Paradeep Phosphates LimitedQ2 FY27 Results & Financial Update
Paradeep Phosphates Limited: Q2 FY27 consolidated results and company financials – revenue ₹7,364.06 Cr, PAT ₹121.01 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Paradeep Phosphates Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Paradeep Phosphates Limited posted consolidated revenue from operations of Rs. 7,364.06 crores for the quarter ended September 30, 2026, marking a 20.24% sequential expansion compared to Rs. 6,124.25 crores in the preceding quarter ended June 30, 2026.
Despite the top-line growth, consolidated profit after tax (PAT) for Q2 FY27 contracted to Rs. 121.01 crores, representing a 69.17% sequential decline from Rs. 392.54 crores reported in Q1 FY27, largely driven by cost pressures and inventory adjustments.
Profit before tax (PBT) stood at Rs. 164.17 crores for the September 2026 quarter, down 68.80% sequentially from Rs. 526.16 crores in the first quarter of the fiscal year.
Total income for the quarter reached Rs. 7,381.81 crores, moving higher from Rs. 6,145.82 crores recorded in the previous quarter.
Basic and diluted earnings per share (EPS) for the quarter settled at Rs. 1.16 each, compared to Rs. 3.78 for the quarter ended June 30, 2026.
The financial statements reflect the finalization of the purchase price allocation under Ind AS 103 regarding the business combination with Mangalore Chemicals and Fertilizers Limited (MCFL), with the measurement period expiring during the quarter without requiring adjustments to provisional fair values.
01 · Business model
What does Paradeep Phosphates do?
Paradeep Phosphates Limited operates within the fertilisers and other trading materials sector, manufacturing and distributing complex nitrogen-phosphorus-potassium (NPK) fertilisers and phosphatic soil nutrients.
The company's primary economic engine relies on domestic production and distribution of phosphatic fertilizers, supported by strategic plant infrastructure and imported raw materials.
Operations span manufacturing facilities and supply chains designed to serve agricultural markets across India, operating under seasonal agricultural demand cycles governed by Kharif and Rabi cropping seasons.
02 · Historical context
What shaped the business before this quarter
Following the Government of India's notification of four Labour Codes in November 2025, the company reassessed its gratuity and leave liabilities in the preceding quarter (Q1 FY27) and recognized the financial impact as an exceptional item.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹7,364.06 Cr | ₹6,124.25 Cr |
| Total income | ₹7,381.81 Cr | ₹6,145.82 Cr |
| Profit before tax | ₹164.17 Cr | ₹526.16 Cr |
| Profit after tax | ₹121.01 Cr | ₹392.54 Cr |
| EPS | ₹1.16 | ₹3.78 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 1.6% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 2.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹17.75 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations increased by 20.24% sequentially to Rs. 7,364.06 crores in Q2 FY27 from Rs. 6,124.25 crores in Q1 FY27, reflecting higher seasonal business activity.
In the absence of a notified Rabi Subsidy notification from the Department of Fertilizers, the company recognized subsidy income in accordance with the existing Kharif subsidy notification and prescribed terms.
What drove margins
The company recognized an inventory write-down of Rs. 59.98 crores during the quarter ended September 30, 2026, after assessing the net realizable value of inventories in accordance with Ind AS 2.
Finance costs stood at Rs. 158.02 crores for Q2 FY27, increasing from Rs. 131.70 crores recorded in the previous quarter.
Depreciation and amortization expenses rose to Rs. 109.01 crores for the quarter, compared to Rs. 105.68 crores in Q1 FY27.
Total tax expense for the quarter decreased to Rs. 43.16 crores, comprising current tax of Rs. 34.51 crores, deferred tax charge of Rs. 8.64 crores, and negligible prior period adjustments, down from Rs. 133.62 crores in the preceding quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's operations fall within a single business segment, 'Fertilisers and Other Trading Materials', resulting in no separate segment disclosures.
06 · Pressure points & risks
What is not going smoothly
A write-down of Rs. 59.98 crores was recorded during the quarter for inventories whose carrying value exceeded their net realizable value.
07 · Items worth noticing
The line items that can distort a quick read
An inventory write-down of Rs. 59.98 crores was recognized during Q2 FY27 for inventory items exceeding net realizable value.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor Review Report
Statutory auditors B S R & Co. LLP issued an unmodified limited review report on both the standalone and consolidated unaudited financial results for the quarter ended September 30, 2026.
09 · Previous-quarter changes
What changed since the previous quarter
Consolidated PAT declined from Rs. 392.54 crores in Q1 FY27 to Rs. 121.01 crores in Q2 FY27, even as revenue grew from Rs. 6,124.25 crores to Rs. 7,364.06 crores.
10 · Key Q&A
The quarter, answered directly
What does Paradeep Phosphates do?
Paradeep Phosphates Limited operates within the fertilisers and other trading materials sector, manufacturing and distributing complex nitrogen-phosphorus-potassium (NPK) fertilisers and phosphatic soil nutrients.
What is the clearest takeaway from Q2 FY27?
Paradeep Phosphates Limited posted consolidated revenue from operations of Rs. 7,364.06 crores for the quarter ended September 30, 2026, marking a 20.24% sequential expansion compared to Rs. 6,124.25 crores in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Revenue from operations increased by 20.24% sequentially to Rs. 7,364.06 crores in Q2 FY27 from Rs. 6,124.25 crores in Q1 FY27, reflecting higher seasonal business activity.
What mattered most for margins or profitability?
The company recognized an inventory write-down of Rs. 59.98 crores during the quarter ended September 30, 2026, after assessing the net realizable value of inventories in accordance with Ind AS 2.
What changed operationally beyond the headline numbers?
Statutory auditors B S R & Co. LLP issued an unmodified limited review report on both the standalone and consolidated unaudited financial results for the quarter ended September 30, 2026.
What are the main pressure points disclosed for the quarter?
A write-down of Rs. 59.98 crores was recorded during the quarter for inventories whose carrying value exceeded their net realizable value.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Rabi Subsidy Notification: Future subsidy income accounting adjustments following the official release of the Rabi Subsidy notification by the Department of Fertilizers.
- 02
Inventory Realization Trends: Subsequent movements in net realizable values of inventory and raw material price volatility.
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Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.