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Deepak Fertilizers and Petrochemicals Corporation Limited (DEEPAKFERT)

₹1,344.10 +2.68% last close, 16 Oct

📊 NSE: DEEPAKFERT 🏢 Chemicals 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Deepak Fertilizers' revenue was ₹3,256 Cr (+22.5% year on year, +8.1% on the previous quarter), and net profit ₹490 Cr (+101.0% year on year); the operating margin was 26.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹3,256	+22.5%	+8.1%
Operating profit	₹845	+64.8%	+138.8%
Net profit	₹490	+101.0%	+252.5%
EPS (₹)	38.82	+101.6%	+251.6%
Operating margin	26.0%	—	—

Full quarterly financials → Results calendar →

DEEPAKFERT delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 40.8% of the DEEPAKFERT shares traded on NSE were taken to delivery, against the stock's own 20-session average of 45.93%. That is close to its usual level.

40.8%Delivery, 16 Oct

45.93%Own 20-session average

1.0×Volume vs its average

₹1,344.10NSE close · +2.68%

Delivery in the last 5 sessions: 47.3% · 54.2% · 51.4% · 49.4% · 40.8%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

ICRA Reaffirms Deepak Fertilisers at [ICRA]AA-, Revises Outlook to Positive for ₹2,186 Cr Loans

🟢 POSITIVE ⭐ 9/10

OTHER 📅 15 Oct 2026, 07:05 PM

ICRA has reaffirmed Deepak Fertilisers and Petrochemicals Corporation Limited's long-term fund-based term loan rating at [ICRA]AA- and revised its outlook from 'Watch with Developing Implications' to 'Positive'. The rating covers ₹2,186.00 crore of term loan facilities. The positive outlook is supported by commencement of gas supplies under the Equinor contract, which stabilizes ammonia output and improves margins, alongside near-complete capex projects. Major capex includes the 376 KTPA TAN project at Gopalpur (₹2,675 crore cost, ~95% complete) and the Dahej nitric acid project (₹1,983 crore cost), both targeted for commissioning in Q3 FY2027.

Outlook revised to Positive from Watch with Developing Implications; [ICRA]AA- rating reaffirmed on ₹2,186.00 crore term loans
Gopalpur TAN project (376 KTPA, ₹2,675 crore planned cost) was ~95% physically complete as of June 2026, with ₹2,251 crore already incurred
Dahej nitric acid expansion (300 KTPA weak / 150 KTPA concentrated nitric acid) planned at ~₹1,983 crore, targeting Q3 FY2027 commissioning
Total ammonium nitrate capacity will expand to ~1.0 MMTPA upon completion of the Gopalpur plant
MAL tax dispute update: pending quantum demand and residual penalty appeal of ₹96.04 crore for AY2015-16 remain before CIT(A)

💡 Monitor commissioning timelines and production ramp-up for both the Dahej nitric acid plant and Gopalpur TAN facility in Q3/Q4 FY2027, as well as upcoming NBS subsidy announcements.

Deepak Fertilisers Submits Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 06:28 PM

Deepak Fertilisers and Petrochemicals Corporation Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent KFin Technologies Limited confirms that dematerialisation requests received were confirmed or rejected within 15 days. It further confirms that security certificates were mutilated, cancelled, and the depository's name substituted in company records. This filing is entirely procedural and has no financial or operational impact.

Compliance certificate issued for the quarter ended 30th September, 2026
Dematerialisation requests confirmed or rejected within 15 days of receipt
Certificate issued by Registrar and Share Transfer Agent KFin Technologies Limited
Filed with BSE and NSE on 6th October, 2026

💡 Track the upcoming Q2 FY27 earnings release and corporate updates for fundamental developments; no action required on this filing.

SEBI Issues Administrative Warning to Deepak Fertilisers Over Historical LODR Non-Disclosures

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 01 Oct 2026, 04:49 PM

Deepak Fertilisers and Petrochemicals Corporation Limited received an administrative warning and advisory letter dated September 30, 2026, from SEBI's Corporation Finance Department. The warning pertains to historical disclosure lapses between FY 2018-19 and FY 2021-22 regarding subsidiary investments/guarantees and material income-tax litigations. The company stated that the matters are historical, were reflected in past Annual Reports, and carry no material impact on its operations or financial performance. SEBI has directed the company to place the letter before its Board of Directors and submit their comments on corrective measures.

SEBI letter dated September 30, 2026, received via email on September 30, 2026 at 3:15 p.m.
Lapses involve non-disclosure of investments and guarantees to wholly owned subsidiaries under Regulation 30(2)
Non-disclosure of certain Income-tax Act litigations exceeding materiality thresholds under Regulation 30(1)
Pertains to historical periods covering FY 2018-19 through FY 2021-22
Company confirmed no material financial or operational impact arises from this warning

💡 Track the upcoming Board meeting comments and internal governance enhancements submitted to SEBI to confirm closure of the matter.

Deepak Fertilisers CS & Compliance Officer Rabindra Purohit Resigns Effective 28 Sep 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 28 Sep 2026, 06:14 PM

Deepak Fertilisers and Petrochemicals Corporation Limited has informed the exchanges that Mr. Rabindra Purohit, Vice President – Legal, Company Secretary & Compliance Officer (KMP), has resigned to pursue outside opportunities. The resignation was tendered via letter dated 1st August 2026 and takes effect at the close of business hours on 28th September 2026. The company stated it is taking steps to appoint a successor within statutory timelines, and no material reasons were cited other than career progression.

Rabindra Purohit resigned as VP – Legal, Company Secretary & Compliance Officer effective close of business 28th September 2026
Resignation letter was originally tendered on 1st August 2026 to pursue external opportunities
Company is in the process of appointing a replacement KMP within the statutory timeline
The outgoing officer confirmed no other material reasons existed for the departure

💡 Track the upcoming regulatory filing regarding the appointment of the new Company Secretary and Compliance Officer.

Deepak Fertilisers Shareholders Approve All 6 AGM Resolutions With Over 99% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 05:12 PM

Deepak Fertilisers and Petrochemicals Corporation Limited announced the voting results of its 46th Annual General Meeting held on September 1, 2026. Shareholders approved all 6 ordinary resolutions with overwhelming support, including the adoption of FY26 financial statements and the declaration of dividend. Other approved agenda items include the re-appointment of director Mr. Madhumilan Parshuram Shinde, appointment of Mr. Yeshil Sailesh Mehta as Non-Executive Non-Independent Director, and the re-appointment of statutory auditors P G Bhagwat LLP for a 5-year term. Total voter turnout stood at 68.12% of total voting capital (85,991,358 votes polled out of 126,237,825 total shares).

All 6 resolutions passed with 99.65% to 100.00% votes in favor across remote e-voting and Insta Poll
Shareholder turnout reached 68.12% with 85,991,358 total valid votes cast out of 126,237,825 outstanding shares
Dividend on equity shares for FY26 formally approved by 100.00% of votes polled (85,991,353 votes in favor vs 5 against)
P G Bhagwat LLP re-appointed as Statutory Auditors for a second term of 5 years with 99.88% approval

💡 Track the upcoming dividend disbursement timelines and monitor subsequent quarterly earnings reports for operational progress.

Deepak Fertilisers Bifurcates Manufacturing Leadership; Appoints Amir Alvi as President Operations

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 01 Sep 2026, 08:26 PM

Deepak Fertilisers and Petrochemicals Corp. Ltd. has restructured its manufacturing leadership into two distinct roles effective September 1, 2026. Mr. Amir Alvi, who brings over 36 years of industry experience including roles as COO (Fertilizers) at Coromandel International and 23 years at Tata Chemicals, has been appointed as President - Manufacturing Operations (Senior Management Personnel). Concurrently, Mr. Pandurang Landge, previously President - Manufacturing with 44 years of experience, has been redesignated as President - Manufacturing Excellence & Technology Development.

Appointed Mr. Amir Alvi as President - Manufacturing Operations effective September 1, 2026
Mr. Amir Alvi brings 36+ years of chemical and fertiliser experience, having previously served as COO at Coromandel International and 23 years at Tata Chemicals
Redesignated existing President - Manufacturing, Mr. Pandurang Landge (44 years experience), as President - Manufacturing Excellence & Technology Development effective September 1, 2026
Manufacturing leadership bifurcated into two separate focus areas: Operations vs Excellence & Technology Development

💡 Track operational execution and manufacturing efficiency gains in upcoming quarters as new leadership assumes operational responsibilities.

Deepak Fertilisers Concludes 46th AGM; ₹4,650 Cr Capex Projects Near Full Completion

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 01 Sep 2026, 08:11 PM

Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) concluded its 46th Annual General Meeting on September 1, 2026, approving standard resolutions and a 100% dividend. Management highlighted that its major strategic capital projects—the Gopalpur TAN project and Dahej Nitric Acid expansion (combined outlay of ~₹4,650 Cr, representing ~38% of TTM revenue)—have reached 96% and 93% completion, respectively. The Nitric Acid expansion will scale capacity to ~1.7 MMTPA, making DFPCL Asia's largest manufacturer, with 65% of CNA capacity locked under a 20-year contract. Net debt decreased to ₹4,719 Cr as of June 2026 with a Net Debt/Equity ratio of 0.60x.

Combined capex outlay of ~₹4,650 Cr across Gopalpur TAN (96% complete) and Dahej Nitric Acid (93% complete)
Nitric Acid capacity set to reach ~1.7 MMTPA, positioning the company as Asia's largest manufacturer with 65% CNA tied up in a 20-year contract
Net debt reduced to ₹4,719 Cr in June 2026 from ₹4,824 Cr in March 2026, moderating Net Debt/Equity to 0.60x
Recommended and approved a 100% dividend for FY 2025-26

💡 Track commercial commissioning dates and ramp-up timelines for the Gopalpur TAN and Dahej Nitric Acid plants over upcoming quarters.

Deepak Fertilizers Issues KYC Update Reminder for Physical Shareholders per SEBI Norms

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 06:30 PM

Deepak Fertilizers has issued a formal reminder to shareholders holding securities in physical form to update their KYC details, including PAN, bank account information, and nominations. This action follows the SEBI Master Circular dated February 6, 2026, which mandates these updates for all physical holdings. Shareholders who fail to comply will be ineligible to receive dividends or lodge service requests with the Registrar and Transfer Agent (RTA). The company has designated Kfin Technologies Limited to manage these updates.

Compliance with SEBI Master Circular No. HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 dated 6th February, 2026
Mandatory submission of Form ISR-1 for PAN and KYC, and Form SH-13 for Nomination
Dividend payments for non-compliant folios will only be processed electronically after KYC completion
Registrar and Transfer Agent (RTA) for the process is Kfin Technologies Limited
Company TTM revenue stands at Rs 11,506 Cr with a market cap of Rs 18,940 Cr

💡 Shareholders holding physical certificates should immediately download the prescribed forms from the company website and submit them to Kfin Technologies to ensure uninterrupted dividend payments. No action is required for investors holding shares in dematerialized (demat) form.

Deepak Fertilisers Issues KYC and Nomination Reminder to Physical Shareholders

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 06:22 PM

Deepak Fertilisers has issued a reminder to shareholders holding shares in physical form to furnish mandatory KYC details, including PAN, bank account information, and nomination. This action follows the SEBI Master Circular dated February 6, 2026. Shareholders who fail to update these details will be ineligible to lodge grievances or receive dividends, which have been payable only via electronic mode since April 1, 2024. The company has engaged Kfin Technologies Limited as the Registrar and Transfer Agent (RTA) for this process.

Compliance with SEBI Master Circular No. HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 dated February 6, 2026
Mandatory furnishing of PAN, bank details, email, mobile number, and nomination for physical security holders
Dividends and other payments are payable only through electronic mode effective from April 1, 2024
Service requests and grievances will only be processed by the RTA after complete KYC documentation
Prescribed forms ISR-1, ISR-3, and SH-13 are available on the company and RTA websites

💡 Shareholders holding physical certificates should immediately submit the required KYC forms to Kfin Technologies to ensure uninterrupted receipt of dividends and corporate communications. No action is required for investors holding shares in dematerialized form.

₹10 Dividend Declared; Deepak Fertilizers Schedules 46th AGM for Sept 1, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 09 Aug 2026, 04:45 PM

Deepak Fertilizers has issued a notice for its 46th Annual General Meeting (AGM) to be held on September 1, 2026. Key agenda items include the approval of a ₹10 per share dividend for FY26 and the appointment of Mr. Yeshil Sailesh Mehta (son of the CMD) as a Non-Executive Director. The company also proposes re-appointing its statutory auditors for a second five-year term. This meeting follows a year where the company reported TTM revenue of ₹11,506 Cr and a PAT of ₹738 Cr.

Dividend of ₹10 per equity share (100% of face value) recommended for the financial year ended March 31, 2026.
Appointment of Mr. Yeshil Sailesh Mehta, an MBA from Harvard Business School, as a Non-Executive Non-Independent Director.
Re-appointment of M/s. P G BHAGWAT LLP as Statutory Auditors for a second term of 5 consecutive years until 2031.
Ratification of Cost Auditors' remuneration at ₹2,50,000 for the financial year ending March 31, 2027.
Mr. Yeshil Sailesh Mehta holds 1,15,000 equity shares, representing 0.09% of the total equity capital.

💡 Investors should note the dividend payment timeline following the AGM and monitor the induction of the next generation of the promoter family into the board for long-term leadership continuity.

Deepak Fertilizers schedules 2 investor conferences for August 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Aug 2026, 05:19 PM

Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL) has announced its participation in two upcoming institutional investor conferences in Mumbai. The company will attend the EMKAY Confluence 2026 on August 12, 2026, and the Motilal Oswal 22nd Annual Global Investor Conference on August 19, 2026. These are physical meetings where company officials will interact with analysts and investors. The company has clarified that no unpublished price-sensitive information (UPSI) will be shared during these sessions.

Participation in EMKAY Confluence 2026 scheduled for August 12, 2026
Participation in Motilal Oswal 22nd Annual Global Investor Conference on August 19, 2026
Company operates with a TTM revenue of Rs 11,506 Cr and a market cap of Rs 19,443 Cr
Specialty products (Croptek) currently contribute 35% of the company's fertilizer revenue
B2C Technical Ammonium Nitrate (TAN) contributes 14% of mining chemical revenue

💡 Educational: Monitor the company's website for any investor presentations uploaded following these conferences to understand management's strategy for maintaining margins amidst geopolitical headwinds.

Deepak Fertilizers schedules investor meets with Emkay and Motilal Oswal for August 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Aug 2026, 05:15 PM

Deepak Fertilizers (DEEPAKFERT) has announced its participation in two upcoming institutional investor conferences in Mumbai. The company will attend the EMKAY Confluence on August 12, 2026, and the Motilal Oswal 22nd Annual Global Investor Conference on August 19, 2026. These physical meetings are part of routine investor relations and will not involve sharing any unpublished price-sensitive information. Investors should note the company's current TTM revenue of Rs 11,506 Cr and its strategic shift toward high-margin specialty products.

Scheduled participation in EMKAY Confluence 2026 on August 12, 2026
Scheduled participation in Motilal Oswal 22nd Annual Global Investor Conference on August 19, 2026
Company maintains a TTM revenue of Rs 11,506 Cr and OPM of 14.6%

💡 Watch for any investor presentations filed with the exchanges following these dates for updates on the FY2029 capacity realization timeline.

101% PAT Growth in Q1 FY27; Major TAN and Acid Projects Near Completion

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 06 Aug 2026, 02:25 PM

DEEPAKFERT reported its historic best Q1 FY27 results, with PAT doubling to ₹490 cr and revenue growing 22% YoY to ₹3,256 cr. The performance was driven by strong realizations in Technical Ammonium Nitrate (TAN) and Nitric Acid, alongside benefits from the integrated gas-to-ammonia value chain. Net debt leverage improved significantly to 1.4x from 2.86x. Two major capex projects—TAN at Gopalpur (96% complete) and Acids at Dahej (93% complete)—are nearing commissioning, which is expected to drive H2 growth.

Q1 FY27 PAT doubled YoY to ₹490 cr, achieving 65% of the total FY26 full-year profit in a single quarter.
Operating EBITDA jumped 65% YoY to ₹845 cr, with margins expanding to 26% from 19% in the previous year.
TAN Gopalpur project is 96% complete and Dahej Acids project is 93% complete, both nearing H2 FY27 commissioning.
Net debt to EBITDA ratio improved significantly to 1.4x from 2.86x, reflecting strong cash generation.
B2C revenue in the mining chemicals segment grew 42% YoY to ₹151 cr, now contributing 17% of segment revenue.

💡 Monitor the commissioning and capacity ramp-up of the Gopalpur and Dahej facilities in H2 FY27. Investors should also track global ammonia prices (currently ~$600/ton) and potential Russian export bans on FGAN which could impact realizations.

DEEPAKFERT Releases Audio Recording of Q1 FY27 Earnings Call Held on July 31, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Jul 2026, 06:44 PM

Deepak Fertilizers has submitted the audio recording of its earnings conference call held on July 31, 2026, for the quarter ended June 30, 2026. This is a routine regulatory disclosure following the release of quarterly financial results. The company, which has a TTM revenue of Rs 11,506 Cr and a PAT of Rs 738 Cr, uses these calls to detail its transition toward high-margin specialty products. Investors can access the recording via the provided link to hear management's outlook on the 11% expected growth rate and the impact of geopolitical headwinds.

Audio recording released for the earnings call held on July 31, 2026
Covers financial results for the quarter ended June 30, 2026
Company reported TTM revenue of Rs 11,506 Cr for FY26
Management targets a 20% plus ROCE for new projects

💡 Listen to the recording to understand management's strategy for mitigating ammonia supply risks in Q4 and the progress of the new production facility expected by FY 2029.

Deepak Fertilizers Q1 FY27 Standalone PAT at ₹68.34 Cr; Tax Auditor Re-appointed

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 30 Jul 2026, 01:28 PM

Deepak Fertilizers' board approved Q1 FY27 results and the re-appointment of M/s P G Bhagwat LLP as Tax Auditors for FY 2026-27. Standalone revenue for the quarter was ₹516.97 Cr, representing an 11.4% decline from ₹583.66 Cr in Q1 FY26. Standalone PAT also saw a contraction, falling 21.3% YoY to ₹68.34 Cr. The company continues its strategic focus on specialty products, which currently contribute 35% to fertilizer revenue.

Standalone Revenue for Q1 FY27 reported at ₹516.97 Cr, down from ₹583.66 Cr YoY
Standalone Net Profit for the quarter ended June 30, 2026, stood at ₹68.34 Cr
Standalone Basic and Diluted EPS for Q1 FY27 recorded at ₹5.41
Re-appointment of M/s P G Bhagwat LLP as Tax Auditors for the financial year 2026-27
Total Standalone Expenses for the quarter were ₹439.02 Cr compared to ₹494.89 Cr in Q1 FY26

💡 Investors should monitor the consolidated results to see if the specialty product mix (Croptek at 35% of fertilizer revenue) is successfully offsetting the margin pressure seen in the standalone figures.

View All DEEPAKFERT Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In FY 2024-25, the Chemical Business (Industrial and Mining Chemicals) contributed 49.53% to total revenue, while the Fertilisers Business contributed 49.83%. For Q2 FY26, consolidated operating revenue grew 9% YoY to INR 3,006 Cr, and H1 FY26 revenue grew 13% YoY to INR 5,665 Cr.

Geographic Revenue Split

Not disclosed in available documents; however, the company operates manufacturing facilities in Maharashtra, Gujarat, Andhra Pradesh, and Haryana.

Profitability Margins

Net profit margin for FY 2024-25 improved by 381 basis points to 9.19%. Operating EBITDA margin for FY 2024-25 was 18.73%, an expansion of 390 bps from 14.83% in the previous year. Q2 FY26 EBITDA margins dropped to 15% from 18% YoY due to global geopolitical headwinds.

EBITDA Margin

Operating EBITDA for Q2 FY26 was INR 464 Cr, down 6% QoQ from INR 494 Cr. H1 FY26 EBITDA stood at INR 977 Cr, up 2% YoY. The margin for Q2 FY26 was 15%, reflecting a 300 bps decline YoY.

Capital Expenditure

Standalone purchase of property, plant, and equipment (including capital work-in-progress) was INR 870.03 Cr for the half-year ended September 30, 2025, compared to INR 555.80 Cr in the previous period.

Credit Rating & Borrowing

Finance costs for the standalone entity were INR 15.08 Cr for H1 FY26. The company issued compulsory convertible debentures worth INR 800 Cr during the period to strengthen the balance sheet.

⚙️ Operational Drivers

Raw Materials

Ammonia (critical for fertiliser and chemical production), Isopropyl Alcohol (IPA) feedstocks, and Technical Ammonium Nitrate (TAN) components. Ammonia represents a significant cost, with a planned shutdown in Q4 requiring imports to maintain business continuity.

Import Sources

Global markets for Ammonia imports; domestic sourcing from Gujarat, Maharashtra, Andhra Pradesh, and Haryana for other inputs.

Key Suppliers

Not specifically named in documents, though the company relies on third-party suppliers for Ammonia during plant shutdowns.

Capacity Expansion

New world-class production facility currently under development with full capacity realization expected by FY 2029. New projects are expected to deliver an asset turn of 0.5 to 0.6 and ROCE of 20% plus.

Raw Material Costs

Inventory turnover ratio increased due to an 18% rise in turnover and an 8% reduction in inventory, indicating improved procurement and stock management efficiency.

Manufacturing Efficiency

Capacity utilization metrics not specifically disclosed, but the company focuses on specialty products like Croptek and B2C TAN to drive higher-margin efficiency.

📈 Strategic Growth

Expected Growth Rate

11%

Growth Strategy

The company is shifting toward a specialty product portfolio and B2C segments. Specialty products (Croptek) now contribute 35% of fertiliser revenue, and B2C TAN contributes 14% of mining chemical revenue. Growth is supported by a new facility reaching capacity by FY 2029 and a focus on customer engagement and operational agility.

Products & Services

Industrial Chemicals, Pharma Chemicals (IPA), Mining Chemicals (Technical Ammonium Nitrate), Crop Nutrition (Specialty Fertilisers), and Value Added Real Estate.

Brand Portfolio

Croptek, Croptek+.

New Products/Services

Specialty product portfolio (Croptek) and B2C TAN products are the primary new growth drivers, currently contributing 35% and 14% to their respective segments.

Market Expansion

Expansion into B2C segments for TAN and specialty fertilisers to reach customers directly and capture higher margins.

Market Share & Ranking

One of India’s leading producers of industrial & mining chemicals and fertilisers.

🌍 External Factors

Industry Trends

The industry is shifting toward specialty and customized nutrient solutions to optimize use and minimize environmental impact. DFPCL is positioning itself through its 'Croptek' specialty line and B2C mining chemicals.

Competitive Landscape

Faces competitive pressures in bulk chemical trading and standard fertiliser segments; mitigating this by moving into B2C and specialty chemicals.

Competitive Moat

Moat is built on a 40-year legacy, diversified multi-product enterprise status, and a shift toward high-margin specialty products (35% of fertiliser revenue) which are harder for commodity players to replicate.

Macro Economic Sensitivity

Highly sensitive to global geopolitical trends and trade policies. Profit Before Tax rose 77% in FY 2024-25, showing high sensitivity to operational scale and market pricing.

Consumer Behavior

Farmers are increasingly adopting high-efficiency, customized nutrient solutions for higher yields, supporting the 35% revenue contribution from specialty fertilisers.

Geopolitical Risks

Significant risk from international trade tariffs (e.g., Trump's tariffs) which impact global supply chains and margin stability.

⚖️ Regulatory & Governance

Industry Regulations

Subject to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and governmental/regulatory trends affecting chemical and fertiliser pricing/distribution.

Environmental Compliance

Committed to sustainable agriculture and nutrient use optimization; specific ESG spend not disclosed.

Taxation Policy Impact

Standalone income tax paid (net) was INR 217.53 Cr for H1 FY26.

Legal Contingencies

Provision for doubtful other receivables of INR 2.00 Cr was made in H1 FY26. No specific high-value court cases disclosed in the provided text.

⚠️ Risk Analysis

Key Uncertainties

Geopolitical trade barriers (tariffs) and raw material price volatility (Ammonia) are the primary uncertainties, with potential to impact margins by 300-400 bps.