The call ran from 1:01 PM to 1:29 PM IST (28 min).
Key takeaways
GSFC delivered record Q2 revenue, but profitability collapsed as massive raw material price hikes severely compressed fertilizer margins.
| Revenue growth | 49% YoY Q2 revenue growth; 55% growth for H1 FY27. |
|---|---|
| Margins | Fertilizer margins severely compressed; Industrial products segment showed healthy expansion. |
| Demand visibility | Subdued Southwest Monsoon and low reservoir levels likely to constrain demand. |
| Management confidence | Optimistic about H2 recovery pending government subsidy revisions. |
Growth
Revenue grew 49% YoY, driven by higher DAP realizations despite a 6% decline in sales volumes.
Outlook
Investing ₹3,000 Cr in a 33-month phosphoric acid project to secure 50% captive consumption.
Risks
Fertilizer EBIT plummeted to ₹17Cr from ₹224Cr due to surging sulfur and gas costs.
Last quarter's promises, checked
Delivered
- Guided zero LT debt → delivered zero LT debt (= BEAT)
- Guided IP spread stable/soft → delivered IP sales +30% YoY (= BEAT)
Partly delivered
- Guided APS line in 'a month or two' → delivered commissioned 23 Oct (= PARTIAL)
- Guided Sikka acid disclosure in ~3 mo → delivered ₹3,000Cr phos acid only (= PARTIAL)
Missed
- Guided DAP/urea fully covered → delivered fert EBIT ₹17Cr vs ₹224Cr (= MISS)
- Guided >22LMT FY27, strong Q2 demand → delivered Q2 volume -6% YoY (= MISS)
- Guided NPK subsidy hike from 1 Oct → delivered revision still pending (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Gujarat State Fertilizer & Chemicals Q2 FY27 Results: Net Profit ₹200.2 Cr, Down 38.2% YoY
Gujarat State Fertilizer & Chemicals Ltd reported revenue from operations of ₹4,741 Cr (+48.7% YoY) and net profit of ₹200.2 Cr (-38.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹200.2 Cr · -38.2% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Budgeted fertilizer sales exceed 22 lakh MT for FY27; new phosphoric acid projects planned at Sikka.
Growth they described
Revenue grew 64% YoY to ₹3,583 crore; fertilizer volumes rose 17% to 5.26 lakh MT.
Call details
| Company | Gujarat State Fertilizers & Chemicals Ltd |
|---|---|
| NSE symbol | GSFC |
| ISIN | INE026A01025 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 4 November 2026 |
| Time | 1:00 PM IST |
| Length | 28 min |
| Audio | Our stream on YouTube ↗ |
Gujarat State Fertilizers & Chemicals Ltd: key numbers
- Share price
- ₹140.40
- Market cap
- ₹5,595 Cr
- Revenue (annual)
- ₹10,946 Cr
- Net profit (annual)
- ₹672.8 Cr
- P/E (TTM)
- 9.8×Sector 19.8×
- Promoter holding
- 37.84%+0.00% QoQ
- FII holding
- 12.51%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
Other calls on Wed, 4 Nov
Today's concalls →
