NSE: KHAICHEM · BSE: 507794
KHAITAN CHEM & FERT LTD
Makes fertilizers and speciality chemicals from manufacturing sites in India, including a plant in Chhattisgarh (Rajnandgaon). The fertilizers segment generated ₹819.53 crore in FY26 — 75.8% of segment revenue — while chemicals and speciality chemicals contributed ₹261.995 crore, or 24.2%. Fertilizers delivered a 7.7% segment EBIT margin, below the 15.7% margin in chemicals and speciality chemicals. Total FY26 revenue was ₹1,001.63 crore. Coal is a key input and is transported between the company's plants, with the firm having paid a penalty in July 2026 for moving coal without a transit permit. The board has authorised raising the borrowing limit from ₹600 crore to ₹800 crore to support operations. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Fertilizers (76%), Chemicals & Speciality Chemicals (24%). Asset-heavy manufacturing in fertilizers and speciality chemicals.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 824 | 888 | 536 | 720 | 1,002 |
| EBITDA (ex other income) | 122 | 78 | (30) | 23 | 113 |
| margin % | 14.8 | 8.8 | (5.6) | 3.2 | 11.3 |
| Owners' profit | 79 | 42 | (70) | 1 | 65 |
| EPS, as reported (₹) | 8.20 | 4.34 | (7.27) | 0.14 | 6.66 |
| ROE % · ROCE % | 31.5 · 41.6 | 14.3 · 20.8 | (32.0) · (15.8) | 0.6 · 5.1 | 22.2 · 32.8 |
| Debt / equity (x) | 0.54 | 0.75 | 1.40 | 1.41 | 0.96 |
| Cash from operations | 27 | (85) | (55) | 44 | 44 |
| Capex | (15) | (33) | (12) | (5) | (9) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 231 | 199 | 161 | 234 | 309 | 266 | 193 | 221 |
| Profit before tax | (2) | 1 | 1 | 21 | 22 | 21 | 8 | 13 |
| Net profit | (3) | 13 | 9 | 21 | 21 | 20 | 1 | 11 |
| EPS (₹) | (0.32) | 1.29 | 0.89 | 2.21 | 2.21 | 2.11 | 0.13 | 1.13 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Fertilizers | 820 | 75.8 |
| Chemicals & Speciality Chemicals | 262 | 24.2 |
| Total, before eliminations | 1,082 | 100.0 |
Exhibit 4: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 5 Oct 2026 · Quarterly compliance certificate under SEBI Regulation 74(5) submitted | compliance | minimal | — | — |
| 15 Sept 2026 · Trading window closure from October 1 for September quarter results | compliance | minimal | — | — |
| 19 Aug 2026 · Credit rating affirmed at IND BBB-, removed from Rating Watch | credit debt | medium | — | — |
| 22 Jul 2026 · Khaitan Chem 44th AGM: all 7 resolutions cleared, Re 0.05 dividend | board shareholder meetings | low | — | — |
| 21 Jul 2026 · Khaitan Chem re-appoints Utsav Khaitan as Joint MD for 3 years | management changes | high | — | — |
| 21 Jul 2026 · 44th AGM concluded; dividend of Re 0.05/share declared; voting results awaited | board shareholder meetings | low | — | — |
| 14 Jul 2026 · Khaitan Chem Q1 FY27 results published; profit falls about 49% YoY | compliance | minimal | — | — |
| 13 Jul 2026 · Board comments on minor SEBI LODR fine for delayed dividend intimation | regulatory legal | medium | — | — |
| 13 Jul 2026 · Khaitan Chemicals Q1 FY27: Revenue down 5.7% YoY, PAT falls 49% | results | high | — | — |
| 13 Jul 2026 · Board approves Q1 FY27 results with unmodified auditor opinion | results | high | — | — |
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 |
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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.