Integrated Filing — IndAS



General information about company

Scrip Code 500690
NSE Symbol GSFC
MSEI Symbol NOTLISTED
ISIN INE026A01025
Name of company GUJARAT STATE FERTILIZERS & CHEMICALS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 11-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 15-10-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 11-11-2025   17:20:00
End date and time of board meeting 11-11-2025   18:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 3,18,737.00 5,37,178.00
Other income 14,297.00 18,472.00
Total income 3,33,034.00 5,55,650.00
2 Expenses
(a) Cost of materials consumed 1,31,094.00 2,56,855.00
(b) Purchases of stock-in-trade 59,543.00 99,011.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 27,570.00 2,087.00
(d) Employee benefit expense 19,307.00 36,941.00
(e) Finance costs 179.00 933.00
(f) Depreciation, depletion and amortisation expense 5,053.00 9,813.00
(f) Other Expenses
1 Power and Fuel 22,999.00 44,224.00
2 Other expenses 24,562.00 45,112.00
Total other expenses 47,561.00 89,336.00
Total expenses 2,90,307.00 4,94,976.00
3 Total profit before exceptional items and tax 42,727.00 60,674.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 42,727.00 60,674.00
6 Tax expense
7 Current tax 9,257.00 12,941.00
8 Deferred tax 1,181.00 2,086.00
9 Total tax expenses 10,438.00 15,027.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 32,289.00 45,647.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 122.00 624.00
16 Total profit (loss) for period 32,411.00 46,271.00
17 Other comprehensive income net of taxes (42,315.00) 6,328.00
18 Total Comprehensive Income for the period (9,904.00) 52,599.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 32,407.00 46,262.00
Total profit or loss, attributable to non-controlling interests 4.00 9.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent (9,904.00) 52,590.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 4.00 9.00
21 Details of equity share capital
Paid-up equity share capital 7,970.00 7,970.00
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 8.13 11.61
Diluted earnings (loss) per share from continuing operations 8.13 11.61
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 8.13 11.61
Diluted earnings (loss) per share from continuing and discontinued operations 8.13 11.61
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The above standalone and consolidated financial results of the Company have been prepared in accordance with the Indian Accounting Standards (lnd AS) as prescribed under section 133 of the Companies Act. 2013 read with the Companies (Indian Accounting Standards) Rules. 2015, as amended from time to time. 2. The Consolidated Financial Results for quarter ended 30th September, 2025 include results of Subsidiaries- GSFC Agrotech Ltd, Vadodara Jal Sanchay Private Limited, Gujarat Port and Logistics Company Limited, Associate companies- Gujarat Green Revolution Company Limited, Vadodara Enviro Channel Ltd and Karnalyte Resources Inc. 3. Limited Review of the unaudited financial results for the quarter ended 30th September, 2025 has been carried out by the Statutory Auditors. 4. Previous period figures have been re-grouped I re-classified wherever necessary. 5.The above financial results have been reviewed by the Finance-Cum-Audit Committee and approved by the Board of Directors at their meetings held on 10th November 2025 & 11th November, 2025 respectively.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 2,86,982.00
Capital work-in-progress 42,271.00
Investment property 0.00
Goodwill 0.00
Other intangible assets 467.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 5,13,519.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 8,479.00
Total non-current financial assets 5,21,998.00
Deferred tax assets (net) 0.00
Other non-current assets 35,157.00
Total non-current assets 8,86,875.00
2 Current assets
Inventories 1,54,785.00
Current financial asset
Current investments 0.00
Trade receivables, current 2,14,968.00
Cash and cash equivalents 51,994.00
Bank balance other than cash and cash equivalents 31,397.00
Loans, current 28,559.00
Other current financial assets 72,973.00
Total current financial assets 3,99,891.00
Current tax assets (net) 0.00
Other current assets 35,350.00
Total current assets 5,90,026.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 14,76,901.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 7,970.00
Other equity 12,38,546.00
Total equity attributable to owners of parent 12,46,516.00
Non controlling interest 1,094.00
Total equity 12,47,610.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 43.00
Total non-current financial liabilities 43.00
Provisions, non-current 42,312.00
Deferred tax liabilities (net) 48,897.00
Deferred government grants, Non-current 0.00
Other non-current liabilities 1,033.00
Total non-current liabilities 92,285.00
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 2,109.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 67,647.00
Total Trade payable 69,756.00
Other current financial liabilities 39,549.00
Total current financial liabilities 1,09,305.00
Other current liabilities 7,787.00
Provisions, current 11,157.00
Current tax liabilities (Net) 8,757.00
Deferred government grants, Current 0.00
Total current liabilities 1,37,006.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 2,29,291.00
Total equity and liabilites 14,76,901.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 FERTILIZER PRODUCTS 2,56,932.00 4,20,084.00
2 INDUSTRIAL PRODUCTS 61,805.00 1,17,094.00
Total Segment Revenue 3,18,737.00 5,37,178.00
Less: Inter segment revenue 0.00 0.00
Revenue from operations 3,18,737.00 5,37,178.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 FERTILIZER PRODUCTS 22,938.00 36,572.00
2 INDUSTRIAL PRODUCTS 5,392.00 7,864.00
Total Profit before tax 28,330.00 44,436.00
i. Finance cost 179.00 933.00
ii. Other Unallocable Expenditure net off Unallocable income (14,698.00) (17,795.00)
Profit before tax 42,849.00 61,298.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 FERTILIZER PRODUCTS 5,52,713.00 5,52,713.00
2 INDUSTRIAL PRODUCTS 2,32,790.00 2,32,790.00
Total Segment Asset 7,85,503.00 7,85,503.00
Un-allocable Assets 6,91,398.00 6,91,398.00
Net Segment Asset 14,76,901.00 14,76,901.00
4 Segment Liabilities
Segment Liabilities
1 FERTILIZER PRODUCTS 1,12,263.00 1,12,263.00
2 INDUSTRIAL PRODUCTS 41,609.00 41,609.00
Total Segment Liabilities 1,53,872.00 1,53,872.00
Un-allocable Liabilities 75,419.00 75,419.00
Net Segment Liabilities 2,29,291.00 2,29,291.00
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 49,387.00 (7,386.00)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss (7,072.00) 1,058.00
5 Total Other comprehensive income (42,315.00) 6,328.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 60,674.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 654.00
Adjustments for decrease (increase) in inventories (6,856.00)
Adjustments for decrease (increase) in trade receivables, current 496.00
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 4,034.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 9,961.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 38.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (38.00)
Adjustments for dividend income 10,611.00
Adjustments for interest income 5,729.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) (401.00)
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (8,452.00)
Net cash flows from (used in) operations 52,222.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 7,130.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 45,092.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 22,799.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 3.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 10,624.00
Interest received 10,959.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (1,213.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 0.00
Dividends paid 19,775.00
Interest paid 654.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (20,429.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 23,450.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 23,450.00
Cash and cash equivalents cash flow statement at beginning of period 28,544.00
Cash and cash equivalents cash flow statement at end of period 51,994.00