Shree Pushkar Chemicals & Fertilisers Q2 Revenue Rises 58.2%

Shree Pushkar Chemicals & Fertilisers Limited reported Q2 FY27 revenue of ₹403.48 crore, up 58.2% from ₹255.09 crore a year earlier, while net profit increased 96% to ₹35.72 crore. The quarterly performance matters because it was accompanied by a ₹70 crore plant-expansion approval and a proposed preferential warrant issue.

What did Shree Pushkar report for Q2 FY27?

Shree Pushkar reported consolidated revenue growth of 58.2% year-on-year for the quarter ended September 30, 2026. Revenue rose to ₹403.48 crore from ₹255.09 crore in Q2 FY26, according to the reported unaudited quarterly figures. The source alert had earlier stated Q2 revenue at ₹4.03 billion, which corresponds broadly to ₹403 crore.

Profitability also improved during the quarter. Net profit rose 96% year-on-year to ₹35.72 crore. EBITDA margin was reported at 12.20%, compared with 10.28% in the corresponding quarter of the preceding year, indicating a 192-basis-point improvement in operating margin.

The company had recorded revenue of ₹280.1 crore in Q1 FY27, up 10.0% year-on-year. The Q2 result therefore represents a higher reported revenue level than the preceding quarter. Q1 FY27 profit after tax was reported at about ₹23 crore, with an EBITDA margin of 11.4%.

What actions did the board approve with the results?

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

The board also considered an increase in authorised share capital and a preferential issue of up to 854,060 fully convertible warrants. The warrants are proposed to be issued to promoter Punit Makharia at ₹526.90 per warrant, according to the company information provided.

In addition, Shree Pushkar declared a dividend of ₹2.10 per equity share. The total dividend amount was stated at ₹679.09 lakh, equivalent to ₹6.79 crore. The dividend and proposed warrant issue are separate board actions, with the warrant proposal subject to the applicable approval process.

The company had notified investors of a board meeting on November 2, 2026, to consider the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, along with potential fund-raising and authorised-capital matters. It also scheduled an analyst and investor conference call for November 3, 2026 at 4:00 PM IST to discuss Q2 and H1 FY27 performance.

How does renewable power capacity support Shree Pushkar's operations?

Shree Pushkar has expanded its consolidated captive solar capacity to 20.6 MW DC following the operationalisation of a 10 MW DC solar power plant at Nanded. This capacity addition forms part of the operational backdrop to the company's recent financial performance.

Captive renewable capacity is relevant for a chemicals and fertilisers business because electricity is an important operating input. The source does not quantify the solar project's savings, contribution to Q2 earnings, or its impact on production costs. However, the reported margin improvement occurred after the additional solar capacity became operational.

The company reported that Q1 FY27 revenue grew despite lower sales volumes across its chemical and fertiliser segments. This makes the Q2 revenue acceleration and margin movement important metrics for investors tracking the balance between realisations, volumes and operating costs. The available information does not provide a segment-wise revenue or volume breakup for Q2 FY27.

What does the Q2 performance mean for investors and operations?

The Q2 FY27 result means Shree Pushkar reported faster revenue and profit growth than in Q1 FY27, alongside a higher operating margin. Revenue increased by ₹148.39 crore from the prior-year quarter, while the EBITDA margin improved to 12.20% from 10.28%.

The ₹70 crore Unit-5 investment introduces a defined expansion programme that is expected to add 3,000 MTPA of chemical capacity once completed. Since the tentative completion date is March 2028, the project remains a medium-term operational initiative rather than an immediate Q2 earnings contributor.

The preferential warrant proposal is also relevant for shareholders because it could result in additional equity issuance if the warrants are converted. The source specifies the number of warrants and issue price but does not provide a post-conversion shareholding structure or the intended use of the proceeds.

No share-price movement, customer impact or analyst forecast was provided in the source material. Investors therefore have reported operating metrics, the capex decision and the planned management call, but not a disclosed market reaction to the Q2 announcement.

How does this compare with Shree Pushkar's FY27 outlook?

Shree Pushkar had earlier indicated FY27 revenue visibility of ₹1,250 crore in August 2026, with a possible range of ₹1,300 crore to ₹1,400 crore. This followed management's February 2026 outlook of ₹1,500 crore for FY27. The August visibility was therefore lower than the earlier outlook.

The reported Q1 and Q2 FY27 revenues together total ₹683.58 crore, based on ₹280.1 crore in Q1 and ₹403.48 crore in Q2. This comparison is based only on the reported quarterly revenue figures and should not be treated as a revised company forecast.

Management's conference call on November 3 is the next disclosed forum for explanations on Q2 performance, H1 FY27 trends, the Unit-5 project and the company's financial outlook. Any update to revenue guidance, funding plans or project timelines would need to come from the company.

Conclusion

Shree Pushkar reported Q2 FY27 revenue of ₹403.48 crore and net profit of ₹35.72 crore, with both metrics showing substantial year-on-year growth. The improvement in EBITDA margin to 12.20%, the ₹2.10 per-share dividend and the ₹70 crore Unit-5 expansion approval place the quarterly result within a broader capital and operating plan.

The next points to watch are management's comments during the November 3, 2026 earnings call, progress on the proposed preferential warrant issue and the stated March 2028 completion target for the 3,000 MTPA Unit-5 chemical plant.