Chambal Fertilisers and Chemicals Ltd — Q4 FY26
Chambal Fertilisers reported a strong Q4 FY26 with standalone revenue from operations growing 14% YoY to ₹2,785 crore, EBITDA surging 56% YoY to ₹155 crore (margin 9.16%), and P...
bullish
medium
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
50%Questions answered2Evaded / deflected11Questions audited
Partial answer
High priority
Current gas costs for Q1 FY27
Asked by Aman Kotari, Aquitas Investments
Management gave a range but not a precise number, citing ongoing quarter.
vague range givenno exact number
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Question
the last time we talked uh you said the gas costs were about 20. Can you give us an idea what the current gas costs are looking like for the first quarter?
Management (not named)
They will be around the same number. Uh we are still in the midst of the quarter. Currently what I understand it is 18 plus 18 and a half plus. It may be around the same number.
Evasive
High priority
Reason for jump in receivables and short-term borrowing
Asked by Aman Kotari, Aquitas Investments
Management did not explain the specific drivers of the increase in receivables or borrowing.
no specific reason givendismissed as temporary
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Question
we have seen a jump in receivables... from 367 to uh 2,00 cr uh to 275 receivables and we have also seen an increase in short-term borrowing. So can you give us an idea on what those are?
Management (not named)
The these are some short-term uh as far as short-term borrowings are concerned these are small uh cash flow mismatches which happen but they will be eventually evened out during the course of the year.
Answered
High priority
Risk of receivables bloating like in FY22-23
Asked by Aman Kotari, Aquitas Investments
Management directly denied the risk and gave a clear rationale.
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Question
do you think that uh situation like uh the last time we had this in 22 23 could arrive let's say in terms of receivables bloating up
Management (not named)
no I don't think that is going to happen this government in particular are very clear that uh fertilizer is a very very important sector to support
Answered
High priority
Expected capacity utilization for TAN in current year
Asked by Aman Kotari, Aquitas Investments
Management gave a clear commitment to 75-80% utilization.
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Question
at this current year do you see the capacity reaching to 75 80% that we could have done in a year?
Management (not named)
Yes definitely that Mr. Narendra Goyel has promised me that by all means he will 75 80% uh that is his commitment to me.
Partial answer
Medium priority
Volume growth outlook for complex fertilizers
Asked by Aman Kotari, Aquitas Investments
Management discussed stock coverage but did not directly answer whether volumes will grow.
no explicit volume growth guidance
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Question
do you think in this year uh in terms of volumes do you see that we'll be able to deliver a growth on this because there will be limited availability
Management (not named)
we did make some strategic purchases very big I mean in the beginning of the year and we have covered at least July August in terms of our stocks for complex fertilizers.
Partial answer
High priority
Update on new capex plans (URA plant, TAN expansion)
Asked by Aman Kotari, Aquitas Investments
Management gave readiness update but no specific guidance on timing or final decision.
no timelinedependent on government policy
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Question
I think there were two three ideas that you guys had in mind. I think first one was the URA new plan that we could set up or a tank expansion or a new product line. So is there any further guidance you would like to give on the same?
Management (not named)
The only guidance I would give is that the government looking to the situation... we are very ready in the sense that we have land we have the environmental clearance... we are ready the moment the government pushes the button
Partial answer
Medium priority
Reason for sharp jump in EBITDA per ton for URA in Q4
Asked by Prashant, Byani
Management cited product mix but refused to give ammonia volume, deferring to offline discussion.
ammonia volume not discloseddeferred to offline
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Question
this quarter we have seen a significant growth in AIDA per ton for URA. What has led to this uh sharp jump in the quarter?
Management (not named)
So it is uh more to do with the product mix. We do know that we do sell a certain amount of ammonia. So we had better margins there.
Partial answer
Medium priority
URA sales volume guidance for FY27
Asked by Prashant, Byani
Management gave a vague 'better than last year' but no specific target.
uncertaintyno firm number
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Question
this entire year we had around 3.4 4 million tons of ura sales. Last year it was 3.47. Uh would we be touching around 3.5 uh uh this year?
Management (not named)
we are confident that we will do uh better than last year but we whether we'll touch 35 we will have to uh it's a touch and go there but we will definitely uh exceed what we did this year
Evasive
High priority
Margin range for TAN at full capacity and market outlook
Asked by Manus Baker, SR equities
Management did not provide any quantitative margin guidance, only a qualitative statement.
no specific margin range givenvague 'exceeded'
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Question
can you give some idea about what will be the margin range for the tank when we will operate at the full capacity and how does the market for the tan looks like.
Management (not named)
I think our budgeted numbers are very well there in fact they will be exceeded in terms of what the margins could be and that's my feeling at the moment.
Declined
Low priority
Actual energy consumption (Gcal/MT) for G1, G2, G3
Asked by Sep Mukharji, SKP Securities Limited
Management explicitly declined to provide the numbers, citing policy.
refused to disclose
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Question
what was the uh actual energy consumption decal per metric ton for G1 and G2 and G3 for the year?
Management (not named)
Definitely below the government uh norms by percentage good percentage. So normally we do not reveal these numbers publicly
Partial answer
Medium priority
Revenue guidance for TAN in FY27
Asked by Bashal Takur, Balaji Investment
Management gave a per-ton price but no total revenue guidance.
no total revenue figureonly per-ton price
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Question
Can you give me some guidance about the turnover you're expecting in this financial year?
Management (not named)
it will revenue guidance is dependent on what the number is budgeted number normally for this is about uh 38 about 37 38,000 rupees a ton that is the normal number that you might think about
Partial answer
High priority
TAN utilization in first year and market tightness
Asked by Vaj, Simple
Management discussed market tightness but did not commit to a utilization percentage.
no specific utilization target
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Question
would we be able to reach a 60 70% or even higher utilization in the first year itself and any color on the market dynamics
Management (not named)
market at the moment is short I think the people want material... I don't see in terms of production why we should have an issue