New Delhi, Aug. 27 -- The June quarter is when India's fertiliser sector earns its year. Kharif sowing runs from June through August, and the demand curve for urea, DAP, and complex fertilisers peaks sharply in those weeks. What Q1 FY27 revealed is a sector that caught that demand wave - but did not ride it uniformly.

revenue of approximately Rs 6,800 crore, up 17% year-on-year, with EBITDA margins near 13.5% and profit after tax of approximately Rs 640 crore. The Murugappa Group company has spent the last three years building a premium complex fertiliser and crop protection business that is less exposed to subsidy timing than pure urea players. In Q1 FY27, that positioning showed in the earnings quality rather than just the headline num...