Punjab Chemicals & Crop Protection Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,182 Cr
- P/E
- 17.67
- ROE
- 16.59%
- PEG
- 8.27
- Price to sales
- 1.13
- Debt to equity
- 0.36
- 52W high / low
- ₹1,493 / ₹893
- Sales growth (5Y)
- 8.71%
- EBITDA margin
- 11.74%
- Net profit margin
- 6.35%
- Promoter holding
- 39.24%
- Sales (last year)
- ₹1,058 Cr
Incorporated in 1975, Punjab Chemicals & Crop Protection Ltd is in the business of Performance Chemicals[1]
Guidance scorecard · Q1 FY27 call
What Punjab Chemicals & Crop Protection Ltd's management guided
and where it ranks in Fertilizers & Agrochemicals
Fertilizers & Agrochemicals
RevenueQ1 FY27 call
10–20%- Targeted revenue growth of 15%-20% for FY27, with a stronger H2 expected than H1.
- Q1 saw 8.7% year-on-year revenue growth; exports grew 27.7% while domestic declined marginally by 3.1%.
- New products are expected to contribute 15%-18% of revenue in FY27, growing over time towards 20%+.
- Increased focus on new product commercialization—4 to 5 products expected to launch yearly, with some adding INR40-50 crores each over 3-4 years.
- Expansion in capacity (e.g., new manufacturing block at Lalru and pilot plant revamp) to support growth.
- Growing CDMO business with advanced discussions expected to add 2-3 new customers on multi-year contracts.
2 more points from Punjab Chemicals & Crop Protection Ltd's call on revenue
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MarginsQ1 FY27 call
Up 2%+See what Punjab Chemicals & Crop Protection Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Greenfield capex is planned to start in FY27 as a clear goal for long-term growth across agro and specialty chemicals.
- New manufacturing block at the Lalru plant is under construction; civil work has commenced, with major investment in Q2 and Q3 FY27.
- A revamp of the pilot plant is underway, targeting completion by September-October 2026, to increase capacity for simultaneous scale-up of multiple products.
- Expansion of R&D facilities has doubled in size over the last 2 years, enhancing product scale-up and development pipeline.
2 more points from Punjab Chemicals & Crop Protection Ltd's call on capex
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FundraisingQ1 FY27 call
See what Punjab Chemicals & Crop Protection Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- The order book for the year provides reasonable visibility on existing businesses.
- For Q1, Q2, and part of Q3, there is clear visibility of achieving volumes as per original predictions.
- Management mentioned a strong order position moving forward for Q2 and Q3.
- While a precise breakup between new products and legacy products in the order book wasn't provided, new products are targeted to contribute 15% to 18% of revenue in FY27.
- Several commercial lot supplies have been made for MoU products, with volume ramp-up expected from Q4 FY27.
2 more points from Punjab Chemicals & Crop Protection Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Fertilizers & Agrochemicals
on management's own guidance
- Dharmaj CropGood growth2
- Anya Polytech &Good growth1
- M B Agro Prod.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Fertilizers & Agrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Anya Polytech & | 20–40% | Up 2%+ | ₹209 Cr | 25.1 |
| 2 | Dharmaj Crop | 20–40% | Up 0–2% | ₹882 Cr | 14.7 |
| 3 | M B Agro Prod. | 20–40% | Flat | ₹7,668 Cr | 49.5 |
| 4 | 20–40% | Flat | ₹6,453 Cr | 32.8 | |
| 5 | Punjab ChemicalsThis stock | 10–20% | Up 2%+ | ₹1,226 Cr | 18.3 |
| 6 | 10–20% | Flat | ₹51,882 Cr | 27.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Fertilizers & Agrochemicals rankingFinancials of Punjab Chemicals & Crop Protection Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Punjab Chemicals & Crop Protection Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 195 | 281 | 242 | 214 | 197 | 242 | 242 | 214 | 202 | 320 | 255 | 247 | 209 |
| Expenses + | 174 | 244 | 207 | 188 | 183 | 215 | 217 | 195 | 177 | 285 | 229 | 217 | 181 |
| Operating Profit | 21 | 38 | 35 | 26 | 13 | 28 | 26 | 19 | 26 | 34 | 26 | 30 | 28 |
| OPM % | 11% | 13% | 15% | 12% | 7% | 11% | 11% | 9% | 13% | 11% | 10% | 12% | 13% |
| Other Income + | 1 | 0 | 2 | 1 | 0 | 1 | 2 | 0 | -4 | 4 | 6 | -0 | 2 |
| Interest | 7 | 4 | 7 | 7 | 4 | 4 | 5 | 4 | 5 | 4 | 4 | 4 | 5 |
| Depreciation | 5 | 5 | 6 | 5 | 6 | 6 | 6 | 7 | 7 | 6 | 7 | 7 | 9 |
| Profit before tax | 10 | 29 | 25 | 15 | 4 | 18 | 17 | 8 | 10 | 28 | 22 | 19 | 16 |
| Tax % | 69% | 26% | 27% | 27% | 32% | 26% | 25% | 28% | 32% | 25% | 15% | 26% | 32% |
| Net Profit + | 3 | 22 | 18 | 11 | 2 | 13 | 12 | 6 | 7 | 21 | 19 | 14 | 11 |
| EPS in Rs | 2.61 | 17.83 | 14.78 | 9.13 | 1.97 | 10.96 | 10.09 | 4.95 | 5.75 | 16.82 | 15.12 | 11.26 | 8.95 |
Financials of Punjab Chemicals & Crop Protection Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 564 | 537 | 525 | 493 | 643 | 550 | 678 | 933 | 1,006 | 934 | 901 | 1,030 |
| Expenses + | 517 | 497 | 509 | 450 | 576 | 507 | 583 | 793 | 883 | 821 | 801 | 912 |
| Operating Profit | 47 | 41 | 16 | 44 | 67 | 42 | 96 | 140 | 123 | 113 | 99 | 118 |
| OPM % | 8% | 8% | 3% | 9% | 10% | 8% | 14% | 15% | 12% | 12% | 11% | 11% |
| Other Income + | 21 | 40 | 12 | 12 | -2 | 13 | 2 | 1 | 3 | 3 | -3 | 12 |
| Interest | 35 | 50 | 31 | 18 | 17 | 18 | 13 | 12 | 18 | 21 | 18 | 17 |
| Depreciation | 19 | 17 | 16 | 14 | 19 | 15 | 15 | 17 | 19 | 22 | 25 | 29 |
| Profit before tax | 14 | 14 | -19 | 24 | 29 | 22 | 69 | 112 | 89 | 73 | 54 | 84 |
| Tax % | 4% | 4% | 4% | 29% | 42% | 51% | 29% | 25% | 31% | 27% | 27% | 24% |
| Net Profit + | 14 | 13 | -20 | 17 | 17 | 11 | 49 | 83 | 61 | 54 | 39 | 64 |
| EPS in Rs | 11.58 | 10.83 | -16.25 | 14.01 | 13.70 | 8.77 | 40.03 | 68.06 | 49.83 | 43.70 | 31.75 | 52.16 |
| Dividend Payout % | 0% | 0% | 0% | 11% | 11% | 17% | 5% | 4% | 6% | 7% | 9% | 6% |
Financials of Punjab Chemicals & Crop Protection Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | -47 | 49 | 46 | 62 | 79 | 85 | 132 | 213 | 268 | 318 | 352 | 411 |
| Borrowings + | 321 | 191 | 151 | 117 | 91 | 99 | 88 | 93 | 94 | 123 | 168 | 154 |
| Other Liabilities + | 196 | 205 | 229 | 165 | 189 | 197 | 219 | 238 | 241 | 187 | 268 | 245 |
| Total Liabilities | 482 | 457 | 439 | 356 | 371 | 394 | 451 | 557 | 616 | 640 | 801 | 823 |
| Fixed Assets + | 232 | 235 | 224 | 177 | 180 | 168 | 189 | 212 | 222 | 236 | 253 | 276 |
| CWIP | 7 | 4 | 6 | 4 | 7 | 15 | 16 | 7 | 20 | 12 | 14 | 17 |
| Investments | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 8 | 4 | 2 |
| Other Assets + | 243 | 219 | 207 | 174 | 184 | 210 | 245 | 337 | 372 | 384 | 529 | 528 |
| Total Assets | 482 | 457 | 439 | 356 | 371 | 394 | 451 | 557 | 616 | 640 | 801 | 823 |
Financials of Punjab Chemicals & Crop Protection Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 57 | 105 | 62 | 61 | 68 | 34 | 45 | 34 | 58 | 30 | 25 | 86 |
| Cash from Investing Activity + | -0 | 28 | -5 | -18 | -20 | -15 | -9 | -27 | -38 | -36 | -31 | -44 |
| Cash from Financing Activity + | -72 | -141 | -61 | -43 | -4 | -19 | -26 | -11 | -20 | 4 | 12 | -44 |
| Net Cash Flow | -14 | -8 | -4 | 1 | 45 | 1 | 10 | -3 | 0 | -2 | 7 | -2 |
| Free Cash Flow | 54 | 114 | 48 | 41 | 42 | 9 | 17 | 2 | 22 | -1 | -8 | 40 |
| CFO/OP | 126% | 260% | 401% | 143% | 111% | 91% | 61% | 38% | 76% | 50% | 36% | 91% |
Financials of Punjab Chemicals & Crop Protection Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 48 | 52 | 44 | 31 | 36 | 32 | 43 | 44 | 52 | 77 | 95 | 72 |
| Inventory Days | 95 | 78 | 85 | 83 | 75 | 97 | 91 | 99 | 97 | 85 | 151 | 145 |
| Days Payable | 78 | 76 | 148 | 133 | 103 | 100 | 102 | 85 | 80 | 75 | 136 | 102 |
| Cash Conversion Cycle | 64 | 54 | -19 | -19 | 7 | 28 | 32 | 58 | 69 | 86 | 110 | 115 |
| Working Capital Days | -88 | -37 | -83 | -45 | -43 | -24 | 3 | 24 | 38 | 49 | 63 | 56 |
| ROCE % | 13% | 14% | 5% | 20% | 29% | 17% | 38% | 45% | 31% | 22% | 15% | 19% |
Guidance history
How Punjab Chemicals & Crop Protection Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 2%+ | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Up 2%+ | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
10 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −33.2% | 19% |
| Last 6 months | −18.1% | 22% |
| Last 3 months | −19.9% | 17% |
The price is 46.1% below its all-time high of ₹1,791.95 (9 Sept 2021). Stocks more than 20% below their peak have their score halved, so 19 became 10.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Punjab Chemicals & Crop Protection Ltd: 0.4 × 19 + 0.4 × 22 + 0.2 × 17 = 19, halved to 10 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Punjab Chemicals & Crop Protection Ltd's management said in earlier quarters
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