Sustained softness in IPA pricing
IPA prices have corrected ~22-23% YoY due to weak acetone prices and imports; management expects muted sentiment to continue for at least a couple of quarters.
DEEPAKFRTLSRSANDPTRCHMCL / Q3-FY26 / risks
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Deepakfrtlsrsandptrchmcl · Material risks, their source context, and severity in the latest available quarter.
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Increased competition from new TAN capacity
Analyst raised concern about 500 KTPA additional TAN capacity from Chambal and GNFC by FY27-28, which could create supply glut and pressure margins.
Nitric acid pricing pressure from imports
Excess imports and dumping from abroad have kept nitric acid prices under pressure, though management views this as a short-term phenomenon.