Shree Pushkar Chemicals Reports 14.6% Revenue Growth in Q3 FY26, PAT Up 13.5%
Shree Pushkar Chemicals & Fertilisers Limited reported strong Q3 FY26 results with revenue growing 14.6% to Rs 248.9 crores and PAT increasing 13.5% to Rs 18.1 crores. The chemicals segment drove growth with 38.1% revenue increase and 75.6% volume growth, while fertiliser segment saw temporary decline. Nine-month performance was exceptional with 29.2% revenue growth to Rs 758.5 crores and 36.0% PAT growth to Rs 57.2 crores. The company continues expansion with Ratnagiri units scheduled for Q4 FY26 commissioning and Meghnagar project progressing with land acquisition and civil work completion.
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Shree pushkar chemicals & Fertilisers Limited announced robust financial results for Q3 FY26, demonstrating sustained growth momentum across key business segments. The company reported revenue from operations of Rs 248.9 crores for the quarter ended December 31, 2025, representing a solid 14.6% increase compared to the same period last year.
Financial Performance Highlights
The company's profitability metrics showed encouraging trends during the quarter. Profit after tax reached Rs 18.1 crores, marking a 13.5% year-on-year growth, while maintaining a consistent PAT margin of 7.3%. Earnings per share for Q3 FY26 stood at Rs 5.59, reflecting the company's ability to generate value for shareholders.
| Metric | Q3 FY26 | Q3 FY25 | YoY Growth | 9M FY26 | 9M FY25 | YoY Growth |
|---|---|---|---|---|---|---|
| Revenue from Operations (Rs Cr) | 248.9 | 217.1 | 14.6% | 758.5 | 586.9 | 29.2% |
| EBITDA (Rs Cr) | 22.1 | 22.4 | (1.7)% | 77.4 | 59.2 | 30.8% |
| PAT (Rs Cr) | 18.1 | 15.9 | 13.5% | 57.2 | 42.1 | 36.0% |
| PAT Margin | 7.3% | 7.3% | - | 7.5% | 7.2% | - |
For the nine-month period ending December 31, 2025, the company delivered exceptional performance with revenue growing 29.2% to Rs 758.5 crores and PAT surging 36.0% to Rs 57.2 crores.
Segment-wise Performance Analysis
The chemicals division emerged as a key growth driver, generating Rs 156 crores in Q3 FY26 revenue, representing a substantial 38.1% year-on-year increase. Volume growth in chemicals was particularly impressive, with 26,595 MT sold during the quarter compared to 15,147 MT in Q3 FY25, marking a 75.6% increase.
| Segment | Q3 FY26 Revenue (Rs Cr) | Q3 FY25 Revenue (Rs Cr) | YoY Growth | Q3 FY26 Volume (MT) | Q3 FY25 Volume (MT) | Volume Growth |
|---|---|---|---|---|---|---|
| Chemicals | 156 | 113 | 38.1% | 26,595 | 15,147 | 75.6% |
| Fertilisers | 93 | 104 | (10.6)% | 53,448 | 70,046 | (23.7)% |
The fertiliser segment experienced a revenue decline of 10.6% to Rs 93 crores, with volumes dropping 23.7% to 53,448 MT. Despite this quarterly decline, the nine-month fertiliser revenue showed positive growth of 22.2%.
Strategic Expansion Initiatives
The company continues to execute its ambitious expansion strategy across multiple locations. Ratnagiri Unit 5 and Unit 6 are scheduled for commissioning in Q4 FY26, which will add significant capacity to both chemicals and fertiliser operations.
| Project | Location | Planned Capex (Rs Cr) | Incurred Capex (Rs Cr) | Target Completion |
|---|---|---|---|---|
| Unit 8 | Meghnagar, Madhya Pradesh | 350 | 27 | March 2028 |
| Unit 6 | Ratnagiri, Maharashtra | 110 | 50 | February 2026 |
| Unit 5 | Ratnagiri, Maharashtra | 38 | 36 | February 2026 |
At the Meghnagar Unit 8 project, the company has completed land acquisition and commenced civil work, with orders for critical plant and machinery currently being placed. This facility will add 3,00,000 MTPA capacity for complex fertilisers with a total planned investment of Rs 350 crores.
Business Development and Sustainability
Shree Pushkar incorporated Dyecol Bangladesh Limited as a wholly owned subsidiary to serve as the marketing and representative office in Bangladesh. This strategic move aims to strengthen the company's international presence and expand market reach.
The company is enhancing its sustainability profile through solar power expansion. Currently operating a 9.5 MWDC solar plant, the company is adding two additional installations that will bring total solar capacity to 20.6 MWDC upon completion.
Management Commentary
Chairman and Managing Director Punit Makharia highlighted the company's continued momentum, noting the 14.6% revenue growth driven by increased volumes and strong chemical business performance. He emphasized the progress on expansion projects and the company's commitment to sustainable growth through renewable energy initiatives.
The company completed a preferential allotment to promoters during the quarter, marking the third such allotment and demonstrating continued promoter confidence in the growth strategy. Additionally, the company maintains a non-lien deposit facility of Rs 176.75 crores, providing financial flexibility for ongoing operations and expansion plans.
Historical Stock Returns for Shree Pushkar Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.50% | -1.28% | +2.88% | -5.50% | +25.05% | +139.47% |
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