The purpose of the study is to know the profitability of the selected fertilizer companies and to see how efficiently the operations of the business are carried out. In this study, two companies i.e. Gujarat Narmada Valley Fertilizers and Chemicals Ltd. and Gujarat State Fertilizers and Chemicals Ltd. are selected. The primary objective of the study is to measure significant difference if any in the performance of selected fertilizer companies in terms of Profitability. In this study t-test is conducted for Profitability ratios of selected fertilizer companies in Gujarat for the period of 2010-11 to 2019-20. In these Profitability ratios include Gross Profit Ratio, Net Profit Ratio, Return on Assets Ratio, Return on Equity Ratio, Return on Capital Employed Ratio, Dividend per Share, Earnings per Share and Dividend Payout Ratio. The statistical tool t-test is used to test the hypothesis regarding profitability of two selected companies in fertilizer industry. From the analysis of the data it is concluded that there is a significant difference in Gross Profit Ratio and Return on Assets Ratio. Overall the performance of GNFC is better than GSFC.

Keywords: Profitability, Fertilizer Companies, t-test, Return on Capital Employed, GNFC.