Chambal Fertilisers and Chemicals (CHAMBLFERT) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 standalone revenue reached INR 5,698 crore, with EBITDA at INR 929 crore and PAT at INR 638 crore, reflecting a 16% year-on-year growth at the consolidated level.

• Strong growth in Crop Protection Chemicals and Speciality Nutrients, with 32% revenue and 26% contribution growth year-over-year; 13 new CPC products and two hybrid seeds launched.

• Biologicals segment saw an 80% revenue increase year-over-year, with new products and variants introduced.

• Urea production and sales declined due to a temporary breakdown at Gadepan 2, now resolved; P&K fertilisers saw higher volumes supported by government policies.

• The seed business was launched, contributing INR 6 crore in sales, with more products in the pipeline.

Financial highlights

• Standalone and consolidated Q1 FY26 sales at INR 5,698 crore, up 16% year-over-year; EBITDA at INR 929 crore, PAT at INR 638 crore, and EPS at INR 15.92.

• Consolidated Q1 FY26 EBITDA at INR 840 crore, PAT at INR 549 crore, up 23% and 14% year-over-year, respectively.

• Revenue from CPC, SN & Seeds rose to INR 458 crore from INR 343 crore year-over-year.

• Subsidy outstanding at quarter-end was INR 1,326 crore; subsidy receipts remain timely.

• Net cash on the balance sheet stood at around INR 1,600 crore as of June 30.

Outlook and guidance

• Urea margins are expected to remain stable due to formula-based pricing; P&K margins depend on strategic sourcing and market MRP.

• Confident in achieving the revised FY26 target of INR 1,500 crore revenue in CPC and SN.

• TAN project is 80% complete and on track for completion, with INR 918 crore spent as of June 30, 2025.

• Four new SN products and two more seed products to be launched in Q2 FY26.

• IMACID JV phosphoric acid capacity expansion to 700,000 tonnes expected by late 2026 or early 2027.