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National Fertilizers Limited: Business Overview, Financials & Competitive Analysis

National Fertilizers Limited (NFL) is an Indian central public sector undertaking and the largest government-owned-Urea fertilizer-producer in India. It is a Navratna company, with the Government of India owning a maj...

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5/ 10Mixed

Cyborg Score thesis

Government-backed fertilizer CPSE with solid market position but challenged by low returns and commodity exposure; execution on...

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Industry Agricultural Inputs / Fertilizers / Chemicals
4 named competitors
4 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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National Fertilizers Limited Overview

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National Fertilizers Limited (NFL) is an Indian central public sector undertaking and the largest government-owned-Urea fertilizer-producer in India. It is a Navratna company, with the Government of India owning a majority stake. The company serves India's agricultural sector through an integrated business model spanning manufacturing, marketing, and distribution.

Strategic Profile

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The company is the largest urea producer amongst CPSEs in India, and the 2nd largest Urea player in India with a 12% share in the country's total production. NFL is engaged in manufacturing and marketing of urea, Neem-coated urea, bio-fertilizers (solid and liquid) and other allied industrial products like ammonia, nitric acid, ammonium nitrate, sodium nitrite, sodium nitrate etc. Strategic expansions include joint ventures for new ammonia-urea capacity and recent approvals for Bentonite Sulphur production.

Competitive Landscape

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NFL is the second largest producer of the key fertiliser urea in India. Primary competitors include Rashtriya Chemicals & Fertilizers (RCF), Indian Potash Limited, and private players like Coromandel International and Chambal Fertilisers. NFL's competitive advantage lies in state ownership, integrated value chain, and branded products under the KISAN brand, though it faces margin pressure from commodity cycles and regulatory pricing constraints.

Industry Context

National Fertilizers Limited operates in Agricultural Inputs / Fertilizers / Chemicals.

Key facts

Founded: 1974 · Headquarters: Noida, Uttar Pradesh, India · Employees: 2,511 · Revenue: ₹6,763 Cr (Q2 FY26; 9M FY26 estimated ₹10,500+ Cr) · Market cap: ₹3,798 Cr (~$456M)

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on National Fertilizers Limited.

  • The company is the second largest producer of the key fertiliser Urea in India with an installed capacity of 35.68 Lakh MT with a 16% share in total urea production of country.
  • Board in-principle approved 25,000 MTPA Bentonite Sulphur plant at Vijaipur; project cost Rs.104.03 crore (13 Feb 2026).
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Recent developments

Material events tracked by the AskCyborg corpus.

  • Feb 2026Board approved 25,000 MTPA Bentonite Sulphur plant at Vijaipur with ₹104.03 crore investment
  • Feb 2026Q3 FY26 EBITDA margin improved to 4.3% YoY; unaudited results recognized ₹146,395 lakh subsidy
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Coromandel InternationalLeading integrated fertilizer & agrochemical company with strong margin profile→Chambal FertilisersDiversified fertilizer manufacturer with focus on complex fertilizers→Rashtriya Chemicals & FertilizersState-owned competitor producing urea and complex fertilizers→Indian Potash LimitedCPSE focused on potassium-based fertilizers and mining→

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Industry context

National Fertilizers Limited operates in Agricultural Inputs / Fertilizers / Chemicals. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does National Fertilizers Limited do?+
National Fertilizers Limited (NFL) is an Indian central public sector undertaking and the largest government-owned-Urea fertilizer-producer in India. It is a Navratna company, with the Government of India owning a maj...
What is National Fertilizers Limited's Cyborg Score?+
National Fertilizers Limited has a Cyborg Score of 5/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are National Fertilizers Limited's main competitors?+
Named competitors include Coromandel International, Chambal Fertilisers, Rashtriya Chemicals & Fertilizers, Indian Potash Limited. The full competitive landscape is in the AskCyborg report.
How can I get the full National Fertilizers Limited research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the National Fertilizers Limited research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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