Gujarat State Fertilizers & Chemicals (500690) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 standalone revenue was ₹2,171.65 crore and net profit ₹140.03 crore; consolidated revenue was ₹2,184.41 crore and net profit ₹138.60 crore, all higher YoY.

• Board approved unaudited standalone and consolidated results for the quarter ended June 30, 2025; statutory auditors completed a limited review.

Financial highlights

• Standalone revenue from operations was ₹2,171.65 crore vs ₹2,143.95 crore YoY; PBT was ₹185.59 crore vs ₹118.06 crore, and net profit was ₹140.03 crore vs ₹92.64 crore.

• Consolidated revenue from operations was ₹2,184.41 crore vs ₹2,162.53 crore YoY; PBT was ₹184.49 crore vs ₹112.60 crore, and net profit was ₹138.60 crore vs ₹87.32 crore.

• Operating EBITDA, excluding other income, was ₹201 crore vs ₹117 crore YoY and ₹73 crore QoQ.

• Other income was ₹40 crore vs ₹49 crore YoY and ₹56 crore QoQ.

Outlook and guidance

• Sulphuric Acid V project, with 198 KTPA capacity, is scheduled for FY26 Q2; the Sikka PA and SA project, with 198 KTPA PA and 594 KTPA SA capacity, is scheduled across FY26 Q3–Q4 and FY27–FY28.