NSE: AGROPHOS
AGRO PHOS INDIA LIMITED
Manufactures and trades fertilizers, with the entire business reporting under a single segment. The product line includes Single Super Phosphate (SSP), which is supplied to Rashtriya Chemicals and Fertilizers Limited (RCF) under a March 2026 MoU for marketing and distribution through RCF's dealer network in Maharashtra and Uttar Pradesh. The company has confirmed that it operates only in manufacturing and trading of fertilizers, which constitutes a single reportable and geographical segment. FY26 revenue was 147.9514 crore, against net profit of 7.0606 crore and an EBITDA margin of 11.0774%. A proposed acquisition of Bharat Phosphates & Chemicals Private Limited was mutually terminated in May 2026, with no material adverse impact stated. The company is not classified as a Large Corporate under SEBI guidelines. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fertilizers (100%). Single-segment, small-scale fertilizer manufacturer and trader
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 107 | 120 | 148 |
| EBITDA (ex other income) | (3) | 14 | 16 |
| margin % | (2.5) | 11.7 | 11.0 |
| Owners' profit | (5) | 5 | 7 |
| EPS, as reported (₹) | (2.59) | 2.48 | 3.48 |
| ROE % · ROCE % | (10.9) · (7.5) | 7.7 · 18.8 | 10.0 · 19.5 |
| Debt / equity (x) | 0.59 | 0.43 | 0.42 |
| Cash from operations | 3 | 3 | 4 |
| Capex | (1) | (0) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24 | 32 | 23 | 30 | 40 | 40 | 36 | 32 |
| Profit before tax | 0 | 4 | 3 | 3 | 6 | 2 | 1 | 0 |
| Net profit | (0) | 0 | 2 | 2 | 4 | 2 | 1 | (0) |
| EPS (₹) | (0.10) | 0.21 | 1.22 | 1.15 | 2.15 | 1.03 | 0.45 | (0.14) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| COROMANDEL INTERNTL. LTD | 50,253 | 27.4 | 3.83 | 14.5 | 14.5 | 18.6 | 17.2 | 9.9 |
| FACT LTD | 43,930 | 1578.8 | 31.95 | 135.4 | 1.8 | 1.8 | — | (0.2) |
| CHAMBAL FERTILIZERS LTD | 14,451 | 7.5 | 1.39 | 5.4 | 18.8 | 20.7 | 10.3 | 17.5 |
| PARADEEP PHOSPHATES LTD | 14,327 | 13.4 | 2.11 | 9.2 | 14.7 | 16.5 | — | 12.5 |
| MADHYA BHARAT AGRO P. LTD | 7,399 | 11.5 | 13.46 | — | 27.3 | 16.6 | — | 17.1 |
| KRISHANA PHOSCHEM LIMITED | 6,708 | 8.4 | 11.96 | — | 32.1 | 30.2 | — | 17.9 |
| GUJ STATE FERT & CHEM LTD | 5,459 | 7.9 | 0.44 | 5.0 | 5.5 | 6.5 | 7.5 | 7.4 |
| RASHTRIYA CHEMICALS & FER | 5,327 | 11.9 | 1.04 | 7.8 | 8.3 | 8.2 | 17.4 | 7.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.2 | 10.7 | 3 of 20 | 90% |
| P/B | 0.6 | 0.9 | 8 of 23 | 68% |
| ROCE | 14.2 | 8.8 | 11 of 23 | 55% |
| ROE | 10.0 | 8.3 | 11 of 23 | 55% |
| Debt / Equity | 0.4 | 0.3 | 13 of 23 | 46% |
| EBITDA margin | 4.7 | 8.0 | 18 of 21 | 15% |
| Revenue growth | 7.1 | 16.3 | 14 of 21 | 35% |
| Profit growth | (112.3) | 6.4 | 21 of 23 | 9% |
| Market cap | 44 | 805 | 20 of 23 | 14% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Certificate filing under SEBI Depositories Regulations 2018 | compliance | minimal | — | — |
| 3 Oct 2026 · AGM voting results: all 9 resolutions passed | compliance | minimal | — | — |
| 30 Sept 2026 · Agro Phos: Mrs Sakina Dharwala approved as Independent Director | management changes | medium | — | — |
| 30 Sept 2026 · Re-appointment of Independent Director for second term | management changes | medium | — | — |
| 30 Sept 2026 · 24th AGM held on Sep 30, 2026; key resolutions passed | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results | compliance | minimal | — | — |
| 15 Sept 2026 · Clarification on non-submission of consolidated financial results for Q1 FY27 | compliance | low | — | — |
| 8 Sept 2026 · NSE seeks clarification on missing consolidated results for Q1 FY27 | regulatory legal | high | — | — |
| 8 Sept 2026 · New credit ratings assigned by Acuite Ratings to Agro Phos India | credit debt | medium | — | — |
| 8 Sept 2026 · Letter sent to shareholders without registered email about FY26 Annual Report | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.