Deepak Fertilizers And Petrochemicals Corporation Limited has informed the Exchange about Credit Rating
DEEPAKFERT · price
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CRISIL Ratings has reaffirmed Deepak Fertilizers' long-term rating at CRISIL AA- with Positive outlook and short-term rating at CRISIL A1+. The company reported 9M FY26 revenue of Rs 8,495 crore, up 19% year-on-year, though EBITDA declined 15.6% to Rs 1,330 crore due to weaker Q3 performance from excess rains and higher ammonia costs. Net debt is expected to rise to Rs 4,800-5,200 crore by FY26 end due to ongoing capex, with net leverage at 2.8-3x, expected to improve to 2-2.2x in FY27. Major expansion projects in Technical Ammonium Nitrate (93%+ complete) and Nitric Acid (86%+ complete) are progressing well and expected to boost performance from H2 FY27. A new cheaper LNG supply contract with Equinor became effective May 2026, which should lower ammonia production costs.
The reaffirmed ratings with a Positive outlook indicate financial stability and support for the stock. The ongoing capex and temporary margin pressure are being monitored, but expected improvement in profitability and deleveraging from H2 FY27 onwards should be positive for shareholders.