# Shree Pushkar Chemicals & Fertilizers share price today (Shree Pushkar Chemicals & Fertilizers Ltd, NSE: SHREEPUSHK)

> Shree Pushkar Chemicals & Fertilizers share price today: ₹623.10 at the NSE close on 3 November 2026, up 56.1% in a year. Shree Pushkar Chemicals & Fertilizers (NSE: SHREEPUSHK) is worth ₹2,014 crore, trades at a P/E of 27.9 and has closed between ₹298.50 and ₹623.10 over the past 52 weeks. > Shree Pushkar Chemicals & Fertilizers Ltd's share price has risen faster than its earnings: +56.1% in a year, against +19.6% for earnings per share. SHREEPUSHK · Chemicals - Others · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/shree-pushkar-chemicals-fertilizers-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹623.10 (+56.1% in a year)
- P/E: 27.9× (higher than 100% of the last 8.7 years)
- Revenue (Jun 2026): ₹280 Cr (+9.8% on a year ago)
- Profit (Jun 2026): ₹23.0 Cr (+9.5% on a year ago)
- Operating margin: 11.0% (flat on a year ago)
- ROCE: 13%, FY26
- ROIC: 12.1%, against a 12.0% cost of capital: +0.1 points

The main question: the share price moved +56.1% in a year while yearly earnings per share moved +19.6%. The difference came from the market paying a higher multiple. ## What is the Shree Pushkar Chemicals & Fertilizers share price today? Shree Pushkar Chemicals & Fertilizers Ltd's share price was ₹623.10 at the close on 3 November 2026. It has been rising for 23 weeks. That is 49.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹299 and ₹623, 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 19 weeks in a row. Over the last 11 years the share price moved +441% while the NIFTY 500 moved +251%, 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 Shree Pushkar Chemicals & Fertilizers this quarter? Three changes stood out: highest quarterly profit in 15 quarters, highest quarterly revenue in 15 quarters and closed the week at a 52-week high. 1. Highest quarterly profit in 15 quarters Profit of ₹23 crore in the June 2026 quarter is the highest of the last 15 quarters. Why: Profit rose because both businesses got better prices for what they sold, even though they sold less. Next results: check whether Q2 volumes return while higher raw material prices are absorbed, as management expects. From the earnings call on 13 Aug 2026. 2. Highest quarterly revenue in 15 quarters Revenue of ₹280 crore in the June 2026 quarter is the highest of the last 15 quarters. Why: Revenue rose because both the fertiliser and chemical businesses brought in more money from better prices, even though the amount sold fell. From the earnings call on 13 Aug 2026. 3. Closed the week at a 52-week high ₹600.65 on 30 Oct 2026, the highest weekly close in a year. ## What are Shree Pushkar Chemicals & Fertilizers' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Shree Pushkar Chemicals & Fertilizers reported revenue of ₹280 crore, up 9.8% from ₹255 crore a year earlier, and a profit of ₹23.0 crore, up 9.5% from ₹21.0 crore. ### Shree Pushkar Chemicals & Fertilizers results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹280 crore | ₹255 crore | +9.8% |
| Profit | ₹23.0 crore | ₹21.0 crore | +9.5% |
| Earnings per share | ₹7.09 | ₹6.48 | +9.4% |
| Operating margin | 11.0% | 11.0% | 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). Shree Pushkar Chemicals & Fertilizers' management discussed these results on a call held on 13 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Shree Pushkar Chemicals & Fertilizers share price history? Shree Pushkar Chemicals & Fertilizers closed at ₹623.10 on 3 November 2026, up 56.1% from ₹399.25 a year earlier (31 October 2025) and up 185.1% over five years. Its highest weekly close since March 2016 was ₹623.10 on 3 November 2026. ### Shree Pushkar Chemicals & Fertilizers share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹466.30 | +33.6% |
| 1 month ago · 1 Oct 2026 | ₹491.45 | +26.8% |
| 6 months ago · 30 Apr 2026 | ₹395.00 | +57.7% |
| 1 year ago · 31 Oct 2025 | ₹399.25 | +56.1% |
| 3 years ago · 3 Nov 2023 | ₹192.05 | +224.4% |
| 5 years ago · 4 Nov 2021 | ₹218.55 | +185.1% |
| 10 years ago · 4 Nov 2016 | ₹177.90 | +250.3% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹115.10 | +441.4% |
| Highest weekly close since March 2016, also the 52-week high · 3 Nov 2026 | ₹623.10 | 0.0% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹65.40 | +852.8% |
| 52-week low (weekly close) · 20 Mar 2026 | ₹298.50 | +108.7% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Shree Pushkar Chemicals & Fertilizers? 3 Nov 2026: Shree Pushkar Chemicals & Fertilizers closed at ₹623.10, up 33.6% on the week and up 26.8% on the month. 18 Sep 2026: ex-date for a dividend of ₹2.10 a share. ### Earlier

- 13 Aug 2026: Shree Pushkar Chemicals & Fertilizers held its results call for April to June 2026. Management guided: next-year revenue visibility extends to ₹1,700-1,750 crore after a full-year Unit 6 contribution. - Our read, 19 Jul 2026: A capacity-coiled specialty chemicals and fertilizers company where two near-complete plants sit idle by design, management is waiting for raw material costs to normalize before committing new capacity to a market that cannot yet absorb it at economic margins. - Results for April to June 2026: Revenue up 9.8% and profit up 9.5% on a year earlier. ### Our read of the business

Latest quarter: Revenue flat on a year earlier as management halted sales mid-March; profit fell due to deferred tax hit on Ind AS capitalization, not operations. (Our read after the latest results, written 19 July 2026.)

## What dividend does Shree Pushkar Chemicals & Fertilizers pay? Shree Pushkar Chemicals & Fertilizers paid ₹2.10 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.34% at the ₹623.10 close on 3 November 2026. The last was a dividend of ₹2.10 a share, ex-date 18 September 2026. ### Shree Pushkar Chemicals & Fertilizers dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 18 Sep 2026 | ₹2.10 | Dividend |
| 19 Sep 2025 | ₹2 | Dividend |
| 20 Sep 2024 | ₹1.50 | Dividend |
| 22 Sep 2023 | ₹1.50 | Dividend |
| 21 Sep 2022 | ₹2 | Dividend |
| 16 Sep 2021 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Shree Pushkar Chemicals & Fertilizers Ltd paid out 10% of its profit as dividends in FY26, and it paid a dividend in 8 of its last 10 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Shree Pushkar Chemicals & Fertilizers management say on the latest results call? On the call for April to June 2026, held on 13 August 2026, Shree Pushkar Chemicals & Fertilizers' management guided: next-year revenue visibility extends to ₹1,700-1,750 crore after a full-year Unit 6 contribution. > “However, my personal view is that this visibility of 1,250 crores could possibly increase to 1,300-1,400 crores.”
> Puneet Makharia, CMD, on the call for April to June 2026

### What management guided

- FY27 profit margin expected at 8.5-9%; the analyst's higher assumption was rejected. - Q2 performance expected to improve versus Q1 as customers absorb higher raw-material prices and volumes return. - Unit 6 dry trials followed by load trials planned by end-August/September; 4-5 months of FY27 operation expected. - Unit 5 dyes plant capitalization and formal announcement expected soon, with the plant contributing during FY27. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/19124/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 13 August 2026.)

## What could change the Shree Pushkar Chemicals & Fertilizers story? What are the risks? If ammonia prices remain above ₹75 per kg through October to December 2026 with no finished-goods price recovery in H-Acid or SSP fertilizer, and Units 5 and 6 remain uncommissioned, this indicates the raw material shock is structural, the commissioning rationale is permanently impaired and the FY29 ₹2500 crore goal has no credible pathway while the ₹350 crore Meghnagar capital spending draws down cash. ### Each change stops working if

- : Ammonia and sulfur prices remain above ₹75 per kg through October to December 2026 without corresponding finished-goods price recovery in H-Acid or SSP fertilizer, keeping Units 5 and 6 uneconomic for a second consecutive year. - : China reverses the VAT policy or restructures production chains to bypass the export-refund mechanism, restoring their pricing competitiveness versus Indian chemical suppliers. - : New domestic chemical capacity (H-Acid or Vinyl Sulfone) comes online and compresses pricing below the ₹650-700 per kg range, eliminating the pricing premium over input costs. ### The main risks

- : Unit 5 commissioning has slipped 12-plus months across three consecutive concall cycles, from September 2025 to indefinitely deferred, creating a credibility-of-guidance deficit. ✓ fact
- : Bangladesh subsidiary operations paused since February 2026 due to political instability, removing a key dye intermediate export market just as new dye capacity is being readied. ✓ fact
- : Deferred tax from Ind AS asset capitalization will recur in FY27, mechanically compressing reported profit margin below operating performance. ✓ fact

(Our read after the latest results, written 19 July 2026.)

## What to watch in Shree Pushkar Chemicals & Fertilizers' next results? When Shree Pushkar Chemicals & Fertilizers reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Unit 6 dry and load trials by the guided window - check actual commissioning and first operating-season contribution. - What to check (from the call)
- Unit 6 dry and load trials by the guided window - check actual commissioning and first operating-season contribution. - Unit 5 dyes plant formal announcement and first production - check whether it supports chemical-volume recovery. - Q2 fertiliser and chemical volumes to recover as customers absorb input inflation - check whether value growth remains ahead of throughput. - Raw-material availability and supplier arrangements to support higher acid-plant load - check input-price absorption and margin resilience. ## Which stock lists is Shree Pushkar Chemicals & Fertilizers on? Shree Pushkar Chemicals & Fertilizers is on 2 of our India lists: Momentum stocks and 52 week high & low. - [Momentum stocks Market cap cr: 1843.3995187520743](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 Shree Pushkar Chemicals & Fertilizers profitable? Shree Pushkar Chemicals & Fertilizers Ltd earned ₹23.0 Cr of net profit in the Jun 2026 quarter, +9.5% on the same quarter a year earlier. Full-year FY26 profit was ₹70.0 Cr. Over 9 years profit has grown 9.9% a year on average. That is 8.2% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr. For the full year, FY26 profit was ₹70.0 Cr (+18.6% on the year before). Why profit moved: revenue changed +9.8% 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 +9.3% and revenue +17.2%. Profit is growing slower than sales: rising costs are taking part of the growth. FY26-Q4. revenue ₹218 Cr and profit ₹13 Cr as reported. FY27-Q1. revenue ₹280 Cr and profit ₹23 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much revenue does Shree Pushkar Chemicals & Fertilizers make, and is it growing? Shree Pushkar Chemicals & Fertilizers Ltd reported ₹280 Cr of revenue in the Jun 2026 quarter, +9.8% on the same quarter a year earlier. Over 9 years it has grown 13.8% a year on average. The last full year, FY26, came in at ₹977 Cr. The last four reported quarters add to ₹1,002 Cr. FY26 revenue was ₹977 Cr, +21.2% on the year before. Recent pace: the last four quarters grew +17.2% on average, against 13.8% 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 +15.6%, against +16.0% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +7.5%, against +30.9% a year (rolling over). FY26-Q4. revenue ₹218 Cr and profit ₹13 Cr as reported. FY27-Q1. revenue ₹280 Cr and profit ₹23 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Shree Pushkar Chemicals & Fertilizers keep? Shree Pushkar Chemicals & Fertilizers Ltd's operating margin was 11.0% in the Jun 2026 quarter, about the same as the same quarter a year ago. Across 10 years it has been between 8.0% and 17.0%. The latest quarter is within that range. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed +0.0 percentage points on the year while gross margin changed −1.1 points. So the gain came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. revenue ₹218 Cr and profit ₹13 Cr as reported. FY27-Q1. revenue ₹280 Cr and profit ₹23 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## Is Shree Pushkar Chemicals & Fertilizers' profit turning into cash? Over the last 3 years, 94% of Shree Pushkar Chemicals & Fertilizers Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹102 Cr of operating cash against ₹70.0 Cr of profit. After ₹115 Cr of spending on assets, free cash was −₹13.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 94% of profit came in as cash: the cash cycle got 36 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 3.1× depreciation over three years. The next section checks what that spending is building. ## Where does Shree Pushkar Chemicals & Fertilizers' cash go? Shree Pushkar Chemicals & Fertilizers Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 53 days in FY26, down from 89 days in FY21. It spent ₹209 Cr on assets over the last 3 years. Customers take 67 days to pay, and stock sits for 77 days on average. Why this happened. H-Acid prices moved from Rs 525-530 per kg to Rs 750 per kg; Vinyl Sulfone from Rs 240 per kg to Rs 350 per kg (claim C028). Chemical segment OPM has outperformed fertilizer OPM because finished-goods pricing is more elastic. Why this happened. Management guided Rs 500-700 Cr incremental annual revenue from Units 5 (dyes) and 6 (NPK, phosphoric acid, sulfuric acid complex) once commissioned (claim C025). Plants are 90-95% complete and electricity-connected as of March 2026 (claim C026). When input costs normalize, utilization can ramp within one quarter given no infrastructure barrier remains. At FY26 sales of ₹977 Cr, each day of that cycle ties up about ₹2.7 Cr, so roughly ₹142 Cr is tied up in the business at any time. FY26: customers took 67 days to pay and stock sat for 77 days, about 2.5 months of sales sitting as stock, for a full cycle of 53 days, shorter than FY21's 89. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 77 days. Customers pay about 67 days after that. Suppliers are paid at 91 days. Together that makes the 53-day cycle. Spending on assets: ₹209 Cr over the last 3 years, against ₹68.0 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 ₹149 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 Shree Pushkar Chemicals & Fertilizers' P/E ratio, and how does it compare with its own history? Shree Pushkar Chemicals & Fertilizers Ltd's P/E is 27.9×, about the highest it has ever been. Its usual P/E (the middle reading) is 15.3×, over 8.7 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 +19.6% while the price moved +56.1%. 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 +23.3% a year; about +11.4% a year came from earnings growth and about +11.9 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 Shree Pushkar Chemicals & Fertilizers share price assume? Worked out from its price on 20 July 2026, Shree Pushkar Chemicals & Fertilizers Ltd's share price assumed profit growth of about 11.5% a year. Over the past 9 years its profit actually grew 9.9% a year. Today its P/E is 27.9×, higher than 100% of its own last 8.7 years. This is a one-day reading, taken on 20 July 2026. Every other number on this page, the multiple included, uses the latest price as of 3 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 Shree Pushkar Chemicals & Fertilizers business getting better or worse? Shree Pushkar Chemicals & Fertilizers Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +59.5% at its peak to +7.5%, but the business is still expanding, with ROCE steady at 14.8%. 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 Shree Pushkar Chemicals & Fertilizers story, and has it been checked? Shree Pushkar Chemicals & Fertilizers Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 19 July 2026. A capacity-coiled specialty chemicals and fertilizers company where two near-complete plants sit idle by design, management is waiting for raw material costs to normalize before committing new capacity to a market that cannot yet absorb it at economic margins. From the numbers. Segment is BREAKOUT FROM COMPRESSION with NEAR PEAK cycle position…

From the price. Price stage 2, week 23, above its 200-day line, relative strength rising. From the research. A capacity-coiled specialty chemicals and fertilizers company where two near-complete plants sit idle by design, management is waiting for raw material costs to normalize before committing new capacity to a market that…

Where they disagree. OPM at the 29th percentile of own 9.5-year history shows margins have room to recover toward the 11.8% normalized level, conditional on raw material normalization. The EMERGING OPPORTUNITY matrix label is forward-looking: it anticipates Unit 5/6 revenue addition and margin recovery, not the current commodity-depressed state. What is proven. A capacity-coiled specialty chemicals and fertilizers company where two near-complete plants sit idle by design, management is waiting for raw material costs to normalize before committing new capacity to a market that cannot yet absorb it at economic margins. What is not proven yet. If ammonia prices remain above Rs 75 per kg through Q3 FY27 with no finished-goods price recovery in H-Acid or SSP fertilizer, and Units 5 and 6 remain uncommissioned, this indicates the raw material shock is structural, the commissioning rationale is permanently impaired and the FY29 Rs 2500 Cr goal has no credible pathway while the Rs 350 Cr Meghnagar capex draws down cash. What would change our mind. If ammonia prices remain above Rs 75 per kg through Q3 FY27 with no finished-goods price recovery in H-Acid or SSP fertilizer, and Units 5 and 6 remain uncommissioned, this indicates the raw material shock is structural, the commissioning rationale is permanently impaired and the FY29 Rs 2500 Cr goal has no credible pathway while the Rs 350 Cr Meghnagar capex draws down cash. What the company does. FY26 revenue grew 21% to Rs 977 Cr with PAT up 19.6% to Rs 70 Cr and EPS Rs 21.68, despite a deliberate mid-March FY26 sales halt and fertilizer volume cuts that compressed Q4 results, management chose margin over volume at the cost of short-term optics. FY27 revenue guidance was cut to Rs 1250-1300 Cr (from Rs 1500 Cr) due to the deliberate Kharif skip; the long-run FY29 goal of Rs 2500 Cr requires both Units 5/6 and the Rs 350 Cr Meghnagar greenfield, with Rs 140 Cr already held in AAA bonds for the latter. What the surface reading misses. The surface reading is: OPM 10.1% appears mid-range for this company The research reads it further: OPM sits at the 29th percentile of 9.5-year history per cycle normalized, below the through-cycle average of 11.8%. The direction is FALLING per cycle normalized.margin.margin direction. OPM compression is an overhead-absorption and input-cost pass-through lag issue, not a structural gross-margin collapse. What the surface reading misses. The surface reading is: OCF/PAT 1.46x in FY26 signals excellent earnings quality The research reads it further: FY26 OCF recovery follows two years of compression (FY24 0.43x, FY25 0.64x) driven by WC absorption during the capacity build. FY26's 1.46x reflects CCC improvement from 81 to 53 days as inventory days fell, a managed WC release from the deliberate Q4 sales halt, not a structural quality improvement. The 3-year aggregate OCF/PAT of 0.94x per cash decomposition is the more representative long-run figure. Sources: our stock research file (19 July 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 Shree Pushkar Chemicals & Fertilizers management deliver what it promised? What Shree Pushkar Chemicals & Fertilizers 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. FY27 Revenue Guidance Reduced · 13 August 2026. In February 2026, management said its outlook for the following year, FY27, remained at Rs. 1,500 crores and should not be difficult to achieve. In August 2026, management instead described FY27 visibility at 1,250 crores, with a possible increase only to 1,300-1,400 crores, implying a roughly 13%-17% reduction from the earlier outlook. The latest call did not explicitly acknowledge or reconcile this guidance change. Unit 6 Trial Timeline and Delay Rationale Changed · 13 August 2026. In February 2026, management expected Unit 6 trials by March, subject to receiving the electricity connection by February. By August 2026, trials had moved to the end of August or September, a material delay of roughly five to six months. FY27 Revenue Guidance Reduction · 19 May 2026. In the Feb 2026 call, management maintained a firm revenue goal of Rs 1,500 crores for the upcoming fiscal year, asserting it would not be a problem. By the May 2026 call, management reduced this visibility to between Rs 1,250 and 1,300 crores because the company decided to skip the entire Kharif season due to raw material volatility. Commissioning Timeline and Strategy Pivot · 19 May 2026. During the Feb 2026 call, management anticipated beginning trial production at Units 5 and 6 in March 2026, contingent only on the electricity connection. In the May 2026 call, they revealed that despite the electricity issue being resolved in early March, they have since decided to indefinitely delay the trials due to raw material pricing Haywire, intentionally missing the Kharif season. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Shree Pushkar Chemicals & Fertilizers earn on its capital? Shree Pushkar Chemicals & Fertilizers Ltd earned a ROCE of 13% in FY26. That is up from a low of 9% in FY24. Its return on capital used (ROIC) is 0.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.2% net margin and 1.01× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.2% net margin × 1.01× asset turnover × 1.59× leverage (assets divided by equity) ≈ 11.6% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 12.1% − 12.0% = +0.1 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. Positive but thin: it creates value with little room for error. The 12.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 11.0%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Shree Pushkar Chemicals & Fertilizers have too much debt? Shree Pushkar Chemicals & Fertilizers Ltd has total debt of ₹131 Cr against shareholder equity of ₹610 Cr as of Jun 2026, so its debt is 0.21× its equity, which is very little. Year by year, that ratio went from 0.24 in FY22 to 0.21 in FY26. Why this happened. Rs 140 Cr in AAA-rated bonds plus Rs 30 Cr from promoter preferential allotment covers Rs 170 Cr of the Rs 350 Cr Meghnagar capex commitment. Remaining Rs 180 Cr from internal accruals, with optional 25-30% term loan as flexibility buffer (claim C015). CWIP of Rs 149 Cr at Mar 2026 reflects active build that will begin earning once commissioned. So the returns on this page come from the business, not from borrowed money. ## What is the Shree Pushkar Chemicals & Fertilizers shareholding pattern? Foreign institutions cut their stake in Shree Pushkar Chemicals & Fertilizers Ltd by 1.0 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 0.6% of the company. Domestic institutions moved +0.3 points over the same period, to 0.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −1.0 points over 8 quarters, to 0.6%; Domestic institutions: +0.3 points over 8 quarters, to 0.3%; Promoters: +0.1 points over 8 quarters, to 69.5%. Why the owners changed: foreign institutions drove it (−1.0 points). They reduced their stake. ## How far is Shree Pushkar Chemicals & Fertilizers from balance-sheet trouble? For Shree Pushkar Chemicals & Fertilizers 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 Shree Pushkar Chemicals & Fertilizers rank in its industry? 58.5 out of 100, rank 2 of 4 in Chemicals - Others, with 97% of the evidence available. Shree Pushkar Chemicals & Fertilizers Ltd scores 58.5 out of 100 against the 4 companies it is compared with in Chemicals - Others, ranking 2. Relative strength against the index is 59.9%, and revenue and profit growth are weak. The four parts add up to the total exactly: 17 + 9.8 + 11.7 + 20 = 58.5. 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 Shree Pushkar Chemicals & Fertilizers compared with? Shree Pushkar Chemicals & Fertilizers ranks 2 of 4 Chemicals - Others companies on the 4-Factor Sector Score, with 58.5 out of 100. 1. [Petro Carbon & Chemicals Ltd](https://www.sectoralpha.in/stocks/petro-carbon-chemicals-ltd) PCCL · breaking out · Too little evidence to rank firmly · 55% evidence 66.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.3/35 · Revenue n/a · Profit n/a · Operating margin change 8.6 points · 27% evidence Capital efficiency 14.1/25 · ROCE 14.1% · Operating margin 12% · 100% evidence Valuation 10.0/20 · P/E 41.4× · PEG n/a · 0% evidence Relative strength 20.0/20 · Lead over its industry 36.8% · Lead over NIFTY 500 58.1% · 1 year 129.4% · 100% evidence · 11 of 12 weeks ahead Exact sum: 22.3 + 14.1 + 10 + 20 = 66.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 2. Shree Pushkar Chemicals & Fertilizers Ltd this page SHREEPUSHK · breaking out · Evidence leans up · 97% evidence 58.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Revenue 15.6% · Profit 7.5% · Operating margin change 0 points · 100% evidence Capital efficiency 9.8/25 · ROCE 12.9% · Operating margin 11% · 100% evidence Valuation 11.7/20 · P/E 27× · PEG 0.42 · 85% evidence Relative strength 20.0/20 · Lead over its industry 37.1% · Lead over NIFTY 500 59.9% · 1 year 50.4% · 100% evidence · 11 of 12 weeks ahead Exact sum: 17 + 9.8 + 11.7 + 20 = 58.5 · What this means: Relative strength against the index is 59.9%, and revenue and profit growth are weak. 3. [S H Kelkar & Company Ltd](https://www.sectoralpha.in/stocks/s-h-kelkar-company-ltd) SHK · quiet · Most evidence points down · 97% evidence 26.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.9/35 · Revenue 9.8% · Profit -52.4% · Operating margin change 0 points · 100% evidence Capital efficiency 7.7/25 · ROCE 5.8% · Operating margin 13% · 100% evidence Valuation 9.4/20 · P/E 36.7× · PEG 1.38 · 85% evidence Relative strength 0.0/20 · Lead over its industry -24.7% · Lead over NIFTY 500 -11.2% · 1 year -43.3% · 100% evidence · 9 of 12 weeks ahead Exact sum: 8.9 + 7.7 + 9.4 + 0 = 26 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Camlin Fine Sciences Ltd](https://www.sectoralpha.in/stocks/camlin-fine-sciences-ltd) CAMLINFINE · basing · Most evidence points down · 64% evidence 21.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.3/35 · Revenue 9.4% · Profit 100% · Operating margin change -3.2 points · 71% evidence Capital efficiency 3.0/25 · ROCE 4.8% · Operating margin 1.8% · 76% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 0.0/20 · Lead over its industry -42.2% · Lead over NIFTY 500 -31.4% · 1 year -57.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 8.3 + 3 + 10 + 0 = 21.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 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 Jun 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: [Chemicals - Others](https://www.sectoralpha.in/sectors/chemicals-others), all 4 compared on one page. ## Which companies are close to Shree Pushkar Chemicals & Fertilizers in size? Shree Pushkar Chemicals & Fertilizers is the largest of 4 Chemicals - Others companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: S H Kelkar & Company, Camlin Fine Sciences and Petro Carbon & Chemicals. ### Chemicals - Others companies close in size

1. Shree Pushkar Chemicals & Fertilizers Ltd ₹1,949 crore
2. [S H Kelkar & Company Ltd](https://www.sectoralpha.in/stocks/s-h-kelkar-company-ltd) ₹1,735 crore
3. [Camlin Fine Sciences Ltd](https://www.sectoralpha.in/stocks/camlin-fine-sciences-ltd) ₹1,616 crore
4. [Petro Carbon & Chemicals Ltd](https://www.sectoralpha.in/stocks/petro-carbon-chemicals-ltd) ₹1,040 crore

[All 4 Chemicals - Others companies, largest first](https://www.sectoralpha.in/sectors/chemicals-others#all-companies)

### Companies close in size in other industries

1. [Poojaa Precision Engg. Ltd](https://www.sectoralpha.in/stocks/poojaa-precision-engg-ltd) ₹1,961 crore
2. [Repco Home Finance Ltd](https://www.sectoralpha.in/stocks/repco-home-finance-ltd) ₹1,952 crore · Finance - Housing
3. Shree Pushkar Chemicals & Fertilizers Ltd ₹1,949 crore
4. [Macpower CNC Machines Ltd](https://www.sectoralpha.in/stocks/macpower-cnc-machines-ltd) ₹1,948 crore · CNC - Machines
5. [Hester Biosciences Ltd](https://www.sectoralpha.in/stocks/hester-biosciences-ltd) ₹1,947 crore · Pharma - Animal

## What else do people ask about Shree Pushkar Chemicals & Fertilizers? ### What is Shree Pushkar Chemicals & Fertilizers's share price today? Shree Pushkar Chemicals & Fertilizers Ltd's share price is ₹623.10, +56.1% over the past year. The whole company is worth ₹2,014 Cr on the market. It is at its highest price of the past 52 weeks (range ₹299 to ₹623), 49.3% above its 200-day average. The price has been rising for 23 weeks (as of 3 November 2026). ### What were Shree Pushkar Chemicals & Fertilizers's latest quarterly results? Shree Pushkar Chemicals & Fertilizers Ltd reported revenue of ₹280 Cr and net profit of ₹23.0 Cr for the Jun 2026 quarter. Revenue rose 9.8% and profit rose 9.5% compared with a year earlier. Earnings per share were ₹7.09 (as of 3 November 2026). ### What is Shree Pushkar Chemicals & Fertilizers's market cap? Shree Pushkar Chemicals & Fertilizers Ltd's market capitalisation is ₹2,014 Cr at a share price of ₹623.10. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Shree Pushkar Chemicals & Fertilizers performing? Shree Pushkar Chemicals & Fertilizers Ltd's share price has been rising for 23 weeks. In its latest quarter, revenue rose 9.8% and profit rose 9.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 19 weeks running (as of 3 November 2026). ### Will Shree Pushkar Chemicals & Fertilizers's share price go up? This page does not forecast Shree Pushkar Chemicals & Fertilizers Ltd's share price. What it shows instead: the share price is ₹623.10, and it has been rising for 23 weeks. Its P/E of 27.9× is higher than 100% of its own last 9 years (as of 3 November 2026). ### Who owns Shree Pushkar Chemicals & Fertilizers? Promoters own 69.5% of Shree Pushkar Chemicals & Fertilizers Ltd, foreign institutions 0.6%, domestic institutions 0.3% and the public 29.7% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 1.0 percentage points over 8 quarters (as of 3 November 2026). ### Where is Shree Pushkar Chemicals & Fertilizers in its business cycle? Shree Pushkar Chemicals & Fertilizers Ltd's FY26 operating margin was 10.0%, against a 10-year range of 8.0% to 17.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 11.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Shree Pushkar Chemicals & Fertilizers story? The main question: the share price moved +56.1% in a year while yearly earnings per share moved +19.6%. The difference came from the market paying a higher multiple. 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 3 November 2026). ### Is Shree Pushkar Chemicals & Fertilizers a stock worth studying right now? What the numbers show: Shree Pushkar Chemicals & Fertilizers Ltd's share price has risen faster than its earnings: +56.1% in a year, against +19.6% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Shree Pushkar Chemicals & Fertilizers share price forecast for 2026? What management itself guided: next-year revenue visibility extends to ₹1,700-1,750 crore after a full-year Unit 6 contribution. What would change the story: If ammonia prices remain above ₹75 per kg through October to December 2026 with no finished-goods price recovery in H-Acid or SSP fertilizer, and Units 5 and 6 remain uncommissioned, this indicates the raw material shock is structural, the commissioning rationale is permanently impaired and the FY29 ₹2500 crore goal has no credible pathway while the ₹350 crore Meghnagar capital spending draws down cash. ## Lists

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