Madras Fertilizers Limited (MFL) operates as a Public Sector Undertaking, which is governed by the Department of Fertilisers of the Ministry of Chemicals and Fertilisers. It is unique in that it was the first PSU in the fertiliser sector to obtain ISO 9002 accreditation.
MFL was established on December 8, 1966, as a joint venture between AMOCO India and the Government of India.
According to the terms of the participation agreement between the government, AMOCO and the National Iranian Oil Company (NIOC), a government-affiliated organisation, NIOC purchased 50% of AMOCO’s MFL shares in 1972. As a result of this, AMOCO and NIOC each held 24.5% of the shares, while the the Government of India owned the remaining 51%. Iin 1985, AMOCO’s shares were proportionately acquired by the Government of India and NIOC, increasing their respective stakes to 67.55% and 32.45%.
Following the issuance of rights shares in 1994 to partially finance the project, the government and NIOC's holdings were adjusted to 69.78% and 30.22%, respectively.
The market capitalisation of Madras Fertilisers Ltd stood at ₹1,600 crore as of February 27, 2024. Madras Fertilisers share price has surged over 271% in the last three years.
Business operations
Madras Fertilizers specialises in the production of biofertilisers, complex fertilisers, urea and ammonia. Along with producing these goods, the company markets them and engages in agrochemical commerce, all of which are in line with its company goals. Madras Fertilizers has its headquarters and production facilities on 329 acres of freehold land in Manali, around 20 km north of Chennai.
MFL’s products
Vijay Fertiliser
Vijay Fertiliser: MFL offers a range of fertilisers to meet various crop and soil requirements. With a 46% nitrogen concentration, Vijay Urea is a nitrogenous fertiliser that can be used on different crops and soil types. Vijay Complexes is a granulated fertiliser containing nitrogen, phosphorus and potash. MFL’s flagship product is Vijay 17:17:17, which made its debut in 1970. It is designed primarily to support vegetative phases and early growth in all crop varieties.
Vijay Neem Coated Urea
The companyi has been producing and marketing Vijay Neem Coated Urea since June 2015.
Vijay Organic Manure
Since 2012, Madras Fertilizers has been producing Vijay Organic Manure, an eco-friendly product. It preserves soil health and texture in an environmentally-friendly manner.
Vijay Neem
Made from neem kernel extract, it sells neem-based pesticides under the Vijay Neem brand. These pesticides are meant to work against pests that damage both food and commercial crops. The company claims pests don’t become resistant to Vijay Neem.
Vijay Biofertiliser
Under the Vijay Bio brand, Madras Fertilizers introduced biofertilisers to maintain soil fertility and health. These biofertilisers are designed to meet the requirements of all crops in a range of climatic and soil conditions.
Madras Fertilizers Financial Highlights
- Revenue: Madras Fertilizers reported revenue of ₹2,373.55 crore in FY26 vs ₹2,585.04 crore in FY25. It showed a decrease of 8.18% on a yearly basis.
- Operating Profit: Madras Fertilizers reported an operating profit of ₹102.31 crore in FY26 vs ₹91.60 crore in FY25. It showed an increase of 11.69% on a year-on-year basis.
- Net Profit: Madras Fertilizers reported a net profit of ₹80.42 crore in FY26 vs ₹64.25 crore in FY25. It showed an increase of 25.17% on a yearly basis.
Madras Fertilizers Quarterly Result Highlights
- Madras Fertilizers reported revenue of ₹826.46 crore in Jun 2026, compared with ₹712.65 crore in Mar 2026, representing an increase of 15.97% on a quarter-on-quarter (QoQ) basis.
- Madras Fertilizers reported an operating profit of ₹46.08 crore in Jun 2026, compared with ₹22.52 crore in Mar 2026, representing an increase of 104.62% on a quarter-on-quarter (QoQ) basis.
- Madras Fertilizers reported a profit of ₹34.59 crore in Jun 2026, compared with ₹20.89 crore in Mar 2026, reflecting an increase of 65.58% on a QoQ basis.
- The earnings per share (EPS) of Madras Fertilizers stood at ₹3.99 during Jun 2026.
Data Source: BSE, Company announcements
Securities shown are illustrative, not recommendations. Past performance does not guarantee future results.
