Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Krishana Phoschem Ltd

KRISHANA
Fertilisers

Krishana Phoschem Ltd's earnings have outrun its stock. EPS grew +108.2% in a year against a −66.0% price move.

The sharpest disagreement: profits are rising, but only −39% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a confirmed uptrend (67 weeks in) while the P/E sits at the 53rd percentile of its own 9-year range. Underneath, the last four quarters read improving — profit +51.6% year on year, and −39% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Mixed
fundamental trajectory, 12 quarters
Price
₹183
−66.0% 1Y
P/E
28.8×
53rd pctile
of its own 9-year range
Revenue (Jun 26)
₹532 Cr
+34.3% YoY
Profit (Jun 26)
₹47.0 Cr
+51.6% YoY
Operating margin
17.0%
flat YoY
ROCE
27%
FY26
ROIC
18.7%
vs WACC 12.0% → +6.7 pp
Cash conversion
−39%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Krishana Phoschem Ltd trades at ₹183, in a confirmed uptrend and 67 weeks into that stage. That is +53.3% against its own 200-day average. It sits at 8% of a 52-week range of ₹133 to ₹734. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week.

Today the stock is in a confirmed uptrend — week 67 of stage 2, confirmed. At ₹183 it trades +53.3% versus its 200-day average and sits at 8% of its 52-week range (₹133–₹734).

Jul 26: ₹183 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+53.3% versus the 200-day line, week 67 of stage 2
Price50-day avg200-day avg
S2S2S4S2₹784₹601₹418₹235₹52.5₹183₹119Jul 23May 24Feb 25Nov 25Jul 26
S2S2S4S2₹784₹601₹418₹235₹52.5₹183₹119Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2017 Each cell is one week from 2017 to now (485 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 17Jul 26

Against the market, two honest reads. Cumulative: over the last 9.4 years the stock moved +942% while the NIFTY 500 moved +204% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 1 straight week — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Krishana Phoschem Ltd trades at 28.8× P/E, mid-range by its own standards (53rd percentile). Its long-run median P/E is 28.1×, measured across 9.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 28.8× is mid-range by its own standards (53rd percentile), against a long-run median of 28.1× measured over 9.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 28.8× vs a 28.1× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 9.4-year window; loss-period spikes above 51× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (53rd percentile)
P/EMedianEPS (TTM) (quarterly)
54.1×₹6.941.6×₹5.129.2×₹3.416.7×₹1.74.2×₹0.0×28.80×₹6Mar 17Sep 19Jan 22May 24Jul 26
54.1×₹6.941.6×₹5.129.2×₹3.416.7×₹1.74.2×₹0.0×28.80×₹6Mar 17Jan 22Jul 26
PEG 0.23 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Computed here as quarter-end P/E ÷ trailing-twelve-month EPS growth (only quarters with positive growth), because a reported quarterly PEG is not held for this stock. Last 8 quarters.
below 1.0, the growth looks cheap against the multiple
PEGPEG = 1.0
1.1×0.8×0.6×0.3×0.1××0.23×Q2 FY24Q3 FY25Q1 FY26Q3 FY26Q1 FY27
1.1×0.8×0.6×0.3×0.1××0.23×Q2 FY24Q1 FY26Q1 FY27
P/E
28.8×
53rd percentile of 9y
PEG
n/m
not derivable — 3-year earnings growth unavailable

Why the multiple sits where it does: over the past year annual EPS moved +108.2% against a −66.0% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +20.7%/yr price move, ~+47.8%/yr came from earnings growth and ~−27.1 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Krishana Phoschem Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +126.7% at its peak to +92.2% but is still expanding, ROCE lifting at 43.5%. The read is built from 12 quarters across 4 curves, on full evidence.

Growth, year by year: revenue +78.5% in FY26, profit +106.9% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
201%314%145%212%88%110%31%7.3%−26%−95%%%78.5%106.9%FY16FY21FY26
201%314%145%212%88%110%31%7.3%−26%−95%%%78.5%106.9%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue accelerating, profit rolling over
RevenueProfitEPS
224%193%175%132%126%72%77%12%28%−48%%%73.3%92.2%95.7%Sep 23Dec 24Jun 26
224%193%175%132%126%72%77%12%28%−48%%%73.3%92.2%95.7%Sep 23Dec 24Jun 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
45%39%32%25%19%%43.5%Sep 23Mar 24Dec 24Sep 25Jun 26
45%39%32%25%19%%43.5%Sep 23Dec 24Jun 26
Revenue growth
Steady high
latest +73.3% · span +41.9% to +210.8%
Profit growth
Rolling over
latest +92.2% · span +2.4% to +174.4%
EPS growth
Rolling over
latest +95.7% · span −31.8% to +175.9%
ROCE
Rising
latest 43.5% · span 20.5%–43.5%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+78.5%+95.6%+66.7%+39.1%
Profit+106.9%+88.2%+55.2%+68.1%
EPS+108.2%+86.4%+50.7%+55.6%
Share price−66.0%−5.1%+20.7%
Revenue YoY (Jun 26)
+34.3%
latest quarter vs a year ago
Profit YoY (Jun 26)
+51.6%
latest quarter vs a year ago
Revenue 10y
39.1%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

66.9/100 — rank 2 of 15 in Fertilisers · 100% evidence confidence

Krishana Phoschem Ltd scores 66.9 out of 100 against the 15 companies it is compared with in Fertilisers, ranking 2. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -54.9% and the one-year return is -65.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

The four contributions add to the total exactly: 28.7 + 18.9 + 13.9 + 5.4 = 66.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Krishana Phoschem Ltd reported ₹532 Cr of revenue in the Jun 26 quarter, +34.3% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 39.1% a year. The last full year, FY26, came in at ₹2,418 Cr. The last four reported quarters add to ₹2,554 Cr.

FY26 revenue came in at ₹2,418 Cr (+78.5% on the year), capping 10 years at 39.1% compound. The latest quarter (Jun 26) printed ₹532 Cr, +34.3% year on year — the 12th consecutive quarter of year-over-year growth.

FY26 revenue ₹2,418 Cr (+78.5% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
39.1% a year over 10 years
RevenueYoY growth
2.6k201%2.0k145%1.3k88%65331%0−26%₹ Cr%₹2,41878.5%FY16FY21FY26
2.6k201%2.0k145%1.3k88%65331%0−26%₹ Cr%₹2,41878.5%FY16FY21FY26
Jun 26: ₹532 Cr (+34.3% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
12th straight quarter of growth
Revenue (quarterly)YoY growth
815419%612310%408202%20493%0−16%₹ Cr%₹53234.3%Sep 23Dec 24Jun 26
815419%612310%408202%20493%0−16%₹ Cr%₹53234.3%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +78.2% growth against the decade's 39.1% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +73.3% over the last 4 quarters against +56.8%/yr over the last 8 — accelerating; TTM profit +92.2% vs +108.7%/yr — rolling over.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Krishana Phoschem Ltd's operating margin is 17.0% in the Jun 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0% to 23.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 17.0%, +0.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 12.0%–23.0%.

Why the margin moved: operating margin went +0.1 pp year on year while gross margin went −4.6 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 12.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 12.0–23.0% band over 13 years
operating marginYoY change (pp)
24%6.8%21%3.9%18%1.0%14%−1.9%11%−4.8%%%12%−2%FY14FY20FY26
24%6.8%21%3.9%18%1.0%14%−1.9%11%−4.8%%%12%−2%FY14FY20FY26
Jun 26: 17.0% operating margin (+0.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
19%6.0%16%2.3%14%−1.5%12%−5.3%9.4%−9.0%%%17%0%Sep 23Dec 24Jun 26
19%6.0%16%2.3%14%−1.5%12%−5.3%9.4%−9.0%%%17%0%Sep 23Dec 24Jun 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Krishana Phoschem Ltd earned ₹47.0 Cr of net profit in the Jun 26 quarter, +51.6% year on year. It is the 7th consecutive quarter of growth. Full-year FY26 profit was ₹180 Cr. The 10-year compound rate is 68.1%. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹31.0 Cr.

Jun 26 profit was ₹47.0 Cr, +51.6% year on year — the 7th consecutive quarter of growth. On the full year, FY26 printed ₹180 Cr (+106.9%), and the 10-year compound rate is 68.1%.

FY26 profit ₹180 Cr (+106.9% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
68.1% a year over 10 years
Net profitYoY growth
194275%146183%9792%490.0%0−92%₹ Cr%₹180106.9%FY16FY21FY26
194275%146183%9792%490.0%0−92%₹ Cr%₹180106.9%FY16FY21FY26
Jun 26: ₹47.0 Cr (+51.6% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
7th straight quarter of growth
Net profit (quarterly)YoY growth
90488%67351%45215%2279%0−58%₹ Cr%₹4751.6%Sep 23Dec 24Jun 26
90488%67351%45215%2279%0−58%₹ Cr%₹4751.6%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +34.3% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +88.6% vs revenue +78.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −39% of Krishana Phoschem Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−191 Cr of operating cash against ₹180 Cr of profit. After ₹112 Cr of capital spending, ₹−303 Cr was left as free cash.

FY26: operating cash of ₹−191 Cr against reported profit of ₹180 Cr, leaving free cash of ₹−303 Cr after ₹112 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −39% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−191 Cr vs profit ₹180 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution. FY22/FY23 reflects an acquisition year — point shown clipped.
−39% of 3-year profit arrived as cash
Operating cashNet profitFree cash
21979−62−202−342₹ Cr₹−191₹180₹−303FY16FY21FY26
21979−62−202−342₹ Cr₹−191₹180₹−303FY16FY21FY26
FY26: CFO = −106% of profit (three-year rate −39%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
341%193%46%−101%−249%%−106%FY16FY21FY26
341%193%46%−101%−249%%−106%FY16FY21FY26

🚨 Why conversion sits at −39%: the cash cycle tightened 32 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 1.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Krishana Phoschem Ltd's cash conversion cycle runs 126 days in FY26, down from 158 days in FY21. Capital spending ran ₹189 Cr over the last 3 years. At FY26 sales of ₹2,418 Cr each day of that cycle holds about ₹6.6 Cr, so roughly ₹835 Cr sits inside the business at any moment.

FY26: debtors at 108 days, inventory at 65 days — roughly 2.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 126 days, tighter than FY21's 158.

The full loop: cash goes out to suppliers and production on day 0; stock waits 65 days to sell; customers pay about 108 days after that; and suppliers themselves are paid at 47 days — netting out to the 126-day cycle.

In money terms: at FY26 sales of ₹2,418 Cr, each day of the cycle holds about ₹6.6 Cr — so the 126-day loop keeps roughly ₹835 Cr sitting inside the business at any moment.

FY26: a 126-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−32 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
31323114967−15days126d65d108d47dFY14FY17FY20FY23FY26
31323114967−15days126d65d108d47dFY14FY20FY26

On the investment side: capital spending of ₹189 Cr over the last 3 fiscal years against ₹99.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹112 Cr, work-in-progress ₹1.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
208156104520₹ Cr₹112₹1FY16FY18FY21FY23FY26
208156104520₹ Cr₹112₹1FY16FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Krishana Phoschem Ltd earns a ROCE of 27% in FY26. That is up from a trough of 7% in FY16. Return on invested capital clears the cost of that capital by +6.7 percentage points, so growth here adds value rather than only size. The wiring behind it is 7.4% net margin on 1.47× asset turns.

FY26 ROCE is 27%, recovered from a FY16 trough of 7% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 7.4% net margin × 1.47× asset turns × 2.93× balance-sheet leverage ≈ 31.9% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 18.7% − 12.0% = a +6.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY26: ROCE 27% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY16's 7%
ROCEROIC (annual)WACC
29%23%17%11%5.4%%27%21.1%FY14FY20FY26
29%23%17%11%5.4%%27%21.1%FY14FY20FY26
Q4 FY26: ROCE 35.1% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
37%30%22%14%6.6%%35.1%22.8%Q2 FY24Q3 FY25Q1 FY27
37%30%22%14%6.6%%35.1%22.8%Q2 FY24Q3 FY25Q1 FY27
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Krishana Phoschem Ltd carries total debt of ₹733 Cr against shareholder equity of ₹561 Cr as of Jun 26, a debt-to-equity of 1.31. On the annual view that ratio went from 0.32 in FY22 to 1.31 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Jun 26: total debt of ₹733 Cr against shareholder equity of ₹561 Cr — a debt-to-equity of 1.31. On the annual view, debt-to-equity went from 0.32 (FY22) to 1.31 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹733 Cr at 1.31× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
7921.5×5941.2×3960.9×1980.6×00.2×₹ Cr×₹7331.31×FY22FY24FY26
7921.5×5941.2×3960.9×1980.6×00.2×₹ Cr×₹7331.31×FY22FY24FY26
Jun 26: debt ₹733 Cr, debt-to-equity 1.31 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
7921.6×5941.4×3961.2×1981.1×00.9×₹ Cr×₹7331.31×Sep 23Dec 24Jun 26
7921.6×5941.4×3961.2×1981.1×00.9×₹ Cr×₹7331.31×Sep 23Dec 24Jun 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters added 1.9 points of Krishana Phoschem Ltd over 8 quarters, the biggest move on the register. That takes promoters to 72.9% of the company. Foreign institutions moved +0.3 points over the same window, to 0.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +1.9 points over 8 quarters to 72.9%; Foreign institutions: +0.3 points over 8 quarters to 0.4%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Why the register moved: promoters drove it (+1.9 points) — steady accumulation by institutions reading the same numbers this page reads.

Fiscal-year ends: promoters +1.9 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
79%58%36%15%−5.8%%72.9%0.3%0%26.8%Mar 24Mar 25Mar 26
79%58%36%15%−5.8%%72.9%0.3%0%26.8%Mar 24Mar 25Mar 26
Promoters added 1.9 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
79%58%36%15%−5.8%%72.9%0.4%0.0%26.7%Jun 23Dec 24Jun 26
79%58%36%15%−5.8%%72.9%0.4%0.0%26.7%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Krishana Phoschem Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Fertilisers
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Gujarat Narmada Valley Fertilizers & Chemicals LtdGNFC 69.5/100Favorable setup96% evidence BREAKING OUT 21.1/35 Revenue -1.5% · PAT 35.3% · OPM change 10 pp 88% evidence 14.3/25 ROCE 12% · OPM 22% 100% evidence 15.1/20 P/E 9.3× · PEG 0.27 100% evidence 19.0/20 RS sector 11.8% · RS bench 3.1% · 1Y -5.2%10 of 12 weeks ahead 100% evidence
Exact sum: 21.1 + 14.3 + 15.1 + 19 = 69.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Krishana Phoschem Ltdthis pageKRISHANA 66.9/100Favorable setup100% evidence BASING 28.7/35 Revenue 73.3% · PAT 92.2% · OPM change 0 pp 100% evidence 18.9/25 ROCE 27.2% · OPM 17% 100% evidence 13.9/20 P/E 28.8× · PEG 0.58 100% evidence 5.4/20 RS sector -54.9% · RS bench 56.5% · 1Y -65.1%0 of 12 weeks ahead 100% evidence
Exact sum: 28.7 + 18.9 + 13.9 + 5.4 = 66.9 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -54.9% and the one-year return is -65.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Chambal Fertilisers & Chemicals LtdCHAMBLFERT 66.3/100Favorable setup100% evidence ASLEEP 17.1/35 Revenue 15.6% · PAT 10.2% · OPM change 3 pp 100% evidence 18.9/25 ROCE 25.5% · OPM 16% 100% evidence 17.0/20 P/E 9.1× · PEG 0.52 100% evidence 13.3/20 RS sector 0.4% · RS bench -7.8% · 1Y -18.4%0 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 18.9 + 17 + 13.3 = 66.3 · Decision use: Price leads the evidence: RS versus the benchmark is -7.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4Rashtriya Chemicals & Fertilizers LtdRCF 51.2/100Mixed-positive evidence90% evidence ASLEEP 21.9/35 Revenue 9.1% · PAT 76.5% · OPM change 1.2 pp 88% evidence 7.5/25 ROCE 10.2% · OPM 6% 100% evidence 12.6/20 P/E 17.8× · PEG 0.9 100% evidence 9.2/20 RS sector -3.1% · RS bench -7.8% · 1Y -16.7%3 of 10 weeks ahead 70% evidence
Exact sum: 21.9 + 7.5 + 12.6 + 9.2 = 51.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Khaitan Chemicals & Fertilizers LtdKHAICHEM 51.1/100Mixed-positive evidence74% evidence 20.6/35 Revenue 19.9% · PAT 32.5% · OPM change -3 pp 95% evidence 15.6/25 ROCE 18.5% · OPM 11% 95% evidence 11.1/20 P/E 8.2× · PEG — 15% evidence 3.8/20 RS sector -31.3% · RS bench -38.4% · 1Y -57.1%1 of 8 weeks ahead 70% evidence
Exact sum: 20.6 + 15.6 + 11.1 + 3.8 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Paradeep Phosphates LtdPARADEEP 51.1/100Mixed-positive evidence69% evidence TURNING 19.4/35 Revenue 28.1% · PAT 12.6% · OPM change -1 pp 95% evidence 14.3/25 ROCE 17.1% · OPM 12% 76% evidence 10.0/20 P/E 14.1× · PEG — 15% evidence 7.4/20 RS sector -12.4% · RS bench -2.6% · 1Y -22.2%6 of 10 weeks ahead 70% evidence
Exact sum: 19.4 + 14.3 + 10 + 7.4 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Madhya Bharat Agro Products LtdMBAPL 50.3/100Mixed-positive evidence100% evidence BASING 24.3/35 Revenue 47.6% · PAT 100% · OPM change 2 pp 100% evidence 16.1/25 ROCE 19.3% · OPM 16% 100% evidence 4.5/20 P/E 45.3× · PEG 2.04 100% evidence 5.4/20 RS sector -52.8% · RS bench 63.9% · 1Y -62.7%0 of 12 weeks ahead 100% evidence
Exact sum: 24.3 + 16.1 + 4.5 + 5.4 = 50.3 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -52.8% and the one-year return is -62.7%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
8Southern Petrochemicals Industries Corporation LtdSPIC 49.6/100Mixed-negative evidence76% evidence ASLEEP 17.5/35 Revenue -4.2% · PAT 36.1% · OPM change 3.1 pp 83% evidence 14.3/25 ROCE 17.5% · OPM 8% 95% evidence 11.3/20 P/E 6.4× · PEG — 15% evidence 6.5/20 RS sector -8.2% · RS bench -16.4% · 1Y -32.6%6 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 14.3 + 11.3 + 6.5 = 49.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Zuari Agro Chemicals LtdZUARI 47.9/100Mixed-negative evidence81% evidence ASLEEP 15.9/35 Revenue -44% · PAT 100% · OPM change -1 pp 95% evidence 9.9/25 ROCE 16.4% · OPM 10% 95% evidence 14.6/20 P/E 3.2× · PEG — 50% evidence 7.5/20 RS sector -6.9% · RS bench -10.8% · 1Y 9.8%2 of 10 weeks ahead 70% evidence
Exact sum: 15.9 + 9.9 + 14.6 + 7.5 = 47.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Gujarat State Fertilizers & Chemicals LtdGSFC 46.8/100Mixed-negative evidence90% evidence ASLEEP 17.3/35 Revenue 14.8% · PAT 13.9% · OPM change -1 pp 88% evidence 6.7/25 ROCE 7.2% · OPM 3.2% 100% evidence 15.1/20 P/E 9.4× · PEG 0.3 100% evidence 7.7/20 RS sector -5.5% · RS bench -11.8% · 1Y -21%0 of 10 weeks ahead 70% evidence
Exact sum: 17.3 + 6.7 + 15.1 + 7.7 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Deepak Fertilisers & Petrochemicals Corp LtdDEEPAKFERT 45.9/100Mixed-negative evidence94% evidence TURNING 13.3/35 Revenue 13.6% · PAT -0.5% · OPM change 7 pp 100% evidence 11.8/25 ROCE 11.6% · OPM 26% 100% evidence 11.2/20 P/E 19.9× · PEG 0.52 100% evidence 9.6/20 RS sector -11.5% · RS bench 15.9% · 1Y 1.2%10 of 10 weeks ahead 70% evidence
Exact sum: 13.3 + 11.8 + 11.2 + 9.6 = 45.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Coromandel International LtdCOROMANDEL 44.8/100Mixed-negative evidence94% evidence TURNING 12.7/35 Revenue 23.5% · PAT -20.9% · OPM change -2 pp 100% evidence 16.9/25 ROCE 22% · OPM 9% 100% evidence 1.5/20 P/E 32.8× · PEG 2.69 100% evidence 13.7/20 RS sector 5% · RS bench -4.6% · 1Y -15.1%0 of 10 weeks ahead 70% evidence
Exact sum: 12.7 + 16.9 + 1.5 + 13.7 = 44.8 · Decision use: Price leads the evidence: RS versus the benchmark is -4.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
13National Fertilizer LtdNFL 41.7/100Mixed-negative evidence89% evidence ASLEEP 19.3/35 Revenue 8.7% · PAT 15.2% · OPM change 2 pp 88% evidence 6.1/25 ROCE 9.1% · OPM 7% 100% evidence 10.1/20 P/E 16.6× · PEG 1.39 65% evidence 6.2/20 RS sector -6.9% · RS bench -14.8% · 1Y -27.7%0 of 12 weeks ahead 100% evidence
Exact sum: 19.3 + 6.1 + 10.1 + 6.2 = 41.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Madras Fertilizers LtdMADRASFERT 38.9/100Mixed-negative evidence62% evidence ASLEEP 13.5/35 Revenue -9.5% · PAT 24.6% · OPM change 16 pp 62% evidence 10.3/25 ROCE 14.8% · OPM 5% 95% evidence 10.2/20 P/E 12.3× · PEG — 15% evidence 4.9/20 RS sector -14.4% · RS bench -12.3% · 1Y -25.5%3 of 10 weeks ahead 70% evidence
Exact sum: 13.5 + 10.3 + 10.2 + 4.9 = 38.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Fertilizers & Chemicals Travancore LtdFACT 37.0/100Mixed-negative evidence89% evidence ASLEEP 17.5/35 Revenue 30.4% · PAT 100% · OPM change -5.6 pp 88% evidence 4.2/25 ROCE 8.7% · OPM 2.4% 100% evidence 5.0/20 P/E 3612× · PEG 2.49 65% evidence 10.3/20 RS sector 1.8% · RS bench -6.4% · 1Y -13.7%5 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 4.2 + 5 + 10.3 = 37 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Krishana Phoschem Ltd's share price today?

Krishana Phoschem Ltd trades at ₹183, −66.0% over the past year. The company is valued at ₹5,656 Cr. The stock sits at 8% of its 52-week range of ₹133–₹734, +53.3% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 67 weeks in. — as of 31 July 2026.

What were Krishana Phoschem Ltd's latest quarterly results?

Krishana Phoschem Ltd reported revenue of ₹532 Cr and net profit of ₹47.0 Cr for the Jun 26 quarter. Revenue rose 34.3% and profit rose 51.6% year on year. Earnings per share were ₹1.52. The operating margin was 17.0%, 0.0 pp higher than a year earlier. — as of 31 July 2026.

What is Krishana Phoschem Ltd's revenue?

Krishana Phoschem Ltd reported revenue of ₹532 Cr in the Jun 26 quarter, +34.3% year on year. For the full FY26 fiscal year, revenue was ₹2,418 Cr (+78.5%). Over the last 10 years revenue compounded at 39.1% a year. — as of 31 July 2026.

What is Krishana Phoschem Ltd's profit?

Krishana Phoschem Ltd earned ₹47.0 Cr of net profit in the Jun 26 quarter, +51.6% year on year — the 7th straight quarter of growth. Full-year FY26 profit was ₹180 Cr. The operating margin ran 17.0% in the latest quarter. — as of 31 July 2026.

What is Krishana Phoschem Ltd's market cap?

Krishana Phoschem Ltd's market capitalisation is ₹5,656 Cr at a share price of ₹183. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Krishana Phoschem Ltd's P/E ratio?

Krishana Phoschem Ltd trades at a P/E of 28.8×, at the 53rd percentile of its own 9-year range, against a long-run median of 28.1×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Krishana Phoschem Ltd pay a dividend?

Yes — Krishana Phoschem Ltd's dividend payout was 2% of profit in FY26, and it recorded a payout in 7 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Krishana Phoschem Ltd overvalued?

On its own history, Krishana Phoschem Ltd looks mid-range against its own history: its P/E of 28.8× sits at the 53rd percentile of its 9-year range (long-run median 28.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

Is Krishana Phoschem Ltd growing?

Yes — Krishana Phoschem Ltd is growing: latest-quarter revenue +34.3% year on year, profit +51.6%, and the margin +0.0 pp at 17.0%. The 10-year compound rates are 39.1% (revenue) and 68.1% (profit). The earnings engine currently reads: improving — as of 31 July 2026.

How is Krishana Phoschem Ltd performing?

Krishana Phoschem Ltd is in a confirmed uptrend, 67 weeks in. Its latest quarter's revenue rose 34.3% and profit rose 51.6% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Krishana Phoschem Ltd in?

Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +126.7% at its peak to +92.2% but is still expanding, ROCE lifting at 43.5%. The read comes from the last 12 quarters of growth (revenue growth +73.3% latest, profit growth +92.2% latest, eps growth +95.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Krishana Phoschem Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 67 of stage 2), trading +53.3% versus its 200-day average and at 8% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Krishana Phoschem Ltd beating the market?

On recent form, yes — Krishana Phoschem Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 1 straight week, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 9.4 years the stock moved +942% against the NIFTY 500's +204% — ahead of the index over the full window. — as of 31 July 2026.

Will Krishana Phoschem Ltd's share price go up?

This page publishes no price forecast for Krishana Phoschem Ltd. What it measures instead: the share price is ₹183, the price is in a confirmed uptrend 67 weeks in. Its P/E of 28.8× sits at the 53rd percentile of its own 9-year range. — as of 31 July 2026.

Who owns Krishana Phoschem Ltd?

Promoters hold 72.9% of Krishana Phoschem Ltd, foreign institutions 0.4%, domestic institutions 0.0% and the public 26.7% (latest quarter). The biggest move on the register over the last two years: Promoters added 1.9 points over 8 quarters. — as of 31 July 2026.

Does Krishana Phoschem Ltd have too much debt?

It carries real leverage — Krishana Phoschem Ltd's debt-to-equity is 1.31, and operating profit covers the interest bill 8×. FY26 borrowings were ₹733 Cr against equity of ₹561 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.

What is Krishana Phoschem Ltd's capex?

Krishana Phoschem Ltd spent ₹189 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹112 Cr, with ₹1.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Krishana Phoschem Ltd's cash flow?

Krishana Phoschem Ltd generated ₹−191 Cr of operating cash flow in FY26 and ₹−303 Cr of free cash flow after ₹112 Cr of capital spending. Reported profit that year was ₹180 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Krishana Phoschem Ltd's profit real cash?

Not fully — over the last 3 fiscal years, −39% of Krishana Phoschem Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−191 Cr against reported profit of ₹180 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Krishana Phoschem Ltd in its business cycle?

Krishana Phoschem Ltd's FY26 operating margin was 12.0%, against a 13-year band of 12.0%–23.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 17.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Krishana Phoschem Ltd story?

The sharpest disagreement: profits are rising, but only −39% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Krishana Phoschem Ltd a stock worth studying right now?

This is not investment advice. The machine read: Krishana Phoschem Ltd's earnings have outrun its stock. EPS grew +108.2% in a year against a −66.0% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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