Shree Pushkar Chemicals & Fertilisers Limited reported a 21.1% increase in revenue from operations to ₹976.60 crore for the financial year ended March 31, 2026. Profit after tax (PAT) rose 19.6% year-on-year to ₹70.1 crore, while EBITDA grew 18.7% to ₹99.5 crore, reflecting a margin of 10.2%. The company attributed the growth to higher volumes in the chemical segment and improved realizations in the fertiliser segment.

Financial Performance for FY26

The company delivered a strong return on equity of 12.2% and return on capital employed of 15.3% for the full year. The chemical segment grew by 25.2%, while the fertiliser segment grew by 16.5%. Consolidated volumes reached 3,25,000 metric tons, a growth of 2.5%.

Q4 FY26 Results

For the fourth quarter, revenue from operations stood at ₹218.2 crore. EBITDA was ₹22.1 crore with a margin of 10.1%, while PAT was ₹12.9 crore with a margin of 5.8%. The quarter's performance was affected by supply chain disruptions and raw material availability issues. The chemical segment reported sales of 13,725 metric tons, generating ₹126.4 crore in revenue, while the fertiliser segment recorded sales of 50,500 metric tons, contributing ₹91.8 crore.

Expansion and Capital Expenditure

Shree Pushkar Chemicals & Fertilisers Limited has a total planned capital expenditure of ₹512 crore. As of March 31, 2026, ₹189 crore has been incurred on ongoing projects. The company commissioned a 1.1 megawatt DC solar power plant at Haryana, bringing total installed solar capacity to 10.6 megawatt DC. Management indicated that while Unit 5 and Unit 6 are ready for trial production, commercial operations are delayed due to volatile raw material prices, specifically ammonia and sulphur, which have tripled. The company revised its revenue outlook for FY27 to approximately ₹1,250–₹1,300 crore, factoring in the loss of the Kharif season for the new units.

Shree Pushkar Chemicals & Fertilisers Limited has announced its audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2026. The board of directors, which met on May 18, 2026, approved the results and recommended a dividend for the fiscal year. The company published the financial results in newspapers on May 20, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Consolidated Financial Performance

For FY26, the company reported consolidated revenue from operations of Rs. 976.6 crores, registering a growth of 21.1% year-on-year from Rs. 806.3 crores in FY25. EBITDA for the year stood at Rs. 99.5 crores, up 18.7% YoY, with an EBITDA margin of 10.2%. Profit after tax (PAT) rose 19.6% to Rs. 70.1 crores from Rs. 58.6 crores in FY25, with a PAT margin of 7.1%. Earnings per share for FY26 stood at Rs. 21.6. During Q4 FY26, revenue from operations was Rs. 218.2 crores, while EBITDA came in at Rs. 22.1 crores with an EBITDA margin of 10.1%, and PAT at Rs. 12.9 crores.

The following table presents the consolidated financial performance for Q4 and FY26:

Segmental Performance

The Chemicals segment contributed Rs. 531.8 crores to FY26 revenue, a 25.2% YoY increase, while the Fertilisers segment contributed Rs. 444.8 crores, up 16.5% YoY. In terms of volumes, total consolidated volumes for FY26 stood at 3,25,200 MT, up 2.5% YoY, driven by a 27.9% increase in chemical volumes to 72,423 MT, partially offset by a 3.0% decline in fertiliser volumes to 2,52,777 MT.

The segmental revenue and volume details are as follows:

Other Financial Highlights

The company reported a non-lien deposit facility available of Rs. 140.7 crores. Return on equity (ROE) improved to 12.2% in FY26 from 11.6% in FY25, while return on capital employed (ROCE) improved to 15.3% from 14.2%. Net Debt/Equity stood at (0.01)x and Net Debt/EBITDA at (0.05)x, reflecting a virtually debt-free balance sheet.

Dividend Declaration

The board has recommended a dividend of ₹2.10 per equity share of the face value of ₹10 each (21%) for the financial year ended March 31, 2026. This dividend payout is subject to the approval of shareholders at the ensuing 33rd Annual General Meeting.

Capital Expenditure and Business Developments

As of March 31, 2026, the company had incurred capital expenditure of Rs. 189 crores across its ongoing expansion projects and manufacturing facilities, funded through a combination of internal accruals and preferential allotment. Total capex planned stands at Rs. 512 crores, with Rs. 323 crores outstanding. The ongoing expansion programme will add 4,50,000 MTPA of additional fertiliser capacity, 72,000 MTPA of additional chemical capacity, and 10.0 MW DC of additional solar capacity. The company commissioned a 1.1 MW DC Solar Power Plant at Hisar, Haryana during Q4 FY26, taking total installed solar power capacity to 10.6 MW DC. Post completion of all expansion projects, total solar capacity will reach 20.6 MW DC. The expansion of Madhya Bharat Phosphate Private Limited, a wholly owned subsidiary, at Meghnagar, Jhabua, Madhya Pradesh is progressing as planned, with civil work underway and 25% of proceeds from the preferential issue directed towards the Meghnagar Unit 8 project.

The key details of ongoing expansion projects are as follows:

Management Commentary

Commenting on the performance, Mr. Punit Makharia, Chairman and Managing Director, said: "Shree Pushkar concluded FY26 with a steady financial and operational performance across both the Chemical and Fertiliser segments. The performance during the year was supported by improved realizations across both segments and higher volumes in the Chemical segment. ROE improved to 12.2% in FY26 from 11.6% in FY25, while ROCE improved to 15.3% from 14.2%. During Q4 FY26, the Company reported Revenue from Operations of Rs. 218.2 Cr, impacted by ongoing global supply chain disruptions. While the commissioning of Ratnagiri Unit 5 and Unit 6 has experienced some delay due to external headwinds, the overall project execution remains on track. With continued emphasis on operational execution, capacity expansion, integration, and renewable energy initiatives, the Company remains focused on strengthening its manufacturing capabilities across both the Chemical and Fertiliser businesses."