NPK volume growth
24.64 LMT
+22% YoY
NPK including TSP grew 22% to 24.64 LMT, outpacing industry decline of 1%.
PARADEEPPHOSPHATES
Other
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.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
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.
Management 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.
Management guidance expansionCapex of ₹600 Cr in FY27
Normal capex for FY27 is around ₹600 Cr, with financial closure already completed.
Management guidance capexIncremental volumes from debottlenecking in H2 FY27
Debottlenecking of granulation at Paradeep will add ~0.2 MTPA capacity, expected in second half of FY27.
Management guidance growthBackward integration benefit to flow in FY27
Benefits from new sulfuric acid plants and phosphoric acid expansion will improve EBITDA per ton in FY27.
Management guidance marginsKey Risks
Raw material price spike from Middle East tensions
Sulfur and ammonia prices have surged due to Middle East supply disruptions, impacting input costs.
high · management_commentarySubsidy receivable buildup
Subsidy outstanding increased to ₹3,800 Cr, raising working capital requirements; management expects unwinding in Q1.
medium · analyst_questionPotential shift in product mix due to sulfur constraints
Company may need to reduce sulfur-intensive NPK production, impacting margin profile.
medium · management_commentaryPolicy risk on NBS for NPK
Government's nutrient-based subsidy may not fully compensate for raw material cost increases, squeezing margins.
medium · analyst_questionNotable 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.
Frequently Asked Questions
What was Paradeep Phosphates's revenue in Q4 FY26?
Paradeep Phosphates reported revenue of ₹4,702 Cr in Q4 FY26, representing a +29% change compared to the same quarter last year.
What guidance did Paradeep Phosphates management give for FY27?
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. Capex of ₹600 Cr in FY27: Normal capex for FY27 is around ₹600 Cr, with financial closure already completed. Incremental volumes from debottlenecking in H2 FY27: Debottlenecking of granulation at Paradeep will add ~0.2 MTPA capacity, expected in second half of FY27. Backward integration benefit to flow in FY27: Benefits from new sulfuric acid plants and phosphoric acid expansion will improve EBITDA per ton in FY27.
What are the key risks for Paradeep Phosphates in FY27?
Key risks include Raw material price spike from Middle East tensions — Sulfur and ammonia prices have surged due to Middle East supply disruptions, impacting input costs.; Subsidy receivable buildup — Subsidy outstanding increased to ₹3,800 Cr, raising working capital requirements; management expects unwinding in Q1.; Potential shift in product mix due to sulfur constraints — Company may need to reduce sulfur-intensive NPK production, impacting margin profile.; Policy risk on NBS for NPK — Government's nutrient-based subsidy may not fully compensate for raw material cost increases, squeezing margins..
Did Paradeep Phosphates meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Paradeep Phosphates Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.