M B Agro Prod.
M B Agro Prod. Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Phase-I Dhule facility partially commissioned; full Phase-I capacity expected by October 2026. - Phase-I expansions along with Sagar unit expansion expected to deliver ~100% revenue growth over current baseline. - A further phase of expansion planned by October 2027, providing an additional ~25% revenue upside. - Overall capacity to increase from 9 lakh MT p.a. FY26 reported strong performance: Profit after tax ₹150 crore (up 161% YoY), EPS ₹17.14.
From M B Agro Prod.'s Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Phase-I Dhule facility partially commissioned; full Phase-I capacity expected by October 2026.
- Phase-I expansions along with Sagar unit expansion expected to deliver ~100% revenue growth over current baseline.
- A further phase of expansion planned by October 2027, providing an additional ~25% revenue upside.
- Overall capacity to increase from 9 lakh MT p.a. to 1.56 million MT p.a., targeting becoming India's third-largest private-sector phosphatic fertilizer company.
- SSP fertilizer plant already commissioned (March FY26), with sales commencing soon.
- DAP-NPK plant operational by October 2026.
- FY27 utilization expected at 50–60% of added capacity, rising to 75–80% in following year.
- FY28 growth over FY26 base could exceed 200%.
- Revenue projection of approximately ₹4,000 crore by FY28.
- Sustainable EBITDA per ton targeted (₹6,000 for NPK in FY27).
Profitability & Margins
See what M B Agro Prod. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Total project cost for Dhule platform Phase-I and Phase-II is ₹675 crores, with ₹460 crores already spent; balance to be incurred in 3-4 months.
- Dhule DAP/NPK facility commissioning targeted before October 2026; Phase-II expansion planned by October 2027.
- Ongoing expansions expected to double revenue over the current baseline, followed by an additional 25% upside post next phase.
- Dhule project fully funded with financial closure achieved; funding through internal accruals and term loans.
- Further capacity expansion under evaluation, with details expected around October-November 2026.
- No capex involved in green ammonia supply agreement; green ammonia project developed by a third party, with supply starting in April 2029.
- Strategic investments include backward integration (phosphoric acid, sulphuric acid capacities) and green ammonia procurement for long-term input security and sustainability.
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
- Madhya Bharat Agro Products Limited has tied up for approximately 130,000 tons of green ammonia through a 10-year contract with SECI (a government agency).
- The company is among participants in contracts totaling around 700,000 metric tons awarded in the industry.
- Within the Ostwal Group, MBAPL holds the largest allocation with 200,000 metric tons per annum, split between Madhya Bharat Agro and another group company, Krishana Phoschem.
- The supply arrangement for green ammonia is expected to commence around April 2029.
- These offtake agreements do not require MBAPL to make capex for green ammonia projects, as the projects will be developed by other players.
- The contracts have ensured long-term input security aligned with sustainability and cost-optimization goals.
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. Q4 FY26 results?
Phase-I Dhule facility partially commissioned; full Phase-I capacity expected by October 2026. - Phase-I expansions along with Sagar unit expansion expected to deliver ~100% revenue growth over current baseline. - A further phase of expansion planned by October 2027, providing an additional ~25% revenue upside. - Overall capacity to increase from 9 lakh MT p.a. FY26 reported strong performance: Profit after tax ₹150 crore (up 161% YoY), EPS ₹17.14.
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?
Total project cost for Dhule platform Phase-I and Phase-II is ₹675 crores, with ₹460 crores already spent; balance to be incurred in 3-4 months.
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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.