Total expenses soared 118.54% to Rs 564.58 crore in Q3 FY26 from Rs 258.34 crore in Q3 FY25. Cost of material consumed stood at Rs 633.20 crore (up 199.26% YoY), employee benefit expenses was at Rs 13.08 crore (up 68.34% YoY) and finance cost stood at Rs 9.40 crore (up 73.11% YoY) during the period under review.

On nine month basis, the company’s standalone net profit soared 109.21% to Rs 90.42 crore in 9M FY26 from Rs 43.22 crore in 9M FY25. Revenue from operations jumped 93.12% YoY to Rs 1,472.26 crore in 9M FY26.

Meanwhile, the company’s board granted in-principal approval for expansion of additional capacity. Including a 3,30,000 TPY DAP/ NPK plant with 66,000 TPY phosphoric acid and 3,96,000 TPY sulphuric acid plants, at Dhule, Maharashtra. Detail financial and other plans are currently being worked out.

Madhya Bharat Agro Products (MBAPL) is an Indian fertilizer and chemical manufacturing company and a part of the Ostwal Group of Industries. The company is primarily engaged in the manufacture and sale of phosphatic fertilizers, including Single Super Phosphate (SSP), DAP, and NPK complexes, along with key intermediates such as beneficiated rock phosphate, sulphuric acid, and phosphoric acid.

The counter declined 2.70% to Rs 434.65 on the NSE.