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Revenue
₹2,785 Cr
verification pending
Revenue YoY
14%
reported change
EBITDA
₹155 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Chambal Fertilisers reported a strong Q4 FY26 with standalone revenue from operations growing 14% YoY to ₹2,785 crore, EBITDA surging 56% YoY to ₹155 crore (margin 9.16%), and PAT up 46% YoY to ₹45 crore. The complex fertilizer segment drove growth with revenues up 94% YoY, while the crop protection and specialty nutrients business grew 30% for the full year. The technical ammonium nitrate (TAN) project has entered commissioning, with management targeting 75-80% capacity utilization in the first year. Strategic raw material purchases have secured coverage for July-August. Risks include elevated gas prices pressuring working capital and potential supply chain disruptions from geopolitical tensions in West Asia.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to reach 75-80% utilization in the first year of operations, with production of ~170,000 tons over 9 months.
- Management is ready to invest ₹9,500-10,000 crore in a new urea plant, pending government policy. Land, water, and environmental clearances are in place.
- Total capex for FY27 estimated at ~₹500 crore, comprising ₹170-180 crore routine capex and balance for TAN project completion.
- Strategic purchases made early in the year ensure raw material availability for complex fertilizers through July-August 2026.
Risks flagged
- Higher gas costs increase working capital requirements; management is seeking interim relief from the government but no assurance given.
- West Asia tensions have caused volatility in ammonia and sulfur prices, and logistics constraints (e.g., ships stuck in Hormuz) could impact production.
- If gas prices stay high, subsidy receivables may increase, straining cash flows despite government support assurances.
- Management cited controlled pricing and GST complexities as barriers to domestic phosphatic capacity expansion, limiting growth in that segment.
Key quotes
- We have covered at least July August in terms of our stocks for complex fertilizers.
- The market for tan is buoyant. I would say the demand is there...
- Whatever it takes is the word line there, whatever it takes to support the segment will be available.
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