National Fertilizers Q3 FY26: Profit up, income ₹6,887 cr

Promoter holding steady in March 2026 quarter

National Fertilizers Limited (NFL) reported that promoter holding remained unchanged at 74.71% in the March 2026 quarter. For investors, promoter holding is a closely watched indicator because stability can signal continuity in ownership and governance, especially for a public sector enterprise.

The update comes alongside a set of financial data points and quarterly performance numbers that show NFL’s results moving from losses in one quarter to profit in the next. The stock was reported as trading at ₹78.30 on Wed May 27 2026 06:09:57.

Stock valuation snapshot and sector comparison

NFL’s valuation metrics in the provided data show a TTM P/E of 22.88, compared with a sector P/E of 34.28. A lower P/E relative to the sector can reflect many factors, including differences in earnings stability, the role of subsidy recognition, and how the market prices near-term profitability.

The same dataset also lists peers such as Solar Industries India (0.67%), Coromandel International (1.18%), and Pidilite Industries (-0.10%). These appear as listed peer references alongside NFL’s snapshot, providing context for how the broader market names were moving in that view.

Q3 FY26 results: income rises, profitability turns positive

For Q3FY26, NFL reported total income of ₹6,887.12 crore. This was a 1.6% QoQ increase from ₹6,778.33 crore in Q2FY26, and a 17.0% YoY rise from ₹5,883.93 crore in Q3FY25.

Profitability also improved sharply during the quarter. Profit Before Tax (PBT) for Q3FY26 was reported at ₹131.07 crore, compared with -₹10.32 crore in Q2FY26. On a year-on-year basis, the PBT comparison was against ₹41.92 crore in Q3FY25.

On the bottom line, Profit After Tax (PAT) for Q3FY26 was ₹135.20 crore, compared with -₹35.81 crore in Q2FY26 and ₹45.81 crore in Q3FY25. The figures presented describe the sequential move from a loss to profit as a key part of the quarter’s story.

Standalone vs consolidated: two profit figures in the same quarter

The information provided includes both standalone and consolidated profit numbers for the quarter ended December 31, 2025 (Q3 FY26).

• Standalone net profit was cited as ₹93.77 crore, up 203% YoY from ₹30.90 crore in Q3FY25.
• Consolidated net profit was cited as ₹135.20 crore, compared with ₹45.81 crore in the corresponding quarter.

NFL also announced its Q3 FY 2025-26 results on 14 February, 2026, as per the provided timeline.

Subsidy income and segment performance highlighted

A central driver mentioned for the turnaround was fertilizer subsidy income. The data states that NFL recognized ₹537.06 crore in subsidy income for Q3 FY26, aligned to Department of Fertilizers guidelines for the Kharif 2025 season.

Another key operational highlight was the Traded Imported Fertilizers division. The segment was described as a growth engine, with profits moving from ₹0.10 crore (₹10 lakh) in Q3FY25 to ₹141.28 crore in Q3FY26. This jump is one of the clearest quantified changes in the quarter’s narrative.

EBITDA and EPS: operational and per-share indicators

NFL’s Q3FY26 highlights also included EBITDA of ₹313.24 crore, compared with ₹143.45 crore in Q2FY26.

On a per-share basis, EPS for Q3FY26 was ₹2.76, compared with -₹0.73 in Q2FY26 and ₹0.93 in Q3FY25. These figures mirror the move from quarterly losses to profitability and provide another lens for tracking the recovery.

Nine-month performance: reversal from loss to profit

Beyond the quarter, the text includes a reference to a broader turnaround across the April to December period. It states that the company reversed a previous year’s nine-month loss of ₹21.07 crore, posting a net profit of ₹51.46 crore for the April–December 2025 period.

Separately, consolidated nine-month numbers were also provided. For the nine months ended Dec 31, 2025, consolidated Total Income was ₹17,208.54 crore (converted from ₹17,20,854 lakh), and consolidated PAT was ₹59.95 crore (from ₹5,995 lakh). The consolidated dataset also noted PBT of ₹84.50 crore (from ₹8,450 lakh) and a share of net profit from joint ventures of ₹8.67 crore (from ₹867 lakh).

Key numbers table: Q3FY26 vs Q2FY26 vs Q3FY25

Market impact: what investors typically track from this update

Three data points stand out for market participants in the information provided. First is the move from a quarterly loss (Q2FY26 PAT -₹35.81 crore) to a profit (Q3FY26 PAT ₹135.20 crore), supported by the increase in total income and the shift in PBT.

Second is the explicit linkage to subsidy recognition, including the stated ₹537.06 crore subsidy income recognized in Q3FY26. For fertilizer companies, the timing and recognition of subsidy receipts can materially affect reported quarterly earnings.

Third is ownership stability, with promoter holding unchanged at 74.71% in the March 2026 quarter. Combined with the valuation snapshot (TTM P/E 22.88 versus sector 34.28), these data points often shape how the market frames risk and consistency in earnings.

Company contact details included in the data

The provided information also included NFL’s corporate contact details: Scope Complex, Core 3, Lodhi Road, New Delhi, Delhi 110003, telephone 011-24360066, fax 011-24361553, investor email investor@nfl.co.in, and website http://www.nationalfertilizers.com.

Conclusion

NFL’s latest snapshot combines two clear messages: promoter holding stayed unchanged at 74.71% in the March 2026 quarter, and Q3FY26 marked a sharp recovery in profitability with ₹6,887.12 crore total income and profit supported by subsidy recognition. The results were announced on 14 February 2026, and the quarter’s key drivers cited were subsidy income and improved performance in traded imported fertilizers.