Fertilizers industry
29 companies · ₹1.8 L cr · 7 with AI deep dives · Q1FY27 report
Geopolitical raw-material shock exhausts inventory buffers and outpaces NBS relief, flagging Q2 margin reset
- Revenue YoY
- +17.5%
- EBITDA margin
- 9.4%
- -20bps YoY
- Price, 1 year
- -24.6%
- 25% of names up
- P/E vs own 5y
- -4.4%
- 13.8x now
Exhibit 1The quarter in numbers
constant panel of 15 companies above ₹500 cr- Jun 26
- 35,925 cr
- Mar 26
- 30,573 cr
- QoQ
- +17.5%
- Jun 25
- 30,563 cr
- YoY
- +17.5%
- Peak
- 44,178 cr
- vs peak
- -18.7%
- Jun 26
- 9.4%
- Mar 26
- 7.1%
- QoQ
- +230bps
- Jun 25
- 9.6%
- YoY
- -20bps
- Peak
- 9.8%
- vs peak
- -40bps
Breadth: 80% of 15 companies grew revenue year on year (was 80% a quarter earlier) and 40% expanded margin (was 47%).
Exhibit 2What it costs
9.26x - 20.59x across the panel todayThe median name trades at 13.8x, -4.4% against this industry's own 5-year median of 14.4x, and -42.4% against its own peak of 24.0x.
Exhibit 3Structure
₹1.8 L crCoromandel International Ltd is 31% of this industry by market cap. The top 5 are 81.6% and the top 10 are 95.7%.
Exhibit 4Screen
P/E below the sub-industry median of 13.82x, 5y ROCE above its median of 15.26%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 29)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹57,086 cr
- P/E
- 31.1x
- EV/EBITDA
- 16.6x
- ROCE
- 21.1%
- Margin
- 10.4%
- Rev YoY
- +15.9%
- Mcap
- ₹50,436 cr
- P/E
- -
- EV/EBITDA
- 221.7x
- ROCE
- 19.2%
- Margin
- 2.6%
- Rev YoY
- +20.2%
- Mcap
- ₹16,833 cr
- P/E
- 8.7x
- EV/EBITDA
- 6.4x
- ROCE
- 20.7%
- Margin
- 13.4%
- Rev YoY
- -11.8%
- Mcap
- ₹7,006 cr
- P/E
- 45.2x
- EV/EBITDA
- 32.3x
- ROCE
- 19.7%
- Margin
- 13.5%
- Rev YoY
- +1.6%
- Mcap
- ₹6,224 cr
- P/E
- 9.0x
- EV/EBITDA
- 5.9x
- ROCE
- 6.6%
- Margin
- 9.5%
- Rev YoY
- +64.0%
- Mcap
- ₹6,146 cr
- P/E
- 13.8x
- EV/EBITDA
- 8.6x
- ROCE
- 12.1%
- Margin
- 6.4%
- Rev YoY
- +6.4%
- Mcap
- ₹3,638 cr
- P/E
- 22.6x
- EV/EBITDA
- 12.2x
- ROCE
- 19.7%
- Margin
- 10.6%
- Rev YoY
- +5.9%
- Mcap
- ₹1,438 cr
- P/E
- -
- EV/EBITDA
- -93.2x
- ROCE
- -11.4%
- Margin
- -8.8%
- Rev YoY
- -
- Mcap
- ₹1,403 cr
- P/E
- 6.8x
- EV/EBITDA
- 5.9x
- ROCE
- 19.9%
- Margin
- 11.9%
- Rev YoY
- +8.7%
- Mcap
- ₹523 cr
- P/E
- 9.7x
- EV/EBITDA
- 7.0x
- ROCE
- 30.3%
- Margin
- 10.8%
- Rev YoY
- -5.7%
- Mcap
- ₹180 cr
- P/E
- 22.1x
- EV/EBITDA
- 10.9x
- ROCE
- 14.0%
- Margin
- 13.0%
- Rev YoY
- +31.7%
- Mcap
- ₹118 cr
- P/E
- -
- EV/EBITDA
- -
- ROCE
- 0.0%
- Margin
- -3.8%
- Rev YoY
- -100.0%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Every reporting company cited the Strait of Hormuz and Red Sea disruptions as the primary driver of input cost inflation in Q1 FY27. Sulphur surged from ~₹65,000-70,000/tonne in…
- COROMANDEL (Q1FY27): “Phosphoric acid prices for Q2 has been settled at $1,700 as compared to $1,360 prevailed…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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