Madhya Bharat Agro Products Ltd. · NSE:MBAPL
Madhya Bharat Agro Products — Q2 FY26 Earnings Presentation
31 slides from Madhya Bharat Agro Products's earnings presentation, Oct 8, 2025
Slide 1: Exchange filing cover letter for result presentation
Date: 08.10.2025 National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex, Bandra (East) Mumbai-400 051 Company Code: MBAPL Dear Sir/Madam, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
Slide 2: Madhya Bharat Agro Products Ltd Q2 & H1 FY26 Financial Results Presentation
Madhya Bharat Agro Products Ltd (MBAPL) (A Unit of Ostwal Group of Industries) Q2 & H1 FY26 Financial Results presentation
Slide 3: Safe Harbor
Safe Harbor This presentation may contain forward-looking statements regarding future business developments and economic performance. These statements related to Madhya Bharat Agro Products Ltd (MBAPL) are based on current expectations and projections that involve a number of risks and uncertainties
Slide 4: Index
Index Sr no. Title Pg no. 1 OVERVIEW 1 2 FINANCIAL PERFORMANCE 3 3 COMPANY JOURNEY 12 4 PATH FORWARD 18 5 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) 21
Slide 5: Overview
Overview Acquired in 2004, transformed from loss making into a profitable enterprise. Key Metrics ❑ MBAPL, a strong pillar of Ostwal Group of Industries, is India’s exclusive manufacturer of complex fertilizers NPK/DAP, SSP having capacity of ~0.5 million tonnes with full backward integration. ❑ Led
Slide 6: Competitive Advantage
Competitive Advantage Leading Industry Player Significant Value Driver • Record of turning around sick units into cash- • Part of OGI, which is the 2nd largest SSP & generating valuable assets 4th largest Phosphatic fertilizer producer in • Strong execution and capital savings driven India by expert
Slide 7: Q2 & H1 FY26 Performance
Q2 & H1 FY26 PERFORMANCE 3
Slide 8: Chairman's Quote
Chairman’s Quote Commenting on the results for Q2 & H1 FY26, Mr. MK Ostwal- Promoter, Chairman & Director said, “We are delighted to report stellar results for Q2 and H1 FY26, marking another period of remarkable growth and continued operational excellence. Company achieved its Highest-Ever quarterl
Slide 9: Q2 FY26 Financial Performance
Q2 FY26 Financial Performance REVENUE (Rs. Cr) EBIDTA (excl. Other income) (Rs. Cr) & Margins (%) PAT (Rs. Cr) & Margins (%) 13.0% 13.9% 13.7% 5.0% 6.9% 6.8% 450.2 61.8 30.5 409.7 57.0 28.2 278.3 36.3 13.8 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Q2FY25 Q1FY26 Q2FY26 Financial highlights: The Compa
Slide 10: Q2 FY26 Operational Performance
Q2 FY26 Operational Performance Fertilizers Capacities Utilization (in tons) Integrations Capacities Utilization (in tons) SSP NPK/DAP BRP (Crushing) Sulphuric Acid Phosphoric Acid 68% 79% 104% 55% 98% 94% 53% 50% 96% 95% 109% 90% 52% 49% 50% 62,334 58,571 44,792 56,207 45,263 39,327 47,406 36,202 3
Slide 11: H1 FY26 Performance Summary
H1 FY26 Performance Summary PAT EPS NPK/DAP SSP Sales Revenue EBITDA (₹) Sales (in tons) (in tons) (₹ Cr) (₹ Cr) (₹ Cr) H1FY26 860 119 59 6.7 1,16,287 1,18,418 58% 14% 80% 70% 132% 132% H1FY25 479 70 25 2.9 73,806 1,03,975 Financial highlights: The Company delivered record breaking financial perform
Slide 12: Milestone Achievement – Green Ammonia Win
Milestone Achievement – Green Ammonia Win Successful Outcome of Strategic Initiative In August 2025, MBAPL was selected as the preferred buyer of Green Ammonia under SECI’s SIGHT Scheme. Oriana Power and SSC Infra will supply 1.30 lakh MTPA of Green Ammonia to MBAPL plants for 10 years. This milesto
Slide 13: Journey to Ahead – Pillars of Focus
Journey to Ahead The Road Capacities Enhancements – 5 Pillars of Focus Capacity Expansion & Scaling up Self Green Initiative Product Diversification Optimal Capex & Market Presence Sufficiency & Innovation Value Creation • Establishing a 6.6 lakh tonnes • India continues to depend on • Transitioning
Slide 14: Financials Summary
Financials Summary Rs. In Crore Particulars Q2 FY26 Q2 FY25 YoY% Q1 FY26 QoQ% H1 FY26 H1 FY25 YoY% Revenue from operations 450.2 278.3 61.8 409.7 9.9 859.9 478.7 79.6 Other income 1.7 1.7 0.0 3.0 -43.3 4.8 3.3 45.5 Total income(I+II) 451.9 280.0 61.4 412.7 9.5 864.7 482.0 79.4 Expenses Purchase of s
Slide 15: Financial Metrics & Operational Metrics - 5 Years
Financial Metrics & Operational Metrics- 5 Years Financial Performance Trend EBIDTA (excl. Other income) PAT (₹ in Cr) & EPS (₹ ) RoE & RoCE (%) Our Returns vs. Industry Revenue (₹ in Cr) (Rs. Cr) & Margins (%) Enhancing Shareholder Value Average* (5 Year CAGR) ROE ROCE Sep 2016: Listed @ ₹24 | Mcap
Slide 16: MBAPL Journey
MBAPL JOURNEY 12
Slide 17: Journey So Far
Journey So Far 2004 2012 2016 2017 2019 Incorporated in 1997 Commenced was taken over by OGI Began SSP & Sulphuric Migrated to NSE Main Beneficiated Rock Commenced GSSP and with its 60,000 MT SSP Acid & got listing on board of stock exchange Phosphate (BRP) Organic Fertilizers plant in 2004. NSE SME
Slide 18: Journey to Capacities Enhancements
Journey to Capacities Enhancements Fertiliser Capacities (in’000 MT) Intermediates Capacities (in’000 MT) 60 240 360 480 1230 1230 99 132 308 404 423 885 885 99 SSP BRP( Crushing) 168 NPK/DAP Sulphuric Acid SSP Proposed Phosphoric Acid NPK/DAP Proposed 420 Sulphuric Acid Proposed 363 Phosphoric Acid
Slide 19: Strategic Location with regular capacity additions
Strategic Location with regular capacity additions 11 States Covered Marketing Offices 7 Regional Marketing Offices Uttar Pradesh Dahej Seaport Gujarat 2500+ No. of Dealers Madhya Pradesh Hazira Seaport Maharashtra Strategic Location Advantage ▪ Close proximity to markets enables shorter delivery 30
Slide 20: Product Portfolio
Product Portfolio CORE PRODUCTS NEW LAUNCHED PRODUCTS Annadata Super 6 Bharat Urea SSP (Fortified SSP Zinc Boron & Magnesium) (combining the benefits of Urea and SSP) Annadata Zibo (Fortified SSP- Zinc and Boron) 16
Slide 21: Expansion Plans - Status
Expansion Plans - Status Commissioning Project in Progress Project Cost Capacities date (expected) Status & details ▪ DAP/NPK: 3,30,000 MT ▪ Phosphoric Acid: 99,000 MT ▪ Rs.202cr- Term Loan sanctioned by SBI, HDFC, Axis & Federal Fully integrated DAP/NPK Rs.1,100cr. ▪ Sulphuric Acid: 1,98,000 MT Oct
Slide 22: Path Forward
PATH FORWARD 18
Slide 23: Favourable Industry Dynamics Driving Growth
Favourable Industry Dynamics Driving Growth ▪ Strong demand for NPK/DAP ▪ Continued subsidy and freight ▪ Rising population and limited fertilizers driven by their balanced ▪ India continues to depend on support under the Nutrient Based cultivable land are driving higher nutrient composition and cro
Slide 24: Investment Highlights
Investment Highlights HUGE POTENTIAL KEY COMPETITIVE RESULTS-DRIVEN COMPELLING VALUE PRO- NEWER PRACTICES MARKET ADVANTAGE LEADERSHIP TEAM POSITION ▪ Rising fertilizer demand driven by ▪ Extensively backward integrated ▪ Experienced promoters with ▪ Trusted farmer brands – Annadata ▪ Transitioning t
Slide 25: Environmental, Social & Governance
ENVIRONMENTAL, SOCIAL & GOVERNANCE 21
Slide 26: Preserving Environment
Preserving Environment Using Bio Coal Adding Value to Waste ❑ We have proactively transitioned to bio-coal in place of traditional ❑ We capture waste heat from sulphuric acid production to fossil fuels across our key operations generate in-house power via turbine systems ❑▪ This move has significant
Slide 27: CSR Initiatives in H1 FY26
CSR Initiatives in H1 FY26 Organizing blood donation camp Driving sustainability through plantation Supporting specially challenged children initiatives CSR INITIATIVES (IN LAKHS) 0.29 0.2 Promotion of Education 0.5 Health & Enviorment Promotion for Education Enviormental Sustainability Eye check-up
Slide 28: Recognizing excellence of our farmers, channel partners & our team
Journey to Capacities Recognizing excellence ofEnhancements 2nd generation of our farmers, channel partners & our team In honor of our CMD Sh. M.K Ostwal, we have successfully connected with 2nd generation of our farmers, channel partners and our team by recognizing their excellence in academics wit
Slide 29: Sustainability
Focus farmer connect and sustainability 01 Focus on quality fertilizer for enrichment of crop Sustainability Strong focus on farmer education and MBAPL is committed to sustainable agriculture. The company’s fertilizers are designed to 02 partnerships by conducting camps at villages for creating awar
Slide 30: Experienced Turnaround Specialist Promoters
Experienced Turnaround Specialist Promoters Mr. M.K. Ostwal Mr. Pankaj Ostwal Mr. Praveen Ostwal Promoter, Chairman & Director Promoter & Director Promoter & Director ▪ More than 4 decades of ▪ C.A. with 24 years of experience ▪ C.A. with 21 years of experience in setting up various in fertilizers,
Slide 31: Thank You
THANK YOU Email: secretarial@mbapl.com , secretarial@ostwal.in , sourabh@mbapl.com Investor Relation Team Email: ir@mbapl.com MADHYA BHARAT AGRO PRODUCTS LIMTED (A Unit of Ostwal Group of Industries) Corp. Off.: Ostwal Heights, Urban Forest, Atun, Bhilwara (Raj)- 311802 CIN: L24121RJ1997PLC029126
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