Integrated Filing — IndAS



General information about company

Scrip Code 539917
NSE Symbol NAGAFERT
MSEI Symbol NOTLISTED
ISIN INE454M01024
Name of company Nagarjuna Fertilizers and 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 30-06-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 27-06-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment FERTILIZERS
Start date and time of board meeting 30-06-2026   18:00:00
End date and time of board meeting 30-06-2026   19:00:00
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 Declaration of unmodified opinion



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 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 0.00 0.00
Other income 0.00 0.00
Total income 0.00 0.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 0.00 0.00
(e) Finance costs 0.00 0.00
(f) Depreciation, depletion and amortisation expense 0.00 0.00
(f) Other Expenses
Total other expenses
Total expenses 0.00 0.00
3 Total profit before exceptional items and tax 0.00 0.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 0.00 0.00
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 0.00 0.00
9 Total tax expenses 0.00 0.00
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 0.00 0.00
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 151.47 0.00
16 Total profit (loss) for period 151.47 0.00
17 Other comprehensive income net of taxes 0.00 0.00
18 Total Comprehensive Income for the period 151.47 0.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 5,980.65 5,980.65
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve 0.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0 0
Diluted earnings (loss) per share from continuing operations 0 0
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0.03 -0.26
Diluted earnings (loss) per share from discontinued operations 0.03 -0.26
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.03 -0.26
Diluted earnings (loss) per share from continuing and discontinued operations 0.03 -0.26
24 Debt equity ratio -0.0100 -0.0100
25 Debt service coverage ratio -2.4200 -2.4200
26 Interest service coverage ratio 0 0
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes: 1) The above statement of Audited Consolidated Financial Results for the quarter ended 31st March 2026 and the year to date for the period 01th April 2025 to 31st March 2026, was reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on June 30, 2026. 2) The Statutory Auditors have carried out Audit of the above financials for the year ended March 31, 2026. 3) Consequent to the settlement of Debt and receipt of sale proceeds from sale of core and non-core assets controlled by ACRE, there are no revenue generating business left with the Company for operations (including land, property plant and equipment) affecting the Going Concern of the Company. Based on the audit findings for FY 2024–25, as the accounts cannot be prepared on a Going Concern basis, the company’s financials have been prepared on a ‘not a going concern’ basis, reflecting discontinued business operations effective from the quarter ended June 30, 2024. This status continues for the year ended March 31, 2026. 4) Without considering the energy and other claims from the Government (which is under consideration) the current liabilities exceed the current assets by about Rs. 87,621.08 Lakhs. The Company is pursuing various subsidy claims with the Government including reimbursement of Energy consumed, AP State Electricity Duty paid and IGST etc., the funds from these claims if and when received will be used for the settlement of the recognized, reconciled liabilities which are not being contested. 5) There are various claims and reliefs against the company. These are not acknowledged as debts as they are disputed in various forums, courts, appeals, including arbitration awards amounting to around Rs 1278.26 crores*. These claims / contingent liabilities stated above are not confirmed as dues but recorded as disputes. Amongst them, the major are Water cess (Rs 591.27 Crores), Arbitration awards which includes (Trammo (Rs. 165.20 Crores) Tecnimont (Rs.47.28 Crores) PIPL* (Rs.49.71 cores) and Anand Bharti claim (Rs. 21.63 crores) etc. * - The amount of Rs 1278.26 Crores is an approximate amount and can change upward or downwards basis reconciliation and reliefs granted after negotiation / settlement. - The appeal filed by the company under section 34 of Arbitration and conciliation Act, 1996 read with commercial court Act, 2015, against the Arbitration Award passed in favor of Pipeline lnfrastructure Ltd, has been dismissed by Hon'ble High Court Bombay. The company is appealing against the order, under section 37 of the Arbitration and Conciliation Act, 1996. 6) As per Office Memorandum’s (OM) issued by DoF (MoCF) which is the basis of gas supply by GAIL since 2018, the Company owes to GAIL towards supply of gas Rs. 467 Crores, after adjusting deposit with GAIL of Rs. 85.50 Crores and the interest already recovered Rs. 301 Crores. In contradiction to the Government Arrangement, GAIL has been claiming interest which is not provided in OM and has been adjusting gas payments towards interest. The company is disputing all interest claims amounting to Rs. 597 Crores (adjusted Rs. 301 Crores by GAIL and new claims Rs. 296 Crores till 31st March 2026). The company will appropriately make accounting entries for the adjusted interest and deposit with GAIL. 7) Claims Against GAIL: NFCL a profitable and growing company till 2014 went into financial stress, defaulted on debt, eventually lost its assets and business on accounts of GAILs gross negligence in operating and maintaining its gas pipelines. NFCL had lost the GAIL arbitration case in 2023. The company filed an application under section 34 of Arbitration and Conciliation Act 1996 which is pending adjudication in Delhi High Court since 2023. Since 2024 NFCL is not a going concern and the company’s accounts have been drawn up accordingly as a non-going concern. Given the financial situation NFCL assigned its rights in favour of AMPL to represent it in all legal forums/proceedings to pursue claims from GAIL including Arbitration claim in its name as an assignee along with agency coupled with interest under the provisions of Indian Contract Act, 1872. Should GAIL satisfy the award in the future, from the net proceeds, NFCL shall use the award as it deems fit after clearing its liabilities. AMPL has since exited its investments in NFCL and presently Agrivestors the promoter of NFCL is perusing the case. 8) Claim by GAIL: GAIL has filed a petition under section 9 of Arbitration and Conciliation Act, 1996, in Hon’ble Hight Court of Delhi, seeking relief for their outstanding dues sighting novated clauses of the gas agreements. The Company is contesting the case disputing the total claim of GAIL stating that GAIL has stopped supplies in 2018 as the company was unable to comply with the gas supply agreement clauses (as regards security and payment terms) and GAIL resumed supplies only after intervention of DoF, MoCF, GoI assuring GAIL on payments and payment security via Office Memorandum (OM). Accordingly, the commercial contractual security and payment terms between NFCL and GAIL, with respect to payment and security clauses, were superseded and therefore novated by the issuance of OM and execution and operationalization of escrow arrangement as per the OM terms. The Government did not agree to pay GAIL within a specified period nor did it agree to reimburse GAIL of any interest as can be clearly seen in the Office Memorandum (OM) of DOF, basis of which GAIL resumed the gas supply in public interest in December, 2018, securitized through subsidy escrow arrangement / escrow mechanism. GAIL sought extension and modification of Government's Office Memoranda (OMs) from time to time to secure gas supplies. GAIL was fully aware of the impossibility of the company complying with the security and payment terms in gas supply agreement since 2018 and has communicated in writing in various legal forums and with DoF that it started supplies only after security and assurances of payment from DoF. Despite this GAIL has adjusted payments/recovered interest since 2018 and also raising claims for interest post the sale of assets on the amounts due. The company is disputing security and interest being claimed by of GAIL, with GAIL, DoF and in Legal Forums. NFCL has never assumed any responsibility for delays in subsidy processing, payments to escrow account nor for reimbursement of interest on delayed processing/payment by Government to Escrow Account. As and when the payments are released by DoF into the Escrow Account GAIL will get paid. 9) The Company has been using the Nagarjuna Brand / Trademarks for its urea and other products under a License Agreement Dt 29/01/1998 with the grantor, a related party. The company, during the period ended on 31.12.2021, received a claim from the grantor asserting its right to royalty for the period from 29/01/1998. NFCL acknowledges the contract and liability. The company agreed without prejudice to the rights of AMPL to settle the claims in a manner such that the dues are secured and paid/deducted on a priory basis. The Dolaramudu trademark/mascot being used by the Group and by NFCL in urea packaging. After the government letter dated August 18, 2023, on One Nation One Fertilizers by introducing Single Brand for fertilizers and Logo under fertilizer subsidy scheme, the company has discontinued use of trademark and did not renew the trademark. The group agreed to continue the trademark. Based on the agreed terms with NACL the company has written to NACL to stop utilizing the groups trademarks vide letter dated 28th May 2025, after hearing news that there is a change in company ownership and management. The grantor has submitted its claim towards royalty payment for an amount of Rs. 836.67 crores (principal and interest) as on March 31, 2021, as per License Agreement, with the Interim Resolution Professional appointed by Hon’ble NCLT, Hyderabad Bench, when the company was admitted to NCLT under Insolvency and Bankruptcy Code, 2006, in 2021. 10) Government of India announced New Urea Policy (NUP)-2015 and Gas Pooling Policy for Fertilizer (Urea) Sector which are effective from 1st June 2015 to 31st March 2019. Government of India extended the NUP -2015 from 1st April 2019 until further orders. Income from Urea Operations has been recognized in accordance with the said policies. Income towards freight subsidy, Reimbursement claims towards additional fixed cost, Input escalation / de-escalation, have been recognized during the Quarter ended on March 31, 2026, in terms of the said policies. The Subsidy income is recognised based on the notified Gas Pool prices for the time being in force and upon final notification of the prices the escalation / de-escalations are accounted for in the year in which these notifications are issued. During the year under review, the annual gas pool prices were notified for the year 2022-23 and 2023-24 amounting to Rs 868.88 Lakhs which have been accounted for and the corresponding impact on subsidy credit of Rs 653.29 Lakhs is also accounted. 11) The Company has dealer deposits, credit notes and trade advances in its books. Certain dealers have assigned their liabilities to 3rd parties and basis reconciliation appropriate entries would be passed as per extant guidelines. 12) The Company has received certain claims from parties for settlement of dues including rentals (totaling Rs 41,86,02,859). The Company shall account for the same appropriately. 13) The consolidated results include results of associate company KVK Raju International Leadership Ltd. 14) The figures for the corresponding previous periods have been regrouped, wherever necessary, to make them comparable with those of the current periods.



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 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 0.00
Capital work-in-progress
Investment property
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets
Total of other non-current financial assets
Total non-current financial assets 0.00
Deferred tax assets (net)
Other non-current assets
1 Other non-current financial assets 293.34
Total of other non-current assets 293.34
Total non-current assets 293.34
2 Current assets
Inventories 4.73
Current financial asset
Current investments 0.00
Trade receivables, current 13,533.76
Cash and cash equivalents 815.28
Bank balance other than cash and cash equivalents 151.52
Loans, current 0.00
Other current financial assets
Total of other current financial assets 8,646.31
Total current financial assets 23,146.87
Current tax assets (net)
Other current assets
1 Other current assets 5,157.55
Total of other current assets 5,157.55
Total current assets 28,309.15
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 28,602.49
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 5,980.65
Other equity (1,00,161.35)
Total equity attributable to owners of parent (94,180.70)
Non controlling interest
Total equity (94,180.70)
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
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
1 Other non-current financial liabilities 6,639.68
Total of other non-current financial liabilities 6,639.68
Total non-current financial liabilities 6,639.68
Provisions, non-current 213.28
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 6,852.96
Current liabilities
Current financial liabilities
Borrowings, current 621.89
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 22.11
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,13,740.21
Total Trade payable 1,13,762.32
Other current financial liabilities
1 Other current financial liabilities 198.42
Total of other current financial liabilities 198.42
Total current financial liabilities 1,14,582.63
Other current liabilities 978.84
1 Other current liabilities 978.84
Total of other current liabilities 978.84
Provisions, current 0.00
Current tax liabilities (Net) 368.76
Deferred government grants, Current
Total current liabilities 1,15,930.23
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 1,22,783.19
Total equity and liabilites 28,602.49
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 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
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 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
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
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
5 Total Other comprehensive income



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 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 0.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 673.76
Adjustments for decrease (increase) in inventories 520.22
Adjustments for decrease (increase) in trade receivables, current 10,189.59
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 1,068.84
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 30.15
Adjustments for other financial assets, current (23.65)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (15,753.33)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (163.83)
Adjustments for increase (decrease) in other non-current liabilities (0.30)
Adjustments for depreciation and amortisation expense 0.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 58.19
Adjustments for provisions, non-current (3.93)
Adjustments for other financial liabilities, current (160.60)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
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) 0.00
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) (3,564.89)
Net cash flows from (used in) operations (3,564.89)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) (239.56)
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (3,325.33)
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 0.00
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 0.00
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 0.00
Interest received 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities 0.00
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 1,300.03
Payments of lease liabilities 0.00
Dividends paid 0.00
Interest paid 673.76
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (1,973.79)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (5,299.12)
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 (5,299.12)
Cash and cash equivalents cash flow statement at beginning of period 7,665.85
Cash and cash equivalents cash flow statement at end of period 2,366.73





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M/s. P Murali & Co Yes 30-11-2026