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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ 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	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	Q4 FY19	Q4 FY18
Revenue from operations	4,500	4,347	6,870	6,763	3,534	4,457	5,856	4,390	5,092	5,284	7,581	5,660	5,051	6,268	6,757	6,455	4,442	5,092	3,691	2,632	2,961	2,939	3,174	2,832	3,014	3,737	3,662	3,088	2,096
Other income	11.4	12.2	17.4	15.3	8.9	25	28.1	14	17.9	26.3	17.4	31.6	8.5	144	7.9	7.7	8	7.9	10.5	8	12.9	5.2	8.5	6.1	25.6	7.4	8.6	14.1	30.5
Total expenses	4,416	4,203	6,756	6,789	3,588	4,352	5,842	4,418	5,164	5,068	7,408	5,844	5,251	6,771	6,732	6,312	4,387	5,088	3,627	2,645	2,977	2,866	3,065	2,686	2,975	3,600	3,647	2,983	2,022
EBITDA	267	321	296	128	88.6	234	149	125	109	382	315	−54.7	−8.5	−331	185	281	179	122	180	96.6	114	210	265	324	267	255	146	238	138
EBITDA margin	5.9%	7.4%	4.3%	1.9%	2.5%	5.3%	2.5%	2.8%	2.1%	7.2%	4.2%	-1.0%	-0.2%	-5.3%	2.7%	4.3%	4.0%	2.4%	4.9%	3.7%	3.9%	7.2%	8.4%	11.4%	8.8%	6.8%	4.0%	7.7%	6.6%
Finance costs	79.3	76.7	71.7	54.8	46.2	34.7	41.2	60	89.8	73.9	49.9	39.3	104	83.6	72.7	51.2	38.1	33.7	33.7	27.5	52.6	58.5	78.1	101	99.5	93.7	107	92.4	46.7
Depreciation	104	99.8	110	99	96.1	94.7	94.3	92.8	91.2	91.7	92.4	90.4	87.1	88.9	87.3	87	85.5	84.7	82.3	82.2	77.6	79.4	78.3	77	128	24.5	24.7	40.5	17.6
Profit before tax	95.3	157	131	−10.3	−44.7	130	41.9	−13.8	−53.9	242	190	−153	−191	−359	32.7	150	63.7	11.6	74.7	−5	−3.3	77.8	118	152	−324	144	23.4	120	104
Tax	24.4	38.5	37.3	−0.1	−12.6	32.6	11	−3.2	−12.6	60.7	50.2	−39.7	−47.4	−90.5	8	38.5	15.5	2.9	18.9	−0.7	−0.3	22.6	30.2	41.3	−84.5	36.7	−1.2	38.8	36.6
Net profit	113	152	135	−35.8	−39.4	135	45.8	12.1	−8.7	208	151	−87.1	−121	−236	14.8	125	6.1	−23.1	16.3	−94.3	−9.5	52.9	85.4	108	−249	107	24.6	80.9	67.7
Net margin	2.5%	3.5%	2.0%	-0.5%	-1.1%	3.0%	0.8%	0.3%	-0.2%	3.9%	2.0%	-1.5%	-2.4%	-3.8%	0.2%	1.9%	0.1%	-0.5%	0.4%	-3.6%	-0.3%	1.8%	2.7%	3.8%	-8.2%	2.9%	0.7%	2.6%	3.2%
EPS (₹)	2.31	3.09	2.76	-0.73	-0.80	2.75	0.93	0.25	-0.18	4.23	3.08	-1.78	-2.48	-4.81	0.50	2.56	0.12	-0.47	0.33	1.92	-0.19	1.08	1.74	2.21	-5.07	2.18	0.50	1.65	1.38
Net profit YoY	+387.5%	+12.4%	+195.1%	−396.7%	−353.9%	−35.1%	−69.6%	+113.9%	+92.8%	+188.0%	–	−688.9%	−196.8%	−3993.6%	−9.5%	+233.0%	+163.6%	−143.6%	−80.9%	−187.1%	+96.2%	−50.6%	+247.9%	–	−407.4%	–	–	+19.5%	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue from operations	21,514	19,795	23,560	29,617	15,857	11,906	13,135	12,245	8,928
Other income	53.7	95	99.4	193	34.3	33.3	56.5	55.8	96.3
Total expenses	21,335	19,785	23,571	29,199	15,747	11,596	13,056	11,838	8,690
EBITDA	834	608	618	1,072	578	914	860	825	502
EBITDA margin	3.9%	3.1%	2.6%	3.6%	3.6%	7.7%	6.5%	6.7%	5.6%
Finance costs	249	226	267	302	133	291	405	316	190
Depreciation	405	373	362	353	335	312	374	101	73.3
Profit before tax	233	104	88.5	610	145	343	−253	460	335
Tax	63	27.8	23.8	154	36.6	93.8	−81.7	165	122
Net profit	211	184	150	458	−95	237	−181	295	213
Net margin	1.0%	0.9%	0.6%	1.5%	-0.6%	2.0%	-1.4%	2.4%	2.4%
EPS (₹)	4.31	3.75	3.06	9.34	-1.94	4.83	-3.69	6.01	4.34
Net profit YoY	+15.0%	+22.6%	−67.3%	+582.4%	−140.1%	+230.9%	−161.4%	+38.7%	–

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	−1,342	2,590	668	−333	−1,029
Investing cash flow	−263	−268	−334	−206	−129
Financing cash flow	1,643	−2,334	−318	526	1,145
Capital expenditure	228	204	292	208	297
Free cash flow (CFO − capex)	−1,570	2,386	376	−541	−1,326

Net profit trend

annual, ₹ crore

FY21

₹237

FY22

₹−95−140%

FY23

₹458+582%

FY24

₹150−67%

FY25

₹184+23%

FY26

₹211+15%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	12 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	12 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	27 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	27 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	11 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	11 Nov 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	14 Aug 2025	PDF on NSE XBRL
Q1 FY26	Standalone	14 Aug 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2610.07 MB FY2511.46 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)9.0×

P/B1.15×

ROEFY26, on average equity7.6%

Net margin1.0%

Debt / equity1.39×

Revenue CAGR (3Y)-10.1%

Profit CAGR (3Y)-22.7%

EPS (TTM)₹7.43

Market cap₹3,271 Cr

Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.

Balance sheet 31 Mar 2026

Total assets₹11,724 Cr+26%

Net worth₹2,841 Cr+5%

Total borrowings₹3,959 Cr+98%

Cash & bank balances₹55 Cr+210%

Investments₹0 Cr

Inventories₹1,085 Cr+19%

Trade receivables₹5,411 Cr+65%

Trade payables₹1,479 Cr−4%

Change vs the same date a year earlier.

Revenue mix FY26

Manufactured Fertilizers59.7%result ₹92.4 Cr

Traded Imported Fertilizers (Under NBS)29.6%result ₹189 Cr

OthersDomesticTradedProductAgroInputsSaleServices8.3%result ₹173 Cr

Manufactured Chemicals2.4%result ₹136 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	74.71	74.71	74.71	74.71	74.71	74.71	74.71	74.71	74.71	74.71	74.71	74.71
FII	0.55	0.69	1.07	0.91	0.49	0.60	0.42	0.41	0.41	0.48	1.10	0.39
DII	4.92	5.53	5.91	5.99	6.21	6.83	7.28	7.27	7.49	8.38	8.51	9.92
of which MF	0.07	0.08	0.11	0.09	0.08	–	–	–	–	–	–	–
Retail	18.78	18.05	17.40	17.34	17.51	16.82	16.59	16.65	16.04	15.42	13.89	13.61
Other public	1.04	1.02	0.91	1.05	1.08	1.04	1.00	0.96	1.35	1.01	1.79	1.37

2,84,253 shareholders · NSE shareholding pattern filings.