Gujarat State Fertilizers and Chemicals Limited (GSFC) announced a final dividend of ₹5 per equity share for the financial year ended March 31, 2026, following a board meeting held on May 22, 2026. The announcement was submitted to the NSE alongside the company's audited financial results for Q4 FY26.

Dividend Details and Yield

The recommended dividend of ₹5 per share translates to a dividend yield of approximately 2.90% based on GSFC's last traded price of ₹172.37 on NSE. The stock carries a face value of ₹2 per share, making this payout equivalent to 250% of face value. The dividend is subject to shareholder approval at the forthcoming Annual General Meeting.

Year-on-Year Comparison

The FY26 payout of ₹5 per share is flat compared to FY25, when the board had also recommended ₹5 per share. This marks a recovery from FY24's ₹4 per share but remains well below the ₹10 per share paid in FY23, which was the highest payout in at least six years. The dividend history over the past several years is as follows:

The trend indicates a sharp dividend cycle, with payouts rising sharply in FY23, likely on the back of elevated fertilizer sector margins, before moderating in subsequent years and stabilising at the ₹5 level over the last two fiscal years.

Valuation and Market Context

GSFC stock closed at ₹172.37, down 1.33% on the day of the announcement. The stock's 52-week range stands at ₹138.83 to ₹220.59, with the high recorded on September 4, 2025, and the low touched as recently as March 30, 2026. At the current price, the stock is trading approximately 21.8% below its 52-week high and roughly 24.2% above its 52-week low, placing it in the lower half of its annual range.

The company's price-to-earnings (PE) ratio stands at 10.22, which is exactly in line with the sector PE of 10.22, suggesting the stock is trading in line with its peers in the fertilizers and chemicals space with no meaningful premium or discount on an earnings basis.

Trading Activity

On May 22, 2026, GSFC recorded a trading volume of 5,75,145 shares, with a delivery percentage of 52.83%. A delivery ratio above 50% is generally associated with positional interest rather than intraday trading activity, indicating a meaningful portion of buyers on the day intend to hold the stock. Daily volatility stands at 2.13%. The company's market capitalisation is ₹6,868.56 Cr, and it is a constituent of the Nifty Microcap 250, Nifty Total Market, and Nifty Smallcap 500 indices.

Company Background

Gujarat State Fertilizers and Chemicals Limited is a Gujarat government-promoted enterprise engaged in the manufacture of fertilizers, industrial chemicals, and caprolactam. The company has maintained an uninterrupted dividend track record across market cycles, with payouts recorded in every year covered by the available disclosure history dating to FY18.

Investors tracking GSFC will note that while the absolute dividend per share has stabilised, the yield at current market prices remains competitive relative to broader small-cap peers. The record date and payment date for the FY26 final dividend are yet to be announced by the company.