Investor Presentation for the quarter and year ended March 31, 2026.
CHAMBLFERT · price
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Chambal Fertilisers reported strong FY26 consolidated operating income of INR 207,937 million, up 25% YoY, with net profit of INR 19,533 million, up 18% YoY. The company is India's largest private-sector urea manufacturer with 3.4 MMTPA capacity across three plants at Gadepan, Rajasthan. Key highlights include: (1) EBITDA margins declined to 12.88% in FY26 from 14.92% in FY25, indicating margin pressure despite revenue growth; (2) The Technical Ammonium Nitrate (TAN) plant with 2.4 lakh MTPA capacity is in commissioning phase, representing a diversification into industrial chemicals; (3) Biologicals segment showed robust growth with 57% revenue increase and 30% volume growth in FY26; (4) The company maintains a healthy balance sheet with near-zero net debt to equity (0.01%) and strong credit rating of AA+; (5) Working capital days increased to 51 in FY26 from 57 in FY25.
The company delivered robust revenue and profit growth driven by volume expansion in crop protection and specialty nutrients, though margin compression from 15% to 13% may concern investors focused on profitability trends. The TAN plant commissioning signals meaningful diversification into industrial chemicals and could provide growth catalysts going forward.