Paradeep Phosphates (PARADEEP) Q4 25/26 earnings summary

Executive summary

• Revenue from operations grew 29% year-over-year to INR 21,826 crore (Rs. 218,263 Mn) in FY 2026, with EBITDA up 33% to INR 2,259 crore (Rs. 22,594 Mn) and PAT up 52% to INR 1,000 crore (Rs. 10,008 Mn).

• Q4 revenue was INR 4,702 crore (Rs. 47,418 Mn), EBITDA INR 484 crore (Rs. 4,842 Mn), and PAT INR 161 crore (Rs. 1,611 Mn).

• Production volumes increased 8% year-over-year to 36.66 lakh metric tons, with nearly 100% capacity utilization.

• Expanded product basket with significant growth in TSP and value-added NPK fertilizers; NPK (including TSP) grew 22% to 24.64 lakh tons.

• Major merger with Mangalore Chemicals & Fertilizers Limited effective April 1, 2024, and acquisition of part of Zuari Agro Chemicals Limited's business.

Financial highlights

• FY26 total income: Rs. 219,729 Mn, up 28.4% YoY; Q4 FY26 total income: Rs. 47,418 Mn, up 11.5% YoY.

• EBITDA per ton for FY 2026 was INR 5,300; Q4 EBITDA per ton was INR 5,700.

• Standalone revenue for FY 2025-26 was Rs. 21,972.92 crore, up from Rs. 17,106.69 crore year-over-year.

• Standalone net profit for FY 2025-26 was Rs. 996.84 crore, compared to Rs. 662.85 crore last year.

• Basic EPS for FY26: 9.60, up 50.2% YoY.

Outlook and guidance

• Optimism for fertilizer demand continues, supported by government focus on soil health and balanced nutrients.

• Plans to double phosphoric acid capacity from 0.5 MMTPA to 1 MMTPA are on track, targeting 100% backward integration.

• Q1 FY 2027 raw material needs are covered; Q2 visibility is being worked on with government support.

• CapEx for FY 2027 is planned at INR 600 crore, with major projects in phosphoric acid and debottlenecking expected to complete.

• No specific revenue or EBITDA margin guidance for FY 2027 due to market volatility.