Gujarat State Fertilizers & Chemicals Limited — Investor Meet, 18-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Gujarat State Fertilizers & Chemicals Limited (GSFC) delivered strong Q2 FY'26 results, with revenue up 21% YoY to ₹3,187 Cr and PAT up 9% to ₹324 Cr, marking its best quarterly performance. Fertilizer segment growth was propelled by DAP trading, though raw material cost surges impacted margins. Industrial Products turned profitable, driven by HX Crystal production and ammonia trading.

Management anticipates sustained profitability through cost optimization and the upcoming Sulfuric Acid V project. A positive Rabi season demand and favorable NBS subsidy revisions are expected. While caprolactam margins may remain soft, HX Crystal output is maximized, and melamine exports are boosting realizations. GSFC maintains a strong balance sheet and positive outlook.