Four fertiliser companies are preparing ambitious expansion plans to meet India’s rising demand. Their strategies include capacity additions, backward integration, and specialty products. Execution risks remain, but strong projects and raw material security highlight growth potential.
Deepak Fertilisers and Petrochemicals is investing Rs 38.5 billion in a TAN project in Odisha and nitric acid expansion in Gujarat. A long‑term LNG supply deal is expected to save Rs 3 billion annually. The company targets 80% utilisation by FY27 with ROCE of 18% to 20%.
Paradeep Phosphates, India’s second largest private phosphatic fertiliser maker, has reported 18% revenue CAGR and 48% profit CAGR. It is backed by Morocco’s OCP Group. The firm plans Rs 36 billion expansion by FY30 including granulation, phosphoric acid, and sulphuric acid units.
Madhya Bharat Agro Products is expanding through its Dhule Fertiliser Complex which will add DAP, NPK, and phosphoric acid capacity by October 2026. It aims for Rs 35 to 40 billion revenue by FY28.
Krishana Phoschem has posted 96% revenue CAGR and 89% profit CAGR. It is building new NPK, DAP, and sulphuric acid units and has signed a green ammonia deal with SECI. The company targets import trading revenue of Rs 10 billion and market share growth to 25%.
Investors should monitor utilisation, margins, and governance before making decisions.
