Gujarat State Fertilizers & Chemicals (500690) Q2 24/25 earnings summary

Executive summary

• Q2 total revenue rose to ₹3,212 crore from ₹2,775 crore, while revenue from operations declined on standalone and consolidated bases; standalone net profit rose and consolidated net profit fell.

• H1 total revenue rose to ₹5,292 crore from ₹4,968 crore; standalone net profit edged up, while consolidated net profit declined.

• Standalone and consolidated results received unmodified statutory auditor review conclusions.

Financial highlights

• Q2 operating revenue was ₹1,775 crore vs ₹1,556 crore YoY; subsidy income was ₹1,242 crore vs ₹1,067 crore.

• Standalone revenue from operations was Rs 2,62,290 lakh vs Rs 3,01,737 lakh in Q2 and Rs 4,76,685 lakh vs Rs 5,04,890 lakh in H1.

• Consolidated revenue from operations was Rs 2,63,517 lakh vs Rs 3,11,872 lakh in Q2 and Rs 4,79,770 lakh vs Rs 5,18,164 lakh in H1.

• Standalone net profit was Rs 30,267 lakh vs Rs 28,483 lakh in Q2 and Rs 39,531 lakh vs Rs 39,108 lakh in H1; consolidated net profit was Rs 29,823 lakh vs Rs 30,891 lakh and Rs 38,555 lakh vs Rs 42,137 lakh, respectively.

• Operating EBITDA, excluding other income, was ₹215 crore vs ₹289 crore in Q2 and ₹353 crore vs ₹407 crore in H1.

Segment performance

• Fertilizer production was 454,565 MT vs 430,745 MT YoY; gross sales were 523,420 MT vs 456,756 MT.

• Major industrial products production was 41,843 MT vs 40,882 MT YoY; gross sales were 31,262 MT vs 40,100 MT.

• Standalone Q2 fertilizer revenue was Rs 2,07,705 lakh vs Rs 2,40,381 lakh, with segment result of Rs 25,681 lakh vs Rs 22,434 lakh; industrial products revenue was Rs 54,585 lakh vs Rs 61,356 lakh, with losses of Rs 1,645 lakh vs Rs 3,461 lakh.

• Consolidated Q2 fertilizer revenue was Rs 2,08,932 lakh vs Rs 2,50,516 lakh, with segment result of Rs 25,252 lakh vs Rs 24,885 lakh; industrial products revenue and segment loss matched standalone figures.