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CLSEL Q3 FY26 Call: Export Volumes Double to 34,578 MT Amid Basmati Price Surge
Chaman Lal Setia Exports reported a significant recovery in Q3 FY26, with export volumes in top markets jumping from 15,493 MT to 34,578 MT. The company benefited from strategic procurement in September, capturing a 4-20% rise in Basmati prices across varieties like 1509 and 1401 by December. Management highlighted improved competitiveness in the US market as tariffs reduced to 19% and noted a shift in global demand away from Pakistan. The company maintains a no-hedging policy on currency, successfully leveraging rupee depreciation to boost the bottom line.
Key Highlights
Export volumes for top 6 countries surged over 120% to 34,578 metric tons in Q3 FY26.
Basmati 1509 variety prices rose 15% from INR 6,400 to INR 7,300 per quintal between October and December.
The 1401 variety saw a sharp 21% price increase from INR 6,600 to INR 8,000 per quintal during the quarter.
US import tariffs on Indian rice have been lowered to 19%, providing a significant tailwind for American exports.
Management reported a 15-20% reduction in the overall Basmati crop size, which is supporting higher global realizations.
💼 Action for Investors
Investors should view the strong volume growth and timely inventory procurement as positive indicators for margin expansion in upcoming quarters. Monitor the sustainability of export demand and any further changes in international trade tariffs.
CLSEL Q3FY26 PAT Rises 24% YoY to ₹35.9 Cr; Export Volumes Surge to Record 48,965 MT
Chaman Lal Setia Exports (CLSEL) reported a robust Q3FY26 with PAT growing 24% YoY to ₹35.9 Cr, driven by a sharp recovery in export volumes. Revenue for the quarter stood at ₹431 Cr, up 9% YoY, as the company benefited from global stockpiling and price hikes of 10-20% in premium rice variants. EBITDA margins expanded to 11.85% from 9.99% YoY, reflecting strong operating leverage and better realizations. The company also highlighted a favorable reduction in US import tariffs from 25% to 18%, which is expected to boost competitiveness in the North American market.
Key Highlights
Q3FY26 Revenue grew 9% YoY to ₹431 Cr, while EBITDA rose 29.3% to ₹51.1 Cr.
Export volumes hit 48,965 MT in Q3, supported by strong demand from Egypt, Malaysia, and Dubai.
Realized price hikes of 10%-20% across premium Basmati categories including 1509 and 1718 variants.
US import tariffs reduced from 25% to 18%, providing a structural tailwind for future premium exports.
Maintains efficient working capital with a 188-day cycle and a conservative Net Debt/Equity of 0.1x.
💼 Action for Investors
Investors should view the strong volume recovery and margin expansion as a positive sign of operational turnaround. The company's lean balance sheet and efficient working capital cycle provide a safety margin for long-term holders.
CLSEL Q3 PAT Rises 24% YoY to ₹35.94 Cr; Revenue Up 9% to ₹431 Cr
Chaman Lal Setia Exports Limited (CLSEL) reported a strong quarterly performance for Q3 FY26, with revenue from operations growing 9% YoY to ₹430.99 crore. Net profit for the quarter saw a robust increase of 23.9% YoY, reaching ₹35.94 crore compared to ₹29.01 crore in the same period last year. On a sequential basis (QoQ), the company showed massive growth, with revenue jumping 57.9% and PAT nearly doubling from ₹18.93 crore. While the nine-month revenue is still down 10.3% YoY, the latest quarter indicates a significant recovery in business momentum.
Key Highlights
Revenue from operations for Q3 FY26 stood at ₹430.99 crore, up 9% YoY and 57.9% QoQ.
Net Profit (PAT) increased 23.9% YoY to ₹35.94 crore, with margins improving significantly on a sequential basis.
Earnings Per Share (EPS) for the quarter rose to ₹7.24 from ₹5.83 in the year-ago period.
9M FY26 revenue reached ₹1,011.21 crore, reflecting a 10.3% decline compared to ₹1,127.57 crore in 9M FY25.
Total expenses for the quarter were managed at ₹383.28 crore, with a notable change in inventory levels reflecting seasonal processing.
💼 Action for Investors
The strong quarterly recovery and sequential growth suggest a turnaround in export demand and better margin management. Investors should maintain a positive outlook but monitor if this momentum sustains in Q4 to bridge the gap in year-to-date performance.