Rama Phosphates profit rises 11% on 20% revenue growth

Rama Phosphates Limited reported unaudited profit of Rs 19.17 crore for the quarter ended September 30, 2026, 11% above Rs 17.28 crore a year earlier, as revenue from operations increased 20% to Rs 295.51 crore. Profit before tax rose to Rs 26.24 crore, despite finance cost increasing to Rs 3.92 crore.

How did Rama Phosphates perform in the September 2026 quarter?

Rama Phosphates increased both operating revenue and profit in the quarter ended September 30, 2026. Revenue from operations rose by Rs 49.86 crore to Rs 295.51 crore from Rs 245.66 crore in the quarter ended September 2025, while total income increased to Rs 295.74 crore from Rs 245.93 crore. Other income declined to Rs 22.78 lakh from Rs 27.22 lakh.

Rama Phosphates reported profit before tax of Rs 26.24 crore, compared with Rs 22.90 crore a year earlier. Tax expense rose to Rs 7.07 crore from Rs 5.61 crore, leaving profit for the period at Rs 19.17 crore against Rs 17.28 crore. Basic and diluted earnings per share, which are not annualised, increased to Rs 5.42 from Rs 4.88 on equity shares with a face value of Rs 5 each.

What changed in Rama Phosphates’ costs during the quarter?

Rama Phosphates’ total expenses increased to Rs 269.50 crore in the September 2026 quarter from Rs 223.03 crore in the corresponding quarter of 2025. The Rs 46.47 crore increase in expenses was below the Rs 49.86 crore increase in operating revenue, resulting in profit before tax rising by Rs 3.34 crore to Rs 26.24 crore.

Material consumption was Rs 188.41 crore, compared with Rs 129.09 crore a year earlier, while purchases of stock-in-trade rose to Rs 12.70 crore from Rs 3.23 crore. Inventory changes were an expense of Rs 16.49 crore against Rs 28.84 crore, and other expenses declined to Rs 37.54 crore from Rs 48.76 crore. Employee benefits decreased to Rs 8.64 crore from Rs 8.90 crore and depreciation and amortisation fell to Rs 1.81 crore from Rs 2 crore.

Why did finance cost rise at Rama Phosphates?

Rama Phosphates’ finance cost rose to Rs 3.92 crore in the quarter ended September 30, 2026, from Rs 2.21 crore in the prior-year quarter. The results filing does not specify the reason for this increase, but it reports higher borrowings at the September 2026 balance-sheet date than at March 31, 2026.

Non-current borrowings stood at Rs 20.26 crore at September 30, 2026, compared with Rs 5.48 crore at March 31, 2026, while current borrowings were Rs 167.42 crore against Rs 131.73 crore. Total liabilities were Rs 329.53 crore, up from Rs 296.75 crore, and total equity increased to Rs 458.31 crore from Rs 422.47 crore over the same six-month period.

Which business segment generated Rama Phosphates’ earnings?

Rama Phosphates’ Fertilizers, Micro Nutrients & Chemicals segment generated Rs 294.27 crore of revenue in the September 2026 quarter, compared with Rs 245.61 crore a year earlier. Its segment profit before interest and tax was Rs 32.58 crore, up from Rs 27.64 crore. The company states that the segment includes non-subsidised fertilisers.

The Soya/Agri segment reported revenue of Rs 1.25 crore, compared with Rs 4.93 lakh in the September 2025 quarter, but recorded a segment loss before interest and tax of Rs 27.76 lakh. That loss narrowed from Rs 37.98 lakh a year earlier. Combined segment profit was Rs 32.30 crore, after which finance cost of Rs 3.92 crore and net other unallocable expenses of Rs 2.14 crore resulted in profit before tax of Rs 26.24 crore.

What do Rama Phosphates’ half-year figures and assets show?

Rama Phosphates reported revenue from operations of Rs 520.31 crore for the half year ended September 30, 2026, compared with Rs 435.97 crore in the corresponding half year of 2025. Profit for the period increased to Rs 36.23 crore from Rs 33.41 crore, while profit before tax rose to Rs 49.05 crore from Rs 44.36 crore. Half-year basic and diluted earnings per share were Rs 10.24, compared with Rs 9.42.

Total assets were Rs 787.84 crore at September 30, 2026, compared with Rs 719.22 crore at March 31, 2026. Capital work in progress increased to Rs 69.48 crore from Rs 47.53 crore, and government subsidies receivable rose to Rs 158.08 crore from Rs 139.13 crore. The financial results were reviewed by the audit committee and taken on record by the board on November 13, 2026, following a limited review by the statutory auditor.

What has Rama Phosphates disclosed about its SSP facility and dividend?

Rama Phosphates commenced trial production of Single Super Phosphate, or SSP, fertiliser on November 11, 2026, under Phase I of its greenfield manufacturing facility at the MIDC Industrial Area in Nardana, Dhule, Maharashtra. The company said its aggregate SSP production capacity is now 9.14 lakh metric tonnes per annum following the commencement of operations at the new facility.

Rama Phosphates expects full-scale commercial production at Nardana shortly after receiving requisite approvals from statutory authorities, and said activities under Phase II have started. The filing does not disclose a Phase II capacity, investment amount or completion date. The board also recommended an interim dividend of Rs 0.50 per equity share, equal to 10% of the Rs 5 face value, and the company disclosed a long-term ICRA credit rating of A-.

Conclusion

Rama Phosphates’ September-quarter results show that Rs 49.86 crore of additional operating revenue was accompanied by a Rs 1.89 crore increase in profit for the period. The Fertilizers, Micro Nutrients & Chemicals segment supplied Rs 294.27 crore of revenue and Rs 32.58 crore of profit before interest and tax, while Soya/Agri remained loss-making by Rs 27.76 lakh.

The next disclosed operating event is full-scale commercial production at the Nardana SSP facility after statutory approvals are obtained. Rama Phosphates has also begun Phase II activities, but the November 13, 2026 filing gives no timetable, cost or capacity for that phase; the implementation of the recommended Rs 0.50-per-share interim dividend is another disclosed item to watch.