Q1 profit at Rs 22.93 cr as fertiliser volumes fell
Management cited supply-chain challenges and elevated raw-material prices, while saying expansion and capacity additions remain priorities for FY27.
Filed 12 Aug 2026, 18:54 IST · after market close · SHREEPUSHK (SHREEPUSHK)
Key takeaways
- Management said consolidated revenue grew +10.00% YoY despite fertiliser sales volume falling to 66,527 MT.
- Consolidated operating margin was 11.40%, with net profit at Rs 22.93 cr and EPS at Rs 7.09.
- Other income of Rs 4.87 cr contributed to consolidated profit before tax of Rs 27.82 cr, while the tax rate was 17.60%.
Revenue growth came alongside lower fertiliser volumes
The consolidated quarter delivered revenue of Rs 280.07 cr and net profit of Rs 22.93 cr. Management said revenue grew +10.00% YoY despite ongoing global supply-chain challenges and elevated raw-material prices. The presentation also said fertiliser sales volume fell to 66,527 MT from 76,288 MT a year earlier, with volumes in both segments affected by the operating environment.
Operating margin stood at 11.40% with other income in the mix
Operating profit was Rs 31.93 cr, implying an operating margin of 11.40%; no sequential or year-on-year cost bridge was provided. Other income was Rs 4.87 cr against profit before tax of Rs 27.82 cr, while the tax rate was 17.60%. There is no quarterly trend data in the reported comparison, so the direction of margins cannot be assessed beyond this quarter.
Expansion plans span fertiliser, acid and solar capacity
Management said it is evaluating the timing of commissioning Ratnagiri Units 5 and 6 to support stable operations and profitability. The company said Meghnagar Unit 8 carries planned capex of Rs 350 cr for 3,00,000 MTPA of complex-fertiliser capacity, targeted for completion in March 2028. Management also said Ratnagiri Unit 5 has planned capex of Rs 37 cr for 6,000 MTPA, while a 10.0 MWDC solar addition is targeted for completion in August 2026.
Results were filed after market close
The consolidated results were filed after market close on 12 August 2026. The filing therefore provides the quarterly operating picture without a reported post-results stock reaction.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹280 cr |
| Other income | ₹5 cr |
| Expenses | ₹248 cr |
| Operating profit | ₹32 cr |
| Operating margin (%) | 11.40% |
| Interest | ₹3 cr |
| Depreciation | ₹6 cr |
| Profit before tax | ₹28 cr |
| Tax | ₹5 cr |
| Net profit | ₹23 cr |
| EPS (₹) | ₹7.09 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Q1 FY27 fertiliser sales volume was 66,527 MT, down from 76,288 MT in Q1 FY26.
Guidance & outlook
- The company is evaluating the timing of commissioning Ratnagiri Units 5 and 6 to ensure stable operations and maintain profitability.
- The company remains focused on advancing expansion, strengthening manufacturing capabilities and increasing capacity across its core businesses in FY27.
Expansion
- Meghnagar Unit 8 has planned capex of Rs. 350 crore for 3,00,000 MTPA of complex fertiliser capacity, targeted for completion in March 2028.
- Ratnagiri Unit 5 has planned capex of Rs. 37 crore for 6,000 MTPA of capacity, with completion targeted for August 2026.
- The company is adding 10.0 MWDC of solar capacity, with completion targeted for August 2026.
New initiatives
- The company operates an interlinked manufacturing setup anchored by its Acid Complex to utilize by-products across divisions.
- The company uses a Waste Heat Recovery Power Plant and zero-effluent discharge system to improve energy utilization and sustainability.
- The company plans to fund growth through internal accruals and preferential allotment.
- Additional solar plant units in Maharashtra are planned to raise total solar capacity to 20.6 MWDC.
Problems & risks
- Revenue grew despite ongoing global supply chain challenges and elevated raw material prices.
- Sales volumes across both segments were impacted by the prevailing operating environment during the quarter.
What to watch
- Whether operating margin holds above 11.40%.
- Whether fertiliser sales volume recovers from 66,527 MT.
- The timing of Ratnagiri Unit 5 commissioning against the August 2026 target.