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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	Q4 FY17
Revenue from operations	849	584	774	817	781	754	818	760	754	125	506	744	569	672	699	708	751	268	492	616	499	351	427	429	320	515	382	628	0
Other income	1.5	11.6	4.5	25.5	17.5	5.1	5.2	1.6	2	7.6	13.1	3.9	2.3	4.8	9.2	4.2	2.4	9.5	5.3	1.4	0.4	22.5	3.1	3.5	0.4	6.4	1.5	1.9	0
Total expenses	808	554	704	762	709	739	769	713	677	128	473	676	502	637	623	603	686	277	446	563	471	340	427	423	318	493	379	621	0
EBITDA	58.8	44.9	84.4	76.9	93.3	36.8	79.5	66.8	98.3	26.9	56	84.8	81.8	51.3	97.4	122	82.9	−5.4	63.5	74.5	43.1	22.2	13.4	19.7	15.1	36.3	16.2	27.1	0
EBITDA margin	6.9%	7.7%	10.9%	9.4%	12.0%	4.9%	9.7%	8.8%	13.0%	21.5%	11.1%	11.4%	14.4%	7.6%	13.9%	17.3%	11.0%	-2.0%	12.9%	12.1%	8.6%	6.3%	3.1%	4.6%	4.7%	7.1%	4.2%	4.3%	–
Finance costs	7.9	5	4.7	7	11.8	12	20.6	10.5	11.9	20.7	13	7.8	5	6.9	10.6	6.6	6.8	1.4	2.5	7.8	2.6	1.5	4.8	4.6	3.3	5.6	4.5	12.4	0
Depreciation	9.7	9.7	9.9	14.2	9.8	9.2	9.5	9.5	9.4	9.4	9.5	9.6	9.7	10.3	10.8	10.9	11.7	1.8	14.8	14.5	13.3	10.4	9.2	9.2	9.5	8.6	8.4	7.6	0
Profit before tax	42.7	41.8	74.3	81.2	89.2	20.6	54.6	48.4	79	−44.3	46.5	71.4	69.4	38.9	85.2	109	66.9	0.9	51.4	53.6	27.7	32.8	2.5	9.5	2.8	28.6	4.8	9	0
Tax	2.4	16.5	27.8	31	34.2	10.4	22.9	17.6	28.5	−15.3	18.7	27.4	26.3	16	0.8	2.1	1.7	1.7	2.7	2.7	3.3	−0.6	1.4	1.4	0.7	0.3	0.9	0.6	0
Net profit	60.2	29.5	54.1	61.2	66.7	19.5	38.5	35.2	62.6	−24.2	33.3	52.6	51.4	25.5	89.7	114	71.8	5.2	59.6	61.5	37.1	48.8	6.4	13.9	5.1	29.5	7.3	12.7	0
Net margin	7.1%	5.0%	7.0%	7.5%	8.5%	2.6%	4.7%	4.6%	8.3%	-19.4%	6.6%	7.1%	9.0%	3.8%	12.8%	16.1%	9.6%	1.9%	12.1%	10.0%	7.4%	13.9%	1.5%	3.2%	1.6%	5.7%	1.9%	2.0%	–
EPS (₹)	2.96	1.45	2.66	3.01	3.28	0.96	1.89	1.73	3.07	-1.19	1.78	2.80	2.74	1.32	4.28	5.74	3.50	0.25	3.65	3.58	1.86	2.40	0.32	0.61	0.66	1.31	0.26	0.81	0.00
Net profit YoY	−9.8%	+51.5%	+40.4%	+74.1%	+6.7%	+180.4%	+15.7%	−33.2%	+21.7%	−195.1%	−62.9%	−53.7%	−28.4%	+393.2%	+50.5%	+85.0%	+93.6%	−89.4%	+832.4%	+343.5%	+634.0%	+65.1%	−12.0%	+9.5%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY17
Revenue from operations	2,956	3,086	1,944	2,829	1,875	1,527	2,079	1,994
Other income	59.1	13.9	18.3	20.6	16.6	29.5	10.5	4.9
Total expenses	2,729	2,898	1,771	2,550	1,758	1,509	2,033	1,965
EBITDA	300	281	249	354	176	70.4	113	111
EBITDA margin	10.1%	9.1%	12.8%	12.5%	9.4%	4.6%	5.4%	5.6%
Finance costs	28.4	55	38	30.9	14.2	14.2	34.2	40.9
Depreciation	43.7	37.6	38.2	43.7	44.4	38.2	32.1	40.1
Profit before tax	287	203	143	300	134	47.6	57	37.2
Tax	110	79.5	57	20.5	10.3	3	2.7	4.3
Net profit	211	156	113	301	163	74.1	67.5	45.4
Net margin	7.2%	5.0%	5.8%	10.6%	8.7%	4.9%	3.2%	2.3%
EPS (₹)	10.39	7.64	5.55	14.83	8.02	3.98	3.14	2.22
Net profit YoY	+35.9%	+37.6%	−62.4%	+84.1%	+120.5%	+9.8%	–	–

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	395	−38	227	−30.7	−113
Investing cash flow	−262	−145	−175	−16.3	−149
Financing cash flow	−88.5	163	0.4	58.4	189
Capital expenditure	320	253	73.3	29.4	149
Free cash flow (CFO − capex)	75.6	−291	154	−60.1	−262

Net profit trend

annual, ₹ crore

FY21

₹74.1

FY22

₹163+121%

FY23

₹301+84%

FY24

₹113−62%

FY25

₹156+38%

FY26

₹211+36%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	14 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	22 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	23 May 2026	PDF XBRL
Q3 FY26	Consolidated	13 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	13 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	13 Nov 2025	PDF on NSE XBRL
Q2 FY26	Standalone	13 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

FY2617.31 MB FY2517.09 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 8.1×6.4×

P/B5Y avg 1.29×0.96×

ROEFY26, on average equity16.5%

Net margin7.2%

Debt / equity0.51×

Revenue CAGR (3Y)1.5%

Profit CAGR (3Y)-11.1%

EPS (TTM)₹10.06

Market cap₹1,318 Cr

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

P/B vs history

0.96×

vs 8-point avg 1.29× (−26%)

0.82× low1.29× avg1.52× high

History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹2,498 Cr+9%

Net worth₹1,370 Cr+14%

Total borrowings₹698 Cr−3%

Cash & bank balances₹94 Cr+92%

Investments₹44 Cr+18%

Inventories₹94 Cr+17%

Trade receivables₹14 Cr+14%

Trade payables₹258 Cr+9%

Change vs the same date a year earlier.

Revenue mix FY23

Agro Inputs (Urea Operations)99.9%result ₹343 Cr

Others (Agri Business)0.1%result ₹−2.7 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	53.38	53.38	53.38	53.38	53.38	53.38	53.38	53.38	53.38	53.38	53.38	53.38
FII	4.80	5.08	4.92	6.09	6.53	4.87	0.84	0.65	0.34	0.38	0.50	0.42
DII	0.14	0.14	0.17	0.14	0.29	0.30	1.17	1.17	1.69	1.68	1.68	2.09
of which MF	0.01	0.01	0.01	0.01	0.01	–	–	–	–	–	–	–
Retail	33.26	33.23	33.60	32.48	31.50	32.13	34.81	34.88	34.89	34.72	32.82	32.20
Other public	8.42	8.17	7.93	7.91	8.30	9.32	9.80	9.92	9.70	9.84	11.62	11.91

1,13,768 shareholders · NSE shareholding pattern filings.