CHAMBLFERT Q2 FY27 Guidance vs Delivery (CHAMBLFERT Management Mirror)

Sep'26 Qtr TAN Utilization of 80%-85% Exceeds the 75%-80% Guided in Mar'26 Qtr

For the Sep'26 Qtr, the company reported Technical Ammonium Nitrate (TAN) segment revenue of INR 66.9 crores and EBIT of INR 12.0 crores in its quarterly results, producing approximately 16,000 tonnes of Weak Nitric Acid and 9,500 tonnes of combined ANS and HDAN. In the concall, management noted ANS and HDAN plants achieved 80% to 85% capacity utilization, exceeding the 75% to 80% utilization initially guided in the Mar'26 Qtr concall. Furthermore, this early commercialization aligns with the Jun'26 Qtr guidance that commercial sales would pick up strongly entering Q3 FY27. Going forward, management expects to ramp up the remaining 15% utilization as market demand expands, guiding that TAN margins and pricing will strengthen in Q3 and Q4 on seasonal demand. Annual TAN depreciation is guided at roughly INR 70 crores.