# Krishana Phoschem share price today (Krishana Phoschem Ltd, NSE: KRISHANA)

> Krishana Phoschem share price today: ₹240.29 at the NSE close on 4 November 2026, up 136.6% in a year. Krishana Phoschem (NSE: KRISHANA) is worth ₹7,413 crore, trades at a P/E of 37.7 and has closed between ₹93.59 and ₹240.29 over the past 52 weeks. > Krishana Phoschem Ltd's share price has risen faster than its earnings: +136.6% in a year, against +108.2% for earnings per share. KRISHANA · Fertilisers · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/krishana-phoschem-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹240.29 (+136.6% in a year)
- P/E: 37.7× (higher than 79% of the last 9.7 years)
- Revenue (Jun 2026): ₹532 Cr (+34.3% on a year ago)
- Profit (Jun 2026): ₹47.0 Cr (+51.6% on a year ago)
- Operating margin: 17.0% (flat on a year ago)
- ROCE: 27%, FY26
- ROIC: 18.7%, against a 12.0% cost of capital: +6.7 points

The main question: profits are rising, but only −39% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Krishana Phoschem share price today? Krishana Phoschem Ltd's share price was ₹240.29 at the close on 4 November 2026. It has been rising for 80 weeks. That is 56.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹94 and ₹240, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 20 weeks in a row. Over the last 9.7 years the share price moved +6,746% while the NIFTY 500 moved +184%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Krishana Phoschem this quarter? Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), profit up on a year earlier for 7 quarters in a row and foreign funds (FIIs) raised their stake for 3 quarters in a row. 1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹532 crore, +34.3% on a year earlier. 2. Profit up on a year earlier for 7 quarters in a row In the June 2026 quarter profit was ₹47 crore, +51.6% on a year earlier. 3. Foreign funds (FIIs) raised their stake for 3 quarters in a row From 0.2% to 0.6% of the company by the September 2026 quarter. ## What are Krishana Phoschem's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Krishana Phoschem reported revenue of ₹532 crore, up 34.3% from ₹396 crore a year earlier, and a profit of ₹47.0 crore, up 51.6% from ₹31.0 crore. ### Krishana Phoschem results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹532 crore | ₹396 crore | +34.3% |
| Profit | ₹47.0 crore | ₹31.0 crore | +51.6% |
| Earnings per share | ₹1.52 | ₹0.99 | +53.5% |
| Operating margin | 17.0% | 17.0% | 0.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 9 April 2026, about January to March 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Krishana Phoschem share price history? Krishana Phoschem closed at ₹240.29 on 4 November 2026, up 136.6% from ₹101.56 a year earlier (7 November 2025) and up 1,335.4% over five years. Its highest weekly close since March 2017 was ₹240.29 on 4 November 2026. ### Krishana Phoschem share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹228.55 | +5.1% |
| 1 month ago · 1 Oct 2026 | ₹184.59 | +30.2% |
| 6 months ago · 8 May 2026 | ₹140.41 | +71.1% |
| 1 year ago · 7 Nov 2025 | ₹101.56 | +136.6% |
| 3 years ago · 3 Nov 2023 | ₹48.99 | +390.5% |
| 5 years ago · 4 Nov 2021 | ₹16.74 | +1,335.4% |
| Earliest weekly close in our records · 3 Mar 2017 | ₹3.51 | +6,745.9% |
| Highest weekly close since March 2017, also the 52-week high · 4 Nov 2026 | ₹240.29 | 0.0% |
| Lowest weekly close since March 2017 · 31 Jan 2018 | ₹3.10 | +7,651.3% |
| 52-week low (weekly close) · 1 Feb 2026 | ₹93.59 | +156.7% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (500 weekly closes from 3 March 2017 to 4 November 2026.)

## What is the latest news on Krishana Phoschem? 4 Nov 2026: Krishana Phoschem closed at ₹240.29, up 5.1% on the week and up 30.2% on the month. Our read, 10 Oct 2026: Commissioned capacity supports further sales, but debt-funded receivables and tax-assisted earnings prevent treating the expansion as a proven cash-return story. ### Earlier

- 3 Jul 2026: Share split: face value cut from ₹10 to ₹2 a share (ex-date). - Results for April to June 2026: Revenue up 34.3% and profit up 51.6% on a year earlier. - 17 Jun 2026: ex-date for a dividend of ₹0.50 a share. - 9 Apr 2026: Krishana Phoschem held its results call for January to March 2026. ### Our read of the business

April to June 2026: Operating growth continues, but financing absorbs part of the benefit. (Our read after the April to June 2026 results, written 10 October 2026.)

## What dividend does Krishana Phoschem pay? Krishana Phoschem paid ₹0.10 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.04% at the ₹240.29 close on 4 November 2026. The last was a dividend of ₹0.50 a share, ex-date 17 June 2026. ### Krishana Phoschem dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 17 Jun 2026 | ₹0.50 | Dividend | same day |
| 26 Aug 2025 | ₹0.50 | Dividend | same day |
| 13 Sep 2024 | ₹0.50 | Dividend | same day |
| 21 Sep 2023 | ₹0.50 | Dividend | same day |
| 20 Sep 2022 | ₹0.50 | Dividend | 21 Sep 2022 |
| 17 Sep 2021 | ₹0.50 | Dividend | 20 Sep 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 1 of the last 12 months' payments came before a split or bonus; the 12-month total above is on today’s share count. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Krishana Phoschem Ltd paid out 2% of its profit as dividends in FY26, and it paid a dividend in 7 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Krishana Phoschem management say on the latest results call? On the call for January to March 2026, held on 9 April 2026, Krishana Phoschem's management spoke about the quarter; the main points are below. > “The 140 crore population of India needs to be fed. Unlike consumer items, you cannot compromise on agricultural output. Farmers must produce, and they need fertilizers. Domestically manufactured products will not face demand pressure. Even if demand were to drop hypothetically, India imports almost 40% of its fertilizer requirements. …”
> Praveen Oswal, Managing Director, on the call for January to March 2026

Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/29250-09-Apr-2026.pdf). (From the call for January to March 2026, 9 April 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of Krishana Phoschem? What is changing in the business? The changes showing up in Krishana Phoschem's own numbers are costs spread over more sales. It is too early to say whether they last. Costs spread over more sales too early to call

Operating profit (profit from the business before interest, depreciation and tax) over the last four quarters was 73 + 70 + 89 + 89 = ₹321 crore against 40 + 44 + 56 + 66 = ₹206 crore a year earlier, up about 56%, while depreciation stayed at ₹8-9 crore a quarter until March 2026. A 50% bigger DAP/NPK plant at Meghnagar started on 1 April 2026; management guides FY27 revenue of ₹2,900-3,000 crore, with teething problems in the first half. Why it may last: The old plants are already at or above 100%, so further gains depend on the new Meghnagar capacity filling up, which has not yet been shown through a full season and comes with higher depreciation and interest. Margins also swing with sulfur and ammonia prices and the subsidy rate; two to three quarters of new-plant utilisation and margin would decide it. What could be flattering it: Revenue inflated by passing through imported fertiliser (trading rose from ₹16 crore to ₹560 crore in a year) and higher raw-material prices, with profit after tax lifted by tax and other income rather than by the plants. Next check: September 2026 quarter revenue above ₹608 crore (the year-earlier figure) with operating margin at or above 12% and operating profit growth outrunning the rise in depreciation plus interest (₹14 crore and ₹21 crore in June 2026). Quarter by quarter, 2 quarters

October to December 2025

Plants at full use; revenue ₹659 crore against ₹304 crore a year earlier and operating profit ₹70 crore against ₹44 crore, with depreciation only ₹9 crore against ₹8 crore. Operating margin still fell (10.64% against 14.56%) because much of the extra sales was low-margin imported product. ✓ fact

From our notes of the call for October to December 2025: Manufacturing operations sustained 100% capacity utilization throughout the quarter, demonstrating operational excellence and demand absorption capability. January to March 2026

March quarter operating profit ₹89 crore against ₹56 crore a year earlier on revenue ₹755 crore against ₹473 crore; depreciation still ₹9 crore. The new capacity went live 1 April. In the June 2026 quarter (no call yet) revenue was ₹532 crore against ₹396 crore and operating profit ₹89 crore against ₹66 crore, operating margin 16.71% against 16.57%, but depreciation jumped to ₹14 crore and interest to ₹21 crore, so profit before tax rose only from ₹51 crore to ₹61 crore. ✓ fact

From our notes of the call for January to March 2026: Capacity expansion now operational (April 1, 2026); teething challenges expected H1 with full utilization aiming for latter quarters. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to January to March 2026, 10 October 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Krishana Phoschem story? What are the risks? The thesis breaks if the completed expansion produces more sales while operating cash remains negative and borrowings continue rising after the promised receivable collection window. ### Each change stops working if

- Manufacturing capacity ramp: New manufacturing capacity remains underused after the guided ramp window, or incremental output requires financing that absorbs its profit contribution. - Pricing and subsidy offset: Feedstock inflation exceeds realized price and subsidy offsets, or collections lag the cash cost of production. - Integrated manufacturing inputs: Purchased feedstock and operating costs erase the integrated production advantage. - Receivable collection: Collections are delayed or replaced by another receivable build as sales expand. ### The main risks

- Tax-assisted earnings and peak returns: The March profit spike contains a non-repeatable estimated tax contribution. ⚠ estimate
- Feedstock pass-through failure: Pricing and subsidy offsets may arrive after input costs must be paid. ⚠ estimate
- Guidance and disclosure reliability: Cross-call assurances changed on trading, margins and working capital. ⚠ estimate
- Per-share and source reconciliation: Summary EPS, financial cells and call labels contain unresolved inconsistencies. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026.)

## What to watch in Krishana Phoschem's next results? When Krishana Phoschem reports July to September 2026, these are the check that show whether the story is still on course. First: September 2026 quarter revenue above ₹608 crore (the year-earlier figure) with operating margin at or above 12% and operating profit growth outrunning the rise in depreciation plus interest (₹14 crore and ₹21 crore in June 2026). | What to check | Why |
| --- | --- |
| September 2026 quarter revenue above ₹608 crore (the year-earlier figure) with operating margin at or above 12% and operating profit growth outrunning the rise in depreciation plus interest (₹14 crore and ₹21 crore in June 2026). | Costs spread over more sales |

## Which stock lists is Krishana Phoschem on? Krishana Phoschem is on 2 of our India lists: Momentum stocks and 52 week high & low. - [Momentum stocks Market cap cr: 7427.910085320498](https://www.sectoralpha.in/momentum-stocks-india)
- [52 week high & low 52-week position: At 52-week high](https://www.sectoralpha.in/52-week-high-stocks-india)

## Is Krishana Phoschem profitable? Krishana Phoschem Ltd earned ₹47.0 Cr of net profit in the Jun 2026 quarter, +51.6% on the same quarter a year earlier. That is the 7th quarter in a row of profit growth. Full-year FY26 profit was ₹180 Cr. Over 10 years profit has grown 68.1% a year on average. That is 8.8% of the quarter's revenue. The same quarter a year earlier earned ₹31.0 Cr. For the full year, FY26 profit was ₹180 Cr (+106.9% on the year before). Why profit moved: revenue changed +34.3% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +88.6% and revenue +78.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Krishana Phoschem make, and is it growing? Krishana Phoschem Ltd reported ₹532 Cr of revenue in the Jun 2026 quarter, +34.3% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 39.1% a year on average. The last full year, FY26, came in at ₹2,416 Cr. Why this happened. The mechanism transfers some input inflation to government support and customer pricing. Announcement alone does not establish realization, and farmer affordability can limit what the company keeps. The June operating result is compatible with margin preservation, but the call predates it and does not prove the cause. Competitor pricing response and realized net prices are unknown. The last four reported quarters add to ₹2,554 Cr. FY26 revenue was ₹2,416 Cr, +78.3% on the year before. Recent pace: the last four quarters grew +78.2% on average, against 39.1% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +73.3%, against +56.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +92.2%, against +108.7% a year (rolling over). ## How much of every ₹100 of sales does Krishana Phoschem keep? Krishana Phoschem Ltd's operating margin was 17.0% in the Jun 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 12.0% and 23.0%. The latest quarter is within that range. Why this happened. Management identifies backward integration as a cost advantage. This can retain part of the manufacturing contribution, but it does not remove exposure to purchased ammonia, sulfur or financing. The benefit already embedded in reported manufacturing economics must not be counted again as a new profit stream. Neither comparative unit costs nor the incremental cash saving is supplied. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed +0.1 percentage points on the year while gross margin changed −4.6 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Krishana Phoschem's profit turning into cash? Over the last 3 years Krishana Phoschem Ltd's operations used more cash than they brought in, so cash conversion was −39%, a gap worth watching. In FY26 its operations used ₹191 Cr of cash, against ₹180 Cr of profit. After ₹112 Cr of spending on assets, free cash was −₹303 Cr: it spent more than its operations brought in. Why this happened. The April summary identifies subsidy and customer receivables and expects settlement. This is a balance-sheet release opportunity rather than additional earnings. Cash belongs to shareholders only after repayment needs and continuing working-capital demands are met. The promised settlement window has passed, but the bundle has no subsequent cash-flow or receivable disclosure to verify delivery. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −39% of profit came in as cash: the cash cycle got 32 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 1.9× depreciation over three years. The next section checks what that spending is building. ## Where does Krishana Phoschem's cash go? Krishana Phoschem Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 126 days in FY26, down from 158 days in FY21. It spent ₹189 Cr on assets over the last 3 years. Customers take 108 days to pay, and stock sits for 65 days on average. Why this happened. The Capex Inflection Point applies to the reported commissioning and dated utilization ramp. Customers benefit from product availability; shareholders retain a benefit only if manufactured sales generate contribution after feedstock, depreciation, financing and collection costs. Imports used to cover the portfolio are part of this same route to customers, not a separate operating-leverage gain. Competitor capacity and customer substitution are not quantified in the bundle. Reported commissioning is delivered according to the summary; the subsequent utilization and cash contribution remain unverified. At FY26 sales of ₹2,416 Cr, each day of that cycle ties up about ₹6.6 Cr, so roughly ₹834 Cr is tied up in the business at any time. FY26: customers took 108 days to pay and stock sat for 65 days, about 2.1 months of sales sitting as stock, for a full cycle of 126 days, shorter than FY21's 158. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 65 days. Customers pay about 108 days after that. Suppliers are paid at 47 days. Together that makes the 126-day cycle. Spending on assets: ₹189 Cr over the last 3 years, against ₹99.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Krishana Phoschem's P/E ratio, and how does it compare with its own history? Krishana Phoschem Ltd's P/E is 37.7×, near the high end of its own history: higher than 79% of past readings. Its usual P/E (the middle reading) is 28.1×, over 9.7 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +108.2% while the price moved +136.6%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +70.4% a year; about +51.4% a year came from earnings growth and about +19.0 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Krishana Phoschem share price assume? Worked out from its price on 11 October 2026, Krishana Phoschem Ltd's share price assumed profit growth of about 17.9% a year. Over the past 10 years its profit actually grew 68.1% a year. Today its P/E is 37.7×, higher than 79% of its own last 9.7 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Krishana Phoschem business getting better or worse? Krishana Phoschem Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +126.7% at its peak to +92.2%, but the business is still expanding, with ROCE rising at 43.5%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Krishana Phoschem story, and has it been checked? Krishana Phoschem Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: PEAK. Still open: The thesis breaks if the completed expansion produces more sales while operating cash remains negative and borrowings continue rising after the promised receivable collection window. Our read, 10 October 2026. Commissioned capacity supports further sales, but debt-funded receivables and tax-assisted earnings prevent treating the expansion as a proven cash-return story. From the numbers. From the price. Price stage 2, week 80, above its 200-day line, relative strength rising. From the research. Commissioned capacity supports further sales, but debt-funded receivables and tax-assisted earnings prevent treating the expansion as a proven cash-return story. Where they disagree. Historical price appreciation also prevents calling the setup undiscovered. What is proven. Commissioned capacity supports further sales, but debt-funded receivables and tax-assisted earnings prevent treating the expansion as a proven cash-return story. What is not proven yet. The thesis breaks if the completed expansion produces more sales while operating cash remains negative and borrowings continue rising after the promised receivable collection window. What would change our mind. The thesis breaks if the completed expansion produces more sales while operating cash remains negative and borrowings continue rising after the promised receivable collection window. The test written in advance. The thesis breaks if the completed expansion produces more sales while operating cash remains negative and borrowings continue rising after the promised receivable collection window. Measured by: the thesis as written as stated by the next result. The test written in advance. Debt-funded cash deficit. Measured by: Debt-funded cash deficit The next cash-flow disclosure remains negative while borrowings increase despite the expected settlement. by the next result. The test written in advance. Tax-assisted earnings and peak returns. Measured by: Tax-assisted earnings and peak returns by the next result. What the company does. The June print shows continuing operating growth, although the latest supplied call predates those results. Manufacturing expansion can add revenue; lower-margin trading, feedstock costs and interest expense determine how much reaches shareholders. What the surface reading misses. The surface reading is: Higher sales and profit appear to validate the expansion. The research reads it further: Operating profit rose with sales at unchanged reported margin, while interest and depreciation increased and taxation fell. The profit outcome combines operating growth with financing and tax offsets. What the surface reading misses. The surface reading is: The reported profit appears to establish a higher recurring run-rate. The research reads it further: Sales and operating profit grew, but a tax credit lifted net profit above the supplied pre-tax profit. Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Krishana Phoschem management deliver what it promised? What Krishana Phoschem Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Strategic Reversal on Fertilizer Trading · 9 April 2026. In the Q4 FY25 call, management explicitly assured shareholders that they do not trade fertilizers within this specific listed corporate entity. However, by the Q4 FY26 call, trading had become a massive component of the company's revenue mix and was cited as the primary reason for a 120 bps year-over-year contraction in consolidated EBITDA margins. Earlier call (May 2025): “Not in this company. We do trading, but not in this company.” Later call (Apr 2026): “Manufacturing revenue was about 1,300 crores and trading was around 560 crores. Trading was 93,000 metric tons and manufacturing was 3,83,000 metric tons.”

Working Capital Guidance Miss · 9 April 2026. Management previously projected confidence that they would tighten their debtor cycle and improve working capital by 10 to 15 days during FY26. Rather than improving, the latest call reveals a massive accumulation of trade and subsidy receivables that swelled to nearly ₹800 crores, which analysts flagged as driving operational cash flow negative for the year. Earlier call (May 2025): “We are aware of some loopholes and are working on them. I’m confident that in FY26, you’ll see an improvement of at least 10 to 15 days.” Later call (Apr 2026): “Subsidy receivable is almost 400 crores and other receivables are in the range of 350-400 crores. These were supplied substantially in the last quarter.”

Base Margin Guidance Breach · 13 January 2026. In the May 2025 call, the CFO explicitly established 12% as a comfortable "base" margin for the company. However, in the January 2026 call, the company reported operating margins of 10.64%, materially breaching this guided floor due to a shift in trading mix. Earlier call (May 2025): “Analyst: Can we consider 12% as our base margins right now? Sunil Kothari: Absolutely, you can consider that comfortably.” Later call (Jan 2026): “While overall operating margins compressed to 10.64% from 14.56% year-on-year... margin compression is purely due to the higher proportion of trading.”

Margin Recovery Outlook Failure · 13 January 2026. During the October 2025 call, management assured shareholders that the margin compression seen in Q2 would be "well compensated" in the upcoming period, anticipating subsidy coverage. Contrary to this assurance, margins compressed further in the January 2026 call, indicating the promised compensation did not offset costs or mix shifts. Earlier call (Oct 2025): “So, we believe that whatever margin drop has occurred in the second quarter should be well compensated in the period ahead.” Later call (Jan 2026): “While overall operating margins compressed to 10.64% from 14.56% year-on-year... we achieved margin expansion of 14-15% within our integrated production line...”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Krishana Phoschem management's track record? Krishana Phoschem has demonstrated a robust track record of meeting and exceeding operational goals. For FY26, the company reported a 78% revenue surge to ₹2,418 Cr and a 109% profit increase to ₹180 Cr, following a 114% profit growth in FY25. Management successfully delivered on its capacity expansion guidance, commissioning the DAP/NPK facility (enhanced to 4.95 lakh MTPA) and Sulphuric Acid plant by the March 2026 deadline. While October to December 2025 saw margin compression to 10.6% due to trading activity, the company maintained high utilization (>100% in some units). For FY27, management has issued aggressive guidance of 40% revenue growth, aiming for a topline of ₹2,900 to 3,000 Cr. ### Regulatory and governance record

Krishana Phoschem Ltd (KRISHANA) maintains a largely clean regulatory profile with no major SEBI, CBI, or ED enforcement actions or fraud allegations identified in the 2024-2026 period. A minor regulatory event occurred on December 22, 2025, when the company was penalized ₹13.49 Lakh by the CGST & Central Excise department for alleged wrongful Input Tax Credit. Corporate governance remains stable, with zero promoter pledging reported as of December 2025 and consistent compliance with SEBI Regulation 74(5). The company, part of the Ostwal Group, reported exceptional financial growth in FY2026, including a 152% year-on-year profit surge. Regulatory actions against 'Radhe Krishna Broking' (2022) are unrelated to this entity. (Checked 20 April 2026.)

## How much does Krishana Phoschem earn on its capital? Krishana Phoschem Ltd earned a ROCE of 27% in FY26. That is up from a low of 7% in FY16. Its return on capital used (ROIC) is 6.7 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.5% net margin and 1.47× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.5% net margin × 1.47× asset turnover × 2.93× leverage (assets divided by equity) ≈ 32.3% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 18.7% − 12.0% = +6.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 18.7% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 21.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Krishana Phoschem have too much debt? Krishana Phoschem Ltd has total debt of ₹733 Cr against shareholder equity of ₹561 Cr as of Jun 2026, so its debt is 1.31× its equity. Year by year, that ratio went from 0.32 in FY22 to 1.31 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Krishana Phoschem shareholding pattern? Promoters raised their stake in Krishana Phoschem Ltd by 1.9 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 72.9% of the company. Foreign institutions moved +0.6 points over the same period, to 0.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: +1.9 points over 8 quarters, to 72.9%; Foreign institutions: +0.6 points over 8 quarters, to 0.6%; Domestic institutions: +0.1 points over 8 quarters, to 0.1%. Why the owners changed: promoters drove it (+1.9 points), together with foreign institutions (+0.6 points). They raised their stake step by step. ## How far is Krishana Phoschem from balance-sheet trouble? For Krishana Phoschem Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Krishana Phoschem rank in its industry? 77.7 out of 100, rank 1 of 15 in Fertilisers, with 96% of the evidence available. Krishana Phoschem Ltd scores 77.7 out of 100 against the 15 companies it is compared with in Fertilisers, ranking 1. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 27.5 + 20.1 + 10.1 + 20 = 77.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Krishana Phoschem compared with? Krishana Phoschem ranks 1 of 15 Fertilisers companies on the 4-Factor Sector Score, with 77.7 out of 100. 1. Krishana Phoschem Ltd this page KRISHANA · leader · Most evidence points up · 96% evidence 77.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 73.3% · Profit 92.2% · Operating margin change 0 points · 88% evidence Capital efficiency 20.1/25 · ROCE 27.2% · Operating margin 17% · 100% evidence Valuation 10.1/20 · P/E 35.9× · PEG 0.58 · 100% evidence Relative strength 20.0/20 · Lead over its industry 83.9% · Lead over NIFTY 500 75.7% · 1 year 126.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 27.5 + 20.1 + 10.1 + 20 = 77.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Gujarat Narmada Valley Fertilizers & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-narmada-valley-fertilizers-chemicals-ltd) GNFC · leader · Most evidence points up · 96% evidence 73.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/35 · Revenue 12.6% · Profit 84.5% · Operating margin change 16.1 points · 88% evidence Capital efficiency 14.7/25 · ROCE 12% · Operating margin 18% · 100% evidence Valuation 15.6/20 · P/E 7.2× · PEG 0.27 · 100% evidence Relative strength 17.6/20 · Lead over its industry 9.8% · Lead over NIFTY 500 5.1% · 1 year 0.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 25.8 + 14.7 + 15.6 + 17.6 = 73.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Madhya Bharat Agro Products Ltd](https://www.sectoralpha.in/stocks/madhya-bharat-agro-products-ltd) MBAPL · leader · Most evidence points up · 96% evidence 67.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.1/35 · Revenue 47.6% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 16.7/25 · ROCE 19.3% · Operating margin 16% · 100% evidence Valuation 7.3/20 · P/E 52.4× · PEG 0.8 · 100% evidence Relative strength 17.9/20 · Lead over its industry 66.5% · Lead over NIFTY 500 59.2% · 1 year 117.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 25.1 + 16.7 + 7.3 + 17.9 = 67 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Chambal Fertilisers & Chemicals Ltd](https://www.sectoralpha.in/stocks/chambal-fertilisers-chemicals-ltd) CHAMBLFERT · quiet · Evidence leans up · 96% evidence 59.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.3/35 · Revenue 15.6% · Profit 10.2% · Operating margin change 3 points · 88% evidence Capital efficiency 19.1/25 · ROCE 25.2% · Operating margin 16% · 100% evidence Valuation 16.6/20 · P/E 7.3× · PEG 0.52 · 100% evidence Relative strength 5.1/20 · Lead over its industry -12.1% · Lead over NIFTY 500 -15.6% · 1 year -26.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 18.3 + 19.1 + 16.6 + 5.1 = 59.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Khaitan Chemicals & Fertilizers Ltd](https://www.sectoralpha.in/stocks/khaitan-chemicals-fertilizers-ltd) KHAICHEM · Too little evidence to rank firmly · 59% evidence 58.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.2/43.75 · Revenue 19.9% · Profit 32.5% · Operating margin change -3 points · 88% evidence Capital efficiency 18.5/31.25 · ROCE 18.5% · Operating margin 11% · 100% evidence Valuation 12.7/25 · P/E 8.3× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 27.2 + 18.5 + 12.7 = 58.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 6. [Zuari Agro Chemicals Ltd](https://www.sectoralpha.in/stocks/zuari-agro-chemicals-ltd) ZUARI · quiet · Evidence leans up · 96% evidence 52.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue -44% · Profit 100% · Operating margin change -1 points · 88% evidence Capital efficiency 10.0/25 · ROCE 16.4% · Operating margin 10% · 100% evidence Valuation 19.9/20 · P/E 2.5× · PEG 0.08 · 100% evidence Relative strength 1.6/20 · Lead over its industry -15.2% · Lead over NIFTY 500 -18.7% · 1 year -27.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21 + 10 + 19.9 + 1.6 = 52.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Rashtriya Chemicals & Fertilizers Ltd](https://www.sectoralpha.in/stocks/rashtriya-chemicals-fertilizers-ltd) RCF · quiet · Evidence leans up · 81% evidence 51.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.4/35 · Revenue 17.5% · Profit 56.8% · Operating margin change 1.3 points · 88% evidence Capital efficiency 7.8/25 · ROCE 10.4% · Operating margin 6% · 100% evidence Valuation 11.4/20 · P/E 12.4× · PEG 0.9 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -22.2% · 1 year -37.3% · 25% evidence · 0 of 12 weeks ahead Exact sum: 24.4 + 7.8 + 11.4 + 7.5 = 51.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Gujarat State Fertilizers & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-state-fertilizers-chemicals-ltd) GSFC · quiet · Evidence leans down · 81% evidence 47.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.0/35 · Revenue 29.2% · Profit 7.8% · Operating margin change -3 points · 88% evidence Capital efficiency 4.9/25 · ROCE 7.2% · Operating margin 6% · 100% evidence Valuation 16.0/20 · P/E 7.7× · PEG 0.3 · 100% evidence Relative strength 9.0/20 · Lead over its industry n/a · Lead over NIFTY 500 -15.2% · 1 year -30.1% · 25% evidence · 0 of 12 weeks ahead Exact sum: 18 + 4.9 + 16 + 9 = 47.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Deepak Fertilisers & Petrochemicals Corp Ltd](https://www.sectoralpha.in/stocks/deepak-fertilisers-petrochemicals-corp-ltd) DEEPAKFERT · quiet · Evidence leans down · 96% evidence 46.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.8/35 · Revenue 13.6% · Profit -0.5% · Operating margin change 7 points · 88% evidence Capital efficiency 13.2/25 · ROCE 11.4% · Operating margin 26% · 100% evidence Valuation 11.1/20 · P/E 14.1× · PEG 0.57 · 100% evidence Relative strength 5.9/20 · Lead over its industry -6.4% · Lead over NIFTY 500 -10.6% · 1 year -26.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 15.8 + 13.2 + 11.1 + 5.9 = 46 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [National Fertilizer Ltd](https://www.sectoralpha.in/stocks/national-fertilizer-ltd) NFL · quiet · Evidence leans down · 81% evidence 45.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 23.3% · Profit 100% · Operating margin change 3.7 points · 65% evidence Capital efficiency 6.2/25 · ROCE 9.1% · Operating margin 6% · 100% evidence Valuation 10.9/20 · P/E 7.9× · PEG 0.97 · 65% evidence Relative strength 4.5/20 · Lead over its industry -15% · Lead over NIFTY 500 -18.4% · 1 year -37.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.8 + 6.2 + 10.9 + 4.5 = 45.4 · What this means: Earnings are strong; relative strength in its sector is -15% and the one-year return is -37.2%. 11. [Paradeep Phosphates Ltd](https://www.sectoralpha.in/stocks/paradeep-phosphates-ltd) PARADEEP · quiet · Evidence leans down · 67% evidence 44.5 out of 100 Growth Capital Valuation Relative
12. [Madras Fertilizers Ltd](https://www.sectoralpha.in/stocks/madras-fertilizers-ltd) MADRASFERT · quiet · Evidence leans down · 74% evidence 43.7 out of 100 Growth Capital Valuation Relative
13. [Southern Petrochemicals Industries Corporation Ltd](https://www.sectoralpha.in/stocks/southern-petrochemicals-industries-corporation-ltd) SPIC · quiet · Evidence leans down · 89% evidence 43.4 out of 100 Growth Capital Valuation Relative
14. [Coromandel International Ltd](https://www.sectoralpha.in/stocks/coromandel-international-ltd) COROMANDEL · quiet · Evidence leans down · 81% evidence 41.8 out of 100 Growth Capital Valuation Relative
15. [Fertilizers & Chemicals Travancore Ltd](https://www.sectoralpha.in/stocks/fertilizers-chemicals-travancore-ltd) FACT · quiet · Most evidence points down · 76% evidence 26.1 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Fertilisers](https://www.sectoralpha.in/sectors/fertilisers), all 15 compared on one page. ## Which companies are close to Krishana Phoschem in size? Krishana Phoschem is the 8th largest of 15 Fertilisers companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Paradeep Phosphates, Madhya Bharat Agro Products and Gujarat Narmada Valley Fertilizers & Chemicals. Just below it: Gujarat State Fertilizers & Chemicals, Rashtriya Chemicals & Fertilizers and National Fertilizer. ### Fertilisers companies close in size

1. [Paradeep Phosphates Ltd](https://www.sectoralpha.in/stocks/paradeep-phosphates-ltd) ₹13,407 crore
2. [Madhya Bharat Agro Products Ltd](https://www.sectoralpha.in/stocks/madhya-bharat-agro-products-ltd) ₹8,127 crore
3. [Gujarat Narmada Valley Fertilizers & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-narmada-valley-fertilizers-chemicals-ltd) ₹7,415 crore
4. Krishana Phoschem Ltd ₹7,065 crore
5. [Gujarat State Fertilizers & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-state-fertilizers-chemicals-ltd) ₹5,311 crore
6. [Rashtriya Chemicals & Fertilizers Ltd](https://www.sectoralpha.in/stocks/rashtriya-chemicals-fertilizers-ltd) ₹5,165 crore
7. [National Fertilizer Ltd](https://www.sectoralpha.in/stocks/national-fertilizer-ltd) ₹2,877 crore

[All 15 Fertilisers companies, largest first](https://www.sectoralpha.in/sectors/fertilisers#all-companies)

### Companies close in size in other industries

1. [Intellect Design Arena Ltd](https://www.sectoralpha.in/stocks/intellect-design-arena-ltd) ₹7,091 crore · IT Product Companies
2. [Aditya Vision Ltd](https://www.sectoralpha.in/stocks/aditya-vision-ltd) ₹7,090 crore · Retail - Electronics
3. Krishana Phoschem Ltd ₹7,065 crore
4. [Sunflag Iron & Steel Company Ltd](https://www.sectoralpha.in/stocks/sunflag-iron-steel-company-ltd) ₹7,064 crore · Steel Products
5. [Indiabulls Limited](https://www.sectoralpha.in/stocks/indiabulls-limited) ₹7,036 crore · Diversified

## What else do people ask about Krishana Phoschem? ### What is Krishana Phoschem's share price today? Krishana Phoschem Ltd's share price is ₹240.29, +136.6% over the past year. The whole company is worth ₹7,413 Cr on the market. It is at its highest price of the past 52 weeks (range ₹94 to ₹240), 56.3% above its 200-day average. The price has been rising for 80 weeks (as of 4 November 2026). ### What were Krishana Phoschem's latest quarterly results? Krishana Phoschem Ltd reported revenue of ₹532 Cr and net profit of ₹47.0 Cr for the Jun 2026 quarter. Revenue rose 34.3% and profit rose 51.6% compared with a year earlier. Earnings per share were ₹1.52. The operating margin was 17.0%, 0.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Krishana Phoschem's market cap? Krishana Phoschem Ltd's market capitalisation is ₹7,413 Cr at a share price of ₹240.29. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Krishana Phoschem performing? Krishana Phoschem Ltd's share price has been rising for 80 weeks. In its latest quarter, revenue rose 34.3% and profit rose 51.6% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 20 weeks running (as of 4 November 2026). ### Will Krishana Phoschem's share price go up? This page does not forecast Krishana Phoschem Ltd's share price. What it shows instead: the share price is ₹240.29, and it has been rising for 80 weeks. Its P/E of 37.7× is higher than 79% of its own last 10 years (as of 4 November 2026). ### Where is Krishana Phoschem in its business cycle? Krishana Phoschem Ltd's FY26 operating margin was 12.0%, against a 13-year range of 12.0% to 23.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 17.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Krishana Phoschem story? The main question: profits are rising, but only −39% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Krishana Phoschem a stock worth studying right now? What the numbers show: Krishana Phoschem Ltd's share price has risen faster than its earnings: +136.6% in a year, against +108.2% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Krishana Phoschem share price forecast for 2026? The changes showing up in Krishana Phoschem's own numbers are costs spread over more sales. It is too early to say whether they last. What would change the story: The thesis breaks if the completed expansion produces more sales while operating cash remains negative and borrowings continue rising after the promised receivable collection window. ### Where does this page get Krishana Phoschem's management information? From Krishana Phoschem's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
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