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Rama Phosphates Limited (RAMAPHO)

₹108.79 +0.06% last close, 16 Oct

📊 NSE: RAMAPHO 🏢 Fertilizers 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q4 FY26)

In its latest reported quarter, Q4 FY26, Rama Phosphates' revenue was ₹219 Cr (+9.0% year on year, -8.0% on the previous quarter).

Q4 FY26 (₹ Cr)	Value	YoY vs Q4 FY25	QoQ
Revenue	₹219	+9.0%	-8.0%

Full quarterly financials → Results calendar →

RAMAPHO delivery percentage

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

On Fri, 16 Oct 2026, 68.91% of the RAMAPHO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 69.0%. That is close to its usual level. Turnover was only ₹12 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal.

68.91%Delivery, 16 Oct

69.0%Own 20-session average

0.5×Volume vs its average

₹108.79NSE close · +0.06%

Delivery in the last 5 sessions: 60.8% · 75.9% · 68.1% · 72.4% · 68.9%

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

Rama Phosphates Submits Reg 74(5) Dematerialisation Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 12:05 PM

Rama Phosphates Limited has submitted the 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 Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026. It confirms that share certificates received for dematerialisation during the period were verified, confirmed, and listed on the exchanges. This is a standard quarterly secretarial disclosure with no material financial impact.

Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026
Filed with stock exchanges on October 06, 2026

💡 No action needed on this procedural filing; track upcoming board meeting announcements for Q2 financial results.

Rama Phosphates Reports Demise of Secretarial Auditor Mr. Ashok Patel

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 17 Aug 2026, 01:12 PM

Rama Phosphates Limited has notified the stock exchanges of the sad demise of Mr. Ashok Patel, Practicing Company Secretary (COP No. 15326) and Secretarial Auditor of the company, on August 16, 2026. The intimation was received by the company on August 17, 2026. His firm, M/s. Ashok Patel & Associates, had been associated with Rama Phosphates as secretarial auditor for the past 1 year. The company will need to appoint a successor secretarial auditor to fulfill regulatory compliance requirements.

Demise of Secretarial Auditor Mr. Ashok Patel occurred on August 16, 2026
Company received intimation of the demise on August 17, 2026
Auditor held Certificate of Practice No. 15326 under M/s. Ashok Patel & Associates
M/s. Ashok Patel & Associates served as Secretarial Auditor for the past 1 year

💡 Track the upcoming board meeting announcements regarding the appointment of a new Secretarial Auditor to ensure regulatory compliance under SEBI LODR and the Companies Act.

Rama Phosphates Appoints New Statutory Auditors for 5-Year Term at 41st AGM

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 13 Aug 2026, 07:23 PM

Rama Phosphates Limited (RAMAPHO) held its 41st Annual General Meeting on August 13, 2026, where shareholders approved the appointment of M/s. Dayal & Lohia as Statutory Auditors. This appointment is for a five-year term, replacing the retiring auditors M/s Khandelwal & Mehta LLP. Additionally, Mrs. Nilanjana Ramsinghani was re-appointed as a Director retiring by rotation. These changes are largely procedural and align with regulatory requirements for auditor rotation.

Appointment of M/s. Dayal & Lohia as Statutory Auditors for a 5-year term until the 46th AGM in 2031
Re-appointment of Mrs. Nilanjana Ramsinghani as Director, who brings 38 years of experience in Business Administration
The term of previous auditors, M/s Khandelwal & Mehta LLP, concluded at the 41st AGM
Remote e-voting for these resolutions concluded on August 12, 2026, at 5:00 p.m.

💡 Investors should monitor the next set of financial results for any changes in accounting disclosures or notes under the new audit firm.

Rama Phosphates Shareholders Approve ₹0.25 Dividend and Auditor Appointment at 41st AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Aug 2026, 07:15 PM

Rama Phosphates Limited (RAMAPHO) held its 41st Annual General Meeting on August 13, 2026, where shareholders approved all five proposed resolutions with near-unanimous support. Key approvals include 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. The promoter group, which holds 75% of the company, voted 100% in favor of all resolutions. A total of 53 shareholders attended the meeting conducted via video conferencing.

Final dividend of ₹0.25 per equity share of face value ₹5 approved for the financial year ended March 31, 2026.
Resolution to adopt FY26 audited financial statements passed with 100% of valid votes (2,66,29,353 shares) in favor.
M/s Dayal & Lohia, Chartered Accountants, appointed as Statutory Auditors of the company.
Promoter group participation was 99.9995% of their holding, with 2,65,39,388 votes cast in favor of all resolutions.
Public non-institutional voting participation was low at approximately 1.0252% of their total shares.

💡 Investors should note the formal approval of the dividend; the next step is to monitor the disbursement timeline. Focus should remain on the company's stated goal of reaching a ₹1,500 Cr turnover through product diversification.

Rama Phosphates declares ₹0.25 dividend at 41st AGM; FY26 financials adopted

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 13 Aug 2026, 05:23 PM

Rama Phosphates Limited concluded its 41st Annual General Meeting on August 13, 2026, where shareholders approved a final dividend of ₹0.25 per equity share (5% of face value). The company adopted the audited financial statements for FY26, which reported a TTM revenue of ₹893 Cr. Key management decisions included the re-appointment of Mrs. Nilanjana Ramsinghani as Director and the appointment of M/s Dayal & Lohia as the new Statutory Auditors. The meeting also ratified the remuneration for the Cost Auditor for the upcoming FY27.

Approved a final dividend of ₹0.25 per equity share of face value ₹5 for FY26.
Adopted Audited Financial Statements for the year ended March 31, 2026, with TTM revenue at ₹893 Cr.
Appointed M/s Dayal & Lohia, Chartered Accountants, as the new Statutory Auditors.
Ratified the remuneration payable to the Cost Auditor for the financial year ending March 31, 2027.
The meeting was attended by 53 members via Video Conferencing and concluded within 40 minutes.

💡 Investors should monitor the upcoming notification for the dividend record date and payment timeline. Focus should remain on the company's ability to scale towards its ₹1,500 Cr turnover target amidst subsidy reliance.

Rama Phosphates Q1 Revenue Hits Record ₹224.8 Cr; Dhule Plant Trials Set for Q2 FY27

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 24 Jul 2026, 05:04 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 24 Jul 2026, 01:30 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 24 Jul 2026, 01:22 PM

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.

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.

💡 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

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 17 Jul 2026, 06:16 PM

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.

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

💡 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 Limited: Routine Compliance for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 06:04 PM

Rama Phosphates Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed within prescribed timelines. This is a procedural filing ensuring that the company's share registry is updated and that dematerialized shares are listed on the stock exchanges. It has no impact on the company's financial performance or operations.

Compliance certificate issued for the quarter ended June 30, 2026
Registrar MUFG Intime India Private Limited confirmed processing of dematerialization requests
Securities comprised in the certificates are listed on the stock exchanges where earlier securities were listed
Register of members updated within prescribed timelines as per SEBI regulations

💡 This is a routine administrative filing. Investors should focus on upcoming quarterly earnings to track the company's progress toward its stated Rs 1,500 Cr turnover goal.

Rama Phosphates Announces Trading Window Closure from July 1, 2026 for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Jun 2026, 05:14 PM

Rama Phosphates Limited has notified the exchanges that its trading window for dealing in company securities will be closed starting July 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the release of unaudited financial results for the quarter ending June 30, 2026. The window will remain shut for all designated persons until 48 hours after the financial results are officially declared. This is a standard regulatory procedure followed by listed companies every quarter.

Trading window closure effective from July 1, 2026
Closure pertains to the unaudited financial results for the quarter ended June 30, 2026
Window to reopen 48 hours after the declaration of financial results
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 No action is required as this is a routine regulatory announcement. Investors should look out for the upcoming date of the board meeting where Q1 results will be discussed.

Rama Phosphates Promoters Disclose 35.38 Lakh Pledged Shares for FY 2025-26

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 19 Jun 2026, 01:09 PM

Rama Phosphates Limited's promoter group has submitted its annual disclosure under Regulation 31(4) of SEBI (SAST) Regulations for the financial year ending March 31, 2026. The promoters declared that 3,538,642 equity shares remain pledged in favor of lenders. The filing confirms that no new encumbrances, direct or indirect, were created during the 2025-26 financial year other than those already reported. This is a routine regulatory transparency measure to inform shareholders about the status of promoter holdings.

Promoters declared a total of 3,538,642 pledged equity shares as of March 31, 2026.
Compliance filing under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
Confirmation that no additional encumbrances were made during the financial year 2025-26.
Disclosure submitted by Haresh D. Ramsinghani on behalf of the Promoter Group.

💡 Investors should check the total promoter holding percentage to determine what portion the 35.38 lakh pledged shares represent. While the disclosure is routine, high promoter pledging can be a risk factor during market volatility.

Rama Phosphates FY26 Revenue Hits Record ₹893 Cr; PBT Surges 175% to ₹70 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 18 May 2026, 06:51 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 18 May 2026, 05:34 PM

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.

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

💡 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 Appoints New Statutory Auditors for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 18 May 2026, 05:27 PM

Rama Phosphates Limited has approved the appointment of M/s. Dayal & Lohia as Statutory Auditors for a five-year term (2026-2031), replacing the retiring auditors M/s Khandelwal & Mehta LLP. The board also re-appointed Mr. Arun Agrawal as the Cost Auditor for the Pune, Indore, Udaipur, and Nimbahera units for the 2026-27 financial year. Furthermore, internal auditors for all four regional units were re-appointed to maintain financial compliance and oversight. These decisions were finalized during the board meeting held on May 18, 2026, and are subject to shareholder approval at the upcoming AGM.

M/s. Dayal & Lohia appointed as Statutory Auditors for a 5-year tenure from the 41st AGM to the 46th AGM.
Retirement of existing Statutory Auditors M/s Khandelwal & Mehta LLP following the completion of their term.
Re-appointment of Mr. Arun Agrawal as Cost Auditor for FY 2026-27 for four major manufacturing units.
Re-appointment of four internal audit firms (MKRK & Co, Pahadia & Associates, K.L. Vyas & Co., and Nyati Mundra & Co.) for regional units.

💡 This is a routine regulatory compliance matter regarding auditor rotation and annual appointments. Investors should ensure they vote on these appointments during the forthcoming Annual General Meeting scheduled for August 13, 2026.

View All RAMAPHO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue for Q2 FY26 reached INR 245.66 Cr, a significant increase from the full-year FY25 revenue of INR 209.46 Cr. Historical revenue grew 22.1% from FY24 (INR 171.45 Cr) to FY25 (INR 209.46 Cr). Segment-specific growth percentages are not disclosed, but the company is expanding its P&K, organic, and bio-fertilizer portfolios.

Geographic Revenue Split

Not disclosed in available documents, though the company is actively expanding its market reach in Northern and Western India to diversify its geographic footprint.

Profitability Margins

Net Profit Margin improved significantly as PAT for Q2 FY26 reached INR 17.28 Cr, which is 461% higher than the total PAT for the entire FY25 (INR 3.08 Cr). The company reported a 'strong surge across all margins' driven by operational efficiency.

EBITDA Margin

EBITDA witnessed a 'strong rise' in Q2 FY26 due to operational efficiency and the import of MOP. Specific EBITDA margin percentages were not disclosed, but PBT increased threefold year-on-year.

Capital Expenditure

Not disclosed in available documents, though the company is investing in R&D and technology to drive growth.

Credit Rating & Borrowing

As of March 11, 2025, ICRA assigned a long-term rating of [ICRA]A- with a Negative outlook for INR 88 Cr in limits and a short-term rating of [ICRA]A2+ for INR 48 Cr in limits. Total rated limits are INR 136 Cr.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Rock Phosphate, Sulphur, and Muriate of Potash (MOP). Specific cost percentages for each are not disclosed.

Import Sources

MOP is imported to drive top-line and bottom-line performance. Rock Phosphate is also imported, with yearly contracts used to mitigate USD fluctuation risks.

Capacity Expansion

The company renewed an SSP contract with Hindustan Urvarak & Rasayan Limited (HURL) for approximately 1 lakh MT for FY26, reinforcing revenue stability.

Raw Material Costs

Raw material costs are subject to price volatility, particularly for Rock Phosphate and Sulphur. The company uses yearly contracts for Rock Phosphate to protect against a 15-20% potential impact from USD fluctuations.

Manufacturing Efficiency

Operational efficiency led to a strong EBITDA rise in Q2 FY26. Specific capacity utilization percentages are not disclosed, though the industry faces pressure from lower capacity utilization.

📈 Strategic Growth

Expected Growth Rate

22%

Growth Strategy

The company aims to become a INR 1,500 Cr turnover entity by diversifying its agriculture portfolio (organic, water-soluble, and bio-fertilizers), expanding digital reach for precision farming, and leveraging strategic contracts like the 1 lakh MT SSP deal with HURL.

Products & Services

Single Super Phosphate (SSP) fertilizer, P&K fertilizers, organic fertilizers, water-soluble fertilizers, and bio-fertilizers.

Brand Portfolio

Rama

New Products/Services

Recently launched products in the P&K and bio-fertilizer segments received a 'tremendous market response,' contributing to record-breaking Q2 FY26 earnings.

Market Expansion

Targeting expansion in Northern and Western India to increase market share in the P&K segment.

Strategic Alliances

Strategic contract with Hindustan Urvarak & Rasayan Limited (HURL) for SSP supply.

🌍 External Factors

Industry Trends

The industry is shifting toward precision farming and digital reach. The fertilizer sector is currently growing but faces input cost volatility and regulatory shifts regarding subsidies.

Competitive Landscape

Faces strict competition due to lower industry-wide capacity utilization and pricing pressure from larger players.

Competitive Moat

The company maintains a moat through a 75% stable promoter holding and a diversified product portfolio that reduces reliance on traditional SSP fertilizers. These advantages are sustainable as long as R&D and market expansion continue.

Macro Economic Sensitivity

Highly sensitive to Government fertilizer subsidy policies and USD exchange rate fluctuations due to import dependency.

Consumer Behavior

Farmers are increasingly adopting precision farming and digital tools, prompting the company to expand its digital reach.

Geopolitical Risks

Dependency on imported Rock Phosphate and MOP exposes the company to trade barriers and international supply chain disruptions.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by SEBI (SBEB & SE) Regulations for ESOPs and Government subsidy norms for the fertilizer sector. The company follows Ind-AS 102 for share-based payments.