National Fertilizers Limited (NFL.NS) Stock Analysis & Winston Score

National Fertilizers Limited, established in 1974 and based in Noida, India, is primarily engaged in the manufacturing and distribution of a wide array of products including urea, various industrial chemicals, and biological fertilizers across India. Its operations are divided into three core business areas: proprietary fertilizer production, fertilizer trading, and other products and services. The company supplies Kisan urea, suitable for diverse crops and foliar applications, alongside neem-coated urea and bentonite sulphur. Additionally, it offers bio-fertilizers such as rhizobium, phosphate and zinc solubilizing bacteria, and azetobactor, which are designed to enhance chemical fertilizers and support soil health. Under its KISAN brand, industrial chemicals include dilute nitric acid, ammonium nitrate, anhydrous ammonia, and sodium nitrite and nitrate. Certified seeds are marketed under the Kisan Beej brand. Furthermore, the company trades in compost products, a range of agrochemicals like insecticides, herbicides, and fungicides, as well as potassium chloride, diammonium phosphate, and nitrophosphate.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+12.8% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Cash Position

Cash flow positive

$6.0B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

National Fertilizers Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 490.6M (2022) → 490.7M (2026)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

12.3%

Thin — 12.3% gross margin

Operating Margin

5.1%

Thin — 5.1% operating margin

ROCE

3.3%

Weak — 3.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+8.7%

Steady sales growth (8.7% YoY)

EPS YoY

+15.5%

Earnings growing fast (15.5% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

-1095%

Weak — only -1095% of profit becomes cash

FCF Margin

-11.4%

Burning cash (-11.4%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

1.39

Elevated debt (1.39)

Interest Cover

1.72x

Dangerous — barely covers interest (1.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

16.3x

Fair value — P/E 16.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

2.21%

Moderate income — 2.21% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+22.2%

Dividend growing fast (22.2% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial