Questions across 5 calls

Parth Kotak

Plus91 Asset Management

Deepak Fertilizers and Petrochemicals Corporation Limited

Deepak Fertilizers and Petrochemicals Corporation Limited CC-Jun26.pdf · 2026-05-29

Most of my questions have been answered. Sir, a couple of questions. One, on the demerger front, any expected time lines? Are we expecting to do it this year? Subhash Anand: No, not immediately. In fact, we yet to take a call in terms of form and shape and timing of subsidiary listing and demerger or listing, I call it, not demerger, how and when it has to happen. So we'll come back once we have more clarity. But yes, we are c ommitted and we'll walk that path.

Sure. Sir, just second question. In the opening remarks, you mentioned that we have adequate supply tied down for ammonia for Gopalpur. So if you could probably give us some details on where the supply is coming from? I mean, how have you tied up the capac ity, that would be helpful. Subhash Anand: Okay. Now a couple of things when we say ammonia. Currently, if you see, we ourselves produce almost 500,000 plus ammonia from PCL. We also trade in ammonia, a large quantity of ammonia is being traded by us, which means we import and we sell. We do have an expertise of ammonia. That's what we claim, I call it or we can claim that we are in this business for long. I'll say there's no disconnect in terms of we saying ammonia has been tied up. We have a contract in place or we know from where the source is in place. Since we have -- we are already in importing and selling ammonia for us, some more additional quantity need to buy and supply into that plant. So that's not a challenge for us. And that's why that's what gives us the confidence we are ready for Gopalpur ammonia supply.

Deepak Fertilizers and Petrochemicals Corporation Limited CC-Dec24.pdf · 2025-01-30

Sir, I have a couple of questions. First on the fertilizers bit. We've been seeing encouraging numbers from the c rop nutrition business. Just wanted to get a sense of what would be our sustainable EBIT margin from this piece of business? We've been clocking about 9% for the current quarter, 8%. Is this the sustainable level or is there further room for improvement? Subhash Anand: Okay. Normally, we don't talk about business -specific EBITDA numbers. But this business, if you see, yes, it's a single-digit margin business. And we do see with our focus what we have on specialty, the way we are moving our business and going towards specialty, our intent is to move this margin up. We are seeing every quarter or quarter -on-quarter this shift is help ing us to expand margin, and this journey will continue.

Perfect, sir. That's very encouraging. A lot of my other questions have been answered. One another piece and probably a little too early to talk about the strategic demerger. But maybe if you can just throw some light on how do you see Deepak Fertilisers e volving over the next 5 years in terms of business mix, profitability and growth focus, that would be really helpful? Subhash Anand: Okay. That's -- I'll say, too longer version or too longer vision. But if you ask me, the early part of our call, Mr. Mehta, do speak about the way our business -- we are seeing this business, our business will move more and more from commodity to specialty. Each business now with the - - after demerger is looking into their growth charter plan. How do they move more into specialty, like TAN business, we are talking about moving from pure TAN to TCO kind of an approach, which is getting connected with mine owners or with infrastructure project owners. So, we not just control TAN, but we participate in the entire value chain of this business. Same way, CNB, if we talk about c rop nutrition business, if we talk about, we have a strategy or we are internally looking how do we do 5x in this business. if you see our collaboration with Haifa, that also is basically with the intent to bring more specialty products into the Indian market. So all those opportunity in this business has been looked. I just spoke about IC business some time back, bringing more high-purity chemical into our fold. Looking into IC -- looking into adjacencies, which are the places , or which are the business which has I say synergy where we can expand those business into specialty. So, all those pieces, which we are part of our strategy are in discussion and getting discussed to draw a next 5-year road map. Plan is to share or get a much bigger share of specialty business and expand the margin profile of entire Deepak portfolio. That's what we are looking into.

Deepak Fertilizers and Petrochemicals Corporation Limited CC-Sep24.pdf · 2024-10-30

Most of my questions again have been answered. One question that I have is the impact of facility downtime. Taloja faced downtime for IPA and nitric acid production, can you share when this capacity utilization will return to normal and if repairs will have any impact on this quarter's EBITDA margins?

I think that sums up your views really well. Lastly, on the impact of ammonia on segment reporting. You mentioned earlier that ammonia profits are embedded in the chemicals business. Can we expect any changes to segment reporting post expansion to provide better visibility into ammonia performance or this is how we'd like to continue?

Deepak Fertilizers and Petrochemicals Corporation Limited CC-Jun24.pdf · 2024-08-01

Firstly, I would like to congratulate you and your team for a decent set of numbers. Sir, my first question is on the expansion project and capacity utilization. So just want to take an update with the ongoing expansion at Gopalpur for TAN and Dahej for nitric acid. Can you provide an update on the expected timelines for these projects? Are we online on what we committed before? And additionally, what are the anticipated capacity utilization from the new facilities upon completion? Can they be ramped up once they are commissioned straight away? Or how would the capacity ramp-up happen?

Sir. That is helpful. Secondly, I would like to understand the impact of ammonia price volatility. As you have rightly mentioned, probably the additional EBIT that we make from ammonia would be negligent. And like we have been guiding if ammonia continues to trade at about $400 or $450, which is the long-term average of ammonia. And again, from more of an accounting perspective, the way we are reporting our numbers, would it be fair to assume when we would be showing an EBIT margin of about 40% on our Chemicals business and about 15% plus on our fertilizer business, especially when we are not showing an EBIT for ammonia separately?

Lloyds Metals And Energy Limited

Lloyds Metals And Energy Limited CC-May26.pdf · 2026-05-06

Hi, thanks for taking mine and congratulations for a good set of numbers. Sir, actually, I have a couple of questions. The first one is an extension to the previous participant's question. I understand that now since MDO is integrated with our operations, if you could just give a bit of colour on our receivable days and inventory days and payable days for the consolidated entity going ahead. And second, sir, if you could just on an accounting side, provide the number for IPS benefit this year, it would be really helpful?