Gujarat State Fertilizers & Chemicals Records All-Time High Sales in Q1 FY 2026-27
Gujarat State Fertilizers and Chemicals Limited (GSFC) reported strong financial performance for the first quarter of fiscal year 2026-27, achieving record high sales across its operations. The company announced that total Q1 sales reached Rs. 3,581 Cr., while Fertilizer segment sales stood at an all-time high of Rs. 2,947 Cr.The Board of Directors approved the results today, noting that Industrial Products segment sales registered Rs. 635 Cr., marking the second highest performance for any Q1 to date. Profit After Tax (PAT) saw a year-on-year increase of 15%, reaching Rs. 161 Cr.
Fertilizers Segment Performance and Cost Headwinds
The fertilizers segment demonstrated robust operating results, with sales increasing by 82% from Rs. 1,619 Cr. to Rs. 2,947 Cr. Concurrently, sales volumes grew by 17%, rising from 4.51 LMT to 5.26 LMT on a year-on-year basis.This growth was attributed to the increased volume of Manufactured and Traded DAP sales, supported by the Government's DAP Special Package aimed at mitigating international price variations. However, the segment faced significant cost pressures due to rising raw material prices globally. Sulphur prices rose by 231%, Ammonia by 144%, Natural Gas by 38%, and P₂O₅ by 30% on a year-on-year basis. Consequently, the Fertilizers segment reported an EBIT margin of 4.09%, compared to 8.49% in Q1 of the previous year.
Industrial Products Segment Growth Driven by Spread Rise
The Industrial Products segment recorded a strong performance, with sales rising by 15% from Rs. 553 Cr. to Rs. 635 Cr. EBIT saw a sharp increase, climbing from Rs. 25 Cr. to Rs. 116 Cr. on a year-on-year basis. This improved profitability was primarily supported by higher sales of Caprolactam and the significant rise in the Capro-Benzene spread, which moved from $540 per MT to $816 per MT.Operational Resilience and Capex Roadmap
The company maintained uninterrupted operations throughout the quarter despite global geopolitical uncertainty and evolving supply dynamics. Agility in product mix, combined with timely pricing actions and responsive production planning, allowed GSFC to navigate sharp movements in key raw material prices and effectively protect margins across its business segments.GSFC is continuing to advance its strategic growth roadmap through planned capital expenditure (capex). The company has outlined several ongoing projects at the Sikka Unit.
| Ongoing Projects | Q2 26-27 | Q3 26-27 | Q4 26-27 | FY 27-28 | FY 28-29 |
|---|---|---|---|---|---|
| C - Train Modification for APS Production at Sikka Unit | 1200 MTPD APS | ||||
| Phosphoric Acid (PA) and Sulphuric Acid (SA) Project at Sikka | 198 KTPA PA & 594 KTPA SA | 198 KTPA PA & 594 KTPA SA | 198 KTPA PA & 594 KTPA SA | 198 KTPA PA & 594 KTPA SA | 198 KTPA PA & 594 KTPA SA |
Financial and Volume Performance Highlights
The company's financial performance across key periods is detailed below:| Particulars | FY 25-26 (Q1) | FY 25-26 (Q4) | FY 26-27 (Q1) |
|---|---|---|---|
| Operating Revenue | 2,172 Rs Crores | 2,622 Rs Crores | 3,581 Rs Crores |
| Total Revenue | 2,212 Rs Crores | 2,657 Rs Crores | 3,615 Rs Crores |
| Operating EBITDA | 201 Rs Crores | 70 Rs Crores | 238 Rs Crores |
| PBT | 186 Rs Crores | 48 Rs Crores | 207 Rs Crores |
| PAT | 140 Rs Crores | 34 Rs Crores | 161 Rs Crores |
| EPS (Rs/Share) | 3.51 | 0.86 | 4.04 |
The annual volume performance for the relevant quarters is as follows:
| Product | Q-1 2025-26 Production (LMT) | Q-1 2025-26 Sales (LMT) | Q-4 2025-26 Production (LMT) | Q-4 2025-26 Sales (LMT) | Q-1 2026-27 Production (LMT) | Q-1 2026-27 Sales (LMT) |
|---|---|---|---|---|---|---|
| UREA | 0.42 | 0.29 | 1.00 | 0.96 | 1.02 | 0.96 |
| A. S. | 1.38 | 1.33 | 1.22 | 1.26 | 1.15 | 0.96 |
| A.P.S. | 1.79 | 1.80 | 1.73 | 1.83 | 1.12 | 1.01 |
| DAP | 0.27 | 0.20 | 0.33 | 0.38 | 0.92 | 0.60 |
| MANUFACTURED (Total) | 3.90 | 3.64 | 4.27 | 4.43 | 4.21 | 3.53 |
| TRADED P&K FERT | - | 0.36 | - | 0.00 | - | 1.31 |
| TRADED UREA | - | 0.51 | - | 1.02 | - | 0.42 |
| TOTAL | - | 4.51 | - | 5.44 | - | 5.26 |
Key input costs, including Sulphur and Ammonia, as well as the Capro-Benzene spread (in US$ per MT), were also reported in line with the company's operating metrics.
GSFC Stock Price Movement
Shares of Gujarat State Fertilizers & Chemicals Limited slipped on Wednesday to close at ₹160.69, having shed 0.58% from the previous trading session's closing price. The stock saw significant market activity, with 905,558 shares traded during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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