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Deepak Fertilis.

Q2 FY26

Deepak Fertilis. Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹1,344

Market cap₹17.0K Cr

P/E17.3

Updated16 Oct 2026

Read4 min read

The short version

Crop Nutrition business expects robust demand supported by favorable monsoon and rising adoption of specialty products like Croptek and Solutek, indicating strong Rabi 2025 season. FY '26 margins expected to revert to normal range of 18%-20%, indicating improvement from current levels.

From Deepak Fertilis.'s Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Crop Nutrition business expects robust demand supported by favorable monsoon and rising adoption of specialty products like Croptek and Solutek, indicating strong Rabi 2025 season.
TAN (mining chemicals) business is sustaining strong momentum with 29% volume growth and full capacity utilization; expects strong post-monsoon recovery driven by increased mining and infrastructure activities.
Specialty product portfolio in Fertilisers and TAN segment is a focus, with B2C business in TAN growing 33% YoY and specialty Fertiliser product portfolio (Croptek plus) contributing ~35% revenue, with plans for material growth.
Export volumes for TAN are increasing post export quota enhancement, with a gradual ramp-up expected in coming quarters.

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Profitability & Margins

FY '26 margins expected to revert to normal range of 18%-20%, indicating improvement from current levels.
FY '27 seen as a "stepping stone" with anticipated revenue growth due to new capacity utilization and improvement in specialty businesses.
New plants expected to reach peak capacity utilization by FY '29, with asset turns around 0.5-0.6 and ROCE expected above 20%.
Specialty product segments (e.g., Croptek) showing strong growth, supporting future earnings uplift.
LNG contract effective May '26 expected to materially reduce gas costs, enhancing Ammonia business margins.
Export expansion and value-added product focus to drive medium-term growth.

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Capital Expenditure Plans

Ongoing capex includes the TAN project at Gopalpur (87% complete) and Nitric Acid project at Dahej (70% complete), both targeted for commissioning within six months.
Total expected capex for TAN and Nitric Acid projects is around INR 4,650 crores, with staggered payments continuing even post-commissioning.
Peak debt related to capex is expected to be INR 4,500 crores by end of the current year.
New plants are expected to reach peak utilization in 3 years, i.e., by FY '29, with asset turns around 0.5-0.6 and expected ROCE above 20%.
No immediate new capex plans beyond these projects; next capex cycle anticipated after completion of current projects.

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Fundraising & Capital Structure

As per the Q2 FY '26 earnings call, Deepak Fertilisers and Petrochemicals Corporation Limited does not have any immediate or planned new capex or fundraising through debt or equity.
The company is nearing the completion of its current capex cycle started a few years ago.
There is a "cooling period" expected before any next capex cycle or acquisitions.

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Order Book & Pipeline

The provided transcript from Deepak Fertilisers and Petrochemicals Corporation Limited's Q2 FY 2026 earnings call does not explicitly mention specific details about current or expected order book or pending orders. Key points related to operations include: - Specialty product portfolios in crop nutrition and TAN businesses are growing, contributing significantly to revenues. - TAN project at Gopalpur and Nitric Acid project at Dahej are progressing well, near completion (87% and 70% respectively). - Export activities have resumed and are expected to scale gradually, especially in TAN.

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Deepak Fertilis. — Quarterly revenue & net profit

Revenue Net profit

Sep 2024Q2 FY25

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹2.8K Cr, net profit ₹141 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Deepak Fertilisers & Petrochemicals Corp Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Deepak Fertilis. Q2 FY26 results?

Crop Nutrition business expects robust demand supported by favorable monsoon and rising adoption of specialty products like Croptek and Solutek, indicating strong Rabi 2025 season. FY '26 margins expected to revert to normal range of 18%-20%, indicating improvement from current levels.

What is Deepak Fertilis. share price analysis?

Deepak Fertilis. currently shows a neutral. The stock trades at a P/E of 17.2 with a market cap of ₹16,968 Cr. Investors should review the full earnings analysis for detailed insights.

Is Deepak Fertilis. planning capital expenditure?

Ongoing capex includes the TAN project at Gopalpur (87% complete) and Nitric Acid project at Dahej (70% complete), both targeted for commissioning within six months.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.