Indian Potash Limited's FY26 revenue jumped 57% to ₹32,535 crore, driven by a surge in government subsidy income and strong fertiliser volume growth of 36% . However, profit after tax grew only 15% to ₹1,535 crore as finance costs more than doubled to ₹1,177 crore and sugar operating income nearly halved . The company's overseas associate, JPMC, contributed significantly to profitability through dividend income . Total borrowings and trade receivables both roughly doubled, reflecting the working capital intensity of a subsidy-dependent import business .
Indian Potash Limited FY26 Results: Revenue & Performance
IPL's FY26 revenue surged 57% on higher subsidies and volumes, but profit growth lagged at 15% due to soaring finance costs and lower sugar earnings