Madhya Bharat Agro Products Ltd. · NSE:MBAPL
Madhya Bharat Agro Products — Q4 FY2026 Earnings Presentation
33 slides from Madhya Bharat Agro Products's earnings presentation, Apr 18, 2026
Slide 1: Regulation 30 filing cover letter to NSE
Date: 18.04.2026 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: Q4 & FY26 Financial Results Presentation
Madhya Bharat Agro Products Ltd (MBAPL) (A Unit of Ostwal Group of Industries) Q4 & 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 S No. Title Pg No. 1 OVERVIEW 1-8 2 FINANCIAL & OPERATIONAL PERFORMANCE 9-14 4 MARKET OUTLOOK 15-20 5 ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) 21-24 6 CONCLUSION 25
Slide 5: MBAPL Overview
MBAPL Overview Acquired in 2004, transformed from loss making into a powerhouse. Key Metrics ❑ MBAPL, India`s 3rd largest Private sector Phosphatic Fertiliser company with ongoing capacities A+ Crisil & ICRA 19% 9% expansion from 9 lakh MTPA to ~16 lakh MTPA. Chhattisgarh Madhya Pradesh Credit Ratin
Slide 6: FY26 Key Highlights: Peak Performance Year
FY26 Key Highlights: Peak Performance Year Capacity Expansion Financial Highlights ▪ 330K MT SSP(+138% Dhule New Plant) ▪ ₹1,867 Cr revenue Highest ever ▪ 90K MT NPK/DAP (+38%) ▪ ₹ 150 Cr PAT All time High ▪ 363K MT Sulphuric Acid (+220%) ▪ ₹ 17.14 EPS Record High Funded via term loan and internal a
Slide 7: Strengthening Scale Through Capacity Expansion
Strengthening Scale Through Capacity Expansion Fertiliser Capacities (in’000 MT) Intermediates Capacities (in’000 MT) Expansion Commissioned 900 1230 1560 1560 786 885 1347 1347 +138% +88% 220% 66 234 SSP Sulphuric Acid 396 Enhanced 330 Enhanced 330 990 99 168 69 90 660 924 +38% 330 330 363 NPK/DAP
Slide 8: Leading the Industry Through Unmatched Performance and Scale Expansion
Leading the Industry Through Unmatched Performance and Scale Expansion OGI’s Leading Industry positions Best Production Award for SSP Fertilizer Our Returns vs. Industry Average* Plant (5 Year CAGR) INDUSTRY MBAPL India’s First Private Leader in Low- AVERAGE TOP Grade Rock Phosphate Beneficiation Re
Slide 9: Strategic Pillars of Strength
Strategic Pillars of Strength Leading Industry Cost-Efficient Significant Value Extensive Player Investment Driver Integration • Part of OGI which is the 2nd • Only player to relocate • Record of turning • Advantaged with largest SSP fertilizer beneficiation of low- plants and enhance its around sic
Slide 10: Journey So Far
Journey So Far Incorporated in 1997 Commenced was taken over by OGI 2004 2012 Beneficiated Rock with its 60,000 MT SSP Phosphate (BRP) plant in 2004. production Began SSP & Sulphuric Commenced GSSP and 2016 2017 Acid & got listing on Organic Fertilizers NSE SME Emerge. Started NPK/DAP/APS* Migrated
Slide 11: India's only manufacturer with extensively backward-integrated operations
India’s only manufacturer with extensively backward-integrated operations Beneficiated Rock Sulphuric Acid & Single Super SSP Powder & Granular form Phosphate Water Phosphate Annual capacity : 570,000 MT Beneficiation of Low In house Sulphuric grade rock to High acid plant with Phosphoric Acid grade
Slide 12: Strategic Location with continuous expansions
Strategic Location with continuous expansions Fertiliser Capacities (in’000 MT) 60 240 360 480 900 1560 1230 1560 SSP 330 NPK/DAP SSP (Enhanced) 330 990 NPK/DAP (Enhanced) 90 660 330 NPK/DAP (Proposed) 330 Uttar Pradesh 240 240 120 570 570 570 Dahej Seaport 60 240 240 240 240 Gujarat Madhya Pradesh
Slide 13: Q4 & FY26 Performance
Q4 & FY26 PERFORMANCE © ef e2e eee 0 eecececeee io Oo °C Od O 0 0 0 Olam
Slide 14: Chairman's Quote
Chairman’s Quote Commenting on the results for Q4 & FY26, Mr. MK Ostwal- Promoter, Chairman & Director said, “Our sustained exceptional performance validates our relentless drive for excellence.” It gives me immense pride to share that MBAPL has delivered a landmark performance in the financial year
Slide 15: Q4 FY26 Growth & Profitability Snapshot
Q4 FY26 Growth & Profitability Snapshot REVENUE (Rs. Cr) EBIDTA (excl. Other inc.) (Rs. Cr) & Margins (%) PAT (Rs. Cr) & Margins (%) 10.4% 4.8% 5.2% 15.2% 12.2% 10.9% +33.0 % YoY +14% YoY +318.2 YoY 612.4 394.7 66.5 59.8 296.8 36.1 41.2 31.8 14.3 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY
Slide 16: Q4 FY26 Production & Efficiency Snapshot
Q4 FY26 Production & Efficiency Snapshot Fertilizers Capacities Utilization (in tons) Integrations Capacities Utilization (in tons) SSP NPK/DAP BRP (Crushing) Sulphuric Acid Phosphoric Acid 79% 109% 99% 57% 115% 95% 56% 67% 79% 88% 94% 74% 38% 50% 47% 65,340 59,137 69,015 57,144 36,491 38,823 47,549
Slide 17: FY26 Highest Ever Financial Performance
FY26 Highest Ever Financial Performance Revenue EBITDA PAT EPS NPK Sales SSP Sales (₹ Cr) (₹ Cr) (₹ Cr) (₹) (in tons)* (in tons) FY26 1,867 227 150 17.14 2,60,773 2,10,761 76% 55% 161% 161% 68% 15% FY25 6.56 1,83,028 1,059 145 58 1,55,162 *includes subsidized trading volumes Key highlights: ▪ Achiev
Slide 18: Financials Summary
Financials Summary Rs. In Crore Particulars Q4 FY26 Q3 FY26 QoQ% Q4 FY25 YoY% FY26 FY25 YoY% Revenue from operations 394.7 612.4 -35.5 296.8 33.0 1,867.0 1,059.2 76.3 Other income 9.1 2.9 213.8 6.4 42.2 16.9 11.2 50.9 Total income(I+II) 403.8 615.3 -34.4 303.2 33.2 1,883.9 1,070.4 76.0 Expenses Cost
Slide 19: Historical Financial Metrics & Operational Metrics
Historical Financial Metrics & Operational Metrics Financial Performance Trend Revenue (₹ in Cr) EBIDTA (excl. Other income) (Rs. Return on Equity (%) PAT (₹ in Cr) & EPS (₹ ) Cr) & Margins (%) 12% 11% 12% 2.84 6.56 17.14 31.51% 15.24% 1867 1059 227 150 7.30% 817 145 96 58 25 FY24 FY25 FY26 FY24 FY2
Slide 20: Market Outlook
MARKET OUTLOOK © ef e2e eee 0 eecececeee io Oo °C Od O 0 0 0 Olam
Slide 21: Favorable Industry Dynamics Driving Growth
Favorable Industry Dynamics Driving Growth Import Substitution Opportunity Increasing Food Demand & Sustainable Practices ▪ High reliance on imports for complex fertilizers ▪ Rising population driving higher ▪ Strong opportunity for domestic fertilizer intensity capacity expansion ▪ Shift towards ba
Slide 22: Industry Outlook: Kharif 2026
Industry Outlook: Kharif 2026 Demand Environment Pricing Environment ❑ Geopolitical developments in the Middle East may impact global ❑ Favorable monsoon will support fertilizer outlook demand fertilizer trade flows. ❑ ₹18,640 crore PM-KISAN disbursement (Mar’26) supports farmer liquidity ❑ DAP pric
Slide 23: Policy Environment & Favourable Government Initiatives
Policy Environment & Favourable Government Initiatives MSP Boosting Demand Shift to Balanced Nutrition Kharif MSP hikes, along with Policy initiatives like Soil favorable monsoon outlook, Health Card recommendations are expected to support are encouraging a shift from fertilizer demand, driving urea
Slide 24: Market Positioning
Market Positioning Non Urea Consumption (mn MT) FY25 NPKNPK/DAP fertiliserfertiliser consumption consumption across across Indianstates Indian states 32 31 29 28 27 27 25 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 (In ‘000 MT (Include SSP, DAP, MAP, NPK, APS, and MOP) (000’ MT) SSP Cons
Slide 25: Balanced Nutrition: Shifting from Urea-Heavy to True NPK Farming
Balanced Nutrition: Shifting from Urea-Heavy to True NPK Farming India’s nutrient use is skewed to nitrogen – driving a structural push toward NPK & soil health solutions. •Overuse of urea and underuse of P & K are linked to: •Soil nutrient mining & degradation •Declining marginal response to fertil
Slide 26: Food Security Tailwinds: Feeding 1.7 Billion Indians
Food Security Tailwinds: Feeding 1.7 Billion Indians Rising population & higher per-capita food demand = non-negotiable need for yield-enhancing, efficient fertiliser use. Macro & Demand Backdrop: • By 2030, India will need to feed ~1.7 billion people, sharply raising pressure on the food system. •
Slide 27: Environmental, Social & Governance
ENVIRONMENTAL, SOCIAL & GOVERNANCE
Slide 28: Strengthening Sustainable Input Economics
Strengthening Sustainable Input Economics ~108% Structural Cost Advantage In a landmark move for India’s fertilizer sector, MBAPL ~₹53/kg (secured) vs ~₹110/kg (global benchmark), with fixed pricing supported by subsidy-linked protection Phoschem enters a 10-year with SECI to source 1,30,000 Forex S
Slide 29: CSR Initiatives in FY26
CSR Initiatives in FY26 Organizing blood donation camp Driving sustainability through plantation Supporting specially challenged children initiatives Eye check-ups to full-body tests offered Promoting Sportsmanship through Organized medical camps offering in these medical camps Sports Events and Stu
Slide 30: Sustainability
Focus farmer connect and sustainability 01 Focus on quality fertilizer for enrichment of crop Sustainability Strong focus on farmer education and partnerships by MBAPL is committed to sustainable agriculture. The company’s fertilizers are designed to minimize the 02 conducting camps at villages for
Slide 31: Experienced Turnaround Specialist Promoters
Experienced Turnaround Specialist Promoters Mr. M.K. Ostwal Mr. Pankaj Ostwal Mr. Praveen Ostwal Promoter & Director Promoter & Director Promoter, Chairman & Director ▪ More than 4 decades of ▪ C.A. with 25 years of experience ▪ C.A. with 22 years of experience in setting up various in fertilizers,
Slide 32: Conclusion
Conclusion BEST-IN-CLASS PROVEN TRACK METRICS RECORD ▪ Strong operating margins & efficient working ▪ Robust growth with enhanced financial and capital cycle operational performance ▪ Robust return ratios from integrated cost ▪ Reliable execution and strong stakeholder structure trust ENHANCED CAPAC
Slide 33: Thank You
THANK YOU 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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