Shree Pushkar Chemicals & Fertilisers, a leading manufacturer of dyes, dye intermediates and fertilisers, has reported a solid set of audited consolidated results for Q4 and FY26, underpinned by growth in revenues, profitability and returns despite volatility.

 

For FY26, the company posted Revenue from Operations of Rs. 976.6 crore; an increase of 21.1% Y-o-Y, while EBITDA came in at Rs. 99.5 crore; an increase of 18.7% Y-o-Y. PAT stood at Rs. 70.1 crore; an increase of 19.6% Y-o-Y.

 

The company’s annual performance was supported by stronger realizations and higher volumes in the chemicals segment, even as quarterly numbers showed softness due to external pressures.

 

In Q4 FY26, Revenue from Operations was Rs. 218.2 crore, marginally lower by 0.6% Y-o-Y and down 12.3% Q-o-Q. EBITDA for the quarter stood at Rs. 22.1 crore; an increase of 18.7% Y-o-Y, while PAT came in at Rs. 12.9 crore, reflecting a decline of 22.2% Y-o-Y and 28.8% Q-o-Q amid supply chain disruptions.

 

Operationally, the chemicals division emerged as the key growth engine for the year. Chemicals revenue rose to Rs. 531.8 crore; an increase of 25.2% Y-o-Y, supported by strong volume expansion. Fertilisers also delivered stable growth with Revenue of Rs. 444.8 crore; an increase of 16.5% Y-o-Y.

 

On the volumes front, total consolidated sales reached 3,25,200 MT; an increase of 2.5% Y-o-Y. Chemicals volumes surged 27.9% Y-o-Y to 72,423 MT, while fertiliser volumes declined 3.0% Y-o-Y to 2,52,777 MT.

 

Profitability metrics remained healthy. Gross Margin stood at 36.8%, while EBITDA Margin was 10.4% for FY26. ROE improved to 12.2%, up from 11.6% in FY25, and ROCE strengthened to 15.3%, compared to 14.2% last year.

 

During the year, Shree Pushkar continued aggressive capital deployment, with Rs. 189 crore invested in ongoing expansion projects and manufacturing facilities. Funding was supported through internal accruals and preferential allotments.

 

A key milestone was the commissioning of a 1.1 MW DC Solar Power Plant at Hisar, Haryana in Q4 FY26, taking total installed solar capacity to 10.6 MWDC.

 

The company also confirmed steady progress on the expansion of Madhya Bharat Phosphate Private Limited at Meghnagar, Jhabua, Madhya Pradesh, where civil work is currently underway. 25% of preferential issue proceeds have been allocated to the Meghnagar Unit 8 project.

 

Execution challenges were acknowledged in certain expansion timelines, with delays at Ratnagiri Unit 5 and Unit 6 due to external headwinds, though overall project delivery remains on track.

 

Commenting on performance, Punit Makharia, Chairman and Managing Director, said: “Shree Pushkar concluded FY26 with a steady financial and operational performance across both the Chemical and Fertiliser segments. For FY26, Revenue from Operations was Rs. 976.6 Cr, registering a growth of 21.1% YoY. 

 

"The performance during the year was supported by improved realizations across both segments and higher volumes in the Chemical segment. EBITDA was Rs. 99.5 crore with a margin of 10.2%, while PAT was Rs. 70.1 crore with a margin of 7.1%. ROE improved to 12.2% in FY26 from 11.6% in FY25, while ROCE improved to 15.3% from 14.2%."

 

He added: "During Q4 FY26, the Company reported Revenue from Operations of Rs. 218.2 crore, impacted by ongoing global supply chain disruptions. EBITDA for the quarter was Rs. 22.1 crore with a margin of 10.1%, while PAT was Rs. 12.9 crore with a margin of 5.8%.

 

"During the year, the company continued to undertake capital expenditure towards expansion and integration initiatives across both segments. As of March 31, 2026, the company had incurred capital expenditure of Rs. 189 crore across its ongoing expansion projects and manufacturing facilities, funded through a combination of internal accruals and preferential allotment.

 

Regarding the ongoing expansion projects, the Company continues to make steady progress across its expansion and integration initiatives. 

 

"While the commissioning of Ratnagiri Unit 5 and Unit 6 has experienced some delay due to external headwinds, the overall project execution remains on track. Additionally, the company commissioned a 1.1 MW DC solar power plant during Q4 FY26, taking the total installed solar power capacity to 10.6 MWDC."