GSFC Q4 FY26 Guidance vs Delivery (GSFC Management Mirror)

Fertilizer Segment Outlook & Margins

Management expects DAP and Urea margins to remain unchanged in the near term as they are fully protected by government subsidies, while NPK grade margins are projected to fluctuate within a 5% to 10% band due to input price increases. In the Sep'25 Qtr, management guided for Dec'25 Qtr volumes between 5.5 to 6 lakh tons, before forecasting a seasonally subdued Mar'26 Qtr during the Dec'25 Qtr update. By the Mar'26 Qtr, the company confirmed no production deficiencies for the Jun'26 Qtr, supported by international ammonium sulphate shipments, and outlined plans to balance inventory alignment following a 10% government NBS rate uplift. [Status: Reaffirmed]