Chambal Fertilisers and Chemicals (CHAMBLFERT) Q4 24/25 earnings summary

Executive summary

• Q4 standalone revenue was INR 2,449 crore with PAT of INR 100 crore, up 16% year-over-year; FY25 EBITDA was INR 2,838 crore, up 17%, and PAT was INR 1,657 crore, up 24% year-over-year.

• Strong growth in Crop Protection Chemicals and Speciality Nutrients, with 41% y-o-y contribution growth and 146% revenue growth in new territories for FY25.

• Urea production and sales volumes increased, with a ~3% improvement in energy efficiency and a 125 MT/day rise in production at Gadepan Plant I & II y-o-y.

• 12 new CPC products launched in FY25, with 18 more in the pipeline for FY26; biologicals contributed 8% of CPCSN revenue.

• IMACID JV in Morocco delivered strong performance due to higher sales volume and margins.

Financial highlights

• Standalone revenue for FY25 was Rs 16,646 crore, down 7% y-o-y, mainly due to lower Urea and P&K sales volumes.

• Standalone EBITDA rose 17% y-o-y to Rs 2,838 crore, PBT up 27% to Rs 2,459 crore, and PAT up 24% to Rs 1,657 crore.

• Consolidated PAT increased 29% y-o-y to Rs 1,649 crore.

• Standalone EPS for FY25 was Rs 41.35, up from Rs 32.19; consolidated EPS was Rs 41.17, up from Rs 30.84.

• Net debt as of March 31 was negative.

Outlook and guidance

• Technical Ammonium Nitrate (TAN) project to commence commercial operations in January 2026, with ramp-up to 80-90% capacity expected in FY27.

• 18 new products planned for launch in FY26, including biofungicide and bionematicide; hybrid variety seeds to be introduced in Q1 FY26.

• CapEx for FY25-26 projected at INR 1,200 crore, funded through internal accruals.

• Normal monsoon forecast and favorable climate expected to support Kharif season and robust demand.

• Digital scaling of the "Seed to Harvest" program and new water-soluble formulations planned.