Gujarat State Fertilizers & Chemicals Limited has informed the Exchange about Transcript
GSFC · price
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GSFC reported Q1 FY26 consolidated revenue of Rs. 2,184 crores (up 1% YoY, 14% QoQ), PBT of Rs. 184 crores (up 63% YoY, 108% QoQ), and PAT of Rs. 139 crores (up 59% YoY). Fertilizer segment EBIT rose to Rs. 137 crores from Rs. 86 crores, driven by NPK trading, higher APS/AS sales, and improved P&K realizations. Industrial segment turned profitable at Rs. 25 crores EBIT, largely from Ammonia trading (Rs. 20 crores margin). Management commissioned 3 projects: 15 MW solar at Charanka, Urea-II energy revamp (achieved <6 Gcal/MT), and 37.5 MW share in GIPCL solar, saving ~Rs. 20 crores in power costs. Volume guidance for FY26 is 23–24 lakh MT (Q2: 5.8–6 lakh MT). Margins on AS/APS have squeezed to Rs. 2,000–2,500/MT from Rs. 3,000–3,500/MT earlier due to sharp rise in Phosphoric and Sulphuric Acid prices, and a subsidy revision is expected from October 1. New Phosphoric-Sulphuric Acid (PSA) plant at Sikka (~Rs. 1,600–1,700 crores) is targeted for FY27–28 commissioning.
Strong YoY profit growth and debt-free balance sheet are positives, but margin pressure from high input costs and Caprolactam-Benzene spread weakness (Chinese dumping) are near-term headwinds. Subsidy revision expected in October 2025 is a key catalyst that could restore fertilizer segment margins and improve cash flows.