The PLS Group Ltd (ASX: PLS) share price is in focus today after the ASX lithium share announced its update for the March 2026 quarter.
PLS Group is one of the largest lithium miners in the world with projects in Australia and Brazil.
PLS Group March 2026 quarter
The ASX lithium share reported that, compared to the December 2025 quarter, production increased 12% to 232.4kt. The company said this was due to strong execution across its operations, underpinned by improved plant reliability, increased run time and consistently high lithium recovery.
Mining activity increased during the quarter, with total material mined increasing by 22% quarter on quarter, supporting higher production volumes and positioning the operation ahead of the planned Ngungaju Plant recommencement.
It said processing performance was a key driver of the production outcome.
However, sales volumes decreased 16% quarter on quarter to 195.7kt.
Excitingly for shareholders, the sold price for its lithium jumped 61% quarter on quarter to US$1,867. This helped the miner’s revenue rise 52% to A$567 million.
PLS Group reported that its unit operating costs (FOB Port Hedland – excluding freight and royalties) declined 11% to A$520 per tonne. Including freight and royalties (CIF basis), unit operating costs grew 2% to A$733 per donne.
The FOB production costs decreased because of higher production volumes and the benefit of higher capitalised waste. On a CIF basis, there was a slight increase because of higher royalty expenses due to stronger pricing.
Pleasingly, the cash margin from operations soared 178% quarter on quarter to A$461 million. This included the receipt of the US$100 million Canmax offtake prepayment – without that, it would still have roughly doubled.
The strength of the rise in cash led to the cash balance rising 52% quarter on quarter to A$1.45 billion.
Final thoughts on the PLS Group share price
The company continues to invest for potential future growth, with the P2000 and Colina Project feasibility studies continuing to progress.
The business is benefiting from the significant increase of the lithium price, with electric vehicles seeing a massive increase in demand amid the global fuel disruption.
For its own fuel needs, PLS Group said that it’s working closely with long-term contracted suppliers to manage any emerging risks and it doesn’t expect any material disruption to production, or to explosive and processing reagents.
The company reaffirmed all of its guidance metrics for FY26, which I think bodes well for the rest of 2026.
I think the profits of PLS Group have an exciting future, but I don’t know what a good PLS Group share price to buy at is. Will the lithium price decline when global fuel supply returns to normal?
I’d be very happy as a shareholder, but I’d wait for a less supportive environment for lithium prices before buying new shares.
