Q2 FY27 Financial Performance Summary

Standalone Results (YoY):

  • Total Income: ₹9,987 Cr (up 5% from ₹9,513 Cr in Q2 FY26)
  • EBITDA: ₹904 Cr (down 21% from ₹1,147 Cr)
  • PBT: ₹737 Cr (down 33% from ₹1,092 Cr)
  • PAT: ₹548 Cr (down 33% from ₹816 Cr)

Consolidated Results (YoY):

  • Total Income: ₹10,348 Cr (up 6% from ₹9,771 Cr)
  • EBITDA: ₹944 Cr (down 18% from ₹1,147 Cr)
  • PBT: ₹706 Cr (down 33% from ₹1,059 Cr)
  • PAT: ₹523 Cr (down 34% from ₹793 Cr)

H1 FY27 Financial Performance Summary

Standalone Results (YoY):

  • Total Income: ₹17,779 Cr (up 7% from ₹16,596 Cr)
  • EBITDA: ₹1,530 Cr (down 19% from ₹1,885 Cr)
  • PBT: ₹1,242 Cr (down 30% from ₹1,777 Cr)
  • PAT: ₹925 Cr (down 30% from ₹1,325 Cr)

Consolidated Results (YoY):

  • Total Income: ₹18,563 Cr (up 10% from ₹16,897 Cr)
  • EBITDA: ₹1,705 Cr (down 12% from ₹1,929 Cr)
  • PBT: ₹1,220 Cr (down 30% from ₹1,737 Cr)
  • PAT: ₹905 Cr (down 30% from ₹1,295 Cr)

Performance Drivers and Business Updates

Fertiliser Business Challenges:

  • EBITDA decline primarily due to margin pressure in Fertiliser business
  • Caused by spurt in raw material costs triggered by ongoing Middle East crisis
  • Higher costs not adequately covered by Nutrient Based Subsidy (NBS) rates for Kharif season
  • Deficit rainfall and elevated raw material prices impacted product offtake and margins in NP/NPK segment
  • Despite headwinds, company supplied ~3.3 million tons of fertilisers during H1
  • Market share in phosphatic segment improved to 19% from 17% last year

Positive Business Performances:

  • Crop Protection business recorded 22% revenue growth during Q2
  • Supported by healthy performance in export markets
  • Retail business expanded store footprint with ~100 new stores during quarter
  • Total retail network now exceeds 1300 stores
  • Specialty nutrients, organic and biological businesses delivered strong performance

Strategic Initiatives Progress:

  • New NPK fertiliser capacity progressing well, expected completion by Q4 FY27
  • Additional capacity for key Crop Protection molecule expected in Q3 FY27
  • Plans to set up launch plant for fluoro intermediates to support R&D-to-commercial scale-up
  • Strengthens capabilities in specialty chemistry
  • Newly commissioned Phosphoric acid and sulphuric acid plant at Kakinada helped mitigate external supply disruptions

Product Development:

  • Company launched ten new products across Nutrients and Crop Protection businesses during quarter
  • Sharpened focus on differentiated offerings and unique combination products

Management Commentary:

  • MD & CEO S. Sankarasubramanian described performance as "resilient" in challenging business environment
  • Attributes strength to diversified portfolio, customer connect and market presence
  • Expects NBS rates for Rabi season to appropriately reflect raw material price movements
  • Continued promotion of balanced nutrition expected

Operational Highlights:

  • Company operates 21 manufacturing facilities across India
  • 8 R&D centers supporting process development and new product introduction
  • Retail network serves approximately 3 million farmers with agri inputs and farming services
  • FY25-26 turnover: ₹31,827 Crores
  • Part of Murugappa Group (FY25-26 turnover: ₹105,582 crore)