Chambal Fertilisers & Chemicals Ltd(CHAMBLFERT)

NSE: CHAMBLFERTBSE: 500085

₹ 365.3-2.33%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 14,636 crNext results: 3 Nov 2026Website: www.chambalfertilisers.comUpdated: 24 Oct 2026

About

Chambal Fertilisers & Chemicals Ltd manufactures urea at its three-unit Gadepan complex in Rajasthan and trades phosphatic and potassic fertilisers, crop protection chemicals, specialty nutrients and seeds across India. In FY26 the company reported standalone revenue of INR 20,794 crore across three segments. It holds a stake in IMACID, a phosphoric acid joint venture in Morocco with OCP.^[1]

Business segments

Own Manufactured Fertilisers (urea): Rs 12,565.61 Cr revenue, 60.4% share in FY26.^[2]
Complex Fertilisers (traded): Rs 7,025.14 Cr revenue, 33.8% share in FY26.^[2]
Crop Protection Chemicals, Speciality Nutrients and Seeds: Rs 1,202.91 Cr revenue, 5.8% share in FY26.^[2]

Products and brands

Urea is the flagship manufactured product; complex fertilisers portfolio covers DAP, TSP and NPK sourced across diversified geographies.^[1]
Speciality nutrients are marketed under the 'Uttam' brand umbrella; crop protection chemicals are sold under the company's own brands (FY25).^[3]
CPC/SN portfolio spans herbicides, fungicides and insecticides; 17 new products launched in FY26; 7 more new CPC products launched in Q1 FY27.^[1]
Biologicals include Uttam Pranaam (Bio Nano Phosphorus) and Uttam Superrhiza, together covering 3 million acres since launch; biologicals revenues grew 57% YoY in FY26.^[1]
Ammonium sulphate grade introduced in Q1 FY27, expanding the complex fertiliser offering.^[4]
Seeds portfolio (hybrid mustard, maize, bajra, research-variety wheat); seeds revenue was INR 8 crore in H1 FY26.^[5]

Operations

Three urea plants at Gadepan, Rajasthan (G1, G2, G3). In Q1 FY27, G1 produced ~96,000 MT, G2 ~1.85 lakh MT and G3 ~3.29 lakh MT.^[4]
The FY25 annual report says the energy efficiency of its urea plants continued to be one of the best in the industry.^[3]
Natural gas, priced mostly in line with international crude, is the main urea raw material; FY25 gas exposure was Rs 9,898.23 Cr, unhedged.^[3]
IMACID JV (with OCP and Tata Chemicals, 33.33% each, Morocco): current P2O5 capacity 5 lakh MTPA; sulphuric acid capacity expansion also underway.^[1][3]
CFCL-TERI Centre of Excellence: 5 patented novel products targeted for FY2028-29 and a second tranche of 5 for FY2030-31.^[4]

Key operating numbers

Urea sales volume: 34.06 lakh MT in FY26 (-2% YoY); 6.72 lakh MT in Q1 FY27.^[1]
Urea production in Q1 FY27: 6.45 lakh MT, impacted by simultaneous planned shutdowns of G1 and G2.^[4]
Complex fertiliser sales volume: 12.31 lakh MT in FY26, up from 5.64 lakh MT in FY25; 2.42 lakh MT NPK in Q1 FY27.^[1]
Gas price: USD 17.25/MMBTU (NCV basis) in Q1 FY27, vs ~USD 15/MMBTU in Q2 FY26.^[4]
Subsidy received: INR 2,480 crore in Q1 FY27 vs INR 2,512 crore in Q1 FY26; total receivables INR 3,300 crore as of Q1 FY27.^[4]
Complex fertiliser segment EBIT rose 67% YoY to ~INR 239 crore in Q1 FY27, on advance procurement of 8.5 lakh tons at lower input costs.^[4]
CPC/SN/Seeds EBIT margin: ~25% in Q1 FY27; 23.5% for full FY26.^[4][2]

Customers and distribution

All of the company's customers are located in India (FY25).^[3]
Chambal Uttam Krishak Mitra app (launched ~Q2 FY26) reached 80,000-90,000 subscribers at launch, with a target of 3-5 lakh.^[5]
CPC channel market-width target 25% (~INR 10,500 crore addressable) and market-depth target 17% (~INR 1,750 crore) set for FY27.^[6]

Expansion and capex

Fourth urea plant (brownfield, ~1.3 MMTPA): cost INR 9,500-10,000 crore; bids from LSTK/EPC vendors expected by mid-October 2026; commissioning targeted within 2030.^[4]
TAN plant (2,40,000 MTPA, with 2,10,000 MTPA WNA) at Gadepan built by L&T; full marketing mix targeted by end-December 2026; Phase-2 expansion being evaluated.^[3][4]
IMACID P2O5 capacity expansion from 5 to 7 lakh MTPA now targeted April-June 2027 (revised from December 2026).^[4]
Overseas phosphatic manufacturing JV under engagement to supply granulated material to India; no timeline committed.^[4]
FY27 total capex guided at ~INR 500 crore, including routine maintenance capex of INR 170-180 crore.^[1]

Recent developments

17 Oct 2026: acquired 26% of Clean Max Hachi Pvt Ltd for Rs 6 Crore, a captive 5 MW hybrid wind-solar power project in Rajasthan.^[7]
CRISIL re-affirmed AA+/Positive for long-term and A1+ for short-term bank facilities as of 24 September 2026.^[8]
IMACID lost INR 25.1 crore in Q1 FY27 vs a profit of INR 36.1 crore in Q1 FY26 after a sulphur-shortage shutdown; production resumed July 2026.^[4]
CCEA approved the National Investment Policy for Urea 2026 (NIPU-2026) during Q1 FY27.^[4]

Market Cap

₹14,636 Cr

High / Low

₹500 / 359

Stock P/E

7.6

Price / Book

1.4

Book Value

₹260

EPS

₹48.8

No. of Shares

40.07 Cr

ROCE

25.5%

ROE

20.4%

OPM

11.7%

Debt / Equity

0.10

Sales

₹20,794 Cr

Net Profit

₹1,953 Cr

Promoter holding

61.3%

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Chambal Fertilisers & Chemicals Ltd(CHAMBLFERT)

About

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Products and brands

Operations

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

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