Punjab Chemicals & Crop Protection Limited Earnings Summary — Q4 FY2026
Punjab Chemicals Reports Steady Margin Profile Amid Seasonal Revenue Contraction in Q4
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 66.5% sequentially in Q1 FY2027.
- Revenue of ₹347 Cr is 8.7% higher year-on-year.
- Revenue has compounded at 28.8% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹22 Cr is 7.0% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 167.6% annualised across the period.
- Operating margin stands at 11.8% in Q1 FY2027.
- Operating margin expanded by 100 bps year-on-year.
- Over the last two years operating margin has expanded by 39 bps.
- PBT margin is 8.7%.
- Expense growth of 7.5% remained below revenue growth of 8.7%.
- Operating profit of ₹41 Cr is 18.8% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 68/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 347 | 209 | 247 | 255 | 320 | 202 | 214 | 242 | 242 | 197 |
| Expenses | Improving | 306 | 181 | 217 | 229 | 285 | 177 | 195 | 217 | 215 | 183 |
| Operating Profit | Improving | 41 | 28 | 30 | 26 | 34 | 26 | 19 | 26 | 28 | 13 |
| Operating Margin | Improving | 11.8% | 13.2% | 12.0% | 10.3% | 10.8% | 12.6% | 9.0% | 10.6% | 11.4% | 6.7% |
| Other Income | Volatile | 1 | 2 | -0 | 6 | 4 | -4 | 0 | 2 | 1 | 1 |
| Interest | Stable | 4 | 5 | 4 | 4 | 4 | 5 | 4 | 5 | 4 | 4 |
| Depreciation | Stable | 7 | 9 | 7 | 7 | 7 | 7 | 7 | 6 | 6 | 6 |
| Profit Before Tax | Volatile | 30 | 16 | 19 | 22 | 28 | 10 | 8 | 17 | 18 | 4 |
| Tax | Volatile | 8 | 5 | 5 | 3 | 7 | 3 | 2 | 4 | 5 | 1 |
| Net Profit | Volatile | 22 | 11 | 14 | 19 | 21 | 7 | 6 | 12 | 13 | 2 |
| Net Margin | Volatile | 6.4% | 5.3% | 5.6% | 7.3% | 6.5% | 3.5% | 2.8% | 5.1% | 5.5% | 1.2% |
Key Takeaways
- 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 Guidance
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.
Sentiment Shift
Stable
While YoY profitability has improved from a low base, the business remains cyclical with inconsistent sequential growth and high working capital intensity.
Outlook
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.
From the Annual Report (Key Quotes)
“The business successfully navigated a deleveraging phase... markedly improving its balance sheet resilience.”
“Strategic pivot toward CRAMS and innovation is clearly articulated, yet the execution on revenue scale remains somewhat restricted.”
“Recent value creation has been driven more by efficiency and product mix than by scale.”
Official Quarterly Documents
This summary is AI-generated from Punjab Chemicals & Crop Protection Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.
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