Consolidated Financial Performance (Q2 FY27)

  • Revenue from Operations: ₹403.5 Crores, increased by 58.2% YoY (from ₹255.1 Cr in Q2 FY26) and 44.1% QoQ (from ₹280.1 Cr in Q1 FY27)
  • Gross Profit: ₹120.7 Crores, increased by 42.7% YoY (from ₹84.6 Cr)
  • Gross Margin: 30.0% (vs 33.2% in Q2 FY26 and 31.9% in Q1 FY27)
  • EBITDA: ₹49.2 Crores, increased by 87.7% YoY (from ₹26.2 Cr)
  • EBITDA Margin: 12.2% (vs 10.3% in Q2 FY26 and 11.4% in Q1 FY27)
  • PBT: ₹43.0 Crores, increased by 96.3% YoY (from ₹21.9 Cr)
  • PBT Margin: 10.7% (vs 8.6% in Q2 FY26 and 9.9% in Q1 FY27)
  • PAT: ₹35.7 Crores, increased by 96.1% YoY (from ₹18.2 Cr)
  • PAT Margin: 8.9% (vs 7.1% in Q2 FY26 and 8.2% in Q1 FY27)
  • Earnings per Share: ₹11.05

Consolidated Financial Performance (H1 FY27)

  • Revenue from Operations: ₹683.6 Crores, increased by 34.1% YoY (from ₹509.6 Cr in H1 FY26)
  • Gross Profit: ₹209.93 Crores, increased by 24.6% YoY (from ₹168.5 Cr)
  • Gross Margin: 30.7% (vs 33.1% in H1 FY26)
  • EBITDA: ₹81.2 Crores, increased by 46.7% YoY (from ₹55.4 Cr)
  • EBITDA Margin: 11.9% (vs 10.9% in H1 FY26)
  • PBT: ₹70.8 Crores, increased by 48.4% YoY (from ₹47.7 Cr)
  • PBT Margin: 10.4% (vs 9.4% in H1 FY26)
  • PAT: ₹58.6 Crores, increased by 49.7% YoY (from ₹39.2 Cr)
  • PAT Margin: 8.6% (vs 7.7% in H1 FY26)

Consolidated Volume Performance (Q2 FY27)

  • Chemicals: 14,368 MT, decreased by 16.8% YoY (from 17,266 MT in Q2 FY26) but increased by 57.7% QoQ (from 9,113 MT in Q1 FY27)
  • Fertilisers: 79,277 MT, increased by 9.31% YoY (from 72,527 MT) and 19.7% QoQ (from 66,527 MT)
  • Total Volume: 93,645 MT, increased by 4.3% YoY (from 89,793 MT) and 23.8% QoQ (from 75,640 MT)

Consolidated Volume Performance (H1 FY27)

  • Chemicals: 23,481 MT, decreased by 26.9% YoY (from 32,103 MT in H1 FY26)
  • Fertilisers: 1,45,804 MT, decreased by 2.0% YoY (from 1,48,815 MT)
  • Total Volume: 1,69,285 MT, decreased by 6.43% YoY (from 1,80,918 MT)

Consolidated Segmental Revenue (Q2 FY27)

  • Chemicals: ₹245 Crores, increased by 85.6% YoY (from ₹132 Cr in Q2 FY26) and 78.0% QoQ (from ₹138 Cr in Q1 FY27)
  • Fertilisers: ₹158 Crores, increased by 27.5% YoY (from ₹124 Cr) and 11.2% QoQ (from ₹142 Cr)
  • Total: ₹403 Crores, increased by 58.2% YoY (from ₹255 Cr) and 44.1% QoQ (from ₹280 Cr)

Consolidated Segmental Revenue (H1 FY27)

  • Chemicals: ₹383 Crores, increased by 53.8% YoY (from ₹249 Cr in H1 FY26)
  • Fertilisers: ₹300 Crores, increased by 15.4% YoY (from ₹260 Cr)
  • Total: ₹683 Crores, increased by 34.0% YoY (from ₹510 Cr)

Other Financial Highlights

  • Non-Lien Deposit facility: Available amount of ₹142.83 Crores

Business Developments and Capacity Expansion

  • New Chemical Plant: Initiated setting up of additional Chemical Plant at Unit 5
  • Solar Capacity: 10.00 MW DC at Nanded, Maharashtra commenced during the quarter, bringing total consolidated solar capacity to 20.6 MW DC
  • Unit-5 Commencement: Commercial production at Unit-5 commenced, boosting Dyes Capacity by 6,000 MTPA
  • Scheme of Amalgamation: Scheme between Madhya Bharat Phosphate Private Limited with Kisan Phosphates Private Limited was considered, allowed withdrawal, and dismissed by Hon'ble National Company Law Tribunal, Mumbai Bench due to Commercial Reasons
  • Subsidiary Expansion: Expansion of Madhya Bharat Phosphate Private Limited (wholly owned subsidiary) at Meghnagar, Jhabua, Madhya Pradesh is progressing as planned

Strategic Growth Investments and Capex

  • New Capex Approval: Board approved ₹70 Cr capital expenditure for new Chemical Plant at Ratnagiri Unit 5 with annual capacity of 3,000 MTPA
  • Project Timeline: Expected commissioning by March 2028
  • Funding: Through internal accruals and preferential issuance of Fully Convertible Warrants to Promoter
  • Preferential Issue: Board approved issuance of up to 8,54,060 Fully Convertible Warrants to Promoter Mr. Punit Gopikishan Makharia at issue price of ₹526.90 per warrant, aggregating up to ₹45 Cr
  • Approvals: Subject to shareholders' and other applicable approvals

Management Commentary

Mr. Punit Gopikishan Makharia, Chairman and Managing Director, highlighted the strong performance with Revenue growth of 58.2% YoY and PAT growth of 96.2% YoY in Q2 FY27. He emphasized the company's focus on integrated manufacturing, operational efficiencies, circular manufacturing, and sustainable energy adoption. The expansion plans are expected to strengthen market position, enhance profitability, and support long-term value creation.

Conference Call Details

Scheduled for Tuesday, 3rd November, 2026, at 4:00 PM IST. Universal access numbers provided for domestic and international participants, including toll-free numbers for HK, SG, UK, and USA.