Mumbai, October 2025 —
Rama Phosphates Limited (RPL) is accelerating growth through its upcoming Dhule Project, a key expansion aimed at enhancing SSP and sulphuric acid production. The company’s strong Q2 FY26 results and long-term contracts underline confidence in achieving its ₹1,000 crore revenue goal.
Dhule Project: Phase-wise Expansion Underway
Rama Phosphates’ Dhule Project in Maharashtra is being developed in two phases to expand fertilizer and acid capacity.
Phase 1: A Single Super Phosphate (SSP) plant of 216,000 MTPA capacity.
Capex incurred till Q2 FY26: ₹30.41 crore
Term loan utilized: ₹0.97 crore
Machinery procured, trial production expected by Q4 FY26
Phase 2: A Sulphuric Acid Plant of 90,000 MTPA capacity.
Estimated cost: ₹30 crore
Construction to begin April 2026, completion expected by March 2027.
The Rama Phosphates Dhule Project will make the company more self-reliant in key raw materials while reducing production costs and import dependence.
Strong Financial Momentum in Q2 FY26
Rama Phosphates posted another record-breaking quarter:
Revenue from operations up 17% YoY
EBITDA surged 149%
Profit before tax increased 326%
PAT jumped 460%
EPS more than quadrupled
The company achieved its third-highest revenue and second-highest profit in history, driven by operational efficiency and strong fertilizer demand.
Strategic Highlights
Renewal of FY26 SSP contract with HURL (~1 lakh MT) ensures stable revenue.
MOP imports boosted performance.
Annual rock phosphate contract protects from currency fluctuations.
ICRA reaffirmed credit rating at A-/Stable.
New fertilizer products — Rama Boron Sampurn, Bharat MOP, Urea SSP, and Micro Gold — received excellent market response.
Future Vision
Rama Phosphates plans to:
Reach ₹1,000+ crore annual turnover.
Focus on complex and non-subsidized fertilizers.
Diversify into industrial chemicals.
Launch P&K fertilizer imports and digital farmer-connect programs.
Partner with agri universities for product innovation.
The Dhule Project remains the cornerstone of this growth strategy.
About Rama Phosphates Limited
Founded in 1984, Rama Phosphates Limited is a multi-product fertilizer and chemical manufacturer.
The company operates plants at Indore, Pune, Udaipur, and Nimbahera, with a combined capacity of 9.14 lakh MT SSP and 3.01 lakh MT sulphuric acid.
Its flagship brands, Girnar and Suryaphul, are trusted by farmers across India.
