Chambal Fertilisers and Chemicals (CHAMBLFERT) Q3 25/26 earnings summary

Executive summary

• Maintained leadership as India's largest private urea producer, contributing 10% of domestic supply and significant shares in DAP, NPK, MOP, and crop protection chemicals.

• Q3 and 9M FY26 saw strong operational income and net profit growth, with EPS up 10% YoY in Q3 and 17% YoY in 9M; board approved unaudited results with no material misstatements.

• Crop protection chemicals, specialty nutrients, and biologicals delivered robust revenue and margin growth, with biologicals revenue up 58% YoY for 9M.

• Urea volumes were lower due to an unscheduled plant stoppage, but P&K fertilizers and new product launches supported results.

• Strategic partnership with TERI for sustainable agri-solutions and ongoing expansion in seeds, digital outreach, and social media engagement to strengthen farmer connect.

Financial highlights

• Q3 FY26 standalone revenue from operations grew 20% YoY to INR 5,898 crore; consolidated net profit at INR 586.39 crore; EPS at INR 14.64 (consolidated).

• 9M FY26 revenue up 27% YoY to INR 18,009 crore; net profit up 17% YoY to INR 17,840 Mn; EPS up 17% YoY to INR 44.53.

• EBITDA margin for Q3 FY26 was 13.92%; PAT margin 9.57% (standalone), 9.94% (consolidated); finance costs dropped sharply to INR 42 Mn for 9M FY26.

• Net cash and liquid investments stood at INR 800 crore; net debt to equity remains nil as of FY25.

• Received INR 3,880 crore subsidy in Q3 and INR 10,228 crore in 9M, with receivables at INR 2,346 crore as of Dec 31, 2025.

Outlook and guidance

• Healthy pipeline with 12 new CPC products and one specialty nutrient product for FY27; new biological products planned.

• TAN project EPC work 92% complete, on track for April 2026 completion; INR 11,836 Mn spent till Q3 FY26.

• Confident of achieving 75-80%+ utilization in TAN plant post-commissioning; vertical and horizontal expansions under consideration.

• Exploring overseas investments and re-engaged in active discussions.

• Incremental obligations due to new labour codes have been estimated and recognized, with ongoing monitoring for further regulatory impacts.