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NAGAFERT - Nagarjuna Fert.

📊 NSE: NAGAFERT 🏢 Fertilizers 📅 Last Updated: 12/14/2025 10:12

📢 Recent Corporate Announcements

NAGAFERT Reports Zero Revenue in Q3 FY26; Net Loss at ₹5.75 Crore as Operations Cease

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 14 Feb 2026, 04:30 PM

Nagarjuna Fertilizers and Chemicals Limited (NAGAFERT) reported zero revenue from operations for the quarter ended December 31, 2025, as the company is no longer a 'going concern' following the sale of its assets by secured creditors. The company posted a net loss of ₹574.77 lakhs for the quarter, with current liabilities exceeding current assets by ₹87,773.06 lakhs. Management is currently focused on pursuing subsidy claims and navigating massive legal disputes totaling approximately ₹1,209.43 crore, including significant arbitration awards and water cess claims. The financial results have been prepared on a 'not a going concern' basis since June 2024.

Revenue from operations dropped to zero in Q3 FY26 from ₹872.01 crore in the year-ago period.
Net loss for the quarter stood at ₹574.77 lakhs, while the nine-month loss reached ₹1,702.92 lakhs.
Current liabilities exceed current assets by a substantial ₹877.73 crore as of December 31, 2025.
Total contingent liabilities and disputed claims are estimated at ₹1,209.43 crore, including a ₹566.51 crore water cess dispute.
The company has no remaining production assets or revenue-generating business after the SARFAESI-led sale of core assets.

💡 Investors should be extremely cautious as the company has ceased operations and is technically insolvent with no remaining core assets. The equity value is likely negligible given the massive debt and contingent liabilities exceeding assets.

NAGAFERT Reports Q3 Net Loss of ₹5.75 Crore; Operations Remain Discontinued

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 14 Feb 2026, 04:26 PM

Nagarjuna Fertilizers reported zero revenue from operations for the quarter ended December 31, 2025, as the company has discontinued business operations and is no longer a 'going concern'. The company posted a net loss of ₹5.75 crore for the quarter, with total income of ₹8.63 crore primarily consisting of subsidy escalations from previous years. Financial distress is severe, with current liabilities exceeding current assets by ₹877.73 crore and total disputed contingent liabilities reaching approximately ₹1,209.43 crore. The company's core assets have already been sold by secured creditors under SARFAESI to recover dues.

Revenue from operations was nil for Q3 FY26 following the discontinuation of operations since June 2024.
Net loss for the quarter stood at ₹5.75 crore, widening from a loss of ₹2.63 crore in the year-ago period.
Current liabilities exceed current assets by ₹87,773.06 lakhs (approx. ₹878 crore) as of December 31, 2025.
Total contingent liabilities and disputed claims, including water cess and arbitration awards, amount to roughly ₹1,209.43 crore.
Financial statements are prepared on a 'not a going concern' basis as all core and non-core assets have been sold.

💡 Investors should be extremely wary as the company has no active operations and its assets have been liquidated by creditors. The stock carries high risk given the 'not a going concern' status and massive outstanding legal and financial liabilities.

NAGAFERT Appoints Lalitha Raghuram and Shilpi Varshney to Board of Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 14 Feb 2026, 02:45 PM

Nagarjuna Fertilizers and Chemicals Limited has appointed Ms. Lalitha Raghuram as a Non-Executive Director and Ms. Shilpi Varshney as an Independent Director, effective February 14, 2026. Ms. Raghuram brings a background in social work and strategic planning, while Ms. Varshney offers over 28 years of experience in rural development and agriculture-linked economies. These appointments are aimed at strengthening the board's oversight of CSR, rural sustainability, and human capital. Both directors have confirmed they are not debarred by SEBI from holding office.

Ms. Lalitha Raghuram appointed as Non-Executive Director effective February 14, 2026.
Ms. Shilpi Varshney appointed as Independent Director with 28 years of experience in social impact and skill development.
Ms. Varshney's expertise includes World Bank-funded projects and agriculture-linked rural economies.
The appointments were approved during the Board of Directors meeting which concluded at 12:00 Noon.

💡 These are routine board appointments that enhance the company's expertise in rural and social sectors; investors should maintain their current positions as this does not impact immediate financial performance.

Nagarjuna Fertilizers Appoints Lalitha Raghuram and Shilpi Varshney to Board

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 14 Feb 2026, 02:42 PM

Nagarjuna Fertilizers and Chemicals Limited has announced the appointment of Ms. Lalitha Raghuram as a Non-Executive Director and Ms. Shilpi Varshney as an Independent Director, effective February 14, 2026. Ms. Raghuram brings a background in social work and commerce, having served as Country Director for the Mohan Foundation. Ms. Varshney contributes over 28 years of experience in skill development and rural economies, particularly in agriculture-linked programs. These appointments are intended to enhance board oversight in areas of CSR, rural sustainability, and human capital.

Ms. Lalitha Raghuram (DIN: 07161344) appointed as Non-Executive Director effective February 14, 2026
Ms. Shilpi Varshney (DIN: 11513295) appointed as Independent Director effective February 14, 2026
Ms. Varshney brings over 28 years of leadership experience in social impact and skill development
Both directors have affirmed they are not debarred from holding office by any SEBI order

💡 These are routine board appointments focused on governance and CSR; investors should remain focused on the company's core financial performance and operational updates.

Nagarjuna Fertilizers Executive Director - Operations K Vijaya Gopala Raju Steps Down

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 09 Feb 2026, 05:23 PM

Nagarjuna Fertilizers and Chemicals Limited (NAGAFERT) has announced that Mr. K Vijaya Gopala Raju has requested to step down from his position as Executive Director - Operations. The communication was received on February 07, 2026, with the executive citing personal reasons for his departure. The company will relieve him in accordance with internal policies and will provide further disclosures under SEBI regulations upon the effective date of his exit. This transition in the operations leadership is a key development for the company's manufacturing and supply chain management.

Mr. K Vijaya Gopala Raju resigned from the post of Executive Director - Operations on February 07, 2026.
The resignation is attributed to personal reasons according to the company filing.
The company will follow internal policies for the relieving process of the outgoing director.
Further SEBI (LODR) disclosures are expected once the final relieving date is determined.
The announcement was officially filed with the exchanges on February 09, 2026.

💡 Investors should monitor for the announcement of a successor to ensure there is no disruption in the company's operational efficiency. No immediate portfolio changes are recommended based solely on this management transition.

NFCL Clarifies No Involvement in ₹13,000-Cr Green Ammonia Project; Assets Already Sold

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 20 Jan 2026, 12:06 PM

Nagarjuna Fertilizers and Chemicals Limited (NFCL) has clarified that it is not involved in the reported ₹13,000-crore green ammonia project in Kakinada. The company stated that its core assets were sold in July 2024 to settle debts of ₹3,858 crore with ACRE for a total recovery of ₹1,885 crore. NFCL's financials are currently prepared on a 'not a going concern' basis as it has no active core operations. The company is now primarily focused on recovering government subsidies and settling remaining dues, while the new project belongs to the current asset owners.

NFCL confirms it has no connection to the ₹13,000-crore green ammonia unit being developed in Kakinada.
Company core assets were sold for ₹1,885 crore to settle a total debt of ₹3,858 crore with ACRE.
Financial statements are currently drawn on a 'not a going concern' basis following the asset sale.
The company has no outstanding term loans or working capital debt as of July 2024.
Current activities are limited to recovering government subsidies and exploring temporary urea production arrangements.

💡 Investors should be aware that NFCL is essentially a residual entity and does not benefit from the new ₹13,000-crore investment at its former site. Extreme caution is advised as the company is not operating as a going concern.

NAGAFERT Clarifies Asset Sale and "Not a Going Concern" Status Post Debt Settlement

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 19 Jan 2026, 06:27 PM

Nagarjuna Fertilizers and Chemicals Limited (NFCL) has clarified that following the sale of its core and non-core assets for ₹1,885 crores by ACRE, the company is no longer a "going concern." The sale proceeds were used to settle a total debt of ₹3,858 crores, leading to a "No Due Certificate" and the discharge of all liabilities. Currently, the company has no outstanding term loans or working capital debt but lacks operational assets and has seen a majority of its staff depart. The company is now focused on recovering government subsidies and exploring a potential urea production arrangement with AM Green Ammonia (India) Private Limited.

Assets sold for ₹1,885 crores (₹1,685 cr core, ₹200 cr non-core) to settle ₹3,858 crores debt claimed by ACRE.
Company financials are now prepared on a "not a going concern" basis following the disposal of urea and MI facilities.
Received a "No Due Certificate" on July 11, 2024, confirming the release of all security, personal guarantees, and promoter share pledges.
Exploring a potential urea production arrangement with the Government and AM Green Ammonia (India) Private Limited.
Current focus is limited to recovering subsidy and energy reimbursement claims to settle remaining legal dues.

💡 Investors should exercise extreme caution as the company has lost its primary manufacturing assets and is officially classified as not a going concern. The stock remains highly speculative with future value dependent on uncertain subsidy recoveries and new production tie-ups.

Nagarjuna Fertilizers Complies with SEBI Regulation 74(5) for Quarter Ended Dec 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 06:06 PM

Nagarjuna Fertilizers and Chemicals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that for the quarter ended December 31, 2025, all securities received for dematerialization were processed within the mandated 15-day timeframe. The company's in-house share transfer agent verified that physical certificates were mutilated and cancelled, and the depositories' names were updated in the register of members. This is a standard administrative filing required by all listed entities.

Compliance certificate submitted for the quarter ended December 31, 2025.
Dematerialization requests were confirmed or rejected within the 15-day regulatory limit.
Physical share certificates were mutilated and cancelled after due verification.
The filing covers listings on both the National Stock Exchange (NSE) and BSE Limited.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming financial results and operational updates for material information.

Nagarjuna Fertilizers to Close Trading Window from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Dec 2025, 04:37 PM

Nagarjuna Fertilizers and Chemicals Limited has announced the closure of its trading window effective January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results for the quarter ending December 31, 2025. The trading window will remain closed until 48 hours after the financial results are declared to the public. This is a standard regulatory procedure for listed companies in India.

Trading window closure starts from January 01, 2026.
Closure is in anticipation of the financial results for the quarter ended December 31, 2025.
The window will reopen 48 hours after the official declaration of the quarterly results.
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015 and Company's Code of Conduct.

💡 This is a routine regulatory announcement and does not require any immediate action from retail investors. Investors should monitor the upcoming quarterly results for actual performance metrics.

NAGAFERT Appoints K Vijaya Gopala Raju as Head of Operations Effective Jan 1, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 30 Dec 2025, 08:00 AM

Nagarjuna Fertilizers and Chemicals Limited (NAGAFERT) has designated Mr. Kakarlapudi Vijaya Gopala Raju, Executive Director - Operations, to take charge of the company's operations effective January 1, 2026. Mr. Raju is a company veteran who previously served at NFCL for 28 years between June 1987 and December 2015. He holds a Post Graduate Diploma in Agri Business Management from XLRI Jamshedpur and a B.Sc. in Agriculture. His extensive background in agri-input sales, marketing, and P&L management is expected to provide stability to the company's operational framework.

Mr. K Vijaya Gopala Raju to lead operations starting January 1, 2026
Previously served at NFCL for 28 years from June 1987 to December 2015
Educational background includes XLRI Jamshedpur (2010-2011) and B.Sc. Agriculture (1980-1984)
Expertise includes agri-input sales, risk management, and profit & loss oversight

💡 This is a routine senior management appointment of an internal veteran. Investors should monitor if his leadership improves operational efficiencies and P&L performance in future quarters.

NFCL Sr. Executive Director R M Deshpande to Step Down on December 31, 2025

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 Dec 2025, 07:19 PM

Nagarjuna Fertilizers and Chemicals Limited (NFCL) has announced that Mr. R M Deshpande, the Senior Executive Director of Operations, will conclude his tenure on December 31, 2025. While he had initially submitted his resignation on November 10, 2025, citing medical and health reasons, he agreed to continue until the end of his fixed-term employment. This transition marks a change in the senior leadership overseeing the company's core operations. The company has complied with SEBI Regulation 30 in making this disclosure.

Mr. R M Deshpande to cease being Sr. Executive Director - Operations effective December 31, 2025.
The exit follows the completion of his Fixed Term Employment contract.
Resignation was originally tendered on November 10, 2025, due to health-related concerns.
The executive agreed to serve the remainder of his term to ensure operational continuity.

💡 Investors should watch for the appointment of a successor to lead operations, though the planned nature of this exit suggests minimal immediate disruption.

Nagarjuna Fertilizers MD and Chairman Resign as Promoter AMPL Exits 49.51% Stake

🔵 WATCH ⭐ 9/10

MANAGEMENT 📅 26 Dec 2025, 11:39 PM

Ambika Mercantile Private Limited (AMPL) has completely exited its 49.51% stake in Nagarjuna Fertilizers and Chemicals Limited, amounting to 29,60,72,140 equity shares. Consequently, AMPL has withdrawn its nominated directors, leading to the immediate resignation of Mr. K Rahul Raju as Managing Director and Mr. Uday Shankar Jha as Chairman effective December 26, 2025. The stake sale was conducted through open market transactions and block deals during FY 2024-25. This marks a total exit of a major promoter and a significant leadership vacuum at the top level of the company.

Promoter AMPL exited its entire 49.51% stake consisting of 29,60,72,140 equity shares
Managing Director K Rahul Raju and Chairman Uday Shankar Jha have resigned effective Dec 26, 2025
AMPL has officially ceased to be a shareholder and promoter of the company
The exit was executed via open market transactions and block deals during the 2024-25 financial year

💡 Investors should exercise caution and monitor the company for announcements regarding new leadership appointments and potential changes in strategic direction. The exit of a nearly 50% shareholder and the top management creates significant uncertainty for the company's near-term outlook.

Nagarjuna Fertilizers MD and Chairman Resign Following 49.51% Stake Exit by Promoter AMPL

🔵 WATCH ⭐ 9/10

MANAGEMENT 📅 26 Dec 2025, 11:37 PM

Ambika Mercantile Private Limited (AMPL), a major promoter, has exited its entire 49.51% stake in Nagarjuna Fertilizers and Chemicals Limited (NFCL) through open market and block deals. Consequently, AMPL has withdrawn its nominated directors, resulting in the immediate cessation of Mr. K Rahul Raju as Managing Director and Mr. Uday Shankar Jha as Chairman effective December 26, 2025. This marks a complete overhaul of the company's top leadership and promoter structure following the sale of 29,60,72,140 equity shares.

Promoter AMPL exited its entire stake of 29,60,72,140 equity shares, representing 49.51% of the company
Mr. K Rahul Raju has stepped down as the Managing Director effective December 26, 2025
Mr. Uday Shankar Jha has ceased to be the Chairman of the Board effective December 26, 2025
The stake sale was completed during FY 2024-25 via open market transactions and block deals

💡 Investors should exercise caution and monitor the company's next steps regarding the appointment of a new management team. The complete exit of a nearly 50% promoter and the resignation of the MD and Chairman create significant uncertainty regarding future operations.

NFCL MD and Chairman Resign as Promoter AMPL Exits 49.51% Stake

🔵 WATCH ⭐ 9/10

MANAGEMENT 📅 26 Dec 2025, 05:33 PM

Ambika Mercantile Private Limited (AMPL), a major promoter of Nagarjuna Fertilizers and Chemicals Limited (NFCL), has exited its entire investment of 29,60,72,140 equity shares, representing a 49.51% stake in the company. Following this exit, AMPL has withdrawn its nominated directors from the board. Consequently, Mr. K Rahul Raju (Managing Director) and Mr. Uday Shankar Jha (Chairman) have ceased to be members of the Board effective December 26, 2025. This marks a significant shift in the company's leadership and ownership structure.

Promoter AMPL exited its entire 49.51% stake consisting of 29,60,72,140 equity shares.
Managing Director Mr. K Rahul Raju has stepped down effective December 26, 2025.
Chairman Mr. Uday Shankar Jha has stepped down effective December 26, 2025.
The exits follow the withdrawal of nominations by AMPL after its total divestment via open market and block deals.

💡 Investors should exercise caution and monitor the appointment of new leadership to understand the future strategic direction of the company. The complete exit of a major promoter and the top management necessitates a review of the company's stability and governance.

High Court Orders Attachment of NAGAFERT Bank Accounts Above Rs 7 Crore in Tecnimont Dispute

🔴 NEGATIVE ⭐ 9/10

LEGAL 📅 16 Dec 2025, 06:35 PM

The Telangana High Court has issued an interim order directing the provisional attachment of all bank accounts of Nagarjuna Fertilizers and Chemicals Limited (NAGAFERT) for any amount exceeding Rs. 7 crores. This action arises from a long-standing arbitration dispute with M/s. Tecnimont S.p.A. The company has expressed that this attachment severely hampers its daily operations and its ability to fund legal remedies. NAGAFERT is currently preparing an appeal against this order, claiming it is erroneous and fails to consider existing challenges to the case's maintainability.

Telangana High Court ordered provisional attachment of all bank accounts for balances over Rs. 7 crores.
The order stems from execution proceedings (EXEP No. 1 of 2018) filed by M/s. Tecnimont S.p.A.
Management states the order severely impacts operations and renders the company 'handicapped'.
Company is filing an appeal against the interim order dated December 10, 2025.
The dispute involves ongoing arbitration matters under Sections 34 and 37 of the Arbitration Act.

💡 Investors should be extremely cautious as the restriction on bank accounts poses a significant liquidity risk and could disrupt production. Monitor the High Court's decision on the company's appeal closely before making new positions.

View All NAGAFERT Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations for the quarter ended September 30, 2025, was INR 0 Cr, representing a 100% decline as operations were discontinued. In the previous year (FY 2024-25), manufactured Urea sales volume dropped 83.4% from 13.102 LMT to 2.173 LMT due to the sale of core assets.

Geographic Revenue Split

Not disclosed in available documents as operations have been discontinued since June 2024.

Profitability Margins

The company reported a Profit After Tax of INR 2,424.87 Cr for FY 2024-25, compared to a loss of INR 1,283.89 Cr in the previous year. This profit is primarily due to exceptional items including asset sales and debt remission rather than operational efficiency. Net margin is not meaningful due to zero operational revenue in the current period.

EBITDA Margin

Operating Profit before working capital changes was negative INR 396.03 Cr for FY 2024-25. For the half-year ended September 30, 2025, the operating loss was INR 8.41 Cr, reflecting the lack of revenue-generating activities.

Capital Expenditure

Capital expenditure was minimal at INR 0.02 Cr (INR 2.26 Lakhs) in FY 2024-25, down 97.8% from INR 1.04 Cr in the prior year, as the company focused on asset liquidation rather than expansion.

Credit Rating & Borrowing

The company benefited from a 'Remission in Borrowings' of INR 1,340.06 Cr in FY 2024-25 following debt settlements. Finance costs decreased by 87.2% from INR 479.12 Cr to INR 61.33 Cr YoY due to the settlement of debt with lenders.

⚙️ Operational Drivers

Raw Materials

Natural Gas and other inputs for Urea production (historically), but currently 0% of costs as manufacturing has ceased.

Capacity Expansion

Current installed capacity is 0 MTPA for Urea and Micro Irrigation as all core and non-core assets were sold to A M Green Ammonia India Private Limited on May 31, 2024.

Raw Material Costs

Raw material costs were INR 0 for the quarter ended September 30, 2025, due to the total discontinuation of manufacturing operations.

Manufacturing Efficiency

Capacity utilization dropped to 0% following the asset sale in June 2024. Production in FY 2024-25 was only 2.173 LMT before the shutdown.

Logistics & Distribution

Distribution costs have effectively ceased along with the discontinuation of the Urea sales business.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company is currently in a transition phase, having sold its core Urea and Micro Irrigation businesses. The strategy involves exploring entirely new business opportunities to utilize the remaining corporate shell, as there are no remaining revenue-generating assets.

Products & Services

Historically Urea and Micro Irrigation Equipments; currently none.

Brand Portfolio

Nagarjuna Fertilizers (Brand value associated with Urea, though business is sold).

New Products/Services

No new products launched; company is in the 'exploring' phase for new opportunities.

Market Expansion

No active market expansion; the company has exited its primary fertilizer markets.

Market Share & Ranking

The company has exited the Urea market, losing its previous market share entirely.

Strategic Alliances

The company's assets were sold by ACRE (Asset Care & Reconstruction Enterprise) under the SARFAESI Act to A M Green Ammonia India Private Limited.

🌍 External Factors

Industry Trends

The fertilizer industry is moving toward green ammonia (as seen by the buyer of NAGAFERT's assets), but NAGAFERT itself is no longer an active participant in this trend.

Competitive Landscape

The company is no longer a competitor in the fertilizer or micro-irrigation sectors.

Competitive Moat

The company has lost its primary moat (manufacturing infrastructure and distribution network) following the SARFAESI Act asset sale.

Macro Economic Sensitivity

Highly sensitive to government subsidy policies and energy claims, which are currently under consideration and impact the final settlement of liabilities.

Consumer Behavior

Not applicable as there is no consumer-facing business remaining.

⚖️ Regulatory & Governance

Industry Regulations

Operations were governed by the Fertilizer Control Order and subsidy regimes of the Government of India until discontinuation in June 2024.

Taxation Policy Impact

The company reported a current tax liability of INR 1.29 Cr as of March 31, 2025.

Legal Contingencies

The company has disclosed pending litigations in Note 32 of its financial statements. It also faces significant uncertainty regarding energy and other claims from the Government.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the 'Going Concern' status. Auditors have prepared accounts on a 'not a going concern' basis because there are no remaining fixed assets or revenue-generating businesses.