CHAMBAL FERTILIZERS LTD

Manufactures and sells fertilisers in India across three main lines. Own-manufactured urea from the company's Gadepan plants at Kota, Rajasthan contributed Rs 12,565.61 cr (60.4% of segment revenue) at a 14.7% EBIT margin in FY26; complex fertilisers (NPK and other grades) contributed Rs 7,025.14 cr (33.8%) at a 4.0% margin; and crop protection chemicals, speciality nutrients and seeds contributed Rs 1,202.91 cr (5.8%) at a 23.5% margin. FY26 total revenue was Rs 20,793.66 cr with profit after tax of Rs 1,953.27 cr. Operations are being expanded: a Technical Ammonium Nitrate project has begun commissioning at Gadepan, a planned fourth urea plant is being prepared subject to board approval and government policy, and a Morocco joint venture is being expanded. Materials at 28.7% of revenue (Rs 5,958.65 cr) form the largest cost line, driven mainly by natural gas, ammonia and sulphur. Urea pricing operates under the government-controlled New Urea Policy framework; total subsidy and trade receivables stood at Rs 3,300 cr at end of Q1 FY27.