MBAPL Reports Strong Q2 FY26 Growth, Announces Major Capacity Expansions and Green Ammonia Initiative
MBAPL reported strong Q2 FY26 financial growth, driven by record production and sales. The company is on track with major capacity expansions in Dhule and Sagar and secured a Green Ammonia supply contract.
The announcement details substantial financial growth, indicating strong current performance. More importantly, it outlines major capacity expansion projects that will significantly increase future production capabilities and a strategic long-term Green Ammonia supply, which will enhance raw material security and align with sustainability goals. These initiatives are expected to have a high positive impact on the company's long-term growth and market position.
The company reported significant year-on-year growth in revenue, EBITDA, and PAT for both Q2 and H1 FY26. Operational highlights include record production and sales volumes. Additionally, the company is progressing with major capacity expansion projects and has secured a long-term Green Ammonia supply contract, demonstrating a strong outlook and commitment to sustainability.
Madhya Bharat Agro Products Limited (MBAPL) has released the transcript of its Q2 and H1 FY26 Earnings Conference Call, held on October 09, 2025. Key highlights from the call include: * Financial Performance (Q2 FY26 vs. Q2 FY25): * Revenue increased by 62% year-on-year (Y-o-Y) to ₹450 crore. * EBITDA rose by 70% Y-o-Y to ₹62 crore. * PAT surged by 120% Y-o-Y to ₹31 crore. * Quarterly EPS improved to ₹3.48 from ₹1.58. * Financial Performance (H1 FY26 vs. H1 FY25): * Revenue grew by 80% Y-o-Y to ₹860 crore. * EBITDA increased by 70% Y-o-Y to ₹119 crore. * PAT soared by 132% Y-o-Y to ₹59 crore. * Half-yearly EPS more than doubled to ₹6.7 from ₹2.9. * Operational Highlights: * Achieved highest-ever quarterly fertilizer production of 1,18,541 MT and half-yearly production of 2,24,517 MT. * Highest quarterly sales volume of 1,35,187 MT and half-yearly sales volume of 2,34,705 MT. * SSP sales reached a quarterly high of 78,555 MT and NPK sales hit a quarterly peak at 56,632 MT. * Backward integration operations showed optimal utilization, with BRP quarterly crushing at 96% capacity and Sulphuric acid quarterly production at 90% capacity utilization. * Ongoing Expansion Projects: * Dhule (Maharashtra): The fully integrated DAP/NPK and SSP plant is on schedule for commissioning by October 2026. It will have capacities of 3,30,000 MTPA for DAP/NPK, 99,000 MTPA for phosphoric acid, 1,98,000 MTPA for sulphuric acid, and 3,30,000 MTPA for SSP. Funding of ₹202 crore has been sanctioned, with ₹75 crore disbursed. * Sagar (Madhya Pradesh): DAP/NPK and sulphuric acid capacity expansion is progressing well, expected to be commissioned by March 2026. This project includes 90,000 MTPA of DAP/NPK and 1,65,000 MTPA of sulphuric acid. Term loans of ₹73 crore have been sanctioned. * Green India Initiative: In August 2025, MBAPL was selected as a preferred buyer of Green Ammonia under SECI's SIGHT Scheme, securing a supply of 1,30,000 metric tons per annum over 10 years. * Management Outlook: The company expects similar strong performance in H2 FY26 and anticipates significant growth in coming years due to increased capacity, projecting total capacity to exceed 1.2 million tons (12 lakh tons) of fertilizer by September 2026. The total CAPEX for FY26 is expected to be around ₹400 crore, with total project costs for Sagar and Dhule around ₹700 crore, funded by debt and internal accruals. The company is also examining a merger proposal for its businesses.
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Madhya Bharat Agro Products Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Madhya Bharat Agro Products Limited. Read the original for the full detail.