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PARADEEPPHOSPHATES Diversified 15 May 2026

Paradeep Phosphates Ltd — Q4 FY26

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.

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Revenue ₹4,702 Cr +29%
EBITDA ₹484 Cr +33%
PAT ₹156 Cr +50%
EBITDA Margin 9%
Duration 51 min
Read Time 1 min read

✓ Verified against BSE filing

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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.

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Raw material price spike from Middle East tensions

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Quarter Snapshot

NPK volume growth 24.64 LMT
+22% YoY

NPK including TSP grew 22% to 24.64 LMT, outpacing industry decline of 1%.

EBITDA per ton (Q4) ₹5,700
+₹400 QoQ

Blended EBITDA per ton improved to ₹5,700 in Q4 from ₹5,300 for full year.

Sulfuric acid capacity addition 0.6 MTPA
+45% YoY

Commissioned 0.5 MTPA at Paradeep and 0.1 MTPA at Mangalore, increasing total capacity by 45%.

Farmer outreach 15M+
+15% YoY

Engaging with over 15 million farmers across 18 states, supported by 1 lakh+ retailers.

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Guidance and risk preview

Top guidance Phosphoric acid expansion to 0.7 MTPA by FY27

Phase 1 expansion from 0.5 to 0.7 MTPA at Paradeep is on track for commissioning in FY27.

Top risk Raw material price spike from Middle East tensions

Sulfur and ammonia prices have surged due to Middle East supply disruptions, impacting input costs.

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