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View Claim Ledger →Deepakfrtlsrsandptrchmcl Ltd — Q2 FY26
Deepak Fertilizers reported Q2 FY26 revenue of ₹3,600 crore, up 9% YoY, driven by strong volume growth in TAN (29% YoY) and crop nutrition (54% YoY).
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Deepak Fertilizers reported Q2 FY26 revenue of ₹3,600 crore, up 9% YoY, driven by strong volume growth in TAN (29% YoY) and crop nutrition (54% YoY). EBITDA stood at ₹464 crore, with PAT stable at ₹214 crore. The chemical segment was impacted by weak IPA and ammonia prices, dragging overall margins. Management highlighted early signs of ammonia price recovery (now >$400/MT) and expects margin normalization in H2. The TAN project at Gopalpur is 87% complete and nitric acid project at 70%, both on track for Q4 commissioning. Risks include continued IPA margin pressure from global oversupply and potential delays in ammonia plant turnaround benefits.
दीपक फर्टिलाइजर्स ने दूसरी तिमाही (जुलाई-सितंबर 2025) में 3,600 करोड़ रुपये की कमाई की, जो पिछले साल से 9% ज्यादा है। यह बढ़ोतरी टीएएन (खाद बनाने का रसायन) और फसल पोषण उत्पादों की जोरदार बिक्री से हुई। कंपनी ने 464 करोड़ रुपये का परिचालन लाभ कमाया और मुनाफा 214 करोड़ रुपये रहा। हालांकि, रसायन खंड पर आइपीए (एक रसायन) और अमोनिया के कम दामों का असर पड़ा। प्रबंधन का कहना है कि अमोनिया के दाम अब 400 डॉलर प्रति टन से ऊपर आ गए हैं, जिससे दूसरी छमाही में मुनाफा सुधरने की उम्मीद है। गोपालपुर में टीएएन प्रोजेक्ट 87% और नाइट्रिक एसिड प्रोजेक्ट 70% पूरा है, जो मार्च तक चालू हो जाएंगे। जोखिम: आइपीए पर दुनिया भर में ज्यादा आपूर्ति से दबाव बना रह सकता है।
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IPA margin pressure from global oversupply
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TAN sales volume
137 KT
+29% YoY
TAN volume grew to 137 KT in Q2, driven by full capacity utilization and strong demand.
Crop tech revenue growth
54%
+54% YoY
Crop tech specialty products grew 54% YoY, reflecting strong farmer adoption.
Specialty revenue share (H1)
22%
+? pp YoY
Specialty products contributed 22% of H1 revenues, up from previous year.
Ammonia price (Q2 avg)
$300/MT
down vs last year
Middle East ammonia prices averaged $300/MT in Q2, significantly below last year.
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Guidance and risk preview
The TAN project at Gopalpur is 87% complete and nitric acid project at 70%, both on track for commissioning by end of Q4 FY26.
IPA segment faces margin pressure due to global oversupply and US imports after anti-dumping duties on China, with no near-term recovery visibility.
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