NSE: PARADEEP · BSE: 543530
PARADEEP PHOSPHATES LTD
Makes phosphatic fertilizers and is expanding into industrial chemicals at its Paradeep complex in Odisha. Q1 FY27 revenue reached Rs 6,124 cr, up 36% year-on-year, on sales volume of 9.85 LMT. The core phosphoric acid plant at Paradeep is being expanded in Phase 1 to a target capacity of 700,000 MTPA. The board has approved a Rs 250 cr Aluminium Fluoride (AlF3) plant with 15,000 MTPA capacity that will convert HFSA, a by-product from phosphoric acid production, into a higher-value industrial chemical, diversifying the product mix. Following the merger of Mangalore Chemicals and Fertilizers (treated as effective from April 2024, with NCLT approval from 16 October 2025), prior-year figures have been restated and the consolidated scope is wider. Materials are the dominant input cost at 60.7% of FY26 revenue, followed by other opex at 14.7%, depreciation at 1.8% and employee cost at 1.5%; FY26 capex ran at 4.0% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Phosphatic fertilizers, Phosphoric acid, Industrial chemicals (Aluminium Fluoride). Asset-heavy fertilizer manufacturer with by-product-based diversification into industrial chemicals
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 7,859 | 13,341 | 11,575 | 13,820 | 21,826 |
| EBITDA (ex other income) | 671 | 801 | 649 | 1,256 | 2,113 |
| margin % | 8.5 | 6.0 | 5.6 | 9.1 | 9.7 |
| Owners' profit | 398 | 304 | 0 | 0 | 0 |
| EPS, as reported (₹) | 6.91 | 3.90 | 1.22 | 6.77 | 9.60 |
| ROE % · ROCE % | 17.9 · 21.6 | 8.7 · 16.8 | 2.8 · 11.4 | 13.5 · 22.7 | 14.7 · 23.1 |
| Debt / equity (x) | 1.33 | 1.33 | 1.13 | 1.07 | 1.02 |
| Cash from operations | (44) | (2,377) | 1,437 | 1,386 | (1,012) |
| Capex | (620) | (436) | (412) | (369) | (868) |
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 | 3,844 | 4,105 | 3,494 | 3,754 | 6,872 | 5,749 | 4,702 | 6,124 |
| Profit before tax | 296 | 220 | 223 | 342 | 469 | 233 | 202 | 526 |
| Net profit | 228 | 159 | 160 | 256 | 342 | 182 | 156 | 393 |
| EPS (₹) | 2.79 | 1.95 | 1.96 | 3.14 | 3.30 | 1.75 | 1.50 | 3.78 |
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 | 51,185 | 27.9 | 3.90 | 14.8 | 14.5 | 18.6 | 17.2 | 9.9 |
| FACT LTD | 43,742 | 1572.1 | 31.81 | 134.8 | 1.8 | 1.8 | — | (0.2) |
| PARADEEP PHOSPHATES LTD ◆ | 14,410 | 13.4 | 2.12 | 9.3 | 14.7 | 16.5 | — | 12.5 |
| CHAMBAL FERTILIZERS LTD | 14,379 | 7.5 | 1.38 | 5.4 | 18.8 | 20.7 | 10.3 | 17.5 |
| MADHYA BHARAT AGRO P. LTD | 7,309 | 11.4 | 13.30 | — | 27.3 | 16.6 | — | 17.1 |
| KRISHANA PHOSCHEM LIMITED | 6,510 | 8.2 | 11.61 | — | 32.1 | 30.2 | — | 17.9 |
| GUJ STATE FERT & CHEM LTD | 5,428 | 7.8 | 0.44 | 4.9 | 5.5 | 6.5 | 7.5 | 7.4 |
| RASHTRIYA CHEMICALS & FER | 5,330 | 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) | 13.4 | 10.5 | 15 of 20 | 26% |
| P/B | 2.1 | 0.9 | 18 of 23 | 23% |
| ROCE | 16.5 | 8.8 | 8 of 23 | 68% |
| ROE | 14.7 | 8.3 | 7 of 23 | 73% |
| Debt / Equity | 1.0 | 0.3 | 18 of 23 | 23% |
| EBITDA margin | 12.5 | 8.0 | 7 of 21 | 70% |
| Revenue growth | 63.1 | 16.3 | 3 of 21 | 90% |
| Profit growth | 53.4 | 6.4 | 6 of 23 | 77% |
| Market cap | 14410 | 803 | 3 of 23 | 91% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to review September 2026 quarterly and half-year results | results | low | — | — |
| 23 Oct 2026 · Paradeep plans Rs 4,750 crore chemical and fertilizer expansion | compliance | low | — | — |
| 13 Oct 2026 · Paradeep Phosphates appoints Raj Kumar Agrawal as Independent Director | management changes | medium | — | — |
| 13 Oct 2026 · Routine compliance certificate on share dematerialisation for Jul-Sep 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 18 Sept 2026 · All 8 resolutions passed at 44th AGM, including dividend and ESOP plan | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Paradeep Phosphates holds 44th AGM, approves dividend and ESOP plan | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Paradeep Phosphates to attend Elara Capital investor meet in UK | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Investor/Analyst Meet in UK on 21-22 Sept 2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Paradeep Phosphates to attend Elara Capital Investor Conference on Sep 1, 2026 | board shareholder meetings | low | — | — |
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.