Chambal Fertilisers and Chemicals (CHAMBLFERT) Q2 25/26 earnings summary

Executive summary

• Q2 FY2026 revenue rose to INR 6,413 crore from INR 4,346 crore year-over-year; EBITDA increased to INR 882 crore from INR 834 crore; PAT grew 20% to INR 602 crore from INR 500 crore.

• H1 FY2026 revenue reached INR 12,110 crore, up from INR 9,279 crore; EBITDA at INR 1,812 crore versus INR 1,776 crore; PAT up 18% to INR 1,240 crore from INR 1,053 crore.

• Achieved strong revenue growth in Crop Protection Chemicals (CPC), Speciality Nutrients (SN), and Seeds, with 32% y-o-y revenue growth and 33% contribution growth in H1 FY 25-26.

• Six new products launched in Q2, with 22 new products in H1; biological portfolio revenue grew 80% year-over-year.

• Board approved unaudited standalone and consolidated results for the quarter and six months ended September 30, 2025; interim dividend of Rs. 5.00 per equity share declared.

Financial highlights

• Standalone revenue from operations for Q2 FY26: Rs. 6,412.76 crore, up from Rs. 4,346.18 crore in Q2 FY25; standalone net profit for Q2 FY26: Rs. 601.77 crore, up from Rs. 500.42 crore.

• Standalone EBITDA increased 6% y-o-y in Q2 and 2% in H1; PAT up 20% in Q2 and 18% in H1.

• Consolidated PAT grew 21% y-o-y in Q2 and 22% in H1, aided by higher margins at the IMACID joint venture.

• P&K fertilisers and CPC & SN segments drove higher volumes and margins; Urea revenue declined due to lower production.

• Cash on books as of Q2 end was about INR 700 crore.

Outlook and guidance

• TAN plant operations expected to begin January 2026, with revenue recognition starting Q4 FY2026.

• Phosphoric acid capacity expansion to 7 lakh metric tons targeted for December 2026.

• Management expects to make up most of the urea production shortfall in H2.

• Good Rabi crop prospects expected due to above-normal monsoon rainfall, though late rains may delay sowing by about 15 days in some regions.

• Results prepared based on current government policies for urea and fertiliser subsidies, with adjustments for input price changes.