Tam Expansion Changing Consumption
Expected: Q3 FY26HIGH confidence
What: Revenue growth: 65.14% YoY
Fertilizers & Chemicals Travancore Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +15.5%Weak4w Streak
In , Fertilizers & Chemicals Travancore Ltd (Fertilisers) is outperforming Nifty 500 with +15.5% relative strength. Fundamentals: Weak. On a 4-week streak.
Fertilizers & Chemicals Travancore Ltd Key Facts
- PE Ratio
- 3952.0x
- Market Cap
- ₹58,534 Cr
- PAT Growth YoY
- -950%
- Revenue Growth YoY
- +65%
- OPM
- -3.0%
- RS vs Nifty 500
- +15.5%
PE: At PeakRiding Wave
What's Happening
📊PE near cycle highs — limited room for further expansion
📊Debt increased 113% YoY — leverage rising
🏛️DII reducing — stake down 8.5%
💰Trading 100% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Tam Expansion Changing Consumption
Q3 FY26HIGH
2. Regulatory Approval Or License Win
FY27MEDIUM
Key Risks
1. Rising input costs (RLNG, ammonia) and energy prices are eroding margins
HIGH2. Dependence on government subsidy policies and potential delays in disbursements
MEDIUM3. US-Iran conflict disrupting shipping lanes for raw materials like ammonia and su
MEDIUMSector-Specific Signals
Operating Margin (Excl. Other Income)-2.73-515 bps
EBIT to Interest Ratio1.60Not Given
Subsidy Recoverability Basis95Not Given
Net Debt₹1,580 CrNot Given
Key Numbers
PAT Growth YoY
-950%
Inflection Down
Revenue YoY
+65%
Inflection Up
Operating Margin
-3.0%
-600 bps YoY
PE Ratio
3952.0
Current Price
₹905
Dividend Yield
0.02%
Fundamental Score
22/100
Weak
3Y PAT CAGR
-50%
Market Cap
58.5K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Fertilizers & Chemicals Travancore Ltd's Earnings Accelerating?
Based on Q3 FY26 (web) earnings • Updated Apr 19, 2026
Regulatory Approval Or License Win
Expected: FY27MEDIUM confidence
What: Subsidy hike: ₹41,534 Cr
Impact: 12% hike
What Are the Key Risks for Fertilizers & Chemicals Travancore Ltd?
Earnings deceleration risks from management commentary
Rising input costs (RLNG, ammonia) and energy prices are eroding margins
HIGHTrigger: Rising input costs (RLNG, ammonia) and energy prices are eroding margins.
Impact: PAT impact: ₹-67.90 Cr loss
Management view: Focus on production efficiency and cost management.
Monitor: commodity
Dependence on government subsidy policies and potential delays in disbursements
MEDIUMTrigger: Dependence on government subsidy policies and potential delays in disbursements.
Management view: Recognizing subsidy portion of stock on 95% recoverability basis.
Monitor: regulatory
US-Iran conflict disrupting shipping lanes for raw materials like ammonia and su
MEDIUMTrigger: US-Iran conflict disrupting shipping lanes for raw materials like ammonia and sulphur.
Monitor: geopolitical
What Did Fertilizers & Chemicals Travancore Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹1,567.84 Cr
YoY +65.14%QoQ -3.77%
Revenue surged YoY due to higher volumes but dipped QoQ following seasonal trends.
EBITDA
₹-42.88 Cr
YoY -236%Margin -2.73%
EBITDA swung to a loss as rising input costs and pricing pressures completely eroded the benefits of revenue growth.
PAT
₹-67.90 Cr
YoY -948.75%QoQ -425.5%
The company posted a staggering net loss, reversing a profit of ₹8 Cr in the year-ago period.
Other Highlights
• Total expenses rose 69.56% YoY to ₹1,682 Cr, exceeding top-line expansion.
• Other income of ₹39.21 Cr partially cushioned the operational loss.
• Employee costs of ₹69.18 Cr declined from ₹81.62 Cr in Q2 FY26.
What Sector Metrics Matter for Fertilizers & Chemicals Travancore Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Operating Margin (Excl. Other Income)
-2.73
YoY -515 bpsQoQ -515 bps
Why: Rising input costs and pricing pressures completely eroded the financial benefits of revenue growth.
EBIT to Interest Ratio
1.60
YoY Not GivenQoQ Not Given
Why: High interest costs and deteriorating core profitability have reduced the cushion to cover interest expenses.
Subsidy Recoverability Basis
95
YoY Not GivenQoQ Not Given
Why: Prudent accounting for the subsidy portion of stock with dealers.
Net Debt
₹1,580 Cr
YoY Not GivenQoQ Not Given
Why: Liabilities outweigh cash and receivables by ₹2,520 Cr.
Debt-to-EBITDA
8.5
YoY Not GivenQoQ Not Given
Why: High leverage relative to current earnings capacity.
What Is Fertilizers & Chemicals Travancore Ltd's Management Guidance?
Forward-looking targets from management for Q4 FY26
OPM Guidance
8%
Revenue Outlook
₹1,800 Cr
Margin Outlook
Analyst consensus estimate for Q4 FY26
Volume
Management's FY27 trajectory target
Management Tone: CAUTIOUS
How Fast Is Fertilizers & Chemicals Travancore Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +65% | -3% | Inflection Up |
| PAT (Net Profit) | -950% | -50% | Inflection Down |
| OPM | -3.0% | -600 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 19, 2026.
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Frequently Asked Questions: Fertilizers & Chemicals Travancore Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Fertilizers & Chemicals Travancore Ltd's latest quarterly results?
Fertilizers & Chemicals Travancore Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: -950.0% (inflecting downward)
- Revenue Growth YoY: +65.2%
- Operating Margin: -3.0% (volatile)
Is Fertilizers & Chemicals Travancore Ltd's profit growing or declining?
Fertilizers & Chemicals Travancore Ltd's profit is declining with an inflecting downward trend.
- PAT Growth YoY: -950.0% (latest quarter)
- PAT Growth QoQ: -423.8% (sequential)
- 3-Year PAT CAGR: -50.0%
- Trend: Inflecting downward — consistent growth pattern
What is Fertilizers & Chemicals Travancore Ltd's revenue growth trend?
Fertilizers & Chemicals Travancore Ltd's revenue growth trend is turning around (inflection up).
- Revenue Growth YoY: +65.2%
- Revenue Growth QoQ: -3.7% (sequential)
- 3-Year Revenue CAGR: -2.9%
How is Fertilizers & Chemicals Travancore Ltd's operating margin trending?
Fertilizers & Chemicals Travancore Ltd's operating margin is volatile.
- Current OPM: -3.0%
- OPM Change YoY: -6.0% basis points
- OPM Change QoQ: -5.0% basis points
What is Fertilizers & Chemicals Travancore Ltd's 3-year profit and revenue CAGR?
Fertilizers & Chemicals Travancore Ltd's long-term compounding rates
- 3-Year Profit CAGR: -50.0%
- 3-Year Revenue CAGR: -2.9%
Is Fertilizers & Chemicals Travancore Ltd's growth accelerating or decelerating?
Fertilizers & Chemicals Travancore Ltd's earnings growth is inflecting downward with mixed signals on a sequential basis.
- YoY Acceleration: -170.9% bps
- Sequential Acceleration: -100.0% bps
- Margin Warning: Operating margins are under pressure
What is Fertilizers & Chemicals Travancore Ltd's trailing twelve month (TTM) performance?
Fertilizers & Chemicals Travancore Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹28 Cr
- TTM PAT Growth: +100.0% YoY
- TTM Revenue: ₹5,000 Cr
- TTM Revenue Growth: +30.4% YoY
- TTM Operating Margin: 1.7%
Is Fertilizers & Chemicals Travancore Ltd overvalued or undervalued?
Fertilizers & Chemicals Travancore Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 3952.0x
- Price-to-Book: 42.7x
What is Fertilizers & Chemicals Travancore Ltd's current PE ratio?
Fertilizers & Chemicals Travancore Ltd's current PE ratio is 3952.0x.
- Current PE: 3952.0x
- Market Cap: 58.5K Cr
- Dividend Yield: 0.02%
How does Fertilizers & Chemicals Travancore Ltd's valuation compare to its history?
Fertilizers & Chemicals Travancore Ltd's current PE is 3952.0x.
- Current PE: 3952.0x
- Valuation Assessment: Significantly Overvalued
What is Fertilizers & Chemicals Travancore Ltd's price-to-book ratio?
Fertilizers & Chemicals Travancore Ltd's price-to-book ratio is 42.7x.
- Price-to-Book (P/B): 42.7x
- Book Value per Share: ₹21
- Current Price: ₹905
Is Fertilizers & Chemicals Travancore Ltd a fundamentally strong company?
Fertilizers & Chemicals Travancore Ltd is rated Weak with a fundamental score of 22/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +65.2% (10% weight)
- PAT Growth YoY: -950.0% (10% weight)
- PAT Growth QoQ: -423.8% (10% weight)
- Margins stable (10% weight)
Is Fertilizers & Chemicals Travancore Ltd debt free?
Fertilizers & Chemicals Travancore Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹4,000 Cr
What is Fertilizers & Chemicals Travancore Ltd's return on equity (ROE) and ROCE?
Fertilizers & Chemicals Travancore Ltd's return ratios over recent years
- FY2023: ROCE 30.0%
- FY2024: ROCE 17.0%
- FY2025: ROCE 9.0%
Is Fertilizers & Chemicals Travancore Ltd's cash flow positive?
Fertilizers & Chemicals Travancore Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹140 Cr
- Free Cash Flow (FCF): ₹-142 Cr
- CFO/PAT Ratio: 341% (strong cash conversion)
What is Fertilizers & Chemicals Travancore Ltd's dividend yield?
Fertilizers & Chemicals Travancore Ltd's current dividend yield is 0.02%.
- Dividend Yield: 0.02%
- Current Price: ₹905
Who holds Fertilizers & Chemicals Travancore Ltd shares — promoters, FII, DII?
Fertilizers & Chemicals Travancore Ltd's shareholding pattern (Mar 2026)
- Promoters: 90.0%
- FII (Foreign): 0.2%
- DII (Domestic): 0.1%
- Public: 0.8%
Is promoter holding increasing or decreasing in Fertilizers & Chemicals Travancore Ltd?
Fertilizers & Chemicals Travancore Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 90.0% (Mar 2026)
- Previous Quarter: 90.0% (Dec 2025)
- Change: 0.00% (stable)
How long has Fertilizers & Chemicals Travancore Ltd been outperforming Nifty 500?
Fertilizers & Chemicals Travancore Ltd has been outperforming Nifty 500 for 4 consecutive weeks, indicating building momentum.
Is Fertilizers & Chemicals Travancore Ltd a new momentum entry or an established outperformer?
Fertilizers & Chemicals Travancore Ltd is an established outperformer with 4 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Fertilizers & Chemicals Travancore Ltd?
Fertilizers & Chemicals Travancore Ltd has 2 key growth catalysts identified from recent earnings analysis
- Tam Expansion Changing Consumption — Strong top-line growth indicates high demand despite bottom-line stress.
- Regulatory Approval Or License Win — Increased subsidies will help offset high input costs in future quarters.
What are the key risks in Fertilizers & Chemicals Travancore Ltd?
Fertilizers & Chemicals Travancore Ltd has 3 key risks worth monitoring
- [HIGH] Rising input costs (RLNG, ammonia) and energy prices are eroding margins — Rising input costs (RLNG, ammonia) and energy prices are eroding margins.
- [MEDIUM] Dependence on government subsidy policies and potential delays in disbursements — Dependence on government subsidy policies and potential delays in disbursements.
- [MEDIUM] US-Iran conflict disrupting shipping lanes for raw materials like ammonia and su — US-Iran conflict disrupting shipping lanes for raw materials like ammonia and sulphur.
What is Fertilizers & Chemicals Travancore Ltd's management guidance for growth?
Fertilizers & Chemicals Travancore Ltd's management has provided the following forward guidance for Q4 FY26
- Revenue outlook: ₹1,800 Cr
- OPM guidance: 8%
- Management tone: cautious
What sector-specific metrics matter most for Fertilizers & Chemicals Travancore Ltd?
Fertilizers & Chemicals Travancore Ltd's most important sub-sector-specific KPIs from the latest concall
- Operating Margin (Excl. Other Income): -2.73 (YoY -515 bps) (QoQ -515 bps) — Rising input costs and pricing pressures completely eroded the financial benefits of revenue growth.
- EBIT to Interest Ratio: 1.60 (YoY Not Given) (QoQ Not Given) — High interest costs and deteriorating core profitability have reduced the cushion to cover interest expenses.
- Subsidy Recoverability Basis: 95 (YoY Not Given) (QoQ Not Given) — Prudent accounting for the subsidy portion of stock with dealers.
- Net Debt: ₹1,580 Cr (YoY Not Given) (QoQ Not Given) — Liabilities outweigh cash and receivables by ₹2,520 Cr.
- Debt-to-EBITDA: 8.5 (YoY Not Given) (QoQ Not Given) — High leverage relative to current earnings capacity.
Is Fertilizers & Chemicals Travancore Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Fertilizers & Chemicals Travancore Ltd may be worth studying
- Cash flow is positive — CFO ₹140 Cr
What is the investment thesis for Fertilizers & Chemicals Travancore Ltd?
Fertilizers & Chemicals Travancore Ltd investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +65.2% YoY
- Growth catalyst: Tam Expansion Changing Consumption
Risk Factors (Bear Case)
- Margins under pressure
- Appears significantly overvalued
- Key risk: Rising input costs (RLNG, ammonia) and energy prices are eroding margins
What is the future outlook for Fertilizers & Chemicals Travancore Ltd?
Fertilizers & Chemicals Travancore Ltd's forward outlook based on current data signals
- Earnings Trend: inflecting downward
- Revenue Trend: turning around (inflection up)
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: Tam Expansion Changing Consumption
- Key Risk: Rising input costs (RLNG, ammonia) and energy prices are eroding margins
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.