Deepak Fertilizers sees strong Q2 and H1 FY26 performance

Deepak Fertilizers and Petrochemicals Corporation Limited (DFPCL) announced unaudited standalone and consolidated financial results for Q2 and H1 FY26. Consolidated operating revenue increased 9% year-over-year (YoY) in Q2 and 13% YoY in H1 to ₹3,006 crore and ₹5,665 crore, respectively, driven by higher volumes in Croptek, Technical Ammonium Nitrate (TAN), and Isopropyl Alcohol (IPA). Consolidated net profit remained flat at ₹214 crore in Q2 but grew 11% YoY in H1 to ₹458 crore.

The fertilizer business segment exhibited strong performance with 36% YoY growth, while the chemicals segment, including IPA and ammonia, experienced a 21% YoY decline due to global headwinds. Despite a Capex spend of ₹870 crore in H1 FY26, net debt rose by only ₹97 crore, maintaining a net debt to EBITDA ratio of 1.74x. Strategic projects, including the Gopalpur TAN project (87% complete) and Dahej Nitric Acid project (70% complete), are on track for commissioning by end of FY26.

Specialty products now account for 28% of the Crop Nutrition Business (CNB) revenue in Q2 FY26, with Croptek volumes surging 54% YoY. The company continues its strategic transformation, focusing on market leadership and sustainable growth through ESG initiatives and digitization efforts.