Gujarat Narmada Valley Fertilizers and Chemicals Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Expansion

Q2 FY26ANML melt project completion by July 2027Tracked

The 163,000 MT ANML melt project is expected to be completed by July 2027, with upstream and downstream timing aligned.

Margins

Q2 FY26McKinsey cost savings of ~INR 200 crore annualizedTracked

McKinsey has been appointed for phase two to realize cost savings of a couple of hundred crore rupees on an annual basis, expected to flow to P&L over 12 months.

Q3 FY26Kearney cost savings partially lockedTracked

Out of INR 260-300 crore annual savings target, only INR 5-7 crore from renewable power is locked; rest under negotiation.

Revenue

Q2 FY26Fertilizer fixed cost and energy revision expectedActive

Management expects favorable revision in fixed cost and energy norms for urea, which could substantially reduce fertilizer segment losses.

Growth

Q2 FY26TDI production guidance of 67,000 MT for FY26Active

Management is confident of achieving 67,000 MT TDI production for the full year, with H2 covering the Q2 deficit.

Capex

Q3 FY26CCPP project to commission by March/April 2026Active

The captive power plant project is expected to be commissioned by end of March or early April 2026, generating net contribution of INR 82 crore annually.

Q3 FY26Weak Nitric Acid plant delay recoupableTracked

The weak nitric acid project has a slight delay but critical path activities are unaffected; commissioning expected by June 2027.

Other

Q3 FY26No major shutdown in Q4 FY26Active

No planned maintenance shutdown in Q4 FY26; next major annual shutdown is planned in Q2 FY27.