CHAMBLFERT Q3 FY26 Guidance vs Delivery (CHAMBLFERT Management Mirror)

Technical Ammonium Nitrate (TAN) Project

Commissioning Timeline: Management now expects the project to be completed by 30th Apr'26, with the end product hitting the market by Mar'26 or Apr'26.

*Change:* This represents a slight delay compared to the Sep'25 Qtr guidance, which targeted commercial sales by mid-Feb'26, and the Jun'25 Qtr outlook, which expected commercial production by mid-Jan'26.

Capex & Cost: The total project cost is estimated at 1,645 crores (unchanged from Jun'25 Qtr). As of Dec'25 Qtr, 1,184 crores has been incurred.

Utilization Outlook: Reaffirmed confidence in achieving healthy capacity utilization (75-80%+) post-commissioning. This aligns with the Jun'25 Qtr expectation of ramping up to 60-70% initially.

Strategic Expansion: Management initiated explicit commentary in the Dec'25 Qtr regarding active exploration of vertical and horizontal expansions in the TAN segment, labeling it a critical growth area.