M B Agro Prod.
M B Agro Prod. Q2 FY26 Results & Concall Highlights: Capex ₹400 Cr
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
H2 FY '26 is expected to have revenue similar to H1 FY '26 (~₹860 crore), not at the same high growth rate but maintaining production capacity utilization. H1 FY26 PAT increased by 132% YoY to ₹59 crore, with EPS doubling to ₹6.7, reflecting strong profitability.
From M B Agro Prod.'s Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- H2 FY '26 is expected to have revenue similar to H1 FY '26 (~₹860 crore), not at the same high growth rate but maintaining production capacity utilization.
- Total fertilizer production capacity will more than double to approximately 1.2 million tons by September 2026 due to expansions at Sagar (March ’26) and Dhule (September ’26).
- Strong sales growth expected from NPK fertilizers, which contribute higher EBITDA per ton (~₹6,000) compared to SSP (~₹1,800).
- SSP and NPK volumes sold in H1 FY '26 were 1,18,418 MT and 1,16,288 MT respectively, with strong demand projected to continue.
- Post capacity expansions, strong performance and volume growth anticipated over the coming years.
- New capacities expected to start contributing fully from FY '27, potentially increasing production and sales volume by about 150%.
- Prices for SSP and NPK expected to be stable or slightly increase in H2 FY '26.
Profitability & Margins
See what M B Agro Prod. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- **Current CAPEX for FY '26:** Approximately ₹400 crore, focusing on ongoing capacity expansions.
- **Total CAPEX for Sagar and Dhule projects:** Around ₹700 crore in fixed assets; ₹200 crore already spent, ₹200 crore expected by March 2026, balance in first half of FY '27.
- **Funding:** Combination of debt (around ₹430 crore in term loans with most sanctions in place) and internal accruals.
- **Expansion projects:**
- - **Sagar (Madhya Pradesh):** Capacity expansion of 90,000 MTPA DAP/NPK and 1,65,000 MTPA sulfuric acid, to be commissioned by March 2026.
- - **Dhule (Maharashtra):** Integrated plant with 3,30,000 MTPA DAP/NPK capacity starting September 2026.
- **Strategic Investment:** Selected as preferred buyer for 1,30,000 MTPA Green Ammonia under SECI's SIGHT Scheme for 10 years, supporting sustainability and raw material security.
Top-ranked in Fertilizers & Agrochemicals
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what M B Agro Prod. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The transcript does not explicitly mention the current or expected order book or pending orders for Madhya Bharat Agro Products Limited.
- However, it indicates strong demand in the market driven by improved monsoon, increased water reservoir levels, MSP hikes, and supportive policy environment for the upcoming Rabi season.
- The company reported record fertilizer production and sales volumes, with robust operational performance.
- Expansion projects at Sagar and Dhule are progressing well, expected to increase capacity significantly from FY '26 onwards.
- The company expects steady sales and operational capacity utilization continuing into H2 FY '26 and beyond.
- Demand for NPK products is strong, with expected sustained volumes.
- No direct figures on order book or pending orders were disclosed in the provided transcript.
M B Agro Prod. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹395 Cr, net profit ₹60 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Madhya Bharat Agro Products Ltd's management said in earlier quarters
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Frequently Asked Questions
What were M B Agro Prod. Q2 FY26 results?
H2 FY '26 is expected to have revenue similar to H1 FY '26 (~₹860 crore), not at the same high growth rate but maintaining production capacity utilization. H1 FY26 PAT increased by 132% YoY to ₹59 crore, with EPS doubling to ₹6.7, reflecting strong profitability.
What is M B Agro Prod. share price analysis?
M B Agro Prod. currently shows a neutral. The stock trades at a P/E of 47.6 with a market cap of ₹7,381 Cr. Investors should review the full earnings analysis for detailed insights.
Is M B Agro Prod. planning capital expenditure?
Current CAPEX for FY '26:** Approximately ₹400 crore, focusing on ongoing capacity expansions.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.