Madhya Bharat Agro Products Reports All Round Highest Performance In Q2FY26

Madhya Bharat Agro Products Limited (MBAPL) reported a strong set of performance for the quarter and half year ended on September 30, 2025, led by SSP best ever sales and continuing steady complex fertilizer capacity utilization with resultant sales.

The company clocked a 120% rise in its profit after tax (PAT) on a year-on-year (Y-o-Y) basis to Rs 30.45 crore in the September 2025 quarter from Rs 13.84 crore in the same period a year ago. On a quarter-on-quarter (Q-o-Q) basis, PAT rose 8% from Rs 28.20 crore in the June 2025 quarter.

The Ostwal Group firm clocked a 61.75% rise in revenue from operations on a Y-o-Y basis to Rs 450.19 crore in Q2FY26 from Rs 278.31 crore in Q2FY25. Its operational income stood at Rs 409.68 crore in the preceding June quarter. EBITDA for the quarter came in at Rs 61.8 crore, up 71% Y-o-Y. Operating margins remained healthy at 13.7% for the quarter, while PAT margins held at 6.8% for the quarter.

For the six-months ended September 30, 2025, the fertiliser and chemical products manufacturer reported a 131.7% Y-o-Y growth in the bottomline at Rs 58.67 crore from Rs 25.32 crore in the year ago period. MBAPL's operational income grew 80% Y-o-Y to Rs 859.88 crore in H1FY26 from Rs 478.66 crore in H1FY25. Operating profit rose 70% Y-o-Y to 119 for the April-September 2025 period.

MBAPL reported highest-ever fertilizer production volumes of 1,18,541 MT, while sales volumes also came at highest-ever at 1,35,187 MT for the reported period.

It has a credit rating of 'A-Stable CRISIL' and has manufacturing units in Madhya Pradesh and Maharashtra with market spanning in,11 states through a strong network of more than 32,500 retailers through more than 2000 whole sellers.

Commenting on the results for Q2 & H1 FY26, Mr. MK Ostwal- Promoter, Chairman & Director said, “We are delighted to report  results for Q2 and H1 FY26, marking another period of remarkable growth and continued operational excellence. For the half year period, we have achieved Highest-Ever revenue of ₹860 crore, up 80% YoY, with Highest-Ever EBITDA of ₹119 crore, up 70% YoY, and PAT at ₹59 crore, a 132% YoY increase. This performance reflects the strength of our integrated operations, high-capacity utilization, and a relentless focus on execution".

Our new plant at Dhule with 660,000 MTPA of SSP and DAP/NPK with backward integration and further capacity expansion of 90,000 MTPA of DAP/NPK with 165,000 MTPA of sulphuric acid at Sagar are progressing well. These projects are set to drive enhanced growth and value creation in future.

In August 2025, the company was selected as the preferred buyer of Green Ammonia in one of India’s largest reverse auctions conducted under SECI’s SIGHT Scheme. Oriana Power and SSC Infra emerged as the winning bidders and will supply 1.30 lakh MTPA of Green Ammonia to MBAPL plants for a period of 10 years.

We also note that the Commission for Agricultural Costs & Prices (CACP) has recommended a phased increase in urea prices, which, if implemented, could enhance subsidies for phosphorus and potassium fertilizers creating a potential growth opportunity for NPK, a key strategic segment for MBAPL.’’

About MBAPL

Madhya Bharat Agro Products Limited (MBAPL) is an ISO 9001:2015 with top class NABL accredited TESTING LAB for Chemical testing of DAP and NPK fertilizers. Originally incorporated in year 1997 as private sector unit manufacturing Single super phosphate with production capacity of 60000 in Year 1999 and in Year 2004, it came under “Ostwal Group of Industries”. Committed to our goal for completely integrated self-sustained unit we started commercial production of Beneficiated Rock Phosphate from our new unit at Village Sorai, Tehsil Banda, Distt. Sagar in year 2012 with total production capacity of 99000 TPA which has been now taken to 2.40 lakhs SSP, 2.40 lakhs DAP/NPK capacity with matching backward integration. Once new projects are operational, MBAPL will have 1.2 million MT capacity for phosphatic fertilizer with matching backward integration for sulphuric and phosphoric acid capacities.