Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 24 Sep - CRISIL reaffirms AA+/Positive and A1+ ratings for ₹2,050 crore, ₹3,920 crore and proposed ₹4,323.56 crore facilities.
Source: Bse
Chambal Fertilizers & Chemicals Limited (CHAMBLFERT)
Small CapChemicals stocks · Small cap · NSE
Chambal Fertilizers & Chemicals Ltd (CFCL) is India's largest private-sector Urea manufacturer with 3.4 MMTPA capacity across three energy-efficient plants in Rajasthan. It offers a single-window agri-solution, marketing complex fertilizers, crop protection chemicals, speciality nutrients, biologicals, and seeds. CFCL is commissioning a 2.4 Lakh MTPA Technical Ammonium Nitrate (TAN) plant.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result16 Aug, 01:50 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Chemicals P/E 33.1 (n=45)
Technical timing lens
Trend score and candlestick chart
29Bearishfull bear SMA stack · SMA20 -4.7% / mo · MACD − · near 52W low · sector -4.2pp vs Nifty 500 (3M)
Stock trend: 18
Sector RS: 46
Sector 3M: -9.8% vs Nifty 500 -5.6%
Chemicals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CHAMBLFERTD candles · FIT view-13.1%Latest close ₹382.95 on 2026-10-19
Bar
-1.5%
RSI
35
MACD hist
-0.34
52W pos
9%
2026-10-19O ₹388.85H ₹389.75L ₹381.50C ₹382.95Vol 2.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CHAMBLFERTNifty ChemicalsNifty 500
- CHAMBLFERT
- -13.6%
- Nifty 500
- -5.6%
- Nifty Chemicals
- -8.5%
- Vs Nifty 500
- -8.0 pp
Chart stats
19 Oct 2026- From 52W high
- -24.8%
- 52W range position
- 8%
- ATR (14)
- 2.5%
- Volume vs 20D
- 0.62x
- Avg traded value
- ₹18.2 Cr
- 20D price channel
- ₹371.3 - ₹423.5
₹509.1
₹371.3 - ₹509.1
₹9.4
Latest completed session
20-session average
24.3% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE81
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -11.8% · PAT -4.5% YoY
Technical
Bearish29
Price trend and sector-relative-strength timing.
Valuation
Legacy model+43.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence81
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -12% YoY · PAT -5% YoY · margin expansion · +81% QoQ · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5,027 Cr | -11.8% | +80.5% |
| EBITDA | ₹826 Cr | +8.5% | +223.9% |
| Operating margin | 16.0% | +300 bps | +700 bps |
| PAT | ₹524 Cr | -4.5% | +210.1% |
| PAT margin | 10.4% | +79 bps | +435 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 8.11
- P/B
- 1.50
- EV/EBITDA
- 5.38
- Market Cap
- 15593.00Cr
Profitability
- ROE
- 20.00%
- ROCE
- 25.20%
- ROA
- 11.45%
- Dividend Y
- 2.81%
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- 6.00%
- Revenue 3Y
- -9.00%
- EPS 3Y
- 24.00%
Balance Sheet
- Debt/Equity
- 0.10
- Interest Coverage
- 130.62×
- Altman Z
- 5.60
- Book Value
- 260.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 7/5
- OCF
- 138.00 Cr
- EPS TTM
- 48.12
Shareholding
- Promoter Hold
- 61.72%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 14%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 16.6k-7.3% vs prev
Net Profit
₹ CrLatest: 1,649+29.2% vs prev
Return on Equity
%Latest: 15.8+8.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 35. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.9% over last month) — short-term momentum negative.
- RSI(14) at 35 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
26
RS percentile
Stage 4 Downtrend
1M return
-7.7%
3M return
-13.6%
6M return
-15.3%
1Y return
-21.4%
RS 1D
+1
RS 20D
+8
Sector rank
#13
Industry rank
-
Stage evidence
- Price is 13.3% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.2%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 75.93-0.30%
RS vs Nifty 50076
Valuation & peers
U-Score 81 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 81 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation29/30
Growth13/25
Quality15/20
Balance Sheet14/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
81
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
81/100 · legacy band DEEP VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 43.5%.
- Valuation contributes 29/30 to the score.
Main drags
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Growth is weaker at 13/25; verify the latest quarterly trend.
- Quality is weaker at 15/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
8.1
PB
1.5
EV/EBITDA
5.4
ROE
20.0%
ROCE
25.2%
FCF Yield
—
Debt/Equity
0.1
MoS
+43.5%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 8.1, so peak-cycle earnings risk should be checked.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
81
Previous: 81
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+43.5%
Previous: +43.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
81
81
81
80
80
80
80
81
81
81
81
81
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹530.57
+27.8% MoS
Growth-justified P/E
14.1
Growth-justified Value
₹678.01
+43.5% MoS
PEG
0.84
Comparable companies
Peers
Business-comparable peers in Chemicals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DEEPAKFERT
Small
Deepak Fertilizers and Petrochemicals Corporation Limited
Fertilizers & Chemicals
match 172
47
17.2
10.9%
+64%
FAIR VALUE
PARADEEP
Large
Paradeep Phosphates Limited
Fertilizers & Chemicals
match 165
72
13.8
16.2%
+71%
UNDERVALUED
GNFC
Micro
Gujarat Narmada Valley Fertilizers and Chemicals Limited
Fertilizers & Chemicals
match 164
59
8.2
9.1%
+21%
FAIR VALUE
RCF
Micro
Rashtriya Chemicals and Fertilizers Limited
Fertilizers & Chemicals
match 156
40
14.0
7.8%
-41%
WATCHLIST
NFL
Micro
National Fertilizers Limited
Fertilizers & Chemicals
match 154
38
8.5
7.5%
-42%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-15T23:23:10.737Z
Management commentary snapshot
FY26 consolidated operational income grew 25% YoY to INR 207,937 Mn, with net profit up 18% YoY to INR 19,533 Mn. Q4-FY26 saw strong YoY growth: operational income +14%, EBITDA +56%, and net profit +30%, though QoQ performance declined significantly due to seasonality.
The company delivered robust FY26 and Q4-FY26 YoY growth in revenue and profit, driven by non-urea segments and new product launches. However, FY26 margins compressed, and trade receivables surged. The TAN plant commissioning is a key diversification, but its ramp-up and impact on financials need close monitoring.
Current business mix
FY26 Segment wise Revenue Split
Latest issuer-disclosed distribution across 3 reported categories.
Urea60.0%
Complex Fertilisers34.0%
Crop Protection Chemicals, Speciality Nutrients and Seeds6.0%
Growth engines
Non-Urea Agri-Inputs
Crop Protection Chemicals and Speciality Nutrients saw 27% YoY contribution growth in FY26, with 17 new products launched and 15 in pipeline for FY27.
Biologicals Segment
Biologicals revenue increased 57% in FY26, with volume up 30%. 'UTTAM PRANAAM' contribution grew 172% in FY26, covering 3 million acres.
Technical Ammonium Nitrate (TAN)
Commissioning of the 2.4 Lakh MTPA TAN plant is in progress, diversifying into industrial and mining chemicals with a project cost of INR 16,450 Mn.
Capacity and execution
TAN Plant Commissioning
The Technical Ammonium Nitrate (TAN) plant, with a capacity of 2.4 Lakh MTPA and project cost of INR 16,450 Mn, is currently in the commissioning phase.
WNA Plant Dry Run
Dry run of the Weak Nitric Acid (WNA) plant, part of the TAN complex, has commenced, to be followed by Ammonium Nitrate Solution Melt and HDAN Solid production.
Tailwinds
Government Initiatives
The TAN initiative aligns with India's 'Aatmanirbhar Bharat' vision, supporting energy security and critical sectors like mining and infrastructure.
Agri-Input Demand
Stable demand for urea tied to agricultural cycles and policy pricing, complemented by demand for phosphatic and potassic fertilizers.
Headwinds
Urea Plant Stoppage
Urea volumes were lower in FY26 mainly due to an unscheduled stoppage of one Urea Plant during the year.
Margin Compression
FY26 consolidated EBITDA and PAT margins declined YoY despite revenue growth, indicating cost pressures or changes in product mix.
Risk radar
Regulatory Environment
Urea is a highly regulated product, making the business susceptible to policy changes and pricing controls.
Receivables Management
A significant increase in standalone trade receivables to INR 20,752 Mn in FY26 from INR 3,679 Mn in FY25 raises concerns about working capital efficiency.
Project Execution Risk
Successful commissioning and ramp-up of the new TAN plant, a large-scale project, is critical for realizing diversification benefits.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for assessing annual performance and seasonal business trends in fertilizers. QoQ is important to track sequential momentum, especially given the significant decline in Q4-FY26 consolidated results from Q3-FY26.
Sector KPIs management disclosed
EBITDA Margins
FY26 consolidated EBITDA margin was 12.88% (vs 14.92% in FY25), a 14% decline. Q4-FY26 margin was 9.16% (vs 6.67% in Q4-FY25), a 37% increase.
PAT Margins
FY26 consolidated PAT margin was 9.39% (vs 9.91% in FY25), a 5% decline. Q4-FY26 margin was 6.08% (vs 5.32% in Q4-FY25), a 14% increase.
Working Capital Days
Working Capital Days improved to 51 in FY26 from 57 in FY25.
Trade Receivables
Standalone Trade Receivables increased significantly to INR 20,752 Mn in FY26 from INR 3,679 Mn in FY25.
Management forward view
TAN Plant Commissioning
Activities for commissioning the Technical Ammonium Nitrate plant are in progress, with dry run of WNA plant started.
New Product Pipeline
14 new Crop Protection Chemicals and 1 Speciality Nutrient product are in the pipeline for launch in FY27.
Research & Development
MOU signed for CFCL-TERI Centre of Excellence to develop 10 novel & patented products in Crop Protection and Crop Nutrition over five years.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| TAN Plant Ramp-up | Dry run of WNA plant started. | Production of ANS Melt and HDAN Solid, and commercial sales. |
| Receivables Trend | Standalone Trade Receivables at INR 20,752 Mn; Subsidy Debtors at INR 19,794 Mn. | Reduction in receivables days and improved collection efficiency. |
| Non-Urea Growth | 27% YoY contribution growth in CPC/SN; 57% YoY revenue growth in Biologicals. | Sustained growth rates and successful new product launches in these segments. |
| Overall Margins | FY26 EBITDA margin 12.88% (down 14% YoY); PAT margin 9.39% (down 5% YoY). | Reversal of margin compression trends in subsequent quarters. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
81Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 93rd percentile of the scored universe and 89th percentile within Chemicals. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
121 docs text-extracted · 34 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
93rd percentile
overall median 67 · Chemicals: 89th pctile, median 73 · Small: 95th pctile, median 66
Evidence depth
Financial-only
121 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
82
strong · capital discipline
Results
79
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 61.7%.
- ▸Promoter pledge is zero.
- ▸7 years of positive FCF.
- ▸Debt/equity is 0.10.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Chambal Fertilizers & Chemicals Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Aug - Copy of newspaper publication regarding opening of special window for transfer and dematerialisation (demat) of physical shares.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1d - Copies of notice to shareholders in respect of Forty First Annual General Meeting of the Company and Notice of Record Date published on July 22, …
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Jul - Copies of notice to shareholders of the Company in respect of transfer of equity shares to Investor Education and Protection Fund published on July 16, …
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.