Any current/future new fundraising through debt or equity?

The company has a no-lien deposit facility of Rs. 146.19 crore as of December 31, 2024, providing strong liquidity and financial flexibility. Rs. 146 crore loans and investments are still left for ongoing CAPEX, but Rs. 85 crore has already been invested. The company expects no need to approach banks for additional funding as Rs. 146 crore is available (Page 7). CAPEX is funded through internal accruals; no mention of new equity or external debt fundraising. Management is cautious and prefers conservative financial management without overleveraging. No indication of plans for future fundraisin

Any current/future capex/capital investment/strategic investment?

The company has invested Rs. 84.9 crores in CAPEX during FY2025 (up to December 31, 2024), funded entirely through internal accruals. Ongoing CAPEX work includes expansions at Unit 5 (starting April 2025) and Unit 6 (expected completion around Diwali 2025). Solar power project of 3.8 MW has been completed and started. MVPL-related works are almost completed. A planned caustic soda plant (50 TPD) project producing caustic and chlorine is under consideration but is likely to be scrapped. If scrapped, the company will save approx. Rs. 85 crores from the Rs. 146 crores loan/investment planned. Tri

Future growth expectations in sales/revenue/volumes?

FY25 revenue expected to exceed Rs. 800 crores, with strong Q3 performance of Rs. 586 crores and Rs. 214 crores remaining. FY26 revenue growth target around 25%, aiming for Rs. 1,000 crores driven by expansion projects (Unit 5 starting April 2025, Unit 6 near completion by Diwali 2025). Fertilizer volumes expected to improve with full-year production from new fertilizer plant (approx. 1500 tons capacity). Chemical division has potential to increase utilization by 15-20% from current 50-55%. EBITDA and PAT margins expected to improve gradually, with EBITDA margin hopeful to rise beyond current

Future growth expectations in earnings/operating earnings/profits/EPS?

Revenue growth target for FY26 is around 25%, aiming for approximately Rs. 1,000 crores. PAT margin guidance for FY26 is around 8%-8.5%, up from about 7.5% currently. EBITDA margins have improved to about 10.3% in Q3FY25 with an expectation of further improvement in the coming times, though no exact FY26 margin figure given yet. Conservative guidance is maintained; management prefers to give cautious projections with visibility improving towards the end of Q4FY25. Expansion in Unit 5 starting April 2025 and Unit 6 near completion by Diwali 2025 expected to drive growth. Management co

Current/ Expected Orderbook/ Pending Orders?

The company books orders for 1 to 1.5 months in advance; they do not take longer-term orders beyond this period. As of mid-February 2025, the order book visibility is strong, with bookings made until the end of March 2025. The management sees a clear visibility of around INR 800 crores in revenue by March for Q4 FY25. The company prefers to manage orders on a quarterly basis rather than through long-term contracts, which are not workable due to price fluctuations. The fertilizer and chemical order books for the next 3-4 weeks remain firm and healthy with consistent booking practices.

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Shree Pushkar Chemicals & Fertilizers LtdQ4 FY26Chemicals & Petrochemicals

Shree Pushkar Chemicals & Fertilizers Ltd Q4 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹358P/E: 17.1Market Cap: ₹1.3K CrSector: Chemicals & Petrochemicals

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Order

Capex

Yes

1 of 5 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

→FY25 revenue expected to exceed Rs. 800 crores, with strong Q3 performance of Rs. 586 crores and Rs. 214 crores remaining.
→FY26 revenue growth target around 25%, aiming for Rs. 1,000 crores driven by expansion projects (Unit 5 starting April 2025, Unit 6 near completion by Diwali 2025).
→Fertilizer volumes expected to improve with full-year production from new fertilizer plant (approx. 1500 tons capacity).
→Chemical division has potential to increase utilization by 15-20% from current 50-55%.
→EBITDA and PAT margins expected to improve gradually, with EBITDA margin hopeful to rise beyond current 10.3%, and PAT margins targeting 8-8.5% range.
→Demand is supported by import dynamics, government initiatives (BIS certification), and market conditions such as decreased Chinese imports.
→Ongoing CAPEX investments funded internally to drive capacity and efficiency improvements.

Margin guidance

Category 3

→Revenue growth target for FY26 is around 25%, aiming for approximately Rs. 1,000 crores.
→PAT margin guidance for FY26 is around 8%-8.5%, up from about 7.5% currently.
→EBITDA margins have improved to about 10.3% in Q3FY25 with an expectation of further improvement in the coming times, though no exact FY26 margin figure given yet.
→Conservative guidance is maintained; management prefers to give cautious projections with visibility improving towards the end of Q4FY25.
→Expansion in Unit 5 starting April 2025 and Unit 6 near completion by Diwali 2025 expected to drive growth.
→Management confident about achieving Rs. 800 crores+ revenue in FY25, with strong visibility for further growth.
→Despite recent disruptions (fire shutdown), company expects solid earnings growth supported by capacity ramps and operational efficiencies.

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Fundraise plans

→The company has a no-lien deposit facility of Rs. 146.19 crore as of December 31, 2024, providing strong liquidity and financial flexibility.
→Rs. 146 crore loans and investments are still left for ongoing CAPEX, but Rs. 85 crore has already been invested.
→The company expects no need to approach banks for additional funding as Rs. 146 crore is available (Page 7).
→CAPEX is funded through internal accruals; no mention of new equity or external debt fundraising.
→Management is cautious and prefers conservative financial management without overleveraging.
→No indication of plans for future fundraising through debt or equity in the near term.

Order book

→The company books orders for 1 to 1.5 months in advance; they do not take longer-term orders beyond this period.
→As of mid-February 2025, the order book visibility is strong, with bookings made until the end of March 2025.
→The management sees a clear visibility of around INR 800 crores in revenue by March for Q4 FY25.
→The company prefers to manage orders on a quarterly basis rather than through long-term contracts, which are not workable due to price fluctuations.
→The fertilizer and chemical order books for the next 3-4 weeks remain firm and healthy with consistent booking practices.

Capex plans

Yes

→The company has invested Rs. 84.9 crores in CAPEX during FY2025 (up to December 31, 2024), funded entirely through internal accruals.
→Ongoing CAPEX work includes expansions at Unit 5 (starting April 2025) and Unit 6 (expected completion around Diwali 2025).
→Solar power project of 3.8 MW has been completed and started.
→MVPL-related works are almost completed.
→A planned caustic soda plant (50 TPD) project producing caustic and chlorine is under consideration but is likely to be scrapped.
→If scrapped, the company will save approx. Rs. 85 crores from the Rs. 146 crores loan/investment planned.
→Trial production for current expansions expected by Diwali 2025, commercial production by December 2025.
→Strategic move includes approval of merger of two wholly-owned subsidiaries to optimize operations and resources.

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