| P/E Ratio | 25.57Sector: 34.07 |
|---|---|
| Market Cap | ₹1,843 CrSmall Cap |
| RSI | 73.68Overbought |
| Promoter Holding | 69.45%Stable |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 404 | 280 | 255 |
| Other Income | 3.2 | 4.9 | 3.3 |
| Total Income | 407 | 285 | 258 |
| Profit Before Tax | 43.0 | 27.8 | 21.9 |
| Net Profit | 35.7 | 22.9 | 18.2 |
| Operating Margin | 10.6% | 9.8% | 8.5% |
| Net Profit QoQ | +55.9% | ||
| Net Profit YoY | +96.2% | ||
| Adj. Profit QoQ | +73.8% | ||
| Adj. Profit YoY | +114.0% | ||
Key highlights
- Net profit for Q2 FY27 surged 96.2% YoY to ₹35.7 crore, up from ₹18.2 crore in the previous year
- Revenue from Operations increased 58.4% YoY to ₹404 crore, reflecting strong volume growth
- Operating margins expanded to 10.6% in Q2 FY27 compared to 8.5% in the year-ago period
- Company approved a new ₹70 crore chemical plant expansion at Unit-5 with 3,000 MTPA capacity
- Promoter to infuse ₹45 crore through the issuance of 8.54 lakh fully convertible warrants at ₹526.90 each
Operational Growth Drives Robust Financial Performance
Shree Pushkar Chemicals witnessed substantial scaling in its top-line during the quarter ended September 30, 2026, with revenue from operations reaching ₹404 crore. This represents a 58.4% increase compared to ₹255 crore in Q2 FY26 and a sequential growth of 44.3% from ₹280 crore in Q1 FY27. Profit Before Tax (PBT) mirrored this trajectory, climbing to ₹43.0 crore from ₹21.9 crore YoY.
The company's operating efficiency improved significantly, as margins reached 10.6%, driven by the commencement of commercial production at the Unit-5 Dyes segment on September 10, 2026. This operational milestone contributed to the overall profitability surge during the latter half of the quarter.
Strategic Expansion and ₹70 Crore Capex Pipeline
- Approved a new 3,000 MTPA Chemical Plant at Unit-5, D-10, MIDC Lote Parshuram in Ratnagiri
- Total capital expenditure for the new facility is estimated at ₹70 crore
- The project is tentatively scheduled for completion and commissioning by March 2028
- Expansion will be funded through a mix of internal accruals and promoter-led warrant issuance
- Increase in Authorised Share Capital from ₹33.50 crore to ₹34.00 crore to facilitate growth
- New capacity aims to cater to the growing demand from speciality textile dyes and intermediates
Rationale for Unit-5 Expansion
To cater the growing demand of customers
Promoter Infusion and Market Positioning
In a move to strengthen its balance sheet and fund upcoming expansion, the company has approved the issuance of 8,54,060 fully convertible warrants to Mr. Punit Gopikishan Makharia, the Promoter Chairman and Managing Director. The warrants are priced at ₹526.90 each, aggregating to approximately ₹45 crore.
This preferential issue is subject to approval at the Extra-Ordinary General Meeting scheduled for December 2, 2026. With a current price of ₹569.95, the stock is trading at a P/E ratio of 25.57, which remains lower than the sector average of 34.07, even as the 1-year returns stand at a healthy 42.76%.
What to watch next
- Extra-Ordinary General Meeting (EGM) to approve warrant issuance on December 2, 2026
- Progress on the ₹70 crore Unit-5 expansion project targeting March 2028 completion
- Full conversion of promoter warrants into equity shares within 18 months of allotment
- Achievement of FY27 consolidated revenue guidance of approximately ₹1,600 crore
| Share price | ₹569.95 |
|---|---|
| Market capitalisation | ₹1,843.09 Cr |
| Revenue (annual) | ₹976.63 Cr |
| Net profit (annual) | ₹70.10 Cr |
| Revenue (latest quarter) | ₹280.07 Cr+28.37% vs previous quarter |
| Net profit (latest quarter) | ₹22.93 Cr+78.20% vs previous quarter |
| P/E (TTM) | 25.57×Sector 34.07× |
| Promoter holding | 69.45%+0.09% QoQ |
| FII holding | 0.58%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Shree Pushkar Chemicals & Fertilisers Limited announcing Q2 FY27 results and expansion plans. Market figures from a third-party data provider.
