Rashtriya Chemicals Releases Quarterly Results; Board Approves Up To ₹1100 Crore Debt Issuance Capacity

Rashtriya Chemicals Releases Quarterly Results; Board Approves Up To ₹1100 Crore Debt Issuance Capacity​

Rashtriya Chemicals and Fertilizers Limited (RCF), a Government of India undertaking, announced its unaudited financial results for the quarter ended June 30, 2026. The company’s management reviewed these results, which reflect operational performance across various business segments. Furthermore, the Board of Directors accorded approval for the future issuance of debt instruments.

The comprehensive financial data and segmental performance metrics for RCF were released following the Board meeting held on August 13, 2026. The company confirmed that the results are compliant with Indian Accounting Standards (Ind AS).

Financial Performance and Segmental Results​

For the quarter ended June 30, 2026, Rashtriya Chemicals reported a Total Income of ₹3621.15 crore in standalone financials and ₹3585.71 crore in consolidated figures. The company recorded a Profit/Loss after tax (PAT) of ₹74.29 crore in the standalone results.

The company operates through several segments: Fertilizers, Industrial Chemicals, and Trading. Segment profitability varied across these divisions during the quarter.

Key financial parameters for the period ended June 30, 2026, include:


The company's segment results show the following:

Operational Highlights and Financial Impact Analysis​

The company’s financial statements included specific disclosures regarding operational factors, notably the revision of energy norms under the Urea Pricing Policy and the ongoing gas pooling dispute with GAIL (India) Ltd.

Energy Norm Revision: The Department of Fertilizers (DoF) revised the energy norm for RCF's Thai Unit to 5.984 Gcal/MT, effective from April 1, 2025. This revision resulted in a decrease in subsidy income, leading to a recognized financial impact totaling ₹171.54 crore across FY 2025-26 and the quarter ended June 30, 2026.

Gas Pooling Dispute: The company continues to account for a differential concerning gas pooling, where it contends that EPMC/Spot gas meant for Urea Operations was substituted with cheaper market-priced gas intended for non-urea operations by FICC.

• The cumulative amount recognized as receivable from DoF due to this differential stood at approximately ₹79.84 crore up to June 2026, compared against a demand of ₹52.18 crore raised by GAIL (India) Ltd. for FY 2022-23.
• The total disputed amount for FY 2022-23 stands at ₹123.57 crore.

Future Debt Issuance Capacity​

In a separate operational update, the Board of Directors confirmed that it has approved the issuance of Secured/Unsecured, Non-Convertible Debentures in one or more series/tranches, aggregating up to ₹1100 crore over the next twelve months through private placement basis. This planned funding is subject to approval by shareholders at the ensuing Annual General Meeting (AGM).

Debt Instruments and Ratings​

RCF holds several unsecured non-convertible debentures. The company issued 7.99% Unsecured Non-Convertible Debenture (SERIES I - 2024) worth ₹300.00 crore in August 2024, due on August 7, 2027.

Other debt instruments include the 7.49% Unsecured Non-Convertible Debenture (SERIES I - 2025), with a face value of approximately ₹300.00 crore and due on June 30, 2028. The company also holds the 7.60% Unsecured Non-Convertible Debenture (SERIES II - 2025) worth ₹395.00 crore, which is due on July 25, 2029.

The ratings for the company's debt include:

RCF Stock Price Movement​

Today, the stock of Rashtriya Chemicals and Fertilizers Limited managed a marginal gain, settling at ₹124.47 after edging up by 0.1%. The equity stayed within its intraday range, trading between a low of ₹124.00 and a high of ₹126.19.