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SHREEPUSHK - Sh.Pushkar Chem.

📊 NSE: SHREEPUSHK 🏢 Dyes And Pigments 📅 Last Updated: 12/14/2025 13:05

📢 Recent Corporate Announcements

Shree Pushkar Chemicals Schedules Non-Deal Roadshow in Mumbai for March 13, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Mar 2026, 05:50 PM

Shree Pushkar Chemicals & Fertilisers Limited has announced a Non-Deal Roadshow (NDR) scheduled for March 13, 2026. The event will be a physical group meeting held in Mumbai to engage with institutional investors and analysts. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during this interaction. This is a standard investor relations activity aimed at improving market transparency and engagement.

Non-Deal Roadshow (NDR) scheduled for Friday, March 13, 2026.
The meeting will be conducted in a physical group format in Mumbai, Maharashtra.
Company confirmed that no unpublished price sensitive information (UPSI) will be disclosed.
The schedule is subject to change based on exigencies from either the company or investors.

💡 Investors should monitor for any corporate presentations or transcripts released on the stock exchange following the roadshow for updates on business outlook. No immediate trading action is required as this is a routine communication.

Shree Pushkar Q3 FY26 Revenue Up 14.6% to ₹249 Cr; PAT Rises 13.5% to ₹18 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 17 Feb 2026, 04:45 PM

Shree Pushkar Chemicals reported a 14.6% YoY revenue growth to ₹249 crores in Q3 FY26, led by a 38.1% increase in the chemical segment. Net profit grew 13.5% to ₹18 crores, although EBITDA margins softened to 8.9% due to doubling sulphur costs. The company remains debt-free with ₹176.75 crores in cash and is expanding its solar capacity to 20.6 MW. Promoters infused ₹30 crores via preferential allotment, signaling long-term confidence.

Q3 FY26 revenue reached ₹249 crores, up 14.6% YoY, while 9M FY26 PAT surged 36% to ₹57 crores.
Chemical segment volumes grew 75.6% YoY, though fertilizer revenue fell 10.6% due to seasonal factors and high input costs.
Gross margins declined to 31.9% from 35.7% YoY as sulphur prices spiked from ~$280 to ~$560 per ton.
Unit 5 expansion is ready for trial production, pending an electricity connection expected in February 2026.
Maintained a strong cash position with ₹176.75 crores in deposits and zero external debt.

💡 Investors should monitor the commissioning of Unit 5 and the trend in sulphur prices, as these will be the primary drivers for near-term margin expansion. The company's debt-free status and promoter funding provide a high safety margin for long-term investors.

Shree Pushkar Chemicals Releases Q3 FY2026 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 12 Feb 2026, 06:53 PM

Shree Pushkar Chemicals & Fertilisers Limited has released the audio recording of its Q3 FY2026 earnings conference call held on February 12, 2026. The recording covers the financial and operational performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a routine regulatory requirement under SEBI LODR guidelines to ensure transparency for all shareholders. Investors can access the full discussion on the company's official website to understand management's perspective on recent results.

Audio recording of Q3 FY2026 earnings call released on February 12, 2026.
Covers financial performance for the quarter and nine months ended December 31, 2025.
Complies with SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.
Recording is accessible via the company's investor relations portal for public review.

💡 Investors should listen to the recording to gain insights into management's outlook on the speciality chemicals and fertiliser segments. Focus on commentary regarding raw material price volatility and capacity utilization levels.

Shree Pushkar Reports 14.6% YoY Revenue Growth in Q3 FY26; PAT Up 13.5% to ₹18.1 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 07:12 PM

Shree Pushkar Chemicals & Fertilisers reported a 14.6% YoY increase in Q3 FY26 revenue to ₹249 Cr, primarily driven by a 38.1% growth in the Chemicals segment. While PAT rose 13.5% to ₹18.1 Cr, EBITDA margins contracted to 8.9% from 10.3% in the previous year's quarter. The company is executing a massive ₹541 Cr capex plan, with Ratnagiri Units 5 and 6 scheduled for commissioning in Q4 FY26. Additionally, the company has expanded its international footprint by incorporating a subsidiary in Bangladesh.

9M FY26 Revenue grew by 29.2% YoY to ₹759 Cr, with PAT increasing 36% to ₹57.2 Cr.
Chemicals segment volume surged 75.6% YoY in Q3 FY26, contributing 63% of total revenue.
Total planned capex of ₹541 Cr to add 4.5 lakh MTPA fertiliser and 72,000 MTPA chemical capacity.
Solar power capacity is being expanded from 9.5 MWDC to 20.6 MWDC for energy self-reliance.
Ratnagiri Unit 5 and Unit 6 expansions are on track for commissioning by the end of Q4 FY26.

💡 Investors should focus on the upcoming commissioning of the Ratnagiri units in Q4 FY26, which is expected to boost volumes. The promoter's continued participation in preferential allotments indicates strong internal confidence in the long-term growth strategy.

Shree Pushkar Q3 FY26 Revenue up 14.6% YoY to ₹248.9 Cr; PAT rises 13.5% to ₹18.1 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 07:10 PM

Shree Pushkar Chemicals & Fertilisers reported a steady Q3 FY26 with consolidated revenue growing 14.6% YoY to ₹248.9 Cr, though EBITDA margins contracted to 8.9% from 10.3% YoY. The Chemical segment performed strongly with a 38.1% revenue jump, effectively offsetting a 10.6% decline in the Fertiliser segment. For the nine-month period (9M FY26), the company showed robust growth with revenue and PAT increasing by 29.2% and 36.0% respectively. Key growth catalysts include the upcoming commissioning of Ratnagiri units in Q4 FY26 and a significant expansion in solar capacity to 20.6 MWDC.

Q3 FY26 Revenue grew 14.6% YoY to ₹248.9 Cr, while PAT increased 13.5% YoY to ₹18.1 Cr.
Chemical segment revenue surged 38.1% YoY to ₹156 Cr, driven by a 75.6% increase in sales volumes.
Fertiliser segment revenue declined 10.6% YoY to ₹93 Cr with volumes falling 23.7% during the quarter.
Ratnagiri Unit 5 and Unit 6 are scheduled for commissioning in Q4 FY26, providing a clear growth roadmap.
Solar power capacity is being expanded from 9.5 MWDC to 20.6 MWDC to improve energy self-reliance and sustainability.

💡 Investors should monitor the successful commissioning of the Ratnagiri units in Q4 FY26 as they are critical for the next phase of growth. While Q3 margins saw some pressure, the strong 9M performance and promoter confidence via preferential allotment suggest long-term stability.

Shree Pushkar Chemicals Reports Zero Deviation in Rs 30 Cr Warrant Issue Fund Utilization

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 11 Feb 2026, 05:54 PM

Shree Pushkar Chemicals & Fertilisers Limited has confirmed that there is no deviation in the utilization of funds raised through its preferential issue of fully convertible warrants. The total issue size is approximately Rs. 30 crore, with Rs. 7.5 crore (25%) received as of December 31, 2025. The proceeds are specifically earmarked for capital expenditure and expansion of its subsidiary, Madhya Bharat Phosphate Private Limited, for complex fertilizers. The remaining 75% of the funds are expected over the next 18 months as warrant holders exercise their conversion options.

Total funds raised through preferential issue of fully convertible warrants is Rs. 29,99,99,870.
Company received Rs. 7,49,99,968 (25% of total) as subscription amount as of December 31, 2025.
Zero deviation or variation reported in the use of funds from the objects stated in the EGM notice.
Funds are designated for CAPEX in subsidiary Madhya Bharat Phosphate for complex fertilizer expansion at Meghnagar.
Balance 75% of the issue size will be received upon conversion of warrants within an 18-month tenure.

💡 Investors should view this as a routine compliance confirmation that the company's expansion plans in the fertilizer segment are proceeding according to the stated objectives. Monitor the timely conversion of the remaining warrants and the progress of the Meghnagar unit expansion.

Shree Pushkar Chemicals Q3 Net Profit Rises 13.5% YoY to ₹18.07 Cr; Revenue Up 14.6%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 11 Feb 2026, 05:41 PM

Shree Pushkar Chemicals & Fertilisers reported a steady Q3 FY26 performance with consolidated revenue growing 14.6% YoY to ₹248.86 crore. Net profit for the quarter increased by 13.5% YoY to ₹18.07 crore, though it remained nearly flat on a sequential basis. The company's nine-month performance is robust, with net profit surging 36% compared to the same period last year. Strategic moves include international expansion into Bangladesh and Iraq, alongside a pending merger of its fertilizer subsidiaries.

Consolidated Revenue for Q3 FY26 increased 14.6% YoY to ₹24,886.02 Lakhs.
Net Profit for the quarter rose 13.5% YoY to ₹1,807.22 Lakhs from ₹1,592.12 Lakhs.
Nine-month FY26 Net Profit grew significantly by 36% YoY to ₹5,723.23 Lakhs.
Allotted 7,36,196 convertible warrants to the Joint MD at a price of ₹407.50 per warrant.
Expanding global footprint with new subsidiaries in Bangladesh and a new branch in Iraq.

💡 The strong nine-month growth and promoter-led warrant allotment at ₹407.50 signal management confidence. Investors should monitor the progress of the subsidiary merger and the scaling of new international operations.

Shree Pushkar Chemicals Schedules Q3 & 9M FY2026 Earnings Call for February 12

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Feb 2026, 12:20 PM

Shree Pushkar Chemicals & Fertilisers Limited has scheduled its earnings conference call for February 12, 2026, at 4:00 PM IST. The call will focus on the company's financial and operational performance for the third quarter and nine-month period of FY2026. Senior management, including the Chairman & Managing Director and the CFO, will be present to address investor queries. This is a standard regulatory procedure following the announcement of quarterly results.

Earnings conference call scheduled for Thursday, February 12, 2026, at 4:00 PM IST.
Management representation includes CMD Mr. Punit Makharia and CFO Mr. Deepak Beriwala.
The call will cover performance updates for Q3 and 9M FY2026 across Dyes, Intermediates, and Fertilisers.
Universal dial-in numbers provided are +91 22 6280 1106 and +91 22 7115 8007.

💡 Investors should monitor the call for management's outlook on the specialty chemicals and fertilizer markets. Key areas to watch include margin trends and updates on any ongoing capacity expansions.

Shree Pushkar Chemicals Reports Zero Demat Requests for Quarter Ended Dec 31, 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jan 2026, 12:03 PM

Shree Pushkar Chemicals & Fertilisers Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Bigshare Services Private Limited, confirms that no dematerialization requests for equity shares were received during the period from October 1, 2025, to December 31, 2025. This is a standard regulatory filing required for all listed companies in India to ensure shareholding records are up to date. The filing has been acknowledged by both the National Stock Exchange and the BSE.

Compliance certificate submitted for the quarter ended December 31, 2025.
Zero dematerialization requests were received by the Registrar during the Q3 FY26 period.
The certificate was issued by Bigshare Services Private Limited, the company's Registrar and Share Transfer Agent.
The filing was formally submitted to the exchanges on January 10, 2026.

💡 This is a routine administrative filing with no impact on the company's fundamentals. Investors should continue to monitor the company's core business performance and upcoming quarterly earnings reports.

Shree Pushkar Allots 7.36 Lakh Convertible Warrants to Promoter at Rs 407.50 Each

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 27 Dec 2025, 01:19 PM

Shree Pushkar Chemicals & Fertilisers has approved the allotment of 7,36,196 fully convertible warrants to its Promoter and Joint Managing Director, Mr. Gautam Gopikishan Makharia. The warrants are issued at a price of Rs. 407.50 per unit on a preferential basis. The company has already received the mandatory 25% upfront subscription amount, totaling approximately Rs. 7.5 crores. This infusion of capital by the promoter signifies strong internal confidence in the company's long-term growth prospects.

Allotment of 7,36,196 fully convertible warrants to Promoter Mr. Gautam Gopikishan Makharia
Issue price set at Rs. 407.50 per warrant, representing a significant capital commitment
Receipt of 25% upfront subscription amount totaling Rs. 7,49,99,968
Warrants are convertible into equity shares of face value Rs. 10 each within the statutory period
Preferential allotment follows approval from members in the EGM held on December 10, 2025

💡 The promoter's decision to increase their stake at Rs. 407.50 per share is a positive signal for long-term investors. Shareholders should monitor the deployment of the remaining 75% of funds for future expansion or debt reduction.

Shree Pushkar Chemicals Trading Window Closure Starts Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Dec 2025, 07:13 PM

Shree Pushkar Chemicals & Fertilisers Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI's Prohibition of Insider Trading Regulations. This closure is for the purpose of declaring the un-audited financial results for the third quarter and nine months ending December 31, 2025. The window will remain closed for all designated persons and their relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced at a later date.

Trading window closure begins on Thursday, January 1, 2026
Closure pertains to the Q3 and nine-month financial results ending December 31, 2025
Window to reopen 48 hours after the official declaration of financial results
Applies to all Designated/Connected Persons as per SEBI PIT Regulations

💡 This is a routine regulatory announcement with no direct impact on stock fundamentals. Investors should monitor the upcoming Q3 results for insights into the company's financial performance.

SHREEPUSHK EGM: Resolutions Passed with Requisite Majority on Dec 10, 2025

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 11 Dec 2025, 07:00 PM

Shree Pushkar Chemicals & Fertilisers Limited held an Extraordinary General Meeting (EGM) on December 10, 2025. Shareholders approved two resolutions, including an increase in authorized share capital and the issuance of warrants to promoters. The resolution to increase authorized share capital passed with 99.9995% of votes in favor. The special resolution for warrant issuance to promoters passed with 99.9756% of votes in favor, with promoters abstaining from voting.

Authorized share capital increase approved with 21,978,489 votes in favor.
Special resolution for warrant issuance passed with 475,339 votes in favor.
Remote e-voting was open from December 5 to December 9, 2025.
Total number of shareholders on record date was 17845.

💡 Investors should note the increase in authorized share capital, which could lead to future equity dilution. Monitor the warrant conversion and its impact on shareholding.

Shree Pushkar Chemicals EGM held on December 10, 2025

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 10 Dec 2025, 07:26 PM

Shree Pushkar Chemicals & Fertilisers Limited held an Extraordinary General Meeting (EGM) on December 10, 2025, at 3:00 p.m. via video conferencing. The meeting concluded at 3:15 p.m. Key agenda items included an increase in the Authorised Share Capital and the issuance of Fully Convertible Warrants to the Promoter on a preferential basis. Members exercised their voting rights electronically, and the results will be announced within 2 working days.

EGM held on December 10, 2025 at 3:00 p.m.
EGM concluded at 3:15 p.m.
Increase in Authorised Share Capital was discussed
Issue of Fully Convertible Warrants to the Promoter on Preferential Basis was discussed

💡 Shareholders should monitor the company's announcements for the voting results and details regarding the increase in authorized share capital and warrant issuance. Review the details of the warrant issuance to the promoter and assess its potential impact on the company's equity.

View All SHREEPUSHK Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In FY25, total revenue reached INR 806.3 Cr, an 11.0% YoY increase. The Chemical segment contributed INR 422.51 Cr (52.4% of revenue) and the Fertilizer segment INR 383.77 Cr (47.6% of revenue). In Q2 FY26, revenue grew 45.2% YoY to INR 255 Cr, with Fertilizers growing 50.6% YoY to INR 124 Cr and Chemicals growing 40% YoY to INR 132 Cr.

Geographic Revenue Split

The company is expanding into the Asia-Pacific and African regions to capture rising demand for specialty chemicals and fertilizers. While specific regional percentages are not disclosed, management noted that the majority of Dye Stuff sales are directed toward export markets rather than domestic consumption.

Profitability Margins

Gross Profit Margin for FY25 was 36.8% (up from 33.8% in FY24). Net Profit Margin improved to 7.27% in FY25 from 5.10% in FY24. For Q2 FY26, the PAT margin stood at 7.1%, reflecting stable profitability despite seasonal moderation in the fertilizer segment.

EBITDA Margin

EBITDA for FY25 was INR 83.9 Cr, a 38.2% YoY increase, with margins improving to 10.4% from 8.4% in FY24. In Q2 FY26, EBITDA was INR 26.2 Cr with a margin of 10.3%, driven by operational efficiency and a favorable product mix.

Capital Expenditure

The company has historically deployed approximately INR 400 Cr into capex. It has announced a new expansion project at Meghnagar (Unit 8) with an investment outlay of INR 350 Cr to add 3 lakh MTPA fertilizer capacity by FY28. Ongoing projects include Unit 5 and Unit 6 at Ratnagiri and 11.1 MW DC of solar capacity.

Credit Rating & Borrowing

The company maintains a strong credit profile with an Interest Coverage Ratio of 41.09x as of March 2025 (up from 10.64x YoY). The Debt-Equity ratio remains low at 0.19, indicating minimal reliance on external debt for its expansion plans.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Rock Phosphate for the fertilizer division and various chemical intermediates for the dyes division. Rock Phosphate procurement is managed through long-term contracts and supplier diversification to mitigate price volatility.

Capacity Expansion

Current expansion includes Unit 5 and Unit 6 at Ratnagiri. Planned expansion at Meghnagar Unit 8 will add 3,00,000 MTPA of fertilizer capacity by FY28. Additionally, 72,000 MTPA of chemical capacity and 11.1 MW DC of solar power are being added to enhance integration and reduce energy costs.

Raw Material Costs

Cost of Materials Consumed was INR 557.4 Cr in FY25, representing approximately 69% of revenue. The company uses proactive procurement and supplier diversification to manage global supply chain disruptions and price volatility.

Manufacturing Efficiency

In Q2 FY26, capacity utilization stood at 65% for the Chemicals segment and 70% for the Fertilizer segment. Operational efficiency is further supported by a motivated workforce of 570 employees.

📈 Strategic Growth

Expected Growth Rate

24%

Growth Strategy

Growth will be achieved through a massive capacity expansion (Unit 5, 6, and 8), targeting a revenue of INR 2,500-3,000 Cr by FY29. The company also incorporated Dyecol Color Technologies Private Limited in September 2025 as a marketing arm to enhance market reach for its Dyes and Dye Intermediates business.

Products & Services

The company sells Dyes, Dye Intermediates, and Fertilizers (including Single Super Phosphate/SSP).

New Products/Services

The company is focusing on specialty chemicals and green fertilizers to align with global sustainability shifts, though specific revenue contribution percentages for new products are not yet detailed.

Market Expansion

Expansion plans target the Asia-Pacific and African regions, where demand for fertilizers and specialty chemicals is projected to rise significantly.

🌍 External Factors

Industry Trends

The industry is shifting toward green agriculture and sustainable manufacturing. Shree Pushkar is positioning itself by investing in solar power and sustainable practices to enhance long-term value.

Competitive Landscape

The company faces competition in the dyes and intermediates market, which can lead to price undercutting and margin compression in export markets.

Competitive Moat

The company's moat is built on 'full integration' (producing intermediates for its own dyes) and a strong balance sheet with high liquidity (INR 162 Cr cash surplus), allowing for self-funded growth without high interest burdens.

Macro Economic Sensitivity

The fertilizer business is highly sensitive to the health of the rural economy and monsoon performance, which directly dictates seasonal demand cycles.

Consumer Behavior

Agricultural demand is shifting toward more sustainable and efficient fertilizer use, prompting the company to focus on green agriculture initiatives.

Geopolitical Risks

Geopolitical conditions are cited as a primary factor for export headwinds in the dye stuff business, which are managed through a stable and integrated business model.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to government policies regarding fertilizer subsidies and nutrient-based pricing structures, which can significantly influence market dynamics and realization levels.

Environmental Compliance

The company is committed to green energy and sustainable practices, including solar investments, to align with global sustainability priorities and regulatory expectations.

Taxation Policy Impact

Total tax expense for FY25 was INR 11.1 Cr on a PBT of INR 69.7 Cr, implying an effective tax rate of approximately 15.9%.

⚠️ Risk Analysis

Key Uncertainties

Key risks include unpredictable rainfall (monsoon) impacting fertilizer demand and changes in government subsidy policies which could affect segment profitability by 10-15% depending on the scale of policy shift.

Geographic Concentration Risk

While expanding, the company currently has a significant concentration of manufacturing facilities in India (Ratnagiri and Meghnagar).

Third Party Dependencies

Dependency exists on suppliers for Rock Phosphate; however, this is mitigated through long-term contracts and diversification.

Technology Obsolescence Risk

The company is mitigating technology risks by leveraging ERP systems for operational oversight and investing in modern, integrated manufacturing units.