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The Quarter story
The two most recent quarterly results, compared side-by-side.
Operating margins recover and cost control improves, but rising interest expenses and seasonal demand dips in key fertilizer lines pressure net profits.
EBITDA margin recovered from 10.6% in Q3 FY26 to 16.7% in Q1 FY27, showing restored pricing power.
Finance costs surged from ₹6.9 Cr in Q2 FY26 to ₹20.8 Cr in Q1 FY27, weighing heavily on net profits.
SSP utilization rose from 92% in Q1 FY26 to 121% in Q1 FY27, confirming strong demand for single super phosphate.
NPK/DAP utilization fell from 81% in Q1 FY26 to 43% in Q1 FY27, signaling sharp seasonal demand weakness.
BRP crushing utilization rebounded from 64% in Q3 FY26 to 104% in Q1 FY27, indicating full capacity recovery.
Basic EPS dropped from ₹13.4 in Q4 FY26 to ₹1.52 in Q1 FY27, reflecting profit compression in the latest quarter.
Other expenses fell from ₹95.8 Cr in Q4 FY26 to ₹72.4 Cr in Q1 FY27, reflecting tighter operational control.
Inventory changes swung from ₹43.9 Cr in Q2 FY26 to -₹170.3 Cr in Q1 FY27, showing aggressive stock drawdown.
EBITDA grew from ₹65.6 Cr in Q1 FY26 to ₹88.9 Cr in Q1 FY27, maintaining steady operating cash generation.
Phosphoric acid utilization declined from 66% in Q1 FY26 to 52% in Q1 FY27, indicating reduced downstream demand.