Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹4,702 Cr
verified against source
Revenue YoY
29%
reported change
EBITDA
₹484 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Paradeep Phosphates delivered a robust Q4 FY26 with revenue of ₹4,720 Cr (up 29% YoY) and PAT of ₹161 Cr (up 50% YoY), driven by strong NPK volume growth of 22% and near-100% capacity utilization. EBITDA per ton improved to ₹5,700 in Q4 vs ₹5,300 for the full year, aided by backward integration benefits from new sulfuric acid plants. Management highlighted adequate raw material coverage for Q1 FY27 and ongoing government engagement for Q2, but flagged elevated sulfur/ammonia prices due to Middle East tensions. The company targets commissioning of phosphoric acid expansion to 0.7M tons by FY27 and expects incremental volumes from debottlenecking in H2 FY27. Key risk: sustained raw material price spikes could pressure margins if government support is insufficient.
Colored figures show movement against the previous available record.
Guidance to track
- Phase 1 expansion from 0.5 to 0.7 MTPA at Paradeep is on track for commissioning in FY27.
- Normal capex for FY27 is around ₹600 Cr, with financial closure already completed.
- Debottlenecking of granulation at Paradeep will add ~0.2 MTPA capacity, expected in second half of FY27.
- Benefits from new sulfuric acid plants and phosphoric acid expansion will improve EBITDA per ton in FY27.
Risks flagged
- Sulfur and ammonia prices have surged due to Middle East supply disruptions, impacting input costs.
- Subsidy outstanding increased to ₹3,800 Cr, raising working capital requirements; management expects unwinding in Q1.
- Company may need to reduce sulfur-intensive NPK production, impacting margin profile.
- Government's nutrient-based subsidy may not fully compensate for raw material cost increases, squeezing margins.
Key quotes
- We retain our price leadership as market is concerned so we've taken a price increase in NPK however we also working very closely with the government because the entire price increase cannot be passed on to the customers.
- The delta between the imported sulfur and indigenous sulfuric acid around 3,000 rupees but it depends on what price you are sourcing this sulfur. At this current level it will be reduced and it will be at around 1,500 to 2,000 level of delta.
- We are now more focusing on low sulfur grade products which is increasing DAP and other things where there is a clarity of policy and we are trying to minimize our sulfur requirement.
Research modules