The Kochi-based FACT currently has a market cap of ₹57,673.53 crore, compared with Coromandel’s ₹56,184.41 crore.
However, there is more to it than meets the eye. FACT’s recent performance has done little to inspire. In the first quarter of FY27, the company incurred a consolidated net loss of ₹61.94 crore, compared with a profit of ₹4.28 crore in the year-ago period.
On the topline front, revenue from operations surged 20.2% year-on-year to ₹1,253.4 crore in the quarter ended June 2026, compared with ₹1,042.8 crore a year earlier. However, operating profitability was weaker, with earnings before interest, taxes, depreciation and amortisation (EBITDA) swinging to a loss of ₹29.8 crore from a profit of ₹23.98 crore in Q1FY26.
| MCap | FY26 PAT | |
| Coromandel | ₹56,750 cr | ₹1898 cr |
| FACT | ₹57300 cr | ₹-40cr |
| FACT Financials | |||
| FY24 | FY25 | FY26 | |
| Margins | 7% | 2.30% | 1.20% |
| PAT | 128 crore | 41 crore | -40 crore |
Although FACT’s market cap has crossed Coromandel’s, the current figure is still lower than its 2024 high mark of ₹70,000 crore.
As for Coromandel, the company also recorded a lacklustre Q1, with consolidated net profit declining 24.6% year-on-year in the first quarter of FY27 to ₹381 crore, from ₹505 crore a year earlier.
So, why is this surge happening?
The surge in FACT’s stock comes as reports suggest that the government has utilised approximately 56% of the annual fertiliser subsidy within the first four and a half months of the current financial year.
FACT is majorly owned by the state, with the Government of India holding a 90% stake and the Special National Investment Fund holding 8.56%. This leaves the company with a 1.44% public float.
According to a Times of India report, the increased expenditure, amounting to ₹99,000 crore, suggests that total spending on fertiliser subsidies may exceed the projected ₹1.77 lakh crore for FY27.
A significant portion of this subsidy, totalling ₹77,871 crore, has been allocated to the import and domestic production of urea, while ₹21,255 crore has been spent on imports and domestic production of diammonium phosphate (DAP), muriate of potash (MoP) and NPKs.In addition, Union Chemicals and Fertilisers Minister J.P. Nadda stressed the need to raise the Indian chemicals sector to $1 trillion by 2040 and said the government is focused on creating an ecosystem to boost investment and increase domestic manufacturing capabilities.
Furthermore, during a meeting with External Affairs Minister S. Jaishankar, Russian President Putin assured the continuation of fertiliser supplies to India. This came in anticipation of Russian President Vladimir Putin’s upcoming visit to India next month.
Stock Performance
The stock surged over 14% today. The company’s shares have fallen over 4% since the beginning of the year and over 14% in the past year.
The stock is about 22% below its 52-week high of ₹1,058.60 and about 33% above its 52-week low of ₹652.10. More than 59 lakh shares of the company have been traded on the stock market today, at 44.24 times the stock’s 10-day average.
