Archive · 10 Jan 2026
Two Debt-Free Chemical Stocks with High Dividends
There are two chemical companies in India that are doing really well.
They don't have any debt, which means they don't have to pay a lot of interest.
This is good because it lets them make more money.
They also give a lot of their money back to the people who invest in them, which is called a dividend.
One company is called GNFC, and it makes things like ammonia and urea.
The other company is GOCL, and it used to make explosives but is now focusing on making power.
Both companies are trading at a discount, which means their stock prices are lower than they have been in the past.
This could be a good time to invest in them, but it's important to remember that investing always comes with some risk.
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) and GOCL Corporation Ltd are two chemical companies with high dividend yields and low debt-to-equity ratios.
GNFC has a dividend yield of 3.78% and a debt-to-equity ratio of 0%, while GOCL has a dividend yield of 3.6% and a debt-to-equity ratio of 0.06%.
GNFC is one of India's largest ammonia manufacturers and operates a large urea facility, while GOCL is pivoting from explosives to a 1,040 MW thermal power plant.
Both companies are trading at a discount, with GNFC at a 48% discount and GOCL at a 60% discount from their all-time highs.
GNFC's share price has increased by 117% over the past five years, while GOCL's share price has seen a smaller increase.
- Who
- Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) and GOCL Corporation Ltd
- What
- Two chemical companies with high dividend yields and low debt-to-equity ratios
- When
- As of January 9, 2026
- Where
- India
- Why
- To highlight potential investment opportunities in debt-free companies with high dividend yields
- Company 1
- Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC)
- Company 2
- GOCL Corporation Ltd
- GNFC Dividend Yield
- 3.78%
- GOCL Dividend Yield
- 3.6%
- GNFC Debt-to-Equity Ratio
- 0%
- GOCL Debt-to-Equity Ratio
- 0.06%
- GNFC Market Cap
- Rs 7,027 cr
- GOCL Market Cap
- Rs 1,370 cr
- GNFC Share Price (Jan 2021)
- Rs 220
- GNFC Share Price (Jan 2026)
- Rs 478
- GOCL Share Price (Jan 2021)
- Rs 205
- GOCL Share Price (Jan 2026)
- Rs 276
- GNFC PE Ratio
- 11x
- GOCL PE Ratio
- 12x
- GOCL Power Plant Capacity
- 1,040 MW