Madhya Bharat Agro Products earnings calls.

Madhya Bharat Agro Products delivered resilient Q1 FY27 results with revenue flat at ₹416 croreCurrent reported value: ₹416 crore. No comparable prior figure is available in the source record. (+1.6Current 1.6 crore vs previous available quarter 62 crore.% YoY) due to supply-side disruptions from delayed monsoon and West Asia geopolitical tensions, while EBITDA grew 16% to ₹66 croreCurrent reported value: 16% to ₹66 crore. No comparable prior figure is available in the source record. and PAT rose 17% to ₹33 croreCurrent reported value: 17% to ₹33 crore. No comparable prior figure is available in the source record. thanks to lower-cost raw material inventory carried from Q4 FY26. The company maintained SSP utilization at 79%Current 79%. Reported change: Industry benchmark. and NPK/DAP at 66%Current 66%. Reported change: Industry benchmark., with sales exceeding production at 101,583 MTCurrent 101,583 MT. Reported change: +2,359 MT over production. vs 99,224 MT. The Dule Maharashtra expansion Phase 2 (330,000 MT DAP/NPK capacity) remains on track for October 2026 commissioning, while Phase 3 is targeted for October 2027. Management guided for over 50% revenue growth in coming quarters with existing plant utilization expected to reach 90% and Phase 2 running at 60% utilization. The three-year target of ₹3,500 crore revenue and 15.6 lakh MT capacity by FY28Current reported value: ₹3,500 crore revenue and 15.6 lakh MT capacity by FY28. No comparable prior figure is available in the source record. was reiterated. Key risks include ammonia/rock phosphate price volatility, monsoon dependency, and Phase 3 financing still being finalized with equity dilution not ruled out.