An established force in the Indian agricultural landscape, headquartered in Bhubaneswar, Odisha, has just released its audited financial results for the quarter and full year ended March 31, 2026.
This company operates within the Fertilizers and Other Trading Materials sector, managing large-scale operations that include the production and distribution of various crop nutrients. Having listed its shares on the BSE and NSE in 2022, the entity has grown its footprint significantly, recently completing a major merger to consolidate its position in the industry. The company in question is Paradeep Phosphates Limited.
As we look into the latest filings, we find a year marked by substantial corporate restructuring and a notable increase in its top-line performance.
We note that the company underwent a significant transformation during the 2025-26 fiscal period. A Composite Scheme of Arrangement between Paradeep Phosphates Limited (the Transferee) and Mangalore Chemicals & Fertilizers Limited (the Transferor) was approved by the National Company Law Tribunal (NCLT) in September 2025. Although the legal filings were completed in October 2025, the company has given effect to this merger from a retrospective “appointed date” of April 1, 2024.
Consequently, the financial figures for the previous year (FY 2024-25) have been restated to include the results of the merged entity, ensuring a like-for-like comparison.
Additionally, on September 30, 2025, the company completed the acquisition of a part of the business of Zuari Agro Chemicals Limited, specifically a granulated single super phosphate plant in Mahad, Maharashtra, on a slump sale basis.
Standalone Financial Performance for Q4 FY26
In the final quarter of the 2025-26 fiscal year, the company reported a Revenue from Operations of ₹4,701.97 crore. When we compare this to the preceding quarter (Q3 FY26), which saw revenues of ₹5,748.67 crore, there is a Quarter-on-Quarter (QoQ) absolute decrease of ₹1,046.70 crore, representing a 18.21% decline.
However, on a Year-on-Year (YoY) basis, the revenue grew from ₹4,193.96 crore in Q4 FY25 to the current ₹4,701.97 crore. This is an absolute increase of ₹508.01 crore, or 12.11%.
The Net Profit for the quarter ended March 31, 2026, stood at ₹155.60 crore. This reflects a QoQ decrease of ₹26.45 crore (14.53%) from the ₹182.05 crore recorded in the December 2025 quarter. Compared to the restated profit of ₹172.19 crore in the same quarter last year, the YoY profit decreased by ₹16.59 crore (9.63%).
Also Read – This agrochemical giant has just declared a 300% dividend
Full Year Comparison: FY 2025-26 vs FY 2024-25
Looking at the full-year performance, the scale of the merged operations becomes evident. For the financial year ended March 31, 2026, the company achieved a total Revenue from Operations of ₹21,826.34 crore. Compared to the restated revenue of ₹16,958.65 crore for the previous financial year, this marks an absolute increase of ₹4,867.69 crore, a growth of 28.70%.
The Profit After Tax (PAT) for the full year reached ₹996.84 crore, up from ₹662.85 crore in the prior year. This represents an absolute increase of ₹333.99 crore, or a 50.39% growth in annual earnings.
| Metric (Standalone) | FY 2025-26 (Audited) | FY 2024-25 (Restated) | % Change |
| Revenue from Operations | ₹21,826.34 crore | ₹16,958.65 crore | +28.70% |
| Total Expenses | ₹20,605.05 crore | ₹16,195.10 crore | +27.23% |
| Profit Before Tax | ₹1,328.45 crore | ₹911.59 crore | +45.73% |
| Profit After Tax | ₹996.84 crore | ₹662.85 crore | +50.39% |
Understanding the Balance Sheet and Cash Flows
The company’s total assets climbed to ₹17,935.92 crore as of March 31, 2026, compared to ₹14,268.77 crore at the end of the previous year. A significant portion of this growth is attributed to Inventories, which rose to ₹4,626.70 crore, and Trade Receivables (money owed to the company by customers), which stood at ₹4,790.49 crore.
On the liabilities side, Total Borrowings (both current and non-current) increased to approximately ₹6,872.33 crore. The company reported a net cash used in operating activities of ₹1,011.86 crore, largely influenced by the increase in working capital requirements like inventories and receivables.
Dividend Declaration and Board Decisions
During the meeting held on May 11, 2026, the Board of Directors of Paradeep Phosphates Limited recommended a dividend of ₹1.50 per equity share of face value ₹10 each for the financial year 2025-26. This dividend is subject to the approval of shareholders at the upcoming Annual General Meeting.
Furthermore, the Board approved the re-appointment of Mrs. Rita Menon as an Independent Director for a second term of three years, effective from June 27, 2026.
Consolidated Performance and Associate Interests
On a consolidated basis – which includes the company’s share in its associate, Zuari Yoma Agri Solutions Limited – the annual Revenue from Operations was ₹21,826.14 crore. The consolidated Profit After Tax for the year was ₹996.35 crore, slightly adjusted for a share of loss from the associate amounting to ₹0.49 crore. The consolidated Earnings Per Share (EPS) for the full year stood at ₹9.60 (Basic).
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