Financial Performance Highlights

Q2 FY27 Performance (YoY Comparison)

  • Revenue from Operations: ₹73,641 million, increased 7.2% from ₹68,722 million in Q2 FY26
  • EBITDA: ₹4,312 million, declined 38.3% from ₹6,984 million in Q2 FY26
  • EBITDA Margin: 5.8% compared to 10.1% in Q2 FY26
  • Profit Before Tax: ₹1,642 million, declined 65.0% from ₹4,685 million in Q2 FY26
  • PBT Margin: 2.2% compared to 6.8% in Q2 FY26
  • Reported Profit After Tax: ₹1,224 million, declined 64.1% from ₹3,412 million in Q2 FY26
  • PAT Margin: 1.7% compared to 4.9% in Q2 FY26
  • Basic EPS: ₹1.16, declined 64.7% from ₹3.29 in Q2 FY26

H1 FY27 Performance (YoY Comparison)

  • Revenue from Operations: ₹134,883 million, increased 18.6% from ₹113,757 million in H1 FY26
  • EBITDA: ₹11,730 million, declined 10.7% from ₹13,131 million in H1 FY26
  • EBITDA Margin: 8.7% compared to 11.5% in H1 FY26
  • Profit Before Tax: ₹6,904 million, declined 22.7% from ₹8,929 million in H1 FY26
  • PBT Margin: 5.1% compared to 7.8% in H1 FY26
  • Reported Profit After Tax: ₹5,156 million, declined 21.8% from ₹6,589 million in H1 FY26
  • PAT Margin: 3.8% compared to 5.8% in H1 FY26
  • Basic EPS: ₹4.94, declined 22.2% from ₹6.35 in H1 FY26

Quarterly Sequential Performance (Q2 vs Q1 FY27)

  • Revenue from Operations increased 20.2% from ₹61,243 million in Q1 FY27
  • EBITDA declined 41.9% from ₹7,418 million in Q1 FY27
  • EBITDA Margin decreased from 12.1% in Q1 to 5.8% in Q2
  • Profit Before Tax declined 68.8% from ₹5,262 million in Q1 FY27
  • Reported Profit After Tax declined 68.9% from ₹3,932 million in Q1 FY27

Production Volumes (MT)

Q2 FY27 Production

  • Total Fertilizers: 581,343 MT, increased 42.2% YoY
  • DAP: 151,530 MT, increased 29.2% YoY
  • Total NPK: 185,279 MT, increased 71.6% YoY
  • Urea: 244,534 MT, increased 3.4% YoY
  • Zypmite: 11,205 MT, decreased 28.5% YoY
  • Sulphuric Acid: 367,121 MT, increased 25.2% YoY
  • Ammonia: 154,589 MT, increased 2.9% YoY
  • Phosphoric Acid: 97,600 MT, decreased 18.9% YoY

H1 FY27 Production

  • Total Fertilizers: 1,347,323 MT, increased 27.5% YoY
  • DAP: 390,449 MT, increased 37.0% YoY
  • Total NPK: 504,082 MT, increased 54.3% YoY
  • Urea: 452,792 MT, decreased 3.7% YoY
  • Zypmite: 24,250 MT, decreased 10.1% YoY
  • Sulphuric Acid: 753,369 MT, increased 28.8% YoY
  • Ammonia: 294,388 MT, increased 0.6% YoY
  • Phosphoric Acid: 217,970 MT, decreased 6.5% YoY

Sales Performance

  • Achieved sales volume of 1 million tons in Q2 FY27
  • Achieved sales volume of 2 million tons in H1 FY27

Management Commentary

Mr. N Suresh Krishnan, Managing Director and CEO, stated that despite global uncertainty particularly sulphur pricing/availability and impact of Rabi notification, the company delivered EBITDA/ton for H1 of ₹5,866 compared to ₹5,719 in H1 FY26. The company launched JAI KISAAN NAVRATNA CROPFIT for sugarcane cultivation in Karnataka and incorporated Fertilizer Innovation Foundation India to support research and sustainable agricultural practices.

Expansion Projects

  • Phos Acid expansion (Phase 1) from 500,000 MTPA to 700,000 MTPA at Paradeep is on track
  • Public hearing for environmental approval for capex program at Paradeep completed
  • Expecting to receive environmental approvals shortly
  • Energy efficiency improvement project at Goa completed, optimizing energy consumption by 0.3 GCcal/MT of Urea

Debt Position (Rs. Million)

  • Long Term Debt: ₹9,980 (vs ₹8,158 in FY26)
  • Short Term Debt: ₹88,492 (vs ₹60,565 in FY26)
  • Total Debt: ₹98,472 (vs ₹68,723 in FY26)
  • Cash & Cash Equivalents: ₹4,812 (vs ₹4,092 in FY26)
  • Net Debt: ₹93,661 (vs ₹64,454 in FY26)
  • Total Equity: ₹71,448 (vs ₹67,827 in FY26)
  • Net Debt/Equity: 1.31x (vs 0.95x in FY26)

Operational Highlights

  • Installed capacity of 3.7 MMTPA across three manufacturing facilities
  • Paradeep plant: 1.8 MMTPA capacity for DAP and various NPK grades
  • Goa plant: 0.8 MMTPA NPK/DAP, 0.4 MMTPA Urea
  • Mangalore plant: 0.3 MMTPA NPK/DAP, 0.4 MMTPA Urea
  • Serves over 11 million farmers through 100,000+ retailers across 18 states
  • 25 regional marketing offices and 666 stock points

ESG Initiatives

  • Published 5th ESG Report for FY25-26, externally assured by TUV India
  • Published 5th BRSR Report for FY25-26 (Statutory), externally assured by TUV India
  • Participated in S&P CSA Ratings for FY25-26 - Assessment Result awaited
  • Previous S&P Global CSA Score of 76 (Top 2% globally in Chemical Sector)
  • Paradeep site is habitat for over 30,000 migratory birds from 50+ species annually
  • Plans to consume 75,000 MT, 25,000 MT and 15,000 MT of Green Ammonia at Paradeep, Goa & Mangalore Units respectively

Farmer Engagement Activities Q2 FY27

  • Retailer Meetings: 76 (target 76)
  • Farmer Meetings: 2,228 (target 2,064)
  • Demonstrations: 1,248 (target 1,248)
  • Crop Seminar: 102 (target 102)
  • FPO Farmer meetings: 434 (target 516)
  • Viksit Bharat Sankalp Yatra: 1,602 (target 1,600)
  • Wall Paintings: 91,000 sq ft (target 91,000)
  • Shop Paintings: 200 (target 200)

Digital Campaign Performance

  • 126.5 Mn Impressions
  • 13.9 Mn Reach
  • 878 K Clicks
  • 2.9 Mn Video Views
  • 15 Mn Engagements

Jai Jawan Jai Kisaan Diwas Celebration

  • 195 programs organized on August 15, 2026
  • 19,871 farmers participated
  • 421 dealers/retailers participated
  • 40 KVK scientists participated
  • 574 ex-servicemen farmers felicitated
  • 31,505 tree saplings planted in 195 adopted villages