Input cost volatility
Sulfur and ammonia prices have risen sharply; if MRP hikes lag, margins could compress, especially in Q1 FY27.
KRISHANAPHOSCHEM / Q4-FY26 / risks
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Krishana Phoschem · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Working capital strain
Receivables increased to ~100 days due to subsidy dues and trading imports; cash flow turned negative in FY26.
Weaker monsoon risk
Skymet forecasts monsoon at 94% of LPA vs 106% last year; could impact fertilizer demand if drought occurs.
Trading margin erosion
Trading margin of ~3% may be wiped out by interest costs (6-7.5%), making the segment unprofitable.