Shree Pushkar Chemicals & Fertilisers delivered robust financial performance in Q1 FY27, with revenue from operations growing 10% to ₹280.1 crore compared to ₹254.5 crore in the corresponding quarter of the previous fiscal year. Despite a 17% decline in sales volumes to 75,640 metric tonnes from 91,125 metric tonnes in Q1FY26, improved realizations drove the top-line growth. The company's EBITDA stood at ₹319 million, representing a 9.7% increase from ₹291 million in the prior year period, with EBITDA margins remaining stable at 11.4% compared to 11.4% in Q1FY26. As reported by The Economic Times, this performance demonstrates the company's ability to maintain operational efficiency despite challenging volume conditions.
The company's consolidated net profit increased 9.4% to ₹229 crore in Q1 FY27 from ₹210 crore in the corresponding period of the previous fiscal year. On a quarter-on-quarter basis, net profit surged 78.2% from ₹129 crore in Q4FY26. Earnings before interest and taxes (EBIT) rose 12.9% to ₹30.5 crore, while profit before tax (PBT) increased 7.8% to ₹27.8 crore. However, the revenue growth outpaced the increase in net profit, indicating slight compression in bottom-line efficiency despite top-line expansion. The divergence between declining volumes and rising revenue suggests that price realizations or product mix shifts drove the top-line growth rather than volume expansion.
The chemical segment showed stronger performance with revenue growing 17.1% to ₹137.9 crore, while fertiliser revenue rose 4.0% to ₹142.2 crore. Fertilisers contributed 51% and chemicals 49% to total sales value. The chemical segment saw a sharper volume drop of 38.6% to 9,113 metric tonnes, while fertiliser volumes fell 12.8% to 66,527 metric tonnes. Despite the volume decline, improved realizations supported higher sales values across both segments. The company's gross profit margin contracted to 31.9% from 33.0% in Q1FY26 and 38.4% in Q4FY26, reflecting the impact of lower volumes on overall profitability.
Shree Pushkar has outlined a comprehensive growth strategy with total planned capex of ₹512 crore to expand capacity across fertiliser, chemical, and solar businesses. As of June 30, 2026, the company has incurred ₹209 crore towards these projects, with ₹303 crore outstanding. The expansion includes new fertiliser, chemical, and solar capacities, funded through internal accruals and preferential allotment. Additionally, the company acquired approximately 30,000 square metres of land adjacent to its existing Unit 1 at Lote Parshuram for ₹93.3 million to support future expansion plans. With a net debt-to-equity ratio of (0.01)x as of FY26, the company maintains a strong balance sheet to fund its expansion pipeline without significant leverage pressure.
