Shree Pushkar Chemicals & Fertilisers: Q1 FY27 Results

Q1 FY27 Revenue: ₹280.1 crore
Q1 FY27 PAT: ₹22.9 crore

Reader Takeaway: Revenue growth and stable margins despite volume drop; future expansion plans are key.

What just happened

Shree Pushkar Chemicals & Fertilisers reported its results for the first quarter of FY27 (Q1 FY27). Revenue increased by 10.0% year-on-year to ₹280.1 crore. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) grew 9.7% to ₹31.9 crore, and Profit After Tax (PAT) rose 9.4% to ₹22.9 crore. The company maintained stable EBITDA and PAT margins at 11.4% and 8.2% respectively.

Why this matters

The company demonstrated resilience by growing its top line and profits even as sales volumes declined in both its Chemicals and Fertilisers segments. This was achieved through improved product realisations, which compensated for lower sales volumes and kept profit margins steady.

The backstory

In the previous fiscal year, Shree Pushkar Chemicals & Fertilisers has been focused on capacity expansion and strategic land acquisitions to support long-term growth. The company is also navigating challenges related to raw material price volatility.

What changes now

The company has acquired approximately 30,000 sq. metres of land near its existing Unit 1 for ₹9.33 crore, intended for future capacity expansion. Civil work is also progressing at the subsidiary's Madhya Bharat Phosphate facility. However, management is exercising caution regarding the commissioning of new units at Ratnagiri (Units 5 and 6) due to raw material price and availability concerns.

Risks to watch

Key concerns include significant year-on-year declines in sales volumes for both the Chemicals segment (-38.6%) and the Fertilisers segment (-12.8%). The company's management is also closely monitoring raw material volatility, which has influenced the decision to delay the operational start of new expansion units.

Peer comparison

While specific peer data for Q1 FY27 is not provided in the filing, the chemical and fertiliser sectors often experience margin pressures due to input cost fluctuations and demand-supply dynamics. Shree Pushkar's ability to maintain margins amidst volume declines will be a critical differentiator.

Context metrics (time-bound)

• Q1 FY27 Revenue: ₹280.1 crore (vs. ₹254.5 crore in Q1 FY26)
• Q1 FY27 EBITDA: ₹31.9 crore (vs. ₹29.1 crore in Q1 FY26)
• Q1 FY27 PAT: ₹22.9 crore (vs. ₹21.0 crore in Q1 FY26)
• Chemicals Segment Revenue Growth: 17.1% YoY
• Fertilisers Segment Revenue Growth: 4.0% YoY
• Chemicals Segment Volume Decline: 38.6% YoY
• Fertilisers Segment Volume Decline: 12.8% YoY

What to track next

Investors will be keen to observe the company's progress on capacity expansions at Meghnagar and Ratnagiri. Additionally, a recovery in sales volumes and sustained management of raw material costs will be crucial for future performance.