Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 | Q3 FY23 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,256 | 3,011 | 2,830 | 3,006 | 2,659 | 2,667 | 2,579 | 2,747 | 2,281 | 2,086 | 1,853 | 2,424 | 2,313 | 2,796 | 2,755 | 2,719 | 3,031 | 2,012 | 1,956 | 1,793 | 1,902 | 1,575 | 1,447 | 1,404 | 1,382 | 1,293 | 1,119 | 1,151 | 1,453 | 1,769 | 2,226 | 1,905 |
| Other income | 6 | 6.1 | 46.2 | 27 | 23.8 | 49.6 | 12.6 | 6.9 | 11.8 | 72.3 | 11.1 | 19 | 20.4 | 15.2 | 30.6 | 27.1 | 11.2 | 10.1 | 17.1 | 10.9 | 5.9 | 5.7 | 9.1 | 14.3 | 3.6 | 14.2 | 41.3 | 30.7 | 9.2 | 13.7 | 7.6 | 11.3 |
| Total expenses | 2,611 | 2,856 | 2,682 | 2,723 | 2,337 | 2,397 | 2,291 | 2,455 | 2,023 | 1,862 | 1,767 | 2,326 | 2,171 | 2,450 | 2,402 | 2,324 | 2,393 | 1,602 | 1,706 | 1,669 | 1,718 | 1,402 | 1,326 | 1,306 | 1,218 | 1,285 | 1,126 | 1,152 | 1,446 | 1,754 | 2,177 | 1,873 |
| EBITDA | 845 | 354 | 353 | 464 | 513 | 480 | 486 | 494 | 464 | 438 | 282 | 286 | 281 | 469 | 461 | 495 | 740 | 502 | 352 | 212 | 290 | 273 | 217 | 193 | 272 | 120 | 109 | 117 | 108 | 115 | 148 | 130 |
| EBITDA margin | 26.0% | 11.8% | 12.5% | 15.4% | 19.3% | 18.0% | 18.8% | 18.0% | 20.4% | 21.0% | 15.2% | 11.8% | 12.1% | 16.8% | 16.7% | 18.2% | 24.4% | 24.9% | 18.0% | 11.8% | 15.3% | 17.3% | 15.0% | 13.8% | 19.7% | 9.2% | 9.7% | 10.1% | 7.4% | 6.5% | 6.7% | 6.8% |
| Finance costs | 94.8 | 93.4 | 96.4 | 74.8 | 88.1 | 101 | 98.4 | 103 | 111 | 112 | 106 | 107 | 79.2 | 54.9 | 53.1 | 43.3 | 43.5 | 38.6 | 36.2 | 36.7 | 43.3 | 48.1 | 42.8 | 41.6 | 55.2 | 58.1 | 60.5 | 63.1 | 57.2 | 57.5 | 57.3 | 57.6 |
| Depreciation | 105 | 106 | 108 | 106 | 103 | 109 | 99.5 | 99.7 | 95.5 | 102 | 91.2 | 81.2 | 59.5 | 69 | 55.1 | 56.5 | 58.7 | 52.9 | 65.8 | 51.3 | 62.5 | 51.7 | 53.1 | 53.8 | 53.4 | 53.2 | 54.1 | 54.3 | 43.6 | 42.6 | 41.9 | 40.1 |
| Profit before tax | 651 | 161 | 195 | 310 | 345 | 320 | 301 | 299 | 270 | 296 | 96.6 | 117 | 162 | 360 | 384 | 422 | 649 | 420 | 267 | 135 | 190 | 179 | 130 | 112 | 167 | 22.4 | 35.2 | 29.9 | 16.2 | 28.7 | 56.5 | 43.4 |
| Tax | 161 | 21.7 | 53 | 95.5 | 101 | 42.1 | 47.7 | 84.6 | 70.2 | 76.7 | 36.1 | 53.3 | 48.6 | 103 | 131 | 146 | 214 | 137 | 86.5 | 41.6 | 59.8 | 63.2 | 41.1 | 31.5 | 46.1 | 0.1 | 4.7 | 4.3 | 2.8 | 9.2 | 19.2 | 4.4 |
| Net profit | 490 | 139 | 141 | 214 | 244 | 278 | 253 | 214 | 200 | 220 | 60.5 | 63.5 | 114 | 257 | 252 | 276 | 436 | 283 | 181 | 93.3 | 131 | 116 | 89 | 80.6 | 121 | 22.5 | 30.3 | 25.5 | 12.5 | 18.5 | 37.2 | 38.5 |
| Net margin | 15.0% | 4.6% | 5.0% | 7.1% | 9.2% | 10.4% | 9.8% | 7.8% | 8.8% | 10.5% | 3.3% | 2.6% | 4.9% | 9.2% | 9.2% | 10.1% | 14.4% | 14.1% | 9.2% | 5.2% | 6.9% | 7.4% | 6.1% | 5.7% | 8.8% | 1.7% | 2.7% | 2.2% | 0.9% | 1.0% | 1.7% | 2.0% |
| EPS (₹) | 38.82 | 11.04 | 11.21 | 16.89 | 19.26 | 21.96 | 19.86 | 16.64 | 15.49 | 17.01 | 4.56 | 4.76 | 8.72 | 20.19 | 19.76 | 22.22 | 36.13 | 23.19 | 15.28 | 8.40 | 12.47 | 11.03 | 8.74 | 8.89 | 13.46 | 2.53 | 3.36 | 2.83 | 1.38 | 2.10 | 4.22 | 4.37 |
| Net profit YoY | +101.0% | −49.8% | −44.1% | −0.0% | +22.1% | +26.5% | +318.1% | +237.4% | +75.7% | −14.7% | −76.0% | −77.0% | −73.9% | −9.0% | +39.7% | +195.3% | +233.5% | +144.3% | +103.0% | +15.9% | +7.8% | +414.7% | +193.5% | +215.9% | – | – | +142.9% | +37.8% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY17 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 11,506 | 10,274 | 8,676 | 11,301 | 7,663 | 5,808 | 4,685 | 6,062 |
| Other income | 103 | 80.8 | 123 | 84 | 43.9 | 32.7 | 95.5 | 24.1 |
| Total expenses | 10,599 | 9,166 | 8,127 | 9,569 | 6,695 | 5,253 | 4,678 | 5,853 |
| EBITDA | 1,684 | 1,925 | 1,287 | 2,165 | 1,356 | 955 | 464 | 545 |
| EBITDA margin | 14.6% | 18.7% | 14.8% | 19.2% | 17.7% | 16.4% | 9.9% | 9.0% |
| Finance costs | 353 | 413 | 404 | 195 | 155 | 188 | 243 | 173 |
| Depreciation | 424 | 403 | 334 | 239 | 233 | 212 | 214 | 163 |
| Profit before tax | 1,010 | 1,189 | 672 | 1,816 | 1,013 | 588 | 103 | 233 |
| Tax | 272 | 245 | 215 | 595 | 325 | 182 | 14.1 | 66.4 |
| Net profit | 739 | 945 | 457 | 1,221 | 687 | 406 | 89 | 164 |
| Net margin | 6.4% | 9.2% | 5.3% | 10.8% | 9.0% | 7.0% | 1.9% | 2.7% |
| EPS (₹) | 58.40 | 73.95 | 35.05 | 97.70 | 60.44 | 41.47 | 9.83 | 18.60 |
| Net profit YoY | −21.8% | +106.6% | −62.5% | +77.6% | +69.1% | +356.6% | – | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating cash flow | 206 | 1,880 | 732 | 493 | 1,211 |
| Investing cash flow | −1,559 | −1,062 | −375 | −979 | −1,430 |
| Financing cash flow | 1,396 | −689 | −410 | 604 | 221 |
| Capital expenditure | 1,570 | 1,136 | 885 | 1,209 | 990 |
| Free cash flow (CFO − capex) | −1,364 | 744 | −153 | −716 | 221 |
Net profit trend
annual, ₹ croreFY21
₹406
FY22
₹687+69%
FY23
₹1,221+78%
FY24
₹457−63%
FY25
₹945+107%
FY26
₹739−22%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 30 Jul 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 30 Jul 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 28 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 28 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 29 Jan 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 29 Jan 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 5 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 5 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 29 Jul 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 29 Jul 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 12.5×17.5×
P/B5Y avg 1.97×2.52×
ROEFY26, on average equity11.3%
Net margin6.4%
Debt / equity0.80×
Revenue CAGR (3Y)0.6%
Profit CAGR (3Y)-15.4%
EPS (TTM)₹78.02
Market cap₹17,217 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
2.52×
vs 8-point avg 1.97× (+28%)
1.18× low1.97× avg2.91× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹16,488 Cr+25%
Net worth₹6,845 Cr+10%
Total borrowings₹5,486 Cr+39%
Cash & bank balances₹397 Cr+12%
Investments₹133 Cr−28%
Inventories₹1,738 Cr+63%
Trade receivables₹2,343 Cr+45%
Trade payables₹2,158 Cr+26%
Change vs the same date a year earlier.
Revenue mix FY26
Fertilisers53.6%result ₹420 Cr
Chemical46.1%result ₹1,147 Cr
Realty0.2%result ₹−4 Cr
Others0.1%result ₹−0.4 Cr
Segment revenue as reported, before inter-segment eliminations.