MFL Q3 FY26: Revenue falls 37%, profit plunges 96% YoY on plant shutdowns

Emphasis of matterRevenue declinedEBITDA margin compressionAuditor changed mid-yearResults View source PDF Explain this filing

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prior close

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%-2.1% vs market

Fertilizers peers, median of 19sector-0.7%-1.9% vs sector

On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 1.9 pts less than its Fertilizers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

MFL reported Q3 FY26 standalone revenue of Rs 41,869 lakhs, down about 48% YoY, and 9M revenue of Rs 1,60,114 lakhs, down 37%. Q3 profit crashed 97% to Rs 252 lakhs as Ammonia and Urea plants were shut 37 days for annual turnaround and Complex Fertilizer plants were closed the entire quarter due to safety and manpower issues. Auditor flagged GOI loan defaults, pending subsidy rate approval, and a 10% energy norm penalty of Rs 15,277 lakhs deducted from subsidy. Q1 figures were reviewed by the previous auditor, indicating a mid-year auditor change.

Likely market impact

Sharp profit decline, subsidy uncertainty, and GOI loan default flagged by auditors raise concerns despite remaining profitable.