5006702026-01-012026-03-315006702026-03-315006702025-03-315006702025-04-012026-03-315006702026-01-012026-03-31in-capmkt:OtherExpenses1Member5006702026-01-012026-03-31in-capmkt:OtherExpenses2Member5006702025-04-012026-03-31in-capmkt:OtherExpenses1Member5006702025-04-012026-03-31in-capmkt:OtherExpenses2Member5006702026-03-31OtherNoncurrentFinancialAssetsDomain15006702026-03-31OtherNoncurrentAssetsDomain15006702026-03-31OtherCurrentFinancialAssetsDomain15006702026-03-31OtherCurrentAssetsDomain15006702026-03-31OtherNoncurrentFinancialLiabilitiesDomain15006702026-03-31OtherCurrentFinancialLiabilitiesDomain15006702026-03-31OtherCurrentLiabilitiesDomain15006702026-01-012026-03-31in-capmkt:ReportableSegments1Member5006702026-01-012026-03-31in-capmkt:ReportableSegments2Member5006702026-01-012026-03-31in-capmkt:ReportableSegments3Member5006702025-04-012026-03-31in-capmkt:ReportableSegments1Member5006702025-04-012026-03-31in-capmkt:ReportableSegments2Member5006702025-04-012026-03-31in-capmkt:ReportableSegments3Member5006702026-01-012026-03-31in-capmkt:ReportableSegments1Member5006702026-01-012026-03-31in-capmkt:ReportableSegments2Member5006702026-01-012026-03-31in-capmkt:ReportableSegments3Member5006702025-04-012026-03-31in-capmkt:ReportableSegments1Member5006702025-04-012026-03-31in-capmkt:ReportableSegments2Member5006702025-04-012026-03-31in-capmkt:ReportableSegments3Member5006702026-01-012026-03-31in-capmkt:ReportableSegments1Member5006702026-03-31in-capmkt:ReportableSegments1Member5006702026-01-012026-03-31in-capmkt:ReportableSegments2Member5006702026-03-31in-capmkt:ReportableSegments2Member5006702026-01-012026-03-31in-capmkt:ReportableSegments3Member5006702026-03-31in-capmkt:ReportableSegments3Member5006702026-01-012026-03-31in-capmkt:ReportableSegments1Member5006702026-03-31in-capmkt:ReportableSegments1Member5006702026-01-012026-03-31in-capmkt:ReportableSegments2Member5006702026-03-31in-capmkt:ReportableSegments2Member5006702026-01-012026-03-31in-capmkt:ReportableSegments3Member5006702026-03-31in-capmkt:ReportableSegments3Member5006702026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15006702026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25006702025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15006702025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss25006702026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares500670GNFCNOTLISTEDINE113A01013GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LIMITEDMain BoardEquity2025-04-012026-03-312026-05-182026-05-04INRCroresQuarterlyFourth quarterMulti segment2026-05-1815:00:002026-05-1817:15:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated22080000000125000000023330000000100300000001500000002300000001240000000200000007900000005610000000180700000005260000000052600000001410000000-70000000134000000003920000000000400000003960000000-6700000003290000000000014700000001026.9426.940026.9426.941. The above standalone and consolidated financial results of the Company have been prepared in accordance with the Indian Accounting Standards ("Ind 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. <BR> 2. The above standalone and consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on MAy 18, 2026. <BR> 3.During the quarter ended September 30, 2022, the Company has received updated Demand Notice of Rs. 21370 Crores (including interest and penalty computed till November 30, 2021) from the Department of Telecommunications (DoT), Ministry of Communications, Government of India, Gujarat Telecom Circle, Ahmedabad, vide its letters dated July 15, 2022 towards the license fee in respect of Very Small Aperture Terminal (V-SAT) License and Category A - Internet Service Provider (ISP) License for the financial years from FY 2005-06 to FY 2019-20. Earlier, the Company had also received an initial Demand Notice from DOT dated March 05, 2020 and December 23, 2019 for amounting to Rs. 16359 Crores and Rs. 15020 Crores, respectively (including interest and penalty). The Company has made representations to the DoT against the said demand notices. The Company has evaluated the assessment made by DoT for raising the above demand notices based on the Adjusted Gross Revenue (AGR) judgement of Hon'ble Supreme Court of India on October 24, 2019. Aggrieved by the above demands, the Company had submitted various representations dated January 06, 2020, February 21, 2020, April 03, 2020 and March 04, 2022 to the DoT requesting reconsideration and withdrawal of the Demands raised by the DoT including the revenues of the Company from Fertilizers and Chemicals Business which is completely unconnected to VSAT and ISP Licenses. Hon'ble Supreme Court vide its Order dated June 11, 2020 directed DoT to reconsider the demand raised on Public Sector Undertakings ("PSUs"), which are not in business of mobile services to the general public. The Telecom Disputes Settlement & Appellate Tribunal (TDSAT), in its Order dated 28th February, 2022 in the case of Netmagic Solutions Pvt. Ltd., a private limited company, held that there is no scope to differentiate between two sets of licensees having same or similar Licenses only on the basis of their ownership, private or public and set aside the demand raised by the DoT.Based on the legal assessment in consultation with Senior Advocates, the Company believes that it has strong grounds on merits to contest the demand raised by the DoT and defend itself in the matter, hence no provision is considered necessary in these financial results. As at reporting date, the Company has not received any further update from DoT regarding these demand notices. <BR> 4. Other income for the year ended March 31, 2025 includes Rs 3.06 Crores received from IL&FS Financial Services Limited as interim distribution towards investments in its non-convertible debentures and Rs 3.56 Crores received from Reliance Capital as full & final distribution towards investments in its non-convertible debentures. The Company had already made good the loss while transferring the PF corpus to the Employees’ Provident Fund Organisation (EPFO) by considering the fair value of securities at Rs. 1 each and therefore, the aforesaid receipt has been recorded as income of the Company. <BR> 5. Employee benefits expense for previous quarter and year ended March 31, 2026 includes reversal impact of Rs. 5.97 crores being excess liability related to FY 2024-25. Further, figures for the year ended March 31, 2025 includes reversal impact of Rs. 14.17 crores being excess liability related to FY 2023-24. <BR> 6. On November 21, 2025, the Government of India notified the four Labour codes - The code on Wages, 2019, The Industrial Relations code, 2020, The code on Social Security, 2020 and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. The Company has assessed the impact of these changes on the basis of internal assessment with guidance provided by the Institute of Chartered Accountants of India. Accordingly, the Company has estimated and recognised past service cost towards incremental obligation in gratuity and leave encashment aggregating to Rs. 3.12 crores based on the best available information and review of the existing wage structure, which is included in Employee Benefits Expense for the quarter and year ended March 31, 2026. The Company continues to monitor the finalisation of Central / State Rules and any clarifications from the Government on other aspects of the New Labour Codes and would provide appropriate accounting effect in the relevant period on the basis of such developments as needed. <BR> 7. The Board of Directors has recommended a dividend of Rs. 21 per equity share of Rs. 10 each (i.e. 210%) for the year ended March 31, 2026, subject to the approval of shareholders in ensuing Annual General Meeting. <BR> 8. The figures of the current quarter ended March 31, 2026 and corresponding quarter ended March 31, 2025 are the balancing figures between audited figures in respect of the full financial year ended March 31, 2026 and March 31, 2025 and the unaudited published year to date figures upto December 31, 2025 and December 31, 2024 respectively being the date of the end of the third quarter of the respective financial year which were subjected to limited review. <BR> 9. As per the directives issued by Department of Fertilizers (DoF) for evaluation of reasonableness of MRP of P & K fertilizers under the NBS policy, every Company needs to report P & K fertilizers as a separate segment in Annual Audited Accounts. Accordingly, in accordance with Ind AS 108 for FY 25-26 the P & K Fertilizers Revenue is reported at Rs. 719 Crores and Result is reported at Rs. (40) Crores. <BR> 10. Manufacturing facilities of the Company at Bharuch had undergone planned annual shutdown for the period of 18 days (i.e. from 01.04.2025 to 18.04.2025). Hence the year ended figures of current year are not comparable with previous year ended figures to that extent. <BR> 11. The Consolidated Financial Results includes results of an Associate Company "Gujarat Green Revolution Company Limited" in accordance with Ind AS 110 "Consolidated Financial Statements" and Ind AS -28 "Investments in Associates and Joint Ventures".' <BR> 12. Figures in the results are rounded off to the nearest Rs Crore, except Earnings Per Share. <BR> 13. Previous period / year figures have been re-grouped / re-classified / re-casted wherever considered necessary to conform with the current period presentation2025-04-012026-03-31AuditedConsolidated777300000004990000000827200000003915000000049000000097000000054000000006000000030700000002293000000072070000000106500000000106500000003120000000-4400000002680000000079700000000001100000008080000000-40000000804000000000001470000000108968000000054.9754.970054.9754.97Power, fuel and other utilities3680000000Other expenses1930000000Power, fuel and other utilities15060000000Other expenses787000000025950000000900000000035000000003700000000009970000000017100000002100000001189000000004520000000520800000001018000000069500000006410000000740000000103500000002431000000013900000005015000000001180000000615100000000011359000000014700000008968000000091150000000091150000000000040000000400000005970000000208000000039400000001203000000002600000004280000000454000000036200000008160000000118000000038000000080000000610000000104100000000022440000000113590000000Other non-current financial assets210000000Other non-current assets4520000000Other current financial assets1390000000Other current assets1180000000Other non-current financial liabilities40000000Other current financial liabilities3620000000Other current liabilities1180000000Fertilizers6720000000Chemicals14970000000Others390000000Fertilizers27640000000Chemicals48990000000Others11000000002208000000077730000000002208000000077730000000Fertilizers-240000000Chemicals4630000000Others180000000Fertilizers-1860000000Chemicals9130000000Others460000000457000000077300000002000000060000000-710000000-2980000000526000000010650000000Fertilizers21470000000Chemicals27910000000Others15000000005088000000062710000000113590000000Fertilizers11190000000Chemicals5980000000Others115000000018320000000412000000022440000000500000002330000000-22200000000-72000000000-2000000000-21000000000030700000000330000000-100000000-400000000-11000000024000000031300000000003000000002500000000-91000000097400000000003200000000065400000000003600000000000054600000000000000000000000024000000032900000000-20000000-2310000000000000000002600000000500000000-40000000-2690000000154000000001540000000-800000000740000000Re-measurement gain / (loss) on defined benefit plan240000000Net gain / (loss) on FVTOCI equity investments-900000000-660000000Re-measurement gain / (loss) on defined benefit plan590000000Net gain / (loss) on FVTOCI equity investments-4500000001400000001000000018000000000-670000000-40000000AuditedtrueM/s Suresh Surana & Associates LLPtrue2028-03-31