Punjab Chemicals & Crop Protection Limited Earnings Summary — Q4 FY2026

• Revenue for Q4 FY2026 stood at ₹209 Cr, showing a marginal 3.5% YoY growth but a sharp sequential decline from ₹247 Cr in Q3.
• Net Profit improved significantly YoY by 57% to ₹11 Cr compared to ₹7 Cr in the same quarter last year.
• Operating Profit Margin (OPM) remained resilient at 13%, up from 12% in the preceding quarter and matching the YoY baseline.
• The full-year FY2026 performance shows a recovery in scale with annual revenue crossing the ₹1,000 Cr mark for the first time in several years.
• Despite profit recovery, the company faces challenges with an elongated inventory cycle and a deteriorating Cash Conversion Cycle.
• Interest costs remain a steady drag on the bottom line, reported at ₹5 Cr for the quarter against ₹16 Cr of PBT.

Management remains focused on the strategic pivot toward CRAMS and innovation, aiming to break the stagnation of the INR 900-1,000 Cr revenue range.

Stable

While YoY profitability has improved from a low base, the business remains cyclical with inconsistent sequential growth and high working capital intensity.

The outlook is cautiously optimistic as the company successfully deleveraged in previous years and is now scaling its performance chemicals segment, though global agrochemical headwinds remain a risk factor.