National Fertilizers Reports Narrower Q2 FY26 Loss Despite Revenue Surge
National Fertilizers Limited (NFL) reported a standalone net loss of ₹10.21 crore for Q2 FY 2025-26, an improvement from the ₹40.84 crore loss in the previous quarter. The company recognized subsidy income of ₹901.40 crore on DAP & TSP fertilizers. For the half-year, NFL posted a standalone net loss of ₹42.34 crore and subsidy income of ₹926.89 crore. The Board approved a final dividend of ₹1.56 per share for FY 2024-25. NFL also entered into a joint venture agreement for Assam Valley Fertilizer and Chemical Company Limited with an 18% equity holding.

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National Fertilizers Limited (NFL), a key player in India's fertilizer sector, has reported a narrower loss for the second quarter of fiscal year 2025-26, despite a significant increase in revenue. The company's financial results highlight both challenges and improvements in its operations.
Financial Performance
NFL reported a standalone net loss of ₹10.21 crore for the quarter ended September 30, 2025, showing a significant improvement from the ₹40.84 crore loss recorded in the previous quarter. This reduction in losses indicates the company's efforts to enhance its financial position.
The company recognized subsidy income of ₹901.40 crore for the quarter on DAP & TSP fertilizers based on operational guidelines from the Department of Fertilizers for Kharif 2025.
Half-Year Performance
For the half-year period, NFL's financial results show:
| Metric | Amount (₹ crore) |
|---|---|
| Standalone net loss | 42.34 |
| Subsidy income | 926.89 |
The consolidated results showed a net loss of ₹5.80 crore for the quarter and ₹75.25 crore for the half-year.
Dividend and Strategic Developments
NFL's Board approved a final dividend of ₹1.56 per share for FY 2024-25, which was paid in October 2025, demonstrating the company's commitment to shareholder returns despite challenging financial conditions.
In a strategic move, National Fertilizers entered into a joint venture agreement for Assam Valley Fertilizer and Chemical Company Limited with an 18% equity holding. This partnership could potentially strengthen NFL's market position and operational capabilities in the future.
Outlook
While National Fertilizers has managed to narrow its losses and benefit from subsidy income, the company still faces challenges in achieving profitability. The effectiveness of the joint venture and the company's ability to leverage subsidy support may be crucial for its future performance.
Investors and market observers will likely be watching NFL's strategies to improve its profit margins and capitalize on strategic partnerships in the coming quarters.
Historical Stock Returns for National Fertilizers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.43% | -2.77% | -1.02% | +5.77% | -18.56% | +177.46% |













































