Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) reported a 9% increase in revenue for Q2 FY26 and a 13% rise for H1 FY26. Net profit for H1 FY26 increased by 11%, driven by strong performance in the fertiliser and TAN businesses. The specialty products segment now contributes 28% of CNB revenue. Despite capex spending, net debt rose slightly, maintaining a net debt to EBITDA ratio of 1.74x.
Financial Performance Overview
Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) announced its Q2 FY26 results, showcasing a 9% year-over-year (YoY) growth in operating revenues, reaching ₹3,006 Cr. H1 FY26 revenue grew by 13% YoY. However, operating EBITDA decreased by 6% YoY to ₹464 Cr for Q2, while H1 EBITDA increased 2% YoY to ₹977 Cr.
Segmental Performance
Mining Chemicals (TAN)
Q2 sales volume increased 29% YoY, but decreased 7% sequentially due to monsoon. H1 volume grew 17% YoY. The B2C segment witnessed 33% YoY volume growth. The company focused on direct sales and increased export sales.
Specialty Chemicals
Q2 IPA sales volume rose 2% YoY. The segment experienced lower domestic market sentiment due to declining acetone prices. The business maintained volume with Specialty product PICKBRITE delivering strong batch pickling results.
Crop Nutrition Business
Q2 Croptek sales volume surged by 54% YoY. Overall manufactured bulk fertilizer volumes dropped due to limited availability of critical raw materials and plant shutdowns.
Strategic Developments
The specialty products segment now constitutes 28% of CNB’s revenue in Q2 FY26. Croptek volumes surged by 54% YoY. The B2C segment contributed 14% to Mining Chemicals revenue.
The company completed the full acquisition of Platinum Blasting Services (PBS), which delivered ₹533 crore in revenue and ₹80 crore in EBITDA in FY25.
Balance Sheet and Debt
Despite a capex spend of ₹870 Cr in H1 FY26, net debt rose by only ₹97 Cr, with a net debt to EBITDA ratio of 1.74x.
Project Updates
The Gopalpur TAN project is approximately 87% complete, and the Dahej Nitric Acid project is around 70% complete. Both projects are progressing as planned for commissioning by the end of FY26.
Source: BSE
