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Latest filing: 2026-07-24 17:04
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Rama Phosphates Q1 Revenue Hits Record ₹224.8 Cr; Dhule Plant Trials Set for Q2 FY27
Rama Phosphates reported its highest-ever Q1 revenue of ₹224.80 Cr, an 18% increase YoY, primarily led by the fertilizer segment. PAT grew 6% to ₹17.06 Cr, despite a 15-20% surge in raw material costs caused by the West Asia conflict. The company is on track with its expansion, with trial production at the Dhule SSP plant scheduled for Q2 FY27. Management has also raised its long-term vision to achieve a ₹2,000+ Cr turnover, up from the previous ₹1,500 Cr target.
Confidence: HIGH
What changedThe company reported record-breaking Q1 financial results and provided a specific timeline for the Dhule plant trials while upgrading its long-term revenue guidance to ₹2,000+ Cr.
Why it mattersThe 18% revenue growth demonstrates strong market demand for SSP and value-added fertilizers, while the upcoming capacity at Dhule and Udaipur provides a clear path for volume-led growth.
Q1 FY27 Revenue: ₹224.80 CrQ1 FY27 PAT: ₹17.06 CrRevenue Growth (YoY): 18%Raw Material Cost Increase: 15-20%Total Production Capacity: 9,79,000 MTVision Turnover Target: ₹2,000+ Cr
📅 Short termThe stock may react positively to the record Q1 revenue and the concrete timeline for the Dhule plant commissioning.
📈 Long termThe company is structurally expanding its capacity and diversifying into complex P&K fertilizers, which could significantly re-rate the business if the ₹2,000 Cr turnover target is met.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Raw material price volatility (15-20% increase)
- Geopolitical risks affecting supply chains
- Heavy reliance on government fertilizer subsidies
Key Highlights
Highest-ever Q1 turnover of ₹224.80 Cr, representing an 18% YoY growth from ₹190.31 Cr.
PAT increased 6% YoY to ₹17.06 Cr, the second-highest Q1 profit in the company's history.
Raw material prices for key inputs increased by 15-20% due to geopolitical tensions in West Asia.
Dhule SSP plant Phase 1 trial production is scheduled for Q2 FY27.
Total production capacity stands at 9,79,000 MT, including proposed expansions at Udaipur and Dhule.
👀 What to Watch
Watch for the successful commissioning and ramp-up of the Dhule plant in Q2 FY27, as this will be a key driver for the company's ₹2,000 Cr revenue target. Additionally, monitor how the company manages margin pressure if raw material volatility persists.
₹17.06 Cr Q1 Profit; Dhule Greenfield Phase-I Trial Production Scheduled for Sept 2026
Rama Phosphates (RAMAPHO) reported an 18.1% YoY revenue growth to ₹224.80 Cr for Q1 FY27, driven by its core fertilizer segment. Net profit increased 6.4% YoY to ₹17.06 Cr, while the Soya/Agri segment saw a sharp revenue contraction to ₹3.57 Cr from ₹13.91 Cr. The company provided a critical update on its Dhule Greenfield project (216,000 MTPA SSP), with trial production expected by the end of September 2026. Furthermore, a 65,000 MTPA expansion at Udaipur will take the total company-wide SSP capacity to 979,000 MTPA.
Confidence: HIGH
What changedThe company has moved from planning to the final execution stage of its Dhule Greenfield project and confirmed a significant total capacity target of nearly 1 million MTPA for SSP.
Why it mattersThe capacity expansion is a major step toward the company's stated goal of becoming a ₹1,500 Cr turnover entity, significantly increasing its scale in the P&K fertilizer segment.
Q1 Revenue: ₹224.80 CrQ1 Net Profit: ₹17.06 CrDhule SSP Capacity: 216,000 MTPATotal Target SSP Capacity: 979,000 MTPAQ1 Revenue vs TTM Revenue: 25.2%
📅 Short termThe stock may react positively to the profit growth and the concrete timeline for the Dhule plant commissioning in the current quarter.
📈 Long termThe structural shift toward a larger capacity base and diversification into value-added products like PROM and PDM could re-rate the business if execution remains on track.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Heavy reliance on government subsidies for SSP operations
- Volatility in raw material prices (Rock Phosphate and Sulphur)
- Significant revenue decline in the Soya/Agri segment
Key Highlights
Revenue from operations grew 18.1% YoY to ₹224.80 Cr, representing ~25% of TTM revenue.
Net profit for the quarter rose to ₹17.06 Cr from ₹16.03 Cr in the year-ago period.
Dhule Greenfield project for 216,000 MTPA SSP is in the final stage with trial production due by Sept 2026.
Total SSP capacity to reach 979,000 MTPA following a 65,000 MTPA expansion at the Udaipur unit.
Fertilizer segment EBIT improved to ₹28.67 Cr, while Soya segment reported a small loss of ₹0.28 Cr.
👀 What to Watch
Investors should track the successful commencement of trial production at the Dhule plant by September 2026 and monitor the ramp-up of the new PDM/PROM plants at Udaipur.
6.4% PAT growth in Q1; Dhule 2.16L MTPA expansion trial production by Sept 2026
Rama Phosphates reported a steady Q1 FY27 with revenue rising 18.1% YoY to ₹224.80 Cr and net profit increasing 6.4% to ₹17.06 Cr. The core Fertilizer segment remains the primary driver, contributing ₹221.23 Cr to revenue, while the Soya/Agri segment faced a marginal loss. Management provided a critical update on the Dhule greenfield project (216,000 MTPA SSP), confirming trial production is expected by the end of September 2026. Total SSP capacity is set to reach 979,000 MTPA following a 65,000 MTPA expansion at the Udaipur unit.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and provided concrete timelines for its major greenfield expansion at Dhule and brownfield expansion at Udaipur.
Why it mattersThe Dhule expansion adds approximately 22% to the company's total SSP capacity, which is essential for scaling revenue and diversifying into value-added products like PDM and PROM.
Q1 Revenue: ₹224.80 CrQ1 Net Profit: ₹17.06 CrDhule SSP Capacity: 216,000 MTPATotal SSP Capacity (Post-expansion): 979,000 MTPARevenue Growth (YoY): 18.1%
📅 Short termThe stock may see positive sentiment due to the earnings growth and the clear execution timeline for the Dhule project within the current quarter.
📈 Long termStructural growth is supported by a significant capacity increase and a shift toward high-margin organic and bio-fertilizers, reducing reliance on traditional SSP.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Heavy reliance on government subsidies for SSP operations
- Volatility in raw material prices (Rock Phosphate and Sulphur)
- Execution risk for the final stages of the Dhule project
Key Highlights
Revenue from operations increased 18.1% YoY to ₹224.80 Cr in Q1 FY27.
Net profit grew to ₹17.06 Cr compared to ₹16.03 Cr in the same quarter last year.
Dhule greenfield project (216,000 MTPA SSP) is in the final stage with trial production slated for Sept 2026.
Overall SSP capacity to expand to 979,000 MTPA after adding 65,000 MTPA at the Udaipur unit.
Fertilizer segment EBIT improved to ₹28.67 Cr from ₹27.54 Cr YoY.
👀 What to Watch
Monitor the successful commencement of trial production at the Dhule plant by September 2026 and the subsequent ramp-up in capacity utilization to meet the ₹1,500 Cr turnover target.
Rama Phosphates Proposes ₹0.25 Final Dividend; 41st AGM Set for August 13, 2026
Rama Phosphates Limited has issued a notice for its 41st Annual General Meeting (AGM) scheduled for August 13, 2026. Key agenda items include the declaration of a final dividend of ₹0.25 per equity share (5% of face value) for FY26 and the appointment of M/s Dayal & Lohia as Statutory Auditors for a five-year term. The company, which reported a TTM revenue of ₹893 Cr, is also seeking to ratify the remuneration for its cost auditors for FY27. This meeting will be conducted virtually, following standard regulatory procedures for annual shareholder approvals.
Confidence: HIGH
What changedThe company has formalized the date for its annual shareholder meeting and specified the final dividend amount for the previous financial year.
Why it mattersThis is a routine but essential governance event that confirms shareholder payouts and establishes the auditing oversight for the next five years.
Final Dividend: ₹0.25 per shareDividend as % of Face Value: 5%Statutory Auditor Term: 5 yearsCost Auditor Remuneration (FY27): ₹1,90,000TTM Revenue: ₹893 Cr
📅 Short termThe stock may see minor activity around the dividend record date (once announced), but the AGM notice itself is a routine administrative event.
📈 Long termLimited structural impact; the appointment of auditors for a 5-year term provides continuity in financial reporting and compliance.
⚠ Risk flags
- Subsidy reliance for SSP operations
- Volatility in raw material prices (Rock Phosphate and Sulphur)
Key Highlights
Proposed final dividend of ₹0.25 per equity share of face value ₹5 for FY26
Appointment of M/s Dayal & Lohia as Statutory Auditors for a 5-year term until 2031
Cost Auditor remuneration for FY27 proposed at ₹1,90,000 plus applicable taxes
AGM scheduled for August 13, 2026, at 3:00 p.m. via Video Conferencing
Director Mrs. Nilanjana Ramsinghani attended 100% (4 out of 4) board meetings in FY26
👀 What to Watch
Investors should track the AGM for management's outlook on achieving their ₹1,500 Cr turnover target and updates on the HURL contract execution.
Rama Phosphates FY26 Revenue Hits Record ₹893 Cr; PBT Surges 175% to ₹70 Cr
Rama Phosphates Limited reported a stellar financial performance for FY26, achieving its highest-ever revenue of ₹89,304 Lacs, a 20% increase over the previous year. Profitability saw a massive jump with PBT rising 175% to ₹7,031 Lacs and PAT surging 285% YoY. While the Fertilizer division remains the primary driver with 15% growth, the Chemical division's revenue doubled to ₹20,300 Lacs. Despite strong financials, the company noted a delay in the trial production of its Dhule project, now expected in Q2 FY27.
Key Highlights
FY26 Revenue reached an all-time high of ₹89,304 Lacs, representing 20% YoY growth.
PBT and PAT surged by 175% and 285% respectively, with EPS growing by 286%.
Chemical division revenue doubled to ₹20,300 Lacs due to higher realizations and market buoyancy.
Soya segment achieved an operational turnaround, posting a PBDIT profit of ₹260 Lacs vs a loss of ₹137 Lacs in FY25.
Dhule project trial production rescheduled to Q2 FY27 due to redesigning and unfavorable weather.
👀 What to Watch
Investors should take note of the significant margin expansion and the successful turnaround of the soya segment. The delay in the Dhule project is a minor setback, but the overall growth trajectory and minimal debt profile remain strong.
Rama Phosphates Sets July 31, 2026 as Record Date for ₹0.25 Final Dividend
Rama Phosphates has announced a final dividend of ₹0.25 per equity share for FY 2025-26. This follows an interim dividend of ₹0.50 per share paid in November 2025, bringing the total annual dividend to ₹0.75. The company has fixed July 31, 2026, as the record date for determining shareholder eligibility. Payment is expected to be processed on or after September 3, 2026, following AGM approval.
Key Highlights
Final dividend of ₹0.25 per share recommended for FY 2025-26
Total dividend for the fiscal year reaches ₹0.75 per share (15% of face value)
Record date for final dividend eligibility is July 31, 2026
Payment scheduled to begin on or after September 3, 2026
👀 What to Watch
To be eligible for the ₹0.25 dividend, ensure shares are in your demat account by the July 31 record date. Monitor the upcoming AGM for formal approval of the payout.
Rama Phosphates Recommends Final Dividend of ₹0.25; Total FY26 Dividend at ₹0.75 Per Share
Rama Phosphates Limited has recommended a final dividend of ₹0.25 per equity share (5% of face value) for the financial year 2025-26. This is in addition to an interim dividend of ₹0.50 per share already paid in November 2025, bringing the total annual payout to ₹0.75 per share. The company has fixed July 31, 2026, as the record date for determining shareholder eligibility. The final dividend payment is subject to shareholder approval at the upcoming Annual General Meeting and is expected to be paid starting September 3, 2026.
Key Highlights
Final dividend of ₹0.25 per equity share recommended (5% of ₹5 face value)
Total dividend for FY 2025-26 reaches ₹0.75 per share including ₹0.50 interim dividend
Record date for final dividend eligibility set for July 31, 2026
Payment of final dividend to commence on or after September 3, 2026
Total annual dividend payout represents 15% of the face value per share
👀 What to Watch
Investors interested in the dividend should ensure they hold the shares before the record date of July 31, 2026. The total payout of ₹0.75 for the year reflects a steady return for income-focused shareholders.
Rama Phosphates FY26 Net Profit Surges 285% to ₹52.7 Cr; Total Dividend of ₹0.75 Declared
Rama Phosphates reported a massive 285% YoY jump in annual net profit to ₹5,270.89 lacs for FY26, driven by strong performance in the fertilizer segment. While Q4 FY26 revenue grew 9% YoY to ₹21,907.50 lacs, quarterly PBT faced pressure from higher material costs. The company is significantly expanding its footprint with a new greenfield project in Dhule and capacity expansion in Udaipur. A final dividend of ₹0.25 has been recommended, taking the total FY26 dividend to ₹0.75 per share.
Key Highlights
Annual Net Profit surged 285% YoY to ₹5,270.89 lacs in FY26 compared to ₹1,367.50 lacs in FY25.
Full-year Revenue from Operations increased by 20% to ₹89,304.34 lacs.
Total dividend for the year stands at ₹0.75 per share (15% on face value of ₹5).
Dhule Greenfield project for 216,000 MTPA SSP is in final stages with trial production expected in Q2 FY2027.
Udaipur unit expansion will increase the company's total SSP capacity to 9,64,000 MTPA.
👀 What to Watch
Investors should view the strong annual earnings growth and aggressive capacity expansion as positive long-term drivers. Monitor the timely commissioning of the Dhule plant in FY27 as it will be the next major revenue catalyst.
Rama Phosphates FY26 Net Profit Jumps 285% to ₹52.7 Cr; Final Dividend Recommended
Rama Phosphates reported a stellar performance for FY26, with annual net profit surging to ₹5,270.89 lakhs from ₹1,367.50 lakhs in the previous year. Total income for the year grew by 20% to ₹89,442.48 lakhs, driven primarily by the Fertilizers and Chemicals segment. The company recommended a final dividend of ₹0.25 per share, bringing the total FY26 dividend to ₹0.75, notably with promoters waiving their dividend rights. Significant capacity expansions are underway at Dhule and Udaipur, which are expected to boost total SSP production capacity to 9,64,000 MTPA.
Key Highlights
FY26 Net Profit increased by 285% YoY to ₹5,270.89 lakhs compared to ₹1,367.50 lakhs in FY25.
Total annual income rose to ₹89,442.48 lakhs, a 20% increase over the previous financial year.
Promoters holding over 2.65 crore shares waived their dividend rights for FY26, conserving company cash.
Greenfield project at Dhule (2.16 lakh MTPA SSP) is in final stages with trial production slated for Q2 FY27.
Total SSP capacity to reach 9.64 lakh MTPA following expansions at Udaipur and Dhule units.
👀 What to Watch
Investors should note the massive jump in annual profitability and the promoter's decision to waive dividends as strong signs of management confidence. The upcoming capacity additions provide a clear growth runway for FY27.
Rama Phosphates Credit Rating Reaffirmed at ICRA A-; Rated Amount Increased to Rs 168 Crore
ICRA has reaffirmed the credit ratings for Rama Phosphates Limited, maintaining the long-term rating at 'ICRA A-' and the short-term rating at 'ICRA A2+'. Crucially, these ratings continue to be placed on 'rating watch with negative implications,' indicating potential downward pressure in the near future. The total rated bank facilities have been enhanced from Rs 136 crore to Rs 168 crore. This increase includes a rise in fund-based limits to Rs 100 crore and non-fund-based limits to Rs 60 crore.
Key Highlights
Long-term rating for fund-based limits maintained at ICRA A- with negative implications watch.
Short-term rating for non-fund-based limits maintained at ICRA A2+ with negative implications watch.
Total rated bank facilities increased by 23.5% from Rs 136 crore to Rs 168 crore.
Fund-based limits enhanced from Rs 80 crore to Rs 100 crore to support working capital.
Non-fund based limits increased from Rs 48 crore to Rs 60 crore.
👀 What to Watch
Investors should exercise caution as the 'negative implications' watch suggests a risk of a future downgrade. Monitor the company's upcoming quarterly earnings and debt-to-equity levels to assess if financial health is deteriorating.
Rama Phosphates Re-appoints Ratneshwar Prasad as Independent Director for 5-Year Term
Rama Phosphates has secured shareholder approval for the re-appointment of Mr. Ratneshwar Prasad as an Independent Director for a second five-year term. The term is set to run from May 30, 2026, through May 29, 2031. Mr. Prasad's background includes serving as the Chairman of the Central Board of Direct Taxes (CBDT) and a founding member of the Competition Commission of India (CCI). This move ensures the continuation of high-level regulatory and taxation expertise on the company's board.
Key Highlights
Re-appointment for a second term of 5 consecutive years starting May 30, 2026.
Mr. Prasad brings 38 years of experience in taxation, law, and international taxation.
He previously served as the Chairman of the Central Board of Direct Taxes (CBDT).
Shareholder approval was finalized via Postal Ballot on April 2, 2026.
👀 What to Watch
The re-appointment of a highly experienced former regulator strengthens the board's oversight and governance capabilities. Investors should view this as a positive sign of stability in the company's leadership structure.
Rama Phosphates Credit Rating Placed on Watch with Negative Implications for Rs 136 Cr Facilities
ICRA has placed Rama Phosphates Limited's credit ratings for its Rs 136.00 crore bank facilities on 'Rating Watch with Negative Implications'. While the long-term rating of ICRA A- and short-term rating of ICRA A2+ were reaffirmed, the shift from a 'Stable' outlook indicates potential downward pressure on the company's credit profile. This move typically precedes a potential downgrade if specific financial or operational concerns are not addressed. Investors should note that the watch covers fund-based, non-fund based, and term loan facilities.
Key Highlights
Total bank facilities of Rs 136.00 crore placed on Rating Watch with Negative Implications by ICRA.
Long-term fund-based limits of Rs 80.00 crore reaffirmed at ICRA A- but outlook moved from Stable to Negative Watch.
Short-term non-fund based limits of Rs 48.00 crore placed on Negative Watch while maintaining ICRA A2+ rating.
Long-term term loans amounting to Rs 8.00 crore also moved to Watch with Negative Implications.
The transition from a 'Stable' outlook suggests heightened credit risk or deteriorating financial metrics.
👀 What to Watch
Investors should remain cautious as a negative watch often signals a potential downgrade in the near term, which could increase the company's cost of debt. It is advisable to monitor the company's upcoming quarterly earnings and debt-servicing capability closely.
Rama Phosphates Q3 FY26 PAT Surges 283% YoY to ₹14.03 Cr; Revenue Up 33%
Rama Phosphates reported a stellar performance for Q3 FY26, with PAT growing 283% YoY to ₹14.03 crore and revenue increasing 33% to ₹238 crore. The 9M FY26 PAT showed an even more dramatic rise of 462% YoY, reaching ₹47.34 crore, driven by strong operational efficiency and new product launches. The company successfully renewed its SSP contract with HURL for approximately 1 lakh MT, ensuring revenue stability. Additionally, the Dhule expansion project is on track, with trial production expected to commence by the end of Q4 FY26.
Key Highlights
Q3 FY26 Revenue grew 33% YoY to ₹23,800 Lacs, while EBITDA jumped 134% to ₹2,414 Lacs.
Net Profit (PAT) for the quarter skyrocketed by 283% YoY to ₹1,403 Lacs with EPS rising to ₹3.96.
9M FY26 performance remains robust with PAT up 462% YoY at ₹4,734 Lacs compared to ₹842 Lacs in 9M FY25.
Dhule Phase 1 expansion is on track with trial production of SSP slated for Q4 FY26; Phase 2 construction to begin in April 2026.
ICRA reaffirmed the 'A-' credit rating and upgraded the outlook to 'Stable' from 'Negative' reflecting improved financial health.
👀 What to Watch
The company is demonstrating strong operational leverage and successful capacity utilization across its diversified portfolio. Investors should maintain a positive outlook given the upcoming capacity addition at Dhule and the stable revenue visibility from the HURL contract.
Rama Phosphates Q3 Net Profit Surges 283% YoY to ₹14.03 Cr; Revenue Up 32%
Rama Phosphates reported a robust performance for Q3 FY2026, with net profit jumping to ₹14.03 crore from ₹3.66 crore in the previous year's corresponding quarter. Revenue from operations grew 32.5% YoY to ₹237.99 crore, driven largely by the Fertilizer and Chemicals segment. The company's 9-month profit of ₹47.34 crore has already vastly exceeded the full-year FY2025 profit of ₹13.67 crore. Furthermore, the company is progressing with its Dhule greenfield project, with trial production expected in Q4 FY2026.
Key Highlights
Net Profit for Q3 FY26 increased by 283% YoY to ₹14.03 crore.
Revenue from operations rose 32.5% YoY to ₹237.99 crore compared to ₹179.62 crore in Q3 FY25.
9-month FY26 Net Profit reached ₹47.34 crore, a significant jump from ₹8.42 crore in 9M FY25.
Fertilizer segment revenue stood at ₹218.04 crore for the quarter with a segment result of ₹23.54 crore.
Greenfield project at Dhule for 2,16,000 MT PA SSP Fertilizer is on track for trial production in Q4 FY26.
👀 What to Watch
The significant turnaround in profitability and the upcoming capacity expansion at Dhule are strong positive indicators for long-term growth. Investors should monitor the successful commissioning of the new plant as a key upcoming milestone.
Rama Phosphates Q3 Net Profit Surges 283% YoY to ₹14.03 Cr; Revenue Up 32.5%
Rama Phosphates Limited reported a stellar year-on-year performance for the quarter ended December 31, 2025, with net profit jumping 283.2% to ₹1,402.56 lacs. Revenue from operations grew by 32.5% YoY to ₹23,799.76 lacs, primarily led by the Fertilizer and Chemicals segment. While sequential (QoQ) performance saw a slight decline in revenue and profit, the nine-month (9M) profit of ₹4,734.22 lacs is significantly higher than the ₹842.27 lacs recorded in the previous year. The company is also on track with its Dhule greenfield expansion, with trial production expected in Q4 FY26.
Key Highlights
Net Profit for Q3 FY26 rose to ₹1,402.56 lacs from ₹366.01 lacs in Q3 FY25, a growth of 283.2%.
Revenue from operations increased 32.5% YoY to ₹23,799.76 lacs compared to ₹17,961.84 lacs in the same period last year.
The Soya/Agri segment turned profitable at the segment result level, posting ₹77.99 lacs versus a loss of ₹85.32 lacs YoY.
Trial production for the new Greenfield project at Dhule (216,000 MT PA SSP Fertilizer) is scheduled for Q4 FY26.
Basic and Diluted EPS for the quarter stood at ₹3.96, up from ₹1.03 in the corresponding quarter of the previous year.
👀 What to Watch
Investors should view the massive YoY profit growth and the turnaround in the Soya segment as strong positive indicators. The upcoming commissioning of the Dhule plant in Q4 FY26 serves as a key catalyst for volume growth in the next fiscal year.
Rama Phosphates Credit Rating Outlook Upgraded to Stable; Long-Term Rating Reaffirmed at ICRA A-
ICRA has reaffirmed Rama Phosphates Limited's long-term credit rating at 'ICRA A-' and significantly upgraded the outlook from 'Negative' to 'Stable'. The short-term rating for non-fund based limits has been maintained at 'ICRA A2+'. This rating action covers total bank facilities amounting to Rs 136.00 crore. The revision to a stable outlook indicates improved confidence in the company's credit profile and its ability to manage financial obligations compared to the previous assessment period.
Key Highlights
Long-term rating for Rs 80 crore fund-based limits reaffirmed at ICRA A- with outlook revised from Negative to Stable.
Short-term rating for Rs 48 crore non-fund based limits reaffirmed at ICRA A2+.
Long-term rating for Rs 8 crore term loan reaffirmed at ICRA A- with outlook revised to Stable.
Total bank facilities rated by ICRA amount to Rs 136.00 crore.
The outlook revision suggests a stabilization in the company's operational and financial risk profile.
👀 What to Watch
The shift from a negative to a stable outlook is a positive signal regarding the company's debt-servicing capabilities and financial health. Investors should monitor if this leads to lower borrowing costs in future financial statements.
