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RCF - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.9

Last Updated Time : 19 Mar 26, 07:11 pm

Fundamental Rating: 2.9

Stock Code RCF Market Cap 6,656 Cr. Current Price 121 ₹ High / Low 167 ₹
Stock P/E 21.4 Book Value 89.3 ₹ Dividend Yield 1.09 % ROCE 7.47 %
ROE 5.00 % Face Value 10.0 ₹ DMA 50 129 ₹ DMA 200 141 ₹
Chg in FII Hold 0.19 % Chg in DII Hold 0.08 % PAT Qtr 81.4 Cr. PAT Prev Qtr 106 Cr.
RSI 45.2 MACD -3.74 Volume 23,84,470 Avg Vol 1Wk 54,30,822
Low price 108 ₹ High price 167 ₹ PEG Ratio -0.79 Debt to equity 0.56
52w Index 22.2 % Qtr Profit Var 2.16 % EPS 5.69 ₹ Industry PE 17.9

📊 Core Financials

  • Revenue Growth: Quarterly PAT declined from ₹106 Cr to ₹81.4 Cr (-2.16%), showing weak momentum.
  • Profit Margins: Margins remain modest, reflecting cyclical fertilizer demand.
  • Debt Ratios: Debt-to-equity at 0.56 → moderate leverage.
  • Cash Flows: Stable due to government-backed fertilizer operations, though profitability is inconsistent.
  • Return Metrics: ROE at 5.0% and ROCE at 7.47% → weak efficiency compared to peers.

💹 Valuation Indicators

  • P/E Ratio: 21.4 vs Industry PE of 17.9 → slightly overvalued.
  • P/B Ratio: ~1.36 (Price ₹121 / Book Value ₹89.3) → fair valuation.
  • PEG Ratio: -0.79 → negative, reflecting weak earnings growth outlook.
  • Intrinsic Value: Current price close to fair value, limited upside potential.

🏢 Business Model & Competitive Advantage

  • Rashtriya Chemicals & Fertilizers (RCF) operates in fertilizer and chemical production.
  • Competitive advantage lies in government backing and established distribution network.
  • However, profitability and efficiency remain weak, reducing overall health.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between ₹110 – ₹118 (near support levels).
  • Long-Term Holding: Suitable for dividend-seeking investors (1.09% yield), but growth prospects remain limited.

✅ Positive

  • Government-backed operations ensure stability.
  • FIIs (+0.19%) and DIIs (+0.08%) increased holdings.
  • Dividend yield of 1.09% provides income support.
  • Fair valuation on P/B basis (~1.36).

⚠️ Limitation

  • Weak ROE (5.0%) and ROCE (7.47%).
  • Negative PEG ratio (-0.79) indicates poor growth prospects.
  • Stock trading below DMA50 and DMA200, showing weak momentum.

📉 Company Negative News

  • Quarterly PAT declined (-2.16%).
  • Weak technical indicators (RSI 45.2, MACD -3.74).
  • Stock trading well below 52-week high (₹167 → ₹121).

📈 Company Positive News

  • FIIs and DIIs increased holdings.
  • Dividend yield supports investor confidence.
  • Government backing ensures operational stability.

🏭 Industry

  • Fertilizer industry remains cyclical, driven by agricultural demand and government subsidies.
  • Industry PE at 17.9, showing RCF trades at a slight premium.

🔎 Conclusion

RCF offers stability with government backing and a modest dividend yield, but weak return ratios and limited growth prospects make it less attractive for long-term compounding. Investors may accumulate near support levels for steady dividend income, but should remain cautious of overvaluation and cyclical risks.

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