Shree Pushkar Q4 FY26 Earnings Call Transcript Released
Shree Pushkar reported FY26 revenue of ₹976.60 crores (up 21.1%) and PAT of ₹70.1 crores. Q4 FY26 revenue was ₹218.2 crores. The company has a planned capex of ₹512 crores. Due to raw material price volatility, new units (5 & 6) commencement is delayed, impacting FY27 revenue outlook to ₹1,250-₹1,300 crores. Solar capacity increased to 10.6 MW.
The delay in commissioning of new units and the revised revenue outlook for FY27 due to raw material price volatility will have a significant impact on future growth prospects. While current performance is positive, the forward-looking guidance is cautious, affecting investor sentiment and expectations.
The company reported growth in revenue and improved operational metrics for FY26. However, the outlook for FY27 is revised downwards due to raw material price volatility and delayed commissioning of new units, which introduces uncertainty. The sentiment is neutral as positive results are tempered by future challenges.
Shree Pushkar Chemicals & Fertilisers Limited has released the transcript of their Q4 and FY26 earnings conference call, which was held on Tuesday, May 19, 2026. The call featured insights from Chairman and Managing Director Mr. Punit Makharia and Chief Financial Officer Mr. Deepak Beriwala.
For the full year FY26, the company reported a revenue from operations of ₹976.60 crores, a 21.1% increase compared to FY25. The chemical segment grew by 25.2% and the fertiliser segment by 16.5%. EBITDA for the year stood at ₹99.5 crores (10.2% margin), and PAT was ₹70.1 crores (7.1% margin). Return on equity increased to 12.2%, and return on capital employed rose to 15.3%.
In Q4 FY26, revenue from operations was ₹218.2 crores. EBITDA was ₹22.1 crores (10.1% margin), and PAT was ₹12.9 crores (5.8% margin). The company noted that the quarter's performance was impacted by supply chain disruptions and raw material availability.
The company continued its investment in expansion and integration initiatives, with a total planned capital expenditure of ₹512 crores. As of March 31, 2026, ₹189 crores had been incurred. Investments are funded through internal accruals and preferential allotment.
Shree Pushkar also commissioned a 1.1 MW DC solar power plant in Haryana, bringing the total installed solar capacity to 10.6 MW DC. A 10 MW solar plant in Nanded, Maharashtra, is also on track.
Management discussed challenges related to volatile raw material prices, particularly ammonia and sulphur, which have significantly increased. This volatility has led to a decision to delay the commencement of trial production for Units 5 and 6 of the Ratnagiri plant to avoid unfavorable market conditions. The company anticipates that FY27 revenues might be around ₹1,250-₹1,300 crores, lower than the previously projected ₹1,500 crores, due to forgoing the Kharif season for these new units. Despite these challenges, the company maintained existing plant utilization at 65-70% and is confident in its financial position, with minimal leverage.
Regarding the chemicals segment, the company has seen increased selling prices for products like H Acid (from ₹525-₹530/kg to ₹750/kg) and Vinyl Sulphone (from ₹240/kg to ₹350/kg), indicating a positive price reflection despite raw material cost increases.
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See the model portfoliosA plain-language summary of a public exchange filing by Shree Pushkar Chemicals & Fertilisers Limited. Read the original for the full detail.