Shree Pushkar Chemicals & Fertilisers Q2 Revenue Rises 58.2%

Shree Pushkar Chemicals & Fertilisers Limited reported Q2 FY27 revenue of ₹403.48 crore, a 58.2% year-on-year increase from ₹255.09 crore, while net profit rose 96% to ₹35.72 crore for the quarter ended September 30, 2026. The result is significant because it coincided with wider operating margins and new capital-expansion and funding approvals.

What did Shree Pushkar report for Q2 FY27?

Shree Pushkar reported consolidated revenue of ₹403.48 crore in Q2 FY27, compared with ₹255.09 crore in Q2 FY26. The reported revenue figure is equivalent to about ₹4.03 billion, matching the figure in the source alert. The company said revenue growth supported a substantial improvement in quarterly profitability.

Consolidated net profit increased 96% year on year to ₹35.72 crore. EBITDA margin rose to 12.20% from 10.28% in the corresponding quarter a year earlier, an expansion of 192 basis points. The source also reported consolidated EBITDA of ₹492 crore, compared with ₹262 crore a year earlier. This EBITDA amount should be read alongside the reported revenue and margin figures, as the source did not provide a reconciliation for the stated amounts.

How does the quarter compare with recent performance?

The Q2 result followed a positive Q1 FY27, when Shree Pushkar reported revenue from operations of ₹280.10 crore, up 10.0% year on year. Q1 net profit was ₹22.9 crore, up 9.4% from the prior-year period, while the operating margin was reported at 11.4%.

Management had said after the June-quarter results that sales volumes had been lower across both chemical and fertiliser segments because of raw-material cost and supply volatility. It expected volumes to recover in Q2 and beyond. The September-quarter revenue and profit figures indicate a stronger reported performance than the prior-year Q2, although the source does not provide segment-wise revenue, volume, or realisation data for Q2 FY27.

What expansion and financing decisions accompanied the results?

Shree Pushkar's board approved ₹70 crore of capital expenditure for an expansion at Unit-5 in MIDC Lote Parshuram, Maharashtra. The plan covers a new chemical plant with capacity of 3,000 metric tonnes per annum. The project is tentatively scheduled for completion by March 2028.

The board also approved a preferential issue of up to 854,060 fully convertible warrants to Punit Gopikishan Makharia, the Chairman and Managing Director, at ₹526.90 per warrant. The proposed issue aggregates to about ₹45 crore. In connection with this proposal, authorised share capital was increased to ₹34 crore from ₹33.50 crore.

The company had separately expanded its captive renewable-energy base in August 2026. It commissioned a 10 MW DC solar power plant at Nanded, Maharashtra, taking consolidated solar capacity to 20.6 MW DC. The source links the capacity addition to Shree Pushkar's recent operational expansion, but does not quantify its financial contribution to the Q2 result.

What should investors assess after the Q2 FY27 update?

Investors will assess the quality of profit conversion and the funding implications of the approved expansion. While net profit nearly doubled and the EBITDA margin improved, operating cash flow in H1 FY27 was negative ₹53.33 crore, compared with positive operating cash flow of ₹32.90 crore in H1 FY26. The source does not state the reasons for this movement in cash flow.

The dividend declaration is another relevant shareholder item. Shree Pushkar declared a dividend of ₹2.10 per equity share during the quarter, amounting to ₹6.79 crore. The company also scheduled an analyst and investor conference call for November 3, 2026, at 4:00 PM IST, where management is expected to discuss Q2 and H1 FY27 performance.

For the broader chemicals and fertilisers business, the reported quarter follows a period in which the company cited raw-material and supply volatility. The new Unit-5 project, the warrant proposal and the additional solar capacity show that Shree Pushkar is pursuing both manufacturing expansion and captive-power additions. Their eventual financial effect will depend on project execution, operating conditions and the company disclosures that follow.

Conclusion

Shree Pushkar delivered reported Q2 FY27 revenue of ₹403.48 crore, up 58.2% year on year, alongside a 96% rise in net profit to ₹35.72 crore and a higher EBITDA margin. The figures point to a materially stronger quarter than the same period a year earlier, while negative H1 operating cash flow remains an important counterpoint in evaluating the overall financial position.

The next scheduled disclosure is the November 3, 2026 earnings call, when management may provide further detail on segment volumes, cash-flow movement and the Q2 performance. Investors will also watch progress on the ₹70 crore Unit-5 project, which is tentatively targeted for completion by March 2028, and developments related to the proposed ₹45 crore warrant issue.