5399172026-01-012026-03-315399172026-03-315399172025-03-315399172025-04-012026-03-315399172026-03-31OtherNoncurrentAssetsDomain15399172026-03-31OtherCurrentFinancialAssetsDomain15399172026-03-31OtherCurrentAssetsDomain15399172026-03-31OtherNoncurrentFinancialLiabilitiesDomain15399172026-03-31OtherCurrentFinancialLiabilitiesDomain15399172026-03-31OtherCurrentLiabilitiesDomain15399172026-01-012026-03-31AuditorDomain1iso4217:INRxbrli:pureiso4217:INRxbrli:shares539917NAGAFERTNOTLISTEDINE454M01024Nagarjuna Fertilizers and Chemicals LimitedMain BoardEquity2025-04-012026-03-312026-06-302026-06-27INRLakhsQuarterlyFourth quarterSingle segmentFERTILIZERS2026-06-3018:00:002026-06-3019:00:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated00000000000000000000015147000151470000151470005980650001000.030.030.030.03-0.0001-0.02420Notes: <BR> 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. <BR> 2) "The Statutory Auditors have carried out Audit of the above financials for the year ended March 31, 2026. <BR> 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. <BR> 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. <BR> 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. <BR> <BR> * - 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. <BR> - 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." <BR> 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. <BR> 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. <BR> 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." <BR> 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. <BR> 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." <BR> 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. <BR> <BR> 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." <BR> <BR> 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. <BR> 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. <BR> 13) The consolidated results include results of associate company KVK Raju International Leadership Ltd. <BR> 14) The figures for the corresponding previous periods have been regrouped, wherever necessary, to make them comparable with those of the current periods. <BR> 2025-04-012026-03-31AuditedConsolidated00000000000000000000000005980650001000-0.26-0.26-0.26-0.26-0.0001-0.0242000000029334000293340004730000135337600081528000151520000864631000231468700051575500028309150002860249000598065000-10016135000-9418070000-9418070000066396800066396800021328000685296000621890002211000113740210001137623200019842000114582630009788400003687600011593023000122783190002860249000Other non-current financial assets29334000Other non-current financial assets864631000Other current assets515755000Other non-current financial liabilities663968000Other current financial liabilities19842000Other current liabilities9788400067376000520220001018959000010688400003015000-23650000-15753330000-16383000-30000005819000-393000-1606000000000000000-356489000-356489000000-239560000-33253300000000000000000000000000000000000000000000130003000006737600000-197379000-5299120000-529912000766585000236673000AuditedtrueM/s. P Murali & Cotrue2026-11-30