Fertiliser Sales Nosedive In March As Industry Awaits New NBS Policy: Prabhudas Lilladher

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Prabhudas Lilladher Report

Fertiliser placements declined 23% YoY in March as industry chose to wait for the new Nutrient Based Subsidy (to be announced in April).

High base of last year and lower inventory (with corporates) also aided decline.

Urea/ Di-ammonium Phosphate/ nitrogen-phosphorus-potassium sales declined 9%/71%/22% YoY to 1.9/0.3/0.7 million tonnes.

Sale of domestically manufactured fertilisers was down 19% YoY while that of imported fertiliser was down 76% YoY driven by urea and DAP.

Government of India has paid Rs 25631 crore of fertiliser subsidy in January, up eight times YoY.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.