Paradeep Phosphates Ltd (NSE: PARADEEP) achieved record nine-month revenue of ₹17,124 crore, supported by significant growth in value-added NPK and TSP fertilizer segments. Strategic expansions in phosphoric acid production aim to achieve 100% backward integration across all manufacturing facilities to enhance earnings quality.
The company released its unaudited financial results for the quarter and nine months ended December 31, 2025, showing strong operational and financial growth. Profit After Tax for the nine-month period rose by 71% year-on-year to reach ₹841 crore.
Latest Quarterly Results and Highlights
For the third quarter of FY26, revenue from operations reached ₹5,749 crore, representing a 15% increase compared to the same period last year. EBITDA for the quarter stood at ₹503 crore, a 5% year-on-year growth. Profit Before Tax was ₹233 crore, while Profit After Tax was reported at ₹182 crore. Operational production volumes for the quarter rose 13% to 10.00 lakh tonnes.
Nine-Month Performance and Growth
Context Revenue for the first nine months of FY26 increased by 34% to ₹17,124 crore. EBITDA for this period rose 45% to ₹1,817 crore. Total sales volumes reached 33.66 lakh tonnes, a 16.9% increase over the previous year. Growth was primarily driven by value-added products. NPK sales grew by 30% to 17.51 lakh tonnes, and TSP sales increased by 107% to 2.43 lakh tonnes.
Company Profile and Business Model
Paradeep Phosphates Ltd is one of the largest private-sector phosphatic fertilizer producers in India. The company operates manufacturing facilities in Paradeep (Odisha), Goa, and Mangalore with a total annual capacity of 3.7 million MT. Its product portfolio includes DAP, various NPK grades, and Urea marketed under the brands Jai Kisaan Navratna and Jai Kisaan Mangala. The business serves more than 12 million farmers across 18 states through a network of 100,000 retailers.
Strategic Progress and Segment Updates
The company is currently expanding its Phosphoric Acid capacity at the Paradeep facility from 0.5 MMTPA to 0.7 MMTPA. This project is intended to supply phosphoric acid to the Goa and Mangalore plants to reach 100% backward integration across all sites. Management is also pursuing debottlenecking at the Paradeep site to increase granulation capacity from 1.8 MMTPA to 2 MMTPA. A recent credit rating upgrade to AA is expected to optimize the cost of capital for these capital expenditure projects.
Guidance and Future Outlook
Future growth strategies focus on operational excellence, product innovation, and disciplined execution. The company aims to mitigate global volatility in raw material pricing and currency fluctuations through supply chain efficiencies and sourcing agility. Digital interventions are being utilized to optimize last-mile delivery and help farmers achieve balanced fertilization.
Future Outlook and Broader Industry Trends
The outlook for the Indian fertilizer industry remains positive, with the market projected to reach Rs. 1.38 lakh crore by 2032, growing at a CAGR of 4.2%. Global trends indicate easing supply for potash and increasing phosphoric acid capacity, which benefits importing nations like India. PPL is also positioning itself for the future through Nano fertilizers and a strong focus on ESG, where it currently ranks in the top 2% globally within the chemical sector.
Where Does Paradeep Phosphates Ltd Stand Today?
The company maintains a strong market position with robust logistics and a focus on ESG-driven growth. The transition toward full backward integration in phosphoric acid is expected to significantly improve the quality of earnings per ton. Despite global market volatility, the company has maintained consistent margins through operational agility.