Gujarat State Fertilizers & Chemicals Q2 FY27: revenue up 48.7% to ₹4,741 Cr, net profit down 38.2% to ₹200 Cr
Results · Finvezto · 4 Nov 2026 · Gujarat State Fertilizers & Chemicals (GSFC)
Results Q2 FY27, ₹ Cr
| Q2 FY27 | ₹ Cr | QoQ | YoY |
|---|---|---|---|
| Revenue | 4,741 | - | +48.7% |
| Operating profit | 140 | - | -58.5% |
| Net profit | 200 | - | -38.2% |
| Operating margin | 2.9% | - | -7.6 pp |
| Net margin | 4.2% | - | -5.9 pp |
YoY is the company's own figure. QoQ shows where our quarterly series matches the filing.
Key points
- In Q2 FY27, consolidated sales grew 49% year-on-year, while standalone sales reached INR 4,711 crores, though consolidated PBT and PAT declined 42% and 38% respectively. Earnings call
- Fertilizer segment sales rose 55% year-on-year driven by higher DAP realization, despite sales volume falling 6% to 5.69 lakh metric tons. Earnings call
- Surging sulfur costs up 327% and natural gas up 62% compressed the Fertilizer segment EBIT to INR 17 crores compared to INR 224 crores in Q2 FY26. Earnings call
What to watch
- Management on caprolactam-benzene spread: The caprolactam- benzene spread is expected to moderate in quarter 3 '27 as regional supply normalizes, potentially impacting margins across the caprolactam-nylon value chain.
- Management on industrial products demand: Demand for melamine and technical grade urea is expected to remain steady, while HX crystal exports may improve amid subdues domestic demand.
Links
Company page · Results tracker
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.