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Krishana Phoschem Limited (KRISHANA)

₹208.71 -1.53% last close, 16 Oct

📊 NSE: KRISHANA 🏢 Fertilizers 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Krishana Phoschem's revenue was ₹532 Cr (+34.6% year on year), and net profit ₹47.1 Cr (+54.0% year on year); the operating margin was 16.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹532	+34.6%	—
Operating profit	₹88.9	+35.7%	—
Net profit	₹47.1	+54.0%	—
EPS (₹)	1.52	+53.5%	—
Operating margin	16.7%	—	—

EPS restated for the ₹10 to ₹2 split of Jul 2026: Q1 FY26 ₹4.95 to ₹0.99.

Full quarterly financials → Results calendar →

KRISHANA delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 47.14% of the KRISHANA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 49.97%. That is close to its usual level.

47.14%Delivery, 16 Oct

49.97%Own 20-session average

0.7×Volume vs its average

₹208.71NSE close · -1.53%

Delivery in the last 5 sessions: 44.2% · 54.2% · 40.3% · 38.0% · 47.1%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Krishana Phoschem Submits SEBI Demat Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 06:06 PM

Krishana Phoschem Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate was issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited (formerly Link Intime India Private Limited). The RTA confirmed that no dematerialisation requests were received for processing during the quarter. This filing is purely statutory with zero operational or financial impact.

Filing pertains to the quarter ended September 30, 2026
Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
RTA confirmed 0 dematerialisation requests were received during the quarter
Certificate issued by MUFG Intime India Private Limited on October 6, 2026

💡 No action required; this is a regular quarterly secretarial disclosure. Investors should look out for upcoming Q2 FY27 financial results.

CRISIL Reaffirms Krishana Phoschem's Long-Term Rating at A+/Stable for Rs 1,125 Cr Bank Limits

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 08 Oct 2026, 05:51 PM

CRISIL Ratings has reaffirmed Krishana Phoschem's long-term bank facilities rating at 'CRISIL A+/Stable' and short-term rating at 'CRISIL A1' for a total quantum of Rs 1,125 crore. Importantly, both ratings have been removed from 'Rating Watch with Developing Implications', resolving the prior rating watch overhang. Total rated facilities of Rs 1,125 crore include cash credit, term loans, and letters of credit, compared to the company's current balance sheet debt of Rs 733 crore. This reaffirmation provides stability to the company's borrowing terms and credit profile.

CRISIL reaffirmed Long-Term Rating at 'CRISIL A+/Stable' and Short-Term Rating at 'CRISIL A1'
Ratings removed from 'Rating Watch with Developing Implications'
Total bank loan facilities rated stand at Rs 1,125 crore
Term loan allocations include Rs 75.39 crore with Axis Bank and Rs 30.23 crore with ICICI Bank
Letters of credit rated total Rs 565 crore across multiple lenders including YES Bank and ICICI Bank

💡 Monitor upcoming quarterly results to track interest coverage ratios and debt servicing metrics as the company ramps up DAP/NPK plant utilization.

54% PAT Growth in Q1 FY27; Krishana Phoschem Reports Rs 532 Cr Revenue

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 18 Jul 2026, 05:55 PM

Krishana Phoschem reported a strong Q1 FY27 with revenue growing 35% YoY to Rs 532 Cr and PAT increasing 54% to Rs 47 Cr. Despite raw material volatility, with Sulphur prices spiking to Rs 1 lakh per tonne, the company maintained a manufacturing EBITDA margin of approximately 21% (consolidated 17%), significantly outperforming industry peers. Growth was supported by a 33% YoY increase in NPK sales and a 28% increase in SSP sales. The company also completed a 5-for-1 stock split to enhance retail liquidity.

Revenue from operations increased 35% YoY to Rs 532 Cr for Q1 FY27
Net profit (PAT) grew 54% YoY to Rs 47 Cr, with EPS rising to Rs 1.52 from Rs 0.99
SSP unit achieved 121% capacity utilization, while the NPK-DAP unit operated at 43%
Sulphur prices surged from Rs 65,000-70,000 per tonne in April to Rs 1,00,000 per tonne by July
Introduced five new complex fertilizer variants including 12:32:16 and 9:24:24 to diversify the product mix

💡 Watch the capacity utilization ramp-up of the NPK-DAP unit from its current 43% level and monitor the stability of raw material costs like Sulphur and Rock Phosphate, which are sensitive to West Asia geopolitical tensions.

Krishana Phoschem Releases Q1 FY27 Earnings Call Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Jul 2026, 06:13 PM

Krishana Phoschem has released the audio recording of its Q1 FY27 earnings conference call held on July 14, 2026. The company is currently operating with a TTM revenue of 1,359 Cr and is targeting a top-line of 1,500 Cr. The call likely covers the ramp-up of DAP/NPK manufacturing capacity and the impact of trading activities, which now account for 20-22% of revenue. Investors can access the recording via the company's website for detailed management commentary on operational efficiency and subsidy disbursements.

Earnings conference call for Q1 FY27 held on July 14, 2026, at 4:00 P.M.
Company targeting a revenue top-line of 1,500 Cr, a ~10% increase over TTM revenue of 1,359 Cr
Trading turnover has increased significantly to 20-22% of revenue from a previous 4.5%
Manufacturing margins remain higher at 11-12% compared to trading margins of 2%
Promoter holding remains stable at 72.94% as of March 2026

💡 Investors should review the recording for management's guidance on DAP/NPK capacity utilization and the timeline for the Meghnagar, M.P. expansion.

Rs 1125 Cr Bank Facilities Rated; CRISIL A+/A1 Maintained on 'Watch Developing'

🔵 WATCH ⭐ 6/10

ROUTINE 📅 09 Jul 2026, 05:30 PM

Krishana Phoschem has received a credit rating update from CRISIL, reaffirming its 'CRISIL A+' (Long Term) and 'CRISIL A1' (Short Term) ratings. Crucially, the total rated bank facilities have been significantly enhanced by 48.8% to Rs 1,125 crore from the previous Rs 756 crore. Both ratings remain on 'Rating Watch with Developing Implications,' indicating that the credit profile is under active monitoring for potential changes. The total rated amount is substantial, representing approximately 200% of the company's net worth of Rs 561 crore.

Total bank loan facilities rated increased to Rs 1,125 crore from Rs 756 crore.
Long-term rating maintained at CRISIL A+ with a 'Watch Developing' outlook.
Short-term rating maintained at CRISIL A1 with a 'Watch Developing' outlook.
The enhanced facility amount (Rs 1,125 cr) is ~1.33x the company's current market capitalization of Rs 846 crore.
Term loans from various banks including Axis, ICICI, Shinhan, and HDFC total approximately Rs 216 crore within the rated structure.

💡 Monitor the resolution of the 'Watch Developing' status by CRISIL, which will clarify the direction of the company's credit profile. Investors should also track the utilization of the enhanced credit limits and its impact on the Debt-to-Equity ratio, which is already elevated at 1.31.

July 14: Krishana Phoschem to Host Q1 FY27 Earnings Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 09 Jul 2026, 04:47 PM

Krishana Phoschem has scheduled its Q1 FY27 earnings call for July 14, 2026, at 4:00 PM IST to discuss results for the quarter ended June 30, 2026. The call will feature top management, including Promoter & Director Praveen Ostwal and CFO Sunil Kothari. This interaction is critical given the stock's 77% decline over the last three months and the company's ongoing ramp-up of DAP/NPK capacity. Investors will likely seek clarity on how the 20-22% trading revenue mix is impacting the overall 13.2% operating margins.

Earnings call scheduled for July 14, 2026, at 16:00 hrs IST via virtual mode
Management to discuss financial performance for the quarter ended June 30, 2026
Key participants include the Promoter & Director, CFO, and Group Financial Advisor
Company currently operates with a TTM revenue of ₹1,359 Cr and a PAT of ₹84 Cr
Stock has experienced a significant 12-month price return of -69.1% leading up to this call

💡 Monitor the call for management's guidance on DAP/NPK capacity utilization and the strategy to mitigate margin dilution from the trading segment.

Krishana Phoschem reports zero demat requests for quarter ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jul 2026, 07:03 PM

Krishana Phoschem Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing, covering the period from April 1, 2026, to June 30, 2026, confirms that the company's Registrar and Share Transfer Agent (RTA) managed all depository interactions. Specifically, the RTA, MUFG Intime India Private Limited, noted that no dematerialization requests were received during this quarter. This is a standard administrative disclosure with no impact on business operations or financials.

Compliance certificate issued for the quarter ended June 30, 2026
Zero (0) demat requests were received for processing during the quarter
Certificate provided by MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

💡 This is a routine regulatory filing. Investors should focus on upcoming quarterly earnings for material updates on business performance.

Krishana Phoschem Shareholders Approve Dividend and ₹2,000 Crore Borrowing Limit

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 26 Jun 2026, 05:27 PM

Krishana Phoschem Limited successfully concluded its 22nd Annual General Meeting on June 24, 2026, passing all 14 proposed resolutions. Shareholders approved the declaration of a dividend for the financial year 2025-26 and the re-appointment of Director Mahendra Kumar Ostwal. Most notably, the company received approval to significantly increase its borrowing powers and asset-charging limits to ₹2,000 Crores. The voting process saw a high turnout of 84.73%, with nearly 100% support for the major financial resolutions.

Shareholders approved an increase in borrowing limits to ₹2,000 Crores under Section 180(1)(c).
Dividend for the financial year 2025-26 was officially declared and approved by the members.
Total votes polled reached 52.39 million, representing 84.73% of the total outstanding shares.
Limits for creating charges or security over company assets were also raised to ₹2,000 Crores.
All 14 resolutions, including the adoption of FY26 financial statements, were passed with near-unanimous support.

💡 The massive increase in borrowing limits to ₹2,000 Crores suggests the company is preparing for significant capital expenditure or expansion; investors should watch for upcoming project announcements. The dividend approval confirms immediate returns for shareholders.

Krishana Phoschem Shareholders Approve Archana Dangi as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Jun 2026, 08:08 PM

Krishana Phoschem Limited has received shareholder approval at its 22nd AGM for the regularization of Mrs. Archana Dangi as a Non-Executive Independent Director. Mrs. Dangi, aged 61, brings over 10 years of industrial experience in business strategy to the company's board. Her appointment is effective for a five-year term concluding on May 25, 2031. This move ensures the company remains compliant with corporate governance standards regarding independent board representation.

Shareholders approved the appointment at the 22nd AGM held on June 24, 2026.
Mrs. Archana Dangi appointed as Non-Executive Independent Director for a 5-year term until May 25, 2031.
The appointee possesses over 10 years of experience in business strategy and holds a Bachelor of Arts degree.
Confirmed that the appointee is not related to any other directors and is not debarred by SEBI.

💡 This is a routine governance update and does not require any immediate portfolio changes. Investors should continue to monitor the company's operational performance and strategic execution.

Krishana Phoschem Shareholders Approve Archana Dangi as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Jun 2026, 07:57 PM

Krishana Phoschem Limited has received shareholder approval at its 22nd AGM for the appointment of Mrs. Archana Dangi as a Non-Executive Independent Director. The appointment is for a five-year term effective from May 26, 2026, through May 25, 2031. Mrs. Dangi, aged 61, brings over 10 years of industrial experience in business strategy to the company's board. This regularization ensures the company remains compliant with SEBI corporate governance requirements regarding independent board representation.

Mrs. Archana Dangi appointed as Non-Executive Independent Director for a 5-year term ending May 25, 2031
Shareholder approval obtained during the 22nd Annual General Meeting held on June 24, 2026
The appointee has over 10 years of industrial experience specifically in business strategy
The director is not related to any other directors on the board and is not debarred by SEBI

💡 No immediate action is required as this is a routine management update. Investors should note the strengthening of the board's strategic oversight with this appointment.

Krishana Phoschem Sets July 3 as Record Date for 1:5 Stock Split

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 24 Jun 2026, 02:24 PM

Krishana Phoschem Limited has officially fixed July 3, 2026, as the record date for its stock subdivision. The company will split each existing equity share of face value ₹10 into five equity shares of face value ₹2 each. This corporate action is designed to increase the liquidity of the stock and make it more accessible to a broader base of retail investors. The adjustment in share price and quantity will reflect in portfolios following the record date.

Record date for the 1:5 stock split is confirmed as July 3, 2026
Face value of equity shares to be reduced from ₹10 to ₹2 per share
Board of Directors approved the resolution on June 24, 2026
Total number of shares held by investors will increase by 5x post-split

💡 Existing shareholders do not need to take any action as the split is processed automatically. Potential investors should note that the stock price will adjust downwards in proportion to the 1:5 split ratio on the ex-date.

Krishana Phoschem AGM: 1:5 Stock Split Approved and Borrowing Limit Raised to ₹2000 Cr

🟢 POSITIVE ⭐ 8/10

ROUTINE 📅 24 Jun 2026, 02:19 PM

Krishana Phoschem held its 22nd AGM on June 24, 2026, where shareholders approved a 1:5 stock split, reducing the face value from ₹10 to ₹2. The company received authorization to significantly increase its borrowing powers and asset disposal limits to ₹2000 Crores each. Additionally, a dividend for FY 2025-26 was declared, and a resolution for fresh fundraising through various instruments like QIP or private placement was passed. The meeting also ratified material related party transactions and increased the limit for loans to interested parties to ₹300 Crores.

Approved 1:5 stock split, sub-dividing each ₹10 face value share into five ₹2 shares.
Increased borrowing powers and asset disposal limits to ₹2000 Crores to support future growth.
Authorized fundraising through QIP, private placement, or rights issues in supersession of earlier approvals.
Approved loans to directors or interested parties up to a revised limit of ₹300 Crores.
Declared equity dividend for FY 2025-26 and ratified material related party transactions.

💡 Investors should watch for the announcement of the record date for the 1:5 stock split, which is expected to improve share liquidity. The substantial increase in borrowing limits and fundraising authorization indicates the company is positioning itself for significant capital expenditure or expansion.

Krishana Phoschem Promoters Declare Zero Share Encumbrances for FY 2023-24

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 22 Jun 2026, 02:52 PM

Praveen Ostwal, on behalf of the promoter group of Krishana Phoschem Limited, has submitted the annual disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011. The declaration confirms that the promoters, along with persons acting in concert (PAC), have not created any encumbrance, directly or indirectly, on their shareholding during the financial year. A total of 37 entities and individuals are identified as part of the promoter group in this filing. This routine compliance ensures transparency regarding the status of promoter-held shares.

Annual declaration submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
Promoter group confirms no new encumbrances or pledges were made on their shares during the financial year.
The disclosure includes a comprehensive list of 37 promoter group members, including corporate entities like Ostwal Phoschem (India) Limited.
Confirms compliance with transparency norms regarding promoter shareholding for the period ending March 31, 2024.

💡 No immediate action is required as this is a routine regulatory filing. Investors can view the lack of promoter share pledging as a sign of financial stability and management confidence.

Krishana Phoschem Reports Zero Promoter Share Encumbrance for FY Ended March 31, 2026

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 17 Jun 2026, 01:08 PM

Krishana Phoschem Limited has filed a disclosure under Regulation 31(4) of the SEBI (SAST) Regulations for the financial year ending March 31, 2026. The filing confirms that none of the promoters or the promoter group, including persons acting in concert, have encumbered or pledged any of their shares. This annual declaration is a standard compliance requirement to ensure transparency regarding promoter holdings. The absence of pledged shares is generally viewed as a sign of financial stability within the promoter group.

Compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Confirmation of zero encumbrance on shares held by promoters and promoter group as of March 31, 2026.
The disclosure includes all persons acting in concert (PAC) with the promoters.
Annual certification provides transparency regarding the lack of promoter leverage against company equity.

💡 Investors should take this as a positive sign of promoter confidence and financial health, as zero pledging reduces the risk of forced sell-offs. No immediate action is required other than noting the stable promoter holding structure.

Krishana Phoschem Concludes Virtual Investor Group Meeting on June 16, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Jun 2026, 05:25 PM

Krishana Phoschem Limited conducted a virtual group meeting with analysts and institutional investors on June 16, 2026. The session lasted for one hour, from 11:00 AM to 12:00 PM, and followed a Q&A format. The company confirmed that only publicly available information was discussed, ensuring no unpublished price sensitive information (UPSI) was disclosed. This meeting follows a prior intimation made on June 05, 2026, regarding the scheduled interaction.

Meeting held virtually on June 16, 2026, between 11:00 AM and 12:00 PM.
Interaction conducted in a Q&A format with a presentation by company officials.
Company explicitly stated that no Unpublished Price Sensitive Information (UPSI) was shared.
The meeting was a follow-up to the initial intimation provided on June 05, 2026.

💡 Investors should monitor the company's website for the presentation materials used during the call to understand the current business outlook. No immediate trading action is required based on this routine disclosure.

View All KRISHANA Announcements on Live Market Tracking →

💰 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.