GSFC Ltd
Fertilizers
FV – Rs 2; 52wks H/L –98.7/57.65; TTQ – 4.34 Lacs; CMP – Rs 97.05 (As On October 21st 2016; 11.00);

Market Cap – Rs3857 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)

Equity Capital	Net worth	Long Term Debt	Total Sales	PAT	BV (Rs)	EPS (Rs)	P/E	Industry P/E	P/BV	Promoter’s Stake	Beta
79.7	4787	106	6228	387.43	120	9.72	9.98	20.40	0.81	37.84	1.08

Standalone Financials and Valuations for Q1 FY17

Equity Capital	Net worth	Total Sales	PAT	BV (Rs)	TTM EPS (Rs)	TTM P/E	Industry P/E	P/BV	Promoter’s Stake	Beta
79.7	4787	1082	46.30	120	1.16	83.7	20.40	0.81	37.84	1.08

*In Sept,2012 there was a stock split from Rs.10 to Rs.2 per share.

Valuation Parameters:

GSFC is India’s largest producer of the chemical Caprolactam and also has a leading position in the complex fertiliser.

Gujarat State Fertilisers and Chemicals Ltd explores setting up urea plant in Congo. (1.3 million tonne urea plant in Iran and a consortium of Indian fertiliser firms has shortlisted Iran’s Falat Group Co. to set the Rs.5,000 crore joint venture (JV) urea manufacturing plant. )

Urea manufacturing plants have made the record production of 411431 tonnes during FY 2015-16.

Overview:

Established in the year 1962, Gujarat State Fertilizers and Chemicals Limited is a leading fertilisers and industrial chemical products manufacturer.
The Company is engaged in manufacturing and marketing fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.
GSFC operates in two segments: Fertilizer Products and Industrial Products.
Its fertilizer products include urea, ammonium sulphate, di-ammonium phosphate, ammonium phosphate sulphate, nitrogen phosphorus and potassium (NPK) and traded fertilizer products.
GSFC Industrial Products include caprolactam, nylon-6, nylon filament yarn, nylon chips, melamine, polymer products and traded industrial products.
Manufacturing facilities of the Company are located at Vadodara, Surat and Jamnagar in Gujarat.

Projects Under Execution:

Projects Under consideration:

Management:

The Equity Capital is @ Rs 79.7 Crs consisting of 398477530 equity Shares of FV Rs 2 currently held as under

None Of the Promoter’s Holding is pledged.

Major Non-Promoter Holdings:

Sr.No	Non – Promoters	No. of shares held	% of shares held
1	Reliance Capital Trustee Company Limited A/C Reliance Growth Fund	11922972	2.99
2	Ghi Ltp Ltd	6114648	1.53
3	Government Pension Fund Global	6903901	1.73
4	Fidelity Puritan Trust-Fidelity Low-Priced Stock Fund	31500000	7.91
5	Life Insurance Corporation Of India	31778658	7.98
6	Gujarat Mineral Development Corporation Ltd	5000000	1.25
7	Gujarat Narmada Valley Fertilizers Company Limited	7500000	1.88
8	Gujarat Alkalies And Chemicals Limited	7500000	1.88

Snapshot of Prices since 2000 :

Consolidated Financial Trends (In Rs. Crs) :