Gujarat State Fertilizers & Chemicals Ltd (NSE:GSFC)

Q3 2026 Gujarat State Fertilizers & Chemicals Ltd Earnings Call Transcript

Feb 10, 2026 / 10:00AM GMT

Release Date Price: ₹182.09 (+0.17%)

Transcript

Key Points

Positve

Gujarat State Fertilizers & Chemicals Ltd (BOM:500690) achieved the highest Q3 production in five years with 5.07 lakh metric tonnes.
Revenue growth was strong, with a 5% year-on-year increase, amounting to INR139 crores.
Profit after tax saw an impressive 32% improvement, rising by INR38 crores.
The company maintained a strong balance sheet with no long-term debt and adequate liquidity.
The commissioning of the Sulfuric Acid 5 project is expected to provide incremental capacity and cost efficiency benefits.

Negative

Segment EBIT for fertilizers decreased from INR126 crores to INR119 crores due to sharp escalation in raw material costs.
The Caprolactam-Benzene spread declined, impacting profitability in the Industrial Products segment.
Q4 is expected to be a lean season for the fertilizer industry, with limited sales and margins.
High prices of key inputs like phosphoric acid and sulfur continue to exert cost pressures.
The company faces challenges in maintaining profitability due to market volatility and raw material price fluctuations.

Operator

Ladies and gentlemen, good day, and welcome to the Gujarat State Fertilizers & Chemicals Limited, GSFC conference call for Q3 FY26 earnings. This call is being hosted by Anurag Services LLP on behalf of GSFC Limited. From the management, we have Mr. SK Bajpai, Senior VP, Finance and Legal and CFO; Mr. SV Varma, Executive Director, Agri Business, HRS and IR; and other senior members from the management. (Operator Instructions)

I now hand the conference over to Mr. SK Bajpai, Senior VP, Finance and Legal and CFO, GSFC Limited. Thank you, and over to you, sir.

Sanjay Bajpai

Gujarat State Fertilizers & Chemicals Ltd - Senior Vice President, Finance & Legal and Chief Financial Officer

Yeah. Good afternoon, everyone. Thank you for joining us for quarter three, 2026 earnings call of Gujarat State Fertilizers & Chemicals Limited. It's always great to connect with all of you and share the key updates that we have from the quarter. I hope that you had a chance to review the financial results, media release, and investor presentation available on

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