KRISHANA - Krishana Phosch.
π’ Recent Corporate Announcements
Krishana Phoschem Limited has clarified a regulatory filing omission, confirming that its FY26 financial results carry an unmodified audit opinion. The company reported stellar performance for the fiscal year ended March 31, 2026, with revenue growing 78% to βΉ2,418 crore. Net profit more than doubled to βΉ180.15 crore, up from βΉ86.54 crore in the previous year. The board has also recommended a final dividend of βΉ0.50 per share, reflecting strong cash flow and profitability.
- Revenue from operations increased by 78% YoY to βΉ2,418.00 crore in FY26.
- Net Profit (PAT) surged 108% YoY to βΉ180.15 crore compared to βΉ86.54 crore in FY25.
- Earnings Per Share (EPS) rose significantly to βΉ29.14 from βΉ14.00 in the previous fiscal year.
- The Board recommended a final dividend of βΉ0.50 per equity share (5% of face value).
- Statutory auditors issued an unmodified opinion, confirming no qualifications in the financial statements.
Krishana Phoschem reported a stellar FY26 with revenue rising 78% to Rs 2,418 crore and PAT increasing 107% to Rs 180 crore. The company significantly expanded its NPK/DAP capacity by 50%, reaching a total phosphatic fertilizer capacity of 615,000 MTPA. Management has guided for over 40% growth in the coming year as new facilities stabilize. Additionally, a 10-year Green Ammonia agreement and a CRISIL rating upgrade to A+ highlight strengthening business fundamentals.
- Annual revenue reached Rs 2,418 crore (+78% YoY) with EBITDA at Rs 298 crore (+62% YoY).
- Net profit for FY26 surged 107% YoY to Rs 180 crore, with EPS rising to Rs 29.1.
- Successfully increased NPK/DAP capacity to 495,000 MTPA and added 99,000 MTPA sulphuric acid capacity.
- Management projects 40% growth in key financial parameters for FY27 following capacity stabilization.
- Entered a 10-year Green Ammonia Sale Agreement for 70,000 MTPA to ensure supply security.
Krishana Phoschem Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar MUFG Intime India Pvt. Ltd, confirms that all dematerialization requests for the quarter ended March 31, 2026, were processed correctly. It verifies that physical certificates were mutilated and cancelled after verification, and the depositories' names were updated in the register of members. This is a standard administrative filing ensuring the integrity of the company's shareholding records.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Registrar MUFG Intime India Pvt. Ltd confirmed processing of all demat requests.
- Physical security certificates were mutilated and cancelled as per SEBI guidelines.
- Register of members updated with depository names within prescribed timelines.
Krishana Phoschem delivered a stellar performance in FY26, with annual revenue reaching a record βΉ2,418 crore and PAT doubling to βΉ180 crore. The company successfully commissioned major expansions in March 2026, increasing NPK/DAP capacity by 50% to 495,000 MTPA and Sulphuric Acid by 38%. A landmark 10-year agreement for 70,000 MTPA of Green Ammonia secures long-term raw material supply and supports sustainability goals. With record production volumes and high capacity utilization, the company is well-positioned for immediate revenue accretion in FY27.
- FY26 Revenue surged 78% YoY to βΉ2,418 Cr; Q4 FY26 Revenue grew 59.8% to βΉ755 Cr
- Annual PAT jumped 108% to βΉ180 Cr, with EPS reaching a record high of βΉ29
- NPK/DAP capacity expanded by 50% to 495,000 MTPA; Sulphuric Acid capacity increased to 363,000 MTPA
- Secured Indiaβs largest Green Ammonia supply deal (70,000 MTPA) for 10 years under the National Green Hydrogen Mission
- Achieved record production volume of 3,97,263 MT and sales volume of 3,84,151 MT in FY26
Krishana Phoschem reported a stellar performance for FY26, with annual revenue growing 78% YoY to βΉ2,418 crore and PAT doubling to βΉ180 crore. The company successfully commissioned its Meghnagar expansion in March 2026, increasing NPK/DAP capacity by 50% to 495,000 MTPA and Sulphuric Acid by 38%. Additionally, a landmark 10-year agreement for 70,000 MTPA of Green Ammonia supply from SECI secures long-term raw material availability and supports decarbonization goals. Operational efficiency remained high with SSP utilization exceeding 100% and record production volumes of nearly 4 lakh MT.
- FY26 Revenue surged 78% YoY to βΉ2,418 Cr; Q4FY26 Revenue grew 59.8% to βΉ755 Cr
- Full-year PAT increased 108% to βΉ180 Cr, with EPS reaching a record βΉ29
- Commissioned capacity expansion for NPK/DAP (+165K MTPA) and Sulphuric Acid (+99K MTPA) in March 2026
- Secured Indiaβs largest Green Ammonia supply deal (70K MTPA) for 10 years under the National Green Hydrogen Mission
- Maintains a 9% national market share in SSP and achieved a 5-year revenue CAGR of 66% versus 12% industry average
Krishana Phoschem reported a stellar performance for the fiscal year ended March 31, 2026, with annual revenue jumping 78% to βΉ2,418 crore compared to the previous year. Net profit for the full year more than doubled, reaching βΉ180.15 crore, up from βΉ86.54 crore in FY25. The company's Q4 performance was particularly strong, with PAT rising 153% year-on-year to βΉ83.08 crore. Additionally, the board has recommended a final dividend of βΉ0.50 per equity share (5% of face value).
- Annual Revenue from Operations grew by 78% YoY to βΉ2,418.00 crore in FY26.
- Net Profit for FY26 surged 108% to βΉ180.15 crore compared to βΉ86.54 crore in FY25.
- Q4 FY26 Revenue stood at βΉ755.49 crore, a 60% increase over Q4 FY25.
- Basic Earnings Per Share (EPS) improved significantly to βΉ29.14 for the full year from βΉ14.00 in the previous year.
- Board recommended a final dividend of βΉ0.50 per share (5% of face value βΉ10).
Krishana Phoschem Limited delivered a robust financial performance for FY26, with total revenue from operations rising 78% to βΉ2,418 crore. The company's net profit saw a massive jump of 108%, reaching βΉ180.15 crore compared to βΉ86.54 crore in the previous fiscal year. Following these strong results, the Board recommended a final dividend of βΉ0.50 per share. The significant growth in EPS to βΉ29.14 highlights improved profitability and operational scale.
- Annual Revenue from Operations grew 78% YoY to βΉ2,418.00 crore in FY26.
- Net Profit for the full year increased by 108% to βΉ180.15 crore from βΉ86.54 crore.
- Quarterly PAT for Q4 FY26 stood at βΉ83.08 crore, a 153% increase over Q4 FY25.
- Board recommended a final dividend of βΉ0.50 per equity share (5% of face value).
- Earnings Per Share (EPS) improved significantly to βΉ29.14 for FY26 compared to βΉ14.00 in FY25.
Krishana Phoschem Limited has officially commenced commercial production at its DAP/NPK Complex fertilizer plant in Meghnagar, Madhya Pradesh, as of March 31, 2026. This operational milestone marks a significant scale-up in the company's manufacturing capabilities within the agricultural inputs sector. With this expansion, the total installed production capacity for DAP/NPK has reached 4,95,000 Metric Tonnes Per Annum. This development is expected to drive substantial revenue growth and improve market positioning in the fertilizer industry.
- Commencement of commercial production for DAP/NPK Complex fertilizer on March 31, 2026.
- Total installed production capacity for DAP/NPK increased to 4,95,000 Metric Tonnes Per Annum.
- The plant is strategically located at Meghnagar, Distt.-Jhabua, Madhya Pradesh.
- The expansion significantly enhances the company's product portfolio in the high-demand fertilizer segment.
Krishana Phoschem has entered into a strategic 10-year Green Ammonia Sale Agreement (GASA) with Solar Energy Corporation of India Limited (SECI). The agreement secures a supply of 70,000 MT of green ammonia per annum, which will be used to produce low-carbon nitrogenous fertilizers. This initiative is expected to save approximately βΉ3,700 crore in foreign exchange over the 10-year period by substituting imported grey ammonia. While the supply is expected to commence in three years, the deal provides long-term raw material security with price parity to traditional ammonia.
- Secured 70,000 MT per annum of Green Ammonia from SECI for a 10-year tenure
- Estimated foreign exchange savings of βΉ3,700 crore over the duration of the agreement
- Supply expected to commence in three years following the execution of the agreement
- Pricing model ensures price parity with traditional grey ammonia, protecting margins
- Strategic alignment with India's National Green Hydrogen Mission for sustainable fertilizer production
Krishana Phoschem Limited has announced the closure of its trading window for all designated persons starting April 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will remain closed until 48 hours after the declaration of the audited financial results for the quarter and year ending March 31, 2026. The specific date for the board meeting to approve these results will be communicated separately.
- Trading window closure for designated persons begins on April 1, 2026.
- Closure pertains to the audited financial results for the quarter and year ending March 31, 2026.
- The window will reopen 48 hours after the official announcement of the financial results.
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the Company's Code of Conduct.
Krishana Phoschem Limited successfully conducted a virtual group meeting with analysts and institutional investors on March 09, 2026. The session lasted for one hour, from 10:00 AM to 11:00 AM, and followed a Q&A format. The company officially stated that no formal presentation was made and no Unpublished Price Sensitive Information (UPSI) was shared during the interaction. This filing serves as a routine regulatory update following previous intimations on March 04 and March 06, 2026.
- Virtual group meeting held on March 09, 2026, between 10:00 AM and 11:00 AM.
- Interaction conducted in a Q&A format with analysts and institutional investors.
- Company confirmed that no formal investor presentation was utilized during the session.
- Management explicitly stated that no Unpublished Price Sensitive Information (UPSI) was disclosed.
Krishana Phoschem Limited has provided the registration link for its upcoming virtual investor meeting scheduled for March 9, 2026. The event, titled 'Bharat Connect Conference: Rising Stars - 2026', is organized by Arihant Capital. The session will run from 10:00 AM to 11:00 AM and will be conducted via a virtual group meet format. The company has explicitly stated that no unpublished price-sensitive information will be discussed during this interaction.
- Virtual investor meeting scheduled for March 9, 2026, between 10:00 AM and 11:00 AM
- Participation in the 'Bharat Connect Conference: Rising Stars - 2026' organized by Arihant Capital
- Registration link for the Zoom webinar has been officially disclosed to the exchange
- Discussions will be limited to publicly available information with no UPSI disclosure intended
Krishana Phoschem Limited has announced its participation in the Arihant Capital - Bharat Connect Conference: Rising Stars - 2026. The virtual group meeting is scheduled for March 9, 2026, from 10:00 AM to 11:00 AM. The company stated that the discussions will be based on publicly available information and no unpublished price sensitive information (UPSI) will be shared. This meeting provides a platform for institutional investors to interact with the management regarding the company's business operations.
- Participation in the Arihant Capital - Bharat Connect Conference: Rising Stars - 2026
- Scheduled virtual group meeting on March 9, 2026, from 10:00 AM to 11:00 AM
- Management confirms no unpublished price sensitive information will be discussed
- Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Krishana Phoschem Limited has entered into a domestic Memorandum of Understanding (MoU) with Yara Fertilisers India Private Limited for a marketing arrangement. This strategic tie-up allows Krishana to sell its agri-input products through Yara's established distribution network. While no upfront consideration was paid, the company expects the partnership to result in a meaningful contribution to its revenue. This move is intended to expand the company's market presence and ensure a steady supply for customers.
- MoU signed with Yara Fertilisers India Private Limited for domestic marketing and sales of agri-inputs.
- Krishana's products will leverage Yara's extensive distribution network to reach a wider customer base.
- No upfront payment involved in the agreement; revenue will be based on agreed commercial terms.
- Management expects a meaningful revenue contribution from this strategic arrangement.
Crisil Ratings has upgraded Krishana Phoschem Limited's long-term credit rating from 'CRISIL A/Stable' to 'CRISIL A+/Stable'. The short-term rating has been reaffirmed at 'CRISIL A1', covering total bank loan facilities of Rs 756 Crore. This upgrade reflects an improved credit profile and enhanced confidence in the company's ability to service its debt obligations. Major lenders involved include HDFC Bank, ICICI Bank, and State Bank of India, with significant term loans and working capital limits under review.
- Long-term credit rating upgraded to CRISIL A+/Stable from CRISIL A/Stable.
- Short-term credit rating reaffirmed at CRISIL A1 for various bank facilities.
- Total bank loan facilities covered under the rating amount to Rs 756 Crore.
- Major term loans include Rs 119.85 Crore from HDFC Bank and Rs 61.35 Crore from Axis Bank.
- The upgrade indicates improved financial stability and potentially lower future borrowing costs.
Financial Performance
Revenue Growth by Segment
Total revenue grew 47.8% YoY to INR 1,366 Cr in FY25 from INR 924 Cr in FY24. In Q2 FY26, the trading segment's contribution to total revenue increased significantly to 20-22%, up from approximately 4.5% in previous periods.
Geographic Revenue Split
The company is expanding its national reach by entering new states and industrial zones, including a strategic expansion into Meghnagar, Madhya Pradesh, to mitigate seasonal demand fluctuations.
Profitability Margins
The company targets a consistent operating margin of 13-14%. Manufacturing margins are currently 11-12%, while trading margins are significantly lower at approximately 2%. PAT margins were exceptionally high at 20-21% in FY23.
EBITDA Margin
Q2 FY26 saw record EBITDA. For SSP, the EBITDA per tonne is approximately INR 1,900 to INR 2,000 on a realization of INR 17,000 (approx. 11.5%). For NPK, the EBITDA per tonne is over INR 6,000.
Capital Expenditure
The company has tied up debt for expansion projects and expects healthy cash accruals of over INR 80 Cr in FY26 and FY27 to fund capital expenditure and incremental working capital.
Credit Rating & Borrowing
The company maintains a healthy credit profile with a CRISIL A/Stable/CRISIL A1 rating. Fund-based limits were utilized at an average of 37% through March 2025.
Operational Drivers
Raw Materials
Sulphur is a primary raw material, representing a significant portion of input costs and subject to high price volatility.
Import Sources
The company has imported and started trading certain grades of NPK to meet market demand and expand its product portfolio.
Key Suppliers
The company relies on well-established vendors and engineers for its 19-20 expansion and diversification projects, though specific supplier names are not disclosed.
Capacity Expansion
The company added DAP-NPK capacity in 2023 and is currently ramping up utilization of these phosphatic fertiliser plants. It is also expanding operations in Meghnagar, M.P.
Raw Material Costs
Raw material costs are managed through long-term supply deals and backward integration. Volatility in Sulphur prices is a key risk that the company mitigates through government subsidies and cost-regulation strategies.
Manufacturing Efficiency
The company is focused on operational excellence and ramping up capacity utilization of recently established DAP/NPK plants to drive growth.
Logistics & Distribution
The company is building new plants in industrial zones to reduce market concentration and increase national reach, optimizing its distribution network.
Strategic Growth
Expected Growth Rate
9.80%
Growth Strategy
Growth will be achieved by targeting a revenue top-line of INR 1,500 Cr, driven by the ramp-up of the DAP/NPK manufacturing segment and increasing the trading turnover (currently 20-22% of revenue). The company is also expanding into new states and industrial zones.
Products & Services
Single Super Phosphate (SSP), NPK (Nitrogen, Phosphorus, Potassium) fertilizers, and specialty chemicals.
Brand Portfolio
Krishana Phoschem Limited, part of the Ostwal Group of Industries.
New Products/Services
Imported NPK grades for trading now contribute 20-22% of total revenue, up from 4.5%.
Market Expansion
Expansion into Meghnagar, M.P., and other new states to increase national reach and reduce geographical concentration risks.
Strategic Alliances
Strong operational and financial linkages with the parent company, Ostwal Phoschem India Ltd (OPIL).
External Factors
Industry Trends
The Indian fertilizer industry is moving toward self-sufficiency. KPL is positioning itself by shifting focus from DAP to NPK production to meet strong market demand.
Competitive Landscape
Faces aggressive competition from both imported and domestic fertilizer players.
Competitive Moat
The company's moat is built on backward integration, which regulates costs, and its established position in the SSP industry as part of the Ostwal Group.
Macro Economic Sensitivity
Highly sensitive to Indian government agricultural policies and the timely disbursement of fertilizer subsidies.
Consumer Behavior
Demand is highly seasonal, with sales predominantly occurring before the sowing seasons.
Geopolitical Risks
Global volatility in raw material prices (Sulphur) can lead to unprecedented cost hikes.
Regulatory & Governance
Industry Regulations
The industry is highly controlled by the government due to its importance to food grain production; KPL is susceptible to regulatory changes in subsidy amounts and pricing.
Environmental Compliance
The company spent INR 94.56 Lakhs on CSR activities in FY25, exceeding the required INR 93.86 Lakhs.
Legal Contingencies
The independent auditor's report for FY25 issued a clean opinion, stating that internal financial controls were operating effectively as of March 31, 2025.
Risk Analysis
Key Uncertainties
Delays in government subsidy disbursements could lead to high reliance on working capital loans and increased financial pressure.
Geographic Concentration Risk
Currently expanding to new states to reduce the risk of market concentration.
Third Party Dependencies
Relies on long-term supply deals for volatile raw materials like Sulphur to mitigate price escalation.
Technology Obsolescence Risk
Mitigated by consistent improvements in production methods and exploration of advanced specialty chemical sectors.
Credit & Counterparty Risk
Exposure to the Government of India for subsidy receivables is a primary counterparty risk.