CHAMBLFERT · Chemicals
Chambal Fertilizers & Chemicals Ltd. reported revenue of ₹4,918 cr for October to December 2024, +13.1% on the year and +13.2% on the quarter.
Operating profit (EBITDA) was ₹778 cr, a margin of 15.8%, +138 bps on the year and −236 bps on the quarter. Over the last 7 quarters the margin has ranged from 6.3% to 18.2%, averaging 13.2%. Operating costs grew +11.3% against revenue growth of +13.1%, so more of each rupee of sales reached operating profit.
Net profit was ₹534 cr, +16.3% on the year and −0.4% on the quarter, with earnings per share of ₹13.34. Profit before other income, one-offs and tax grew faster, at +34.1%; other income, one-offs or tax held the headline back. The tax rate of 32% is in line with its recent average.
Speciality chemicals are read on volumes and pricing, with Chinese supply a recurring swing factor; inventory destocking can hit a quarter without a change in demand. The quarterly statements do not carry volumes against prices, capacity utilisation and new molecules; those come with the filing read.
On earnings per share of ₹40.34 over the last four quarters, the stock at ₹388.55 trades at 9.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Reported profit +16.3% on the year; profit before other income, exceptional items and tax +34.1%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹5,386 cr | ₹4,349 cr | ₹2,643 cr | ₹4,933 cr | ₹4,346 cr | ₹4,918 cr | ₹2,449 cr | ₹5,698 cr | ₹6,413 cr | ₹5,898 cr | ₹2,785 cr | ₹5,027 cr |
| YoY | — | — | — | −12% | −19% | +13% | −7% | +16% | +48% | +20% | +14% | −12% |
| EBITDA margin | 11.4% | 14.4% | 6.3% | 15.2% | 18.2% | 15.8% | 6.7% | 13.4% | 13.1% | 13.9% | 9.2% | 16.4% |
| Other income, % of PBT | 15% | 23% | 58% | 12% | 10% | 12% | 51% | 10% | 10% | 5% | 25% | 4% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 34% | 31% | 23% | 37% | 32% | 32% | 22% | 27% | 23% | 24% | 21% | 30% |
| Net profit | ₹381 cr | ₹459 cr | ₹97.0 cr | ₹448 cr | ₹536 cr | ₹534 cr | ₹130 cr | ₹549 cr | ₹649 cr | ₹586 cr | ₹169 cr | ₹524 cr |
| YoY | — | — | — | +32% | +41% | +16% | +34% | +23% | +21% | +10% | +30% | −5% |
| Core profit YoY | — | — | — | +25% | +44% | +34% | +55% | +7% | +7% | +6% | +98% | +7% |
| EPS | ₹9.15 | ₹11.04 | ₹2.42 | ₹11.19 | ₹13.39 | ₹13.34 | ₹3.25 | ₹13.70 | ₹16.19 | ₹14.64 | ₹4.22 | ₹13.07 |
| Flags | · | · | 2 | ✓ | ✓ | ✓ | 1 | 1 | 1 | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Chambal Fertilizers & Chemicals Ltd. reported revenue of ₹4,918 cr (+13.1% on the year) and net profit of ₹534 cr (+16.3% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved +34.1% on the year, against +16.3% for reported profit.
None of the 7 checks that could run raised a question.
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