Paradeep Phosphates Limited (PARADEEP)
₹147.16 +0.51% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Paradeep Phosphates' revenue was ₹6,124 Cr (+63.1% year on year, +30.2% on the previous quarter), and net profit ₹393 Cr (+53.4% year on year); the operating margin was 11.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹6,124 | +63.1% | +30.2% |
| Operating profit | ₹720 | +54.6% | +62.9% |
| Net profit | ₹393 | +53.4% | +151.6% |
| EPS (₹) | 3.78 | +20.4% | +152.0% |
| Operating margin | 11.8% | — | — |
PARADEEP delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 41.02% of the PARADEEP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 40.12%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 50.0% · 43.2% · 37.2% · 35.7% · 41.0%
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
Paradeep Phosphates 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, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited (formerly Link Intime India), confirms that securities received for dematerialisation during the period were duly processed, confirmed or rejected, and mutilated within prescribed timelines. This is a standard quarterly administrative filing with no operational or financial impact on the company.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Certificate issued by RTA MUFG Intime India Private Limited dated October 3, 2026
- Covers ISIN INE088F01024 across BSE (543530) and NSE (PARADEEP)
Paradeep Phosphates Limited reported the voting results and scrutinizer's report for its 44th Annual General Meeting held on September 17, 2026. All 8 resolutions were approved by shareholders, including the FY26 dividend, material related-party transactions, and the adoption of the Performance Stock Option Plan 2026. Notably, institutional investors showed significant dissent on the ESOP plan, with 64.30% of institutional votes polled cast against it, though it passed with 81.16% overall approval.
- All 8 resolutions passed at the 44th AGM held on September 17, 2026
- Approval of FY26 dividend passed with 99.999% overall votes in favour
- Performance Stock Option Plan 2026 approved with 81.16% total votes in favour, despite 16.05 cr institutional votes (64.30% of polled) against it
- Total voting turnout stood at 82.03% across 1,038,520,250 total equity shares
Paradeep Phosphates Limited concluded its 44th Annual General Meeting on September 17, 2026. Shareholders voted on 8 key agenda items, including the declaration of dividend for FY 2025-26 and the adoption of audited financial statements (consolidated revenue reached ₹21,076.93 Cr in FY26). Special business transacted included approvals for material related-party transactions, the continuation of Mr. Saroj Kumar Poddar as Chairman, and the introduction of the 'Performance Stock Option Plan 2026'. Detailed voting results under Regulation 44(3) will be submitted separately.
- Conducted 44th Annual General Meeting on September 17, 2026, starting at 3.00 P.M. and concluding at 03.47 P.M. IST
- Tabled adoption of standalone and consolidated financial statements for the year ended March 31, 2026
- Proposed declaration of dividend for the Financial Year 2025-26
- Sought special resolution approval for 'Paradeep Phosphates Limited Performance Stock Option Plan 2026'
- Addressed approval of material related party transactions as part of ordinary business
Paradeep Phosphates Limited has notified exchanges of upcoming physical one-to-one institutional investor and analyst meetings scheduled for September 21 and September 22, 2026. The meetings will be hosted by Elara Capital in the United Kingdom. The company confirmed that no unpublished price sensitive information (UPSI) will be discussed during these interactions.
- Meeting dates scheduled for 21.09.2026 & 22.09.2026
- Interaction format: Physical One-to-One Interactions
- Meeting location: United Kingdom
- Host broker: Elara Capital
- Company reiterated that no UPSI will be shared
Paradeep Phosphates Limited has scheduled participation in an investor conference hosted by Elara Capital on Tuesday, September 1, 2026, in Mumbai. The interaction will involve 1:1 physical and group meetings with institutional investors and analysts. The company confirmed that no unpublished price-sensitive information (UPSI) will be shared during the sessions.
- Management participating in Investor Conference hosted by Elara Capital on September 01, 2026
- Meeting format includes 1:1 physical and group interactions in Mumbai
- Company confirmed that no unpublished price sensitive information (UPSI) will be shared
Paradeep Phosphates Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 pursuant to SEBI Listing Regulations. The report confirms operations across 4 manufacturing plants (Goa, Mahad, Mangalore, and Paradeep) following the merger of MCFL. For FY26, complex inorganic fertilizers contributed 64% of turnover, followed by wholesale trading at 17% and urea at 15%. The company reported a workforce of 2,163 permanent employees and 4,945 contract workers across 18 states.
- 4 manufacturing plants operational across Goa, Mahad, Mangalore, and Paradeep post-MCFL merger
- Complex inorganic fertilizers formed 64% of entity turnover, with urea and organic fertilizers at 15%
- Workforce comprised 2,163 permanent employees and 4,945 non-permanent workers as of FY26 end
- 19 shareholder complaints received and resolved during FY26 (0 pending)
Paradeep Phosphates Limited has issued notice for its 44th Annual General Meeting scheduled for September 17, 2026. Key special resolutions include the implementation of the 'PSOP 2026' stock option plan covering up to 20,00,000 equity shares (face value Rs 10 each). The company is also seeking shareholder approval for material related party transactions during FY27 with key phosphate suppliers OCP SA, Indo Maroc Phosphates S.A, and Phosphates De Boucraa S.A, alongside the continuation of Mr. Saroj Kumar Poddar as Chairman beyond 75 years of age.
- 44th Annual General Meeting convened for September 17, 2026 at 3:00 PM IST via video conferencing.
- Proposed introduction of 'PSOP 2026' stock option plan comprising up to 20,00,000 equity shares of face value Rs 10 each.
- Seeking shareholder approval for material related party transactions in FY27 with OCP SA, Indo Maroc Phosphates S.A, and Phosphates De Boucraa S.A.
- Continuation of Mr. Saroj Kumar Poddar as Non-Executive Chairman beyond age 75 put up for special resolution.
- Proposed Non-Executive Director remuneration capped at 1% of net profits and a maximum of Rs 10,00,000 per annum per Director.
Paradeep Phosphates Limited has scheduled physical one-to-one interactions with analysts and institutional investors on August 26 and August 27, 2026, in Mumbai. The intimation is made pursuant to Regulation 30 of SEBI LODR Regulations. The company stated that no Unpublished Price Sensitive Information (UPSI) will be shared during these meetings.
- Meeting dates scheduled for August 26, 2026 and August 27, 2026
- Format: Physical one-to-one interactions with analysts/investors
- Location of meetings: Mumbai
- No Unpublished Price Sensitive Information (UPSI) proposed to be shared
Paradeep Phosphates has received an adjudication order from the Commissioner of Customs, Goa, imposing fines and penalties totaling ₹93.59 crore. The order alleges mis-declaration of seven consignments of imported Prilled Urea (assessable value of ₹465.23 crore) where biuret content exceeded 0.80%. The total liability comprises a ₹23.26 crore redemption fine and ₹70.33 crore in penalties under the Customs Act, 1962, representing ~8.7% of TTM PAT (₹1,073 crore). The company disputes the findings and intends to pursue legal recourse.
- Total financial demand of ₹93.59 crore imposed by Commissioner of Customs, Goa (order received August 20, 2026).
- Demand includes ₹23.26 crore redemption fine, ₹46.52 crore penalty under Sec 112(a)(i), and ₹23.81 crore under Sec 114AA.
- Pertains to seven consignments of Prilled Urea with an assessable value of ₹465.23 crore.
- Customs held the goods as prohibited/Fertilizer Grade Urea due to biuret content exceeding 0.80% limit for Technical Grade.
- Company disputes the post-clearance testing methodology and will pursue legal appeals.
Paradeep Phosphates Limited (PPL) has launched a crop-specific customized fertilizer, 'JAI KISAAN NAVRATNA CROPFIT', targeted at sugarcane cultivation across 13 districts in Karnataka. The FCO-approved formulation combines NPK (14:14:13) with Sulphur (4%), Zinc (1%), Iron (1%), and Boron (0.1%) for basal application. This initiative aligns with PPL's strategy to expand high-value, differentiated crop nutrition products in Southern India post-MCFL integration. Specific revenue guidance or production capacity for the new product was not disclosed.
- Launched customized fertilizer formulation of NPK 14:14:13 tailored for sugarcane crops in Karnataka
- Enriched with 4% Sulphur, 1% Zinc, 1% Iron, and 0.1% Boron for single-stage basal application
- Targets 13 sugarcane-growing districts including Belagavi, Bagalkot, Mandya, and Mysuru
- Revenue contribution and volume targets for the product were not disclosed
Paradeep Phosphates Limited has fixed September 04, 2026, as the record date to determine eligible shareholders for the FY26 dividend. The final payout remains subject to shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for September 17, 2026. For FY26, the company reported total revenue of Rs 21,076.93 Cr and a net profit of Rs 935.85 Cr.
- Record date set for September 04, 2026 to determine FY26 dividend eligibility
- Annual General Meeting (AGM) scheduled for September 17, 2026 at 03:00 PM IST
- Dividend payout is contingent upon shareholder approval at the AGM
- Specific dividend amount per share was not disclosed in this intimation
Paradeep Phosphates Limited has announced that its 44th Annual General Meeting (AGM) will be held on Thursday, September 17, 2026, at 3:00 P.M. The meeting will be conducted virtually through Video Conferencing (VC) and Other Audio Visual Means (OAVM). This is a standard statutory notification under listing regulations with no operational or financial updates enclosed.
- 44th Annual General Meeting scheduled for September 17, 2026
- Meeting time confirmed for 3:00 P.M. IST
- Meeting to be conducted via Video Conferencing / OAVM
- Filing submitted to exchanges on August 17, 2026
Paradeep Phosphates Limited's Nomination and Remuneration Committee approved the allotment of 3,49,656 equity shares of face value Rs. 10 each on August 14, 2026, pursuant to the exercise of options under its ESOP 2021 scheme. The exercise prices ranged between Rs. 42 and Rs. 64 per share across four distinct tranches. Following this allotment, the company's total issued share count increased marginally from 1,03,81,70,594 to 1,03,85,20,250 equity shares, representing an immaterial equity dilution of approximately 0.034%.
- Allotment of 3,49,656 equity shares of face value Rs. 10 each under ESOP 2021 on August 14, 2026.
- Exercise prices comprised 1,68,974 shares at Rs. 42, 1,55,894 shares at Rs. 51, 13,156 shares at Rs. 56, and 11,632 shares at Rs. 64 per share.
- Paid-up share capital increased from Rs. 1,038.17 Cr (103.82 Cr shares) to Rs. 1,038.52 Cr (103.85 Cr shares).
- Dilution impact is negligible at ~0.034% of existing equity capital.
Paradeep Phosphates Limited has completed the incorporation of a new wholly-owned subsidiary (WOS) named 'Fertilizer Innovation Foundation–India' on August 11, 2026. The entity is established as a not-for-profit institution under Section 8(1) of the Companies Act, 2013, focusing on research, innovation, and capacity building in the agriculture sector. The company has subscribed to 100% of the initial paid-up share capital at a face value of Rs 10 per share. This move is administrative and strategic, aimed at long-term sustainability rather than immediate commercial revenue.
- Incorporation of 'Fertilizer Innovation Foundation–India' finalized on August 11, 2026
- Entity is a 100% Wholly Owned Subsidiary (WOS) of Paradeep Phosphates Limited
- Shares subscribed at a face value of Rs 10 per share via cash consideration
- Licensed under Section 8(1) of the Companies Act, 2013 as a not-for-profit entity
- Focus areas include research, innovation, and technology development in the fertilizer sector
The Supreme Court of India has dismissed an appeal by the Department of Fertilizers (DoF) against a previous Delhi High Court order favoring Paradeep Phosphates. This final ruling mandates the DoF to release ₹53.50 crore in pending subsidies under the Nutrient Based Subsidy (NBS) scheme. While the amount represents only 0.25% of TTM revenue, it accounts for approximately 5.7% of TTM PAT, providing a notable one-time boost to cash flows. The company is also entitled to applicable interest on this amount as per the original writ petition.
- Supreme Court dismissed the Department of Fertilizers' appeal on August 7, 2026.
- Mandates the release of ₹53.50 crore in subsidy claims under the NBS Scheme.
- The ruling upholds a previous Delhi High Court judgment from May 16, 2025.
- The claim includes the principal amount plus applicable interest.
- Resolution of a long-standing dispute with the Ministry of Chemicals and Fertilizers.
Financial Performance
Revenue Growth by Segment
Revenue from operations in Q2 FY26 rose 48.8% YoY to INR 6,872.2 Cr. Growth was led by value-added NPK grades (N20 volumes grew 52% YoY) and TSP (volumes grew 339% YoY). H1 FY26 revenue grew 46.3% YoY to INR 11,375.7 Cr.
Geographic Revenue Split
Not explicitly disclosed in percentages, but the company is expanding into the Southern region of India following the strategic merger with MCFL.
Profitability Margins
Net Profit Ratio improved significantly from 0.86% in FY24 to 4.00% in FY25. ROCE improved from 6.57% to 12.98% over the same period. Q2 FY26 PAT margin stood at 4.9%.
EBITDA Margin
EBITDA margin for Q2 FY26 was 10.1%, a decrease from 11.4% in Q2 FY25. However, H1 FY26 EBITDA grew 69.3% YoY to INR 1,313.1 Cr with a margin of 11.5%.
Capital Expenditure
The company is undertaking a major capacity expansion with a planned Capex of INR 3,600 Cr, targeting an asset turn of 2x to 2.5x with commissioning expected by FY28.
Credit Rating & Borrowing
ICRA has assigned a rating of [ICRA]A+ (Rating watch with developing implications). Borrowing costs for term loans range between 7.12% and 9.0%.
Operational Drivers
Raw Materials
Critical raw materials include Rock Phosphate, Sulphuric Acid, Phosphoric Acid, and Ammonia. Cost of material consumed represented 47.1% of revenue in Q2 FY26 (INR 3,236.6 Cr).
Import Sources
Raw materials are imported from various global markets to mitigate domestic supply constraints, though specific countries are not listed.
Key Suppliers
Approximately 48% of total purchases are from related parties within the promoter group to ensure supply security.
Capacity Expansion
Phosphoric acid capacity was increased from 3 lakh MTPA to 5 lakh MTPA in Q2 FY24. Planned Capex of INR 3,600 Cr will further expand complex fertilizer granulation units by FY28.
Raw Material Costs
Raw material costs are highly sensitive to global price volatility. Backward integration into phosphoric and sulphuric acid is expected to improve margins by INR 1,000 to INR 1,500 per ton.
Manufacturing Efficiency
Q2 FY26 production rose 19% YoY to 10.06 lakh tons. The company aims for 100% backward integration by the end of FY28 to maximize efficiency.
Logistics & Distribution
The company leverages its port-based location at Paradeep for efficient raw material handling, though port congestion remains a noted risk factor.
Strategic Growth
Expected Growth Rate
28%
Growth Strategy
Growth will be achieved through an INR 3,600 Cr capacity expansion (FY28 commissioning), 100% backward integration to boost margins by INR 1,000-1,500/ton, and capturing Southern Indian market share via MCFL synergies.
Products & Services
Manufactured and traded fertilizers including NPK (notably N20), DAP (Di-Ammonium Phosphate), MOP (Muriate of Potash), TSP (Triple Super Phosphate), and Nano fertilizers.
Brand Portfolio
Paradeep Phosphates (PPL) and Mangalore Chemicals and Fertilizers Limited (MCFL).
New Products/Services
Strategic focus on TSP (Triple Super Phosphate) and Nano fertilizers which have a smaller carbon footprint and higher value-add potential.
Market Expansion
Expanding market presence into Southern India through the MCFL merger and strengthening dealer engagement (6,050 dealers currently).
Market Share & Ranking
The company claims leadership in sustainable business practices and is a major player in the phosphatic/complex fertilizer segment.
Strategic Alliances
Strategic merger with MCFL and established joint ventures for operational synergies.
External Factors
Industry Trends
The industry is shifting toward value-added NPKs and sustainable 'green' fertilizers. Regulatory trends include potential mandates for green hydrogen in manufacturing.
Competitive Landscape
Facing pressure from existing competitors' capacity expansions and industry consolidation leading to larger players with enhanced economies of scale.
Competitive Moat
Moat is built on cost leadership through 100% backward integration (target FY28), port-based logistics advantages, and a massive distribution network of 6,050 dealers.
Macro Economic Sensitivity
Highly sensitive to agro-climatic conditions (monsoon) and global commodity cycles for raw material imports.
Consumer Behavior
Rising awareness of chemical fertilizer impacts and growing demand for organic produce pose long-term threats to traditional fertilizer offtake.
Geopolitical Risks
Ongoing geopolitical conflicts impact global supply chains, freight costs, and the timely availability of imported inputs.
Regulatory & Governance
Industry Regulations
Operations are governed by the Nutrient Based Subsidy (NBS) scheme, pollution norms, and potential future green hydrogen mandates.
Environmental Compliance
Established an ESG Steering Committee to oversee environmental stewardship and established ESG KPIs and targets.
Taxation Policy Impact
The company's effective tax impact is reflected in the difference between its PBT margin (6.8%) and PAT margin (4.9%) for Q2 FY26.
Risk Analysis
Key Uncertainties
Volatility in global raw material prices (Rock Phosphate/Ammonia) and changes in Government subsidy (NBS) levels are the primary uncertainties.
Geographic Concentration Risk
Historically concentrated in Eastern India, now diversifying into Southern India to reduce regional dependency.
Third Party Dependencies
High dependency on the promoter group for raw materials (48% of purchases) and top 10 trading houses (88.29% of trading purchases).
Technology Obsolescence Risk
Mitigated by investing in Nano fertilizer technology and modern granulation units to stay ahead of traditional product decline.
Credit & Counterparty Risk
Receivables quality is high, with the Trade Receivables Turnover Ratio improving 45% YoY to 5.13x in FY25.
