KUALA LUMPUR: Cropmate Bhd, a key player in the conventional and specialty fertiliser manufacturer, delivered a record high quarterly revenue performance driven by stronger fertiliser sales volume and sustained domestic demand.
For Q1 ended March 31, 2026 (FY26), Cropmate recorded revenue of RM58.57 million, representing a 20.5% year-on-year (YoY) increase compared to RM48.62 million in Q1 FY25.
Profit before tax (PBT) rose 11.3% YoY to RM5.53 million, from RM4.97 million previously, while profit after tax (PAT) increased 10.9% YoY to RM4.16 million, compared to RM3.75 million in Q1 FY25.
On a quarter-on-quarter (QoQ) basis, revenue rose 41.7% from RM41.33 million in the immediate preceding quarter ended 31 December 2025, while PBT increased 25.2% from RM4.42 million.
The stronger quarterly performance was mainly attributable to higher fertiliser sales volume during the period.
Domestic sales remained the key anchor of the group’s performance, contributing approximately 96.2% of total revenue in Q1 FY26.
Local sales amounted to RM56.34 million, supported by sustained demand from Malaysia’s agriculture sector, particularly plantation and food crop customers.
Export sales continued to complement the Company’s revenue base, with contributions from markets including Singapore, India, Vietnam, China, Japan and Cambodia.
Managing director Lee Chin Yok said Q1 FY26 marks a strong start to the financial year for Cropmate, with the group delivering record high quarterly revenue and continued earnings growth.
“The performance reflects the resilience of our domestic customer base, the strength of our operating platform, and our ability to respond to market demand despite a volatile input cost environment.
“On the matter involving the Malaysian Anti-Corruption Commission (MACC), we wish to reassure stakeholders that the issue is progressing well.
“The group has appointed solicitors, and some of the bank accounts have been partially released.
“We remain fully committed to cooperating with the relevant authorities while ensuring that our business operations continue with minimal disruption,” he said.
As of March 31, 2026, Cropmate’s total assets stood at RM142.28 million, compared to RM134.94 million as of Dec 31 2025, while shareholders’ equity increased to RM100.20 million from RM96.04 million.
The group’s retained profits also rose to RM57.56 million, reflecting continued earnings accumulation.
Looking ahead, Cropmate remains cautiously optimistic on its prospects for the financial year ending Dec 31 2026.
The global fertiliser market continues to be influenced by geopolitical developments and supply chain volatility, particularly regarding input costs.
To mitigate these challenges, the group continues to diversify sourcing channels, strengthen supplier relationships and maintain adequate inventory levels to support operational continuity.
“Fertiliser demand remains closely tied to the health of the plantation and food crop sectors.
“While external uncertainties remain, supportive regional biodiesel initiatives such as Indonesia’s higher biodiesel blending targets and Malaysia’s gradual B15 implementation are expected to continue supporting crude palm oil prices and plantation sector activity, which may indirectly sustain fertiliser demand.
“Cropmate will continue to focus on operational discipline, supply chain resilience and product innovation to sustain long-term growth and value creation for shareholders,” he said.
