Shree Pushkar Q1 FY27: consolidated PAT +9% YoY, margins hold above 8-10% guided band
PAT +9.4% YoY · revenue +10.04% · margins flat
₹280.07 Cr
+10.04% YoY
₹22.93 Cr
+9.4% YoY
8.05%
-0.1pp YoY
₹7.09
On a consolidated basis (primary), Shree Pushkar posted revenue of ₹280.07 Cr, up 10.0% YoY (₹254.51 Cr in Q1 FY26) and PAT of ₹22.93 Cr, up 9.4% YoY (₹20.96 Cr). Standalone revenue was ₹157.41 Cr with PAT of ₹12.12 Cr — the gap versus consolidated reflects the contribution of subsidiaries Kisan Phosphates, Madhya Bharat Phosphate and the Dyecol units. Sequentially, revenue rose 28.4% and PAT jumped 78.2% over Q4 FY26 (₹218.17 Cr revenue, ₹12.87 Cr PAT), but Q4 was a seasonally soft base for this chemicals/fertiliser business, so the QoQ jump reads as a bounce-back rather than a step-up in run-rate.
Q1 FY-2027 vs prior quarters
Margins were essentially flat YoY: net margin was 8.05% of total income versus 8.12% a year ago, and operating margin (EBITDA/revenue) was approximately 11.4% versus 11.44% a year ago — growth flowed through the cost base roughly proportionately, with cost of materials consumed tracking at about 69% of revenue, in line with both comparison quarters. There were no exceptional items on either side of the YoY comparison.
The stock went into the print at ₹403, down 0.6% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters.
What the summary numbers don't show
Basic EPS ₹7.09 (consolidated) vs ₹6.48 a year ago and ₹3.98 last quarter.
No exceptional items — a ₹3.44 lakh prior-year tax credit in the consolidated tax line is immaterial.
Management anticipates a revenue range of Rs. 1,250-1,300 crores for FY27, a downward revision from previous estimates of Rs. 1,500 crores, primarily due to foregoing the Kharif season for new capacity. They are not factoring in improved market prices into this revised forecast, suggesting a potential upside. Profitabi
— This quarter: beat
Management's May 2026 (Q4 FY26) concall cut FY27 revenue guidance to ₹1,250-1,300 Cr (from ₹1,500 Cr) citing the loss of the Kharif season for new capacity, while targeting an 8-10% EBITDA margin. This quarter's ~11.4% margin sits above the top of that band — an early beat on the profitability commitment. On revenue, however, one quarter of ₹280 Cr against the ₹1,250-1,300 Cr full-year guide (10% YoY quarterly growth versus the ~28-33% YoY growth the guided range implies for the full year) is too early to call a beat or miss; hitting the top line guide would require the back-half acceleration management already flagged for the new capacity. No street/consensus estimates for this quarter turned up in a search, consistent with thin analyst coverage of this small-cap, so the vs-street read is marked unknown rather than guessed.
W1
FY27 revenue pace against the guided ₹1,250-1,300 Cr — Q1 at ₹280.07 Cr consolidated implies back-half acceleration is still needed.
W2
EBITDA margin sustainability at/above the 8-10% guided band (currently ~11.4%) as new capacity ramps.
W3
Progress on the Kisan Phosphates–Madhya Bharat Phosphate amalgamation scheme, pending before the NCLT Mumbai bench.
Clean typed table, both statements reconcile exactly (total income and PAT tie out to the last decimal); no exceptional items — only an immaterial ₹3.44 lakh prior-year tax credit in the consolidated tax line; no management press release/commentary was available separately from the filing.