Krishana Phoschem Limited has released the transcript of its Q3 FY26 Earnings Conference Call, which was held on January 13, 2026, at 4:00 PM IST. The call featured insights from Promoter Director Mr. Pankaj Ostwal and Group Financial Advisor Mr. Pukhraj Kanther.

During the call, management highlighted a record-breaking quarterly performance driven by strategic initiatives and increased capacity utilization. The company benefited from a favorable agricultural landscape in India, including increased Rabi sowing, healthy reservoir levels, and supportive government policies like the Nutrient Based Subsidy (NBS) rates and the "Mission for Aatmanirbharta in Pulses." Industry trends indicate a shift from traditional DAP use towards balanced NPK and SSP blends, an opportunity Krishana Phoschem aims to capitalize on.

Financially, for Q3 FY26, Revenue from Operations reached ₹659.11 crore, a significant increase from ₹304.03 crore in Q3 FY25. EBITDA rose by 58.4% year-on-year to ₹70.1 crore. While overall operating margins compressed to 10.64% from 14.56%, margins within the integrated production line expanded to 14-15%. The highest ever PAT grew by 62.3% YoY to ₹33.3 crore, with EPS hitting an all-time high of ₹5.39.

For the nine-month period of FY26, Revenue was a record ₹1,663 crore (up 88%), EBITDA was ₹209 crore (up 65%), PAT doubled to ₹97 crore (up 80.8%), and EPS doubled to ₹15.7 (up 81%).

Key operational highlights include the highest-ever fertilizer production volumes of 1,13,155 MT, with NPK/DAP operations at 98% utilization and the SSP plant at 107% utilization.

The company's 50% expansion of its NPK/DAP capacity at Meghnagar is on track for commissioning by March 2026, expected to add ₹1,000 crore in revenue potential, with an initial target of 60% utilization in the first year.

Discussions also covered raw material costs, particularly the increase in sulfur and sulfuric acid prices, and the company's strategy to maintain EBITDA margins of 14-15% through pricing adjustments and operational efficiencies. The proportion of trading revenue was ₹245 crore versus manufacturing revenue of ₹413 crore for the quarter, with margin compression primarily attributed to trading activities.

Future outlook remains robust, with the company confident in its operational and financial execution. The company is exploring the possibility of listing on the BSE, although it is not currently under discussion at the board level. Shareholder approval for the issuance of debentures CTC was obtained in the AGM, but currently, no additional capital is required.