Paradeep Phosphates Limited (PARADEEP)
Large CapChemicals stocks · Large cap · NSE
Paradeep Phosphates Limited (PPL) is India's leading private sector phosphatic fertilizer company with 3.7 MMTPA capacity across three plants. It produces DAP, NPK grades, and Urea, serving over 15 million farmers across 18 states. PPL also has an industrial portfolio of chemicals and other products.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Investable fundamentals, management trust is acceptable, price trend supports entry, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Good · 62/100Rev +36% YoY · PAT +24% YoY · +30% QoQ · margin compression
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹6,124 Cr | +36.0% | +30.2% |
| EBITDA | ₹720 Cr | +24.1% | +62.9% |
| Operating margin | 12.0% | -100 bps | +300 bps |
| PAT | ₹393 Cr | +24.0% | +151.9% |
| PAT margin | 6.4% | -62 bps | +310 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
PPL reported robust FY26 performance with Revenue from Operations up 28.7% YoY to Rs. 218,263 Mn and EBITDA up 33.0% YoY to Rs. 22,594 Mn, driven by improved economies of scale and NPK category growth. Q4 FY26 saw revenue up 12.1% YoY but Net Profit declined 4.7% YoY.
PPL delivered strong full-year financial and operational growth, achieving 100% production capacity and expanding Sulphuric Acid capacity. Management's strategic focus on backward integration and value-added NPK products supports future growth, despite a Q4 PAT decline. The plan to reach 5.0 MMTPA total capacity by FY29 is a key positive.
Value-added NPK category growth
NPK as a category (including TSP) grew by 22% in FY26.
Deepened market penetration
Extensive pan-India distribution network across 18 states, 7,000 dealers, 100,000 retailers, and 15 million farmers.
Strategic capacity expansion
Targeting 5.0 MMTPA total capacity by FY29, up from 3.7 MMTPA in FY26.
Backward integration
Plan to double Phosphoric Acid capacity from 0.5 MMTPA to 1 MMTPA is on track; endeavor to make all sites 100% backward integrated in Phos acid.
Sulphuric Acid Capacity
Commissioned Sulphuric Acid Plants at Paradeep (500,000 MTPA) and Mangalore (100,000 MTPA) in FY26, increasing company-level capacity by 0.6 MMTPA (45%).
Phosphoric Acid Capacity
Plan to double Phos Acid capacity from 0.5 MMTPA to 1 MMTPA is on track.
Integrated manufacturing operations
Reflecting the strength of its integrated manufacturing operations, diversified product portfolio, and efficient sourcing capabilities.
Strong farmer engagement and brand recognition
Extensive pan-India distribution network supported by strong farmer engagement and brand recognition (Jai Kisaan Navratna, Mangala).
Competitive raw material sourcing
Competitive edge in sourcing raw materials via long-term agreements and close proximity to ports, enhancing inbound logistics.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Full-year (FY26) results are crucial for assessing overall performance and strategic direction, best compared YoY. Q4 results, also compared YoY, provide recent performance context. QoQ comparisons are available for financials and show sequential momentum.
Total Fertilizers Production
FY26: 3,666,291 MT, 7.7% Y-o-Y.
Total Fertilizers Sales
FY26: 4,209,890 MT, 10.2% Y-o-Y.
EBITDA Margin
FY26: 10.3%.
Capacity Utilization
PPL achieved production of 37 lakh tonnes in FY26, achieving 100% capacity.
Focus on operational excellence
We remain focused on operational excellence, disciplined execution and sustainable growth.
Serving farming community
Continuing to serve India’s farming community through a diversified product portfolio and strong distribution network.
Backward integration goal
Directionally we endeavour to make all our sites 100% backward integrated in Phos acid.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Phosphoric Acid Capacity Expansion | Plan to double from 0.5 MMTPA to 1 MMTPA is on track. | Progress and commissioning timelines for the Phos Acid capacity doubling. |
| Total Capacity Utilization | Achieved 100% capacity utilization in FY26. | Sustained high utilization rates as new capacities come online. |
| Value-added NPK Growth | NPK (including TSP) grew by 22% in FY26. | Continued strong growth in value-added fertilizer categories. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
68Bullishfull bull SMA stack · SMA20 +7.2% / mo · MACD −
Technical chart
PARADEEPdaily · 1Y · AUTO+42.8%Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 56. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~6.7% over last month) — short-term momentum positive.
- RSI(14) at 56 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 22% off 52W high · 57% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 20.4% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.0%.
- Both 3-month and 6-month returns are positive.
Valuation & score drivers
U-Score 68 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 68 · UNDERVALUED · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
UNDERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Fair-value margin of safety is positive at 68.9%.
- Growth contributes 23/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
- Valuation is weaker at 19/30; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: -6 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 59th percentile of the scored universe and 34th percentile within Chemicals. Main check: cash conversion is weak at 52/100.
Healthy Trust Lite: Promoter holding is 57.9%. Key concern: Operating cash flow is negative at ₹-1012 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Chemicals: 34th pctile, median 73 · Large: 35th pctile, median 73
58 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 57.9%.
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-1012 Cr.
- ▸Debt/equity is 1.02.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 15.00
- P/B
- 2.40
- EV/EBITDA
- 8.55
- Market Cap
- 16305.00Cr
Profitability
- ROE
- 16.20%
- ROCE
- 15.40%
- ROA
- 5.98%
- Dividend Y
- 0.96%
Growth (CAGR)
- Revenue 5Y
- 33.00%
- EPS 5Y
- 35.00%
- Revenue 3Y
- 18.00%
- EPS 3Y
- 48.00%
Balance Sheet
- Debt/Equity
- 1.02
- Interest Coverage
- 4.13×
- Altman Z
- 3.19
- Book Value
- 65.30
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- -1012.00 Cr
- EPS TTM
- 11.22
Shareholding
- Promoter Hold
- 57.86%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 56%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
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Peers
Business-comparable peers in Chemicals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.