cr16 Cr24 Cr17 Cr15 Cr15 Cr16 Cr16 Cr14 Cr14 Cr15 Cr15 Cr
Depreciation3 Cr3 Cr1 Cr3 Cr2 Cr3 Cr4 Cr3 Cr3 Cr4 Cr4 Cr4 Cr
Profit before tax3 Cr-52 Cr95 Cr54 Cr3 Cr99 Cr-64 Cr59 Cr17 Cr4 Cr23 Cr46 Cr
Tax %0.0%0.0%6.7%25.2%52.4%24.3%18.5%25.2%25.4%28.8%7.2%24.9%
Net profit3 Cr-52 Cr88 Cr40 Cr2 Cr75 Cr-52 Cr44 Cr13 Cr3 Cr21 Cr35 Cr
EPS (₹)₹0.21₹-3.21₹5.48₹2.51₹0.10₹4.63₹-3.26₹2.74₹0.80₹0.16₹1.33₹2.15

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,395 Cr1,617 Cr1,593 Cr1,274 Cr1,532 Cr2,302 Cr3,447 Cr2,228 Cr2,542 Cr2,300 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,333 Cr1,612 Cr1,618 Cr1,306 Cr1,408 Cr2,065 Cr3,125 Cr2,128 Cr2,419 Cr2,190 CrSign in free for the trailing twelve months
EBITDA62 Cr6 Cr-25 Cr-31 Cr124 Cr238 Cr322 Cr100 Cr122 Cr110 CrSign in free for the trailing twelve months
OPM %4.4%0.3%-1.5%-2.4%8.1%10.3%9.3%4.5%4.8%4.8%Sign in free for the trailing twelve months
Other income38 Cr47 Cr67 Cr13 Cr8 Cr32 Cr14 Cr44 Cr44 Cr73 CrSign in free for the trailing twelve months
Interest74 Cr75 Cr100 Cr90 Cr98 Cr93 Cr78 Cr72 Cr63 Cr59 CrSign in free for the trailing twelve months
Depreciation21 Cr22 Cr23 Cr26 Cr31 Cr9 Cr10 Cr10 Cr12 Cr14 CrSign in free for the trailing twelve months
Profit before tax4 Cr-45 Cr-81 Cr-135 Cr3 Cr167 Cr249 Cr12 Cr92 Cr102 CrSign in free for the trailing twelve months
Tax %——0.0%0.0%0.0%3.1%25.5%53.2%29.9%21.4%Sign in free for the trailing twelve months
Net profit4 Cr-45 Cr-81 Cr-135 Cr3 Cr162 Cr185 Cr6 Cr64 Cr80 CrSign in free for the trailing twelve months
EPS (₹)₹0.22₹-2.76₹-5.02₹-8.37₹0.18₹10.06₹11.50₹0.35₹3.99₹4.99Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital162 Cr162 Cr162 Cr162 Cr162 Cr162 Cr162 Cr162 Cr162 Cr162 Cr
Reserves——-737 Cr-793 Cr-857 Cr-668 Cr-449 Cr-352 Cr-194 Cr-70 Cr
Borrowings1,254 Cr1,506 Cr1,652 Cr1,801 Cr1,376 Cr1,735 Cr1,494 Cr1,583 Cr1,594 Cr634 Cr
Other liabilities406 Cr568 Cr492 Cr358 Cr511 Cr681 Cr650 Cr614 Cr671 Cr1,606 Cr
Total liabilities1,230 Cr1,582 Cr1,568 Cr1,528 Cr1,191 Cr1,911 Cr1,857 Cr2,007 Cr2,233 Cr2,333 Cr
Fixed assets (net)182 Cr160 Cr146 Cr199 Cr188 Cr189 Cr190 Cr198 Cr199 Cr209 Cr
CWIP22 Cr26 Cr31 Cr3 Cr18 Cr14 Cr13 Cr21 Cr20 Cr27 Cr
Investments135 Cr149 Cr198 Cr283 Cr203 Cr251 Cr338 Cr456 Cr526 Cr576 Cr
Loans & advances——————0.47 Cr0.55 Cr10 Cr3 Cr
Inventories314 Cr220 Cr281 Cr251 Cr247 Cr284 Cr232 Cr206 Cr210 Cr167 Cr
Trade receivables44 Cr20 Cr27 Cr51 Cr273 Cr984 Cr504 Cr321 Cr383 Cr472 Cr
Cash & bank0.17 Cr0.09 Cr37 Cr133 Cr50 Cr0 Cr369 Cr551 Cr652 Cr142 Cr
Other assets533 Cr1,007 Cr848 Cr608 Cr212 Cr191 Cr209 Cr253 Cr233 Cr737 Cr
Total assets1,230 Cr1,582 Cr1,568 Cr1,528 Cr1,191 Cr1,911 Cr1,857 Cr2,007 Cr2,233 Cr2,333 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity220 Cr-150 Cr-23 Cr85 Cr472 Cr-317 Cr687 Cr169 Cr116 Cr5 Cr
Cash from investing-5 Cr-3 Cr-13 Cr-47 Cr27 Cr2 Cr2 Cr-1 Cr26 Cr31 Cr
Cash from financing-245 Cr178 Cr45 Cr59 Cr-456 Cr265 Cr-320 Cr14 Cr-52 Cr-34 Cr
Net cash flow-30 Cr25 Cr10 Cr96 Cr44 Cr0 Cr369 Cr182 Cr90 Cr2 Cr
Free cash flow (OCF − Capex)212 Cr-154 Cr-44 Cr34 Cr472 Cr-325 Cr687 Cr138 Cr106 Cr-11 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %——————25.9%6.4%7.1%22.2%
ROE %—————————87.4%
Debtor days1156156515653535575
Inventory days97647879986934465549
Days payable76111763711475446310193
Cash conversion cycle32-42757491494336931
OCF / EBITDA %353.9%n.m.——379.6%-133.3%213.4%169.1%95.0%4.8%
OCF / EBITDA % (3 years)——n.m.—n.m.72.7%123.2%81.8%178.6%87.5%
Debt / equity—————————6.90
Current ratio0.580.640.580.500.410.610.630.630.680.71
Net debt / EBITDA20.21273.39————3.4910.317.704.48