Management Transcript of Q1 FY 2027 Earnings Conference Call

6th August, 2026 The Secretary Listing Department BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra - Kurla Complex, Bandra (E) Mumbai – 400 001 Mumbai – 400 051 BSE Code: 500645 NSE Code: DEEPAKFERT Subject: Management Transcript of Q1 FY 2027 Earnings Conference Call Dear Sir / Madam, Pursuant to the Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, please find enclosed the Management Transcript of the Earnings Conference Call held on 31st July, 2026 to discuss the financial results of the Company for the quarter ended 30th June, 2026. The transcript of the Q1 FY 2027 Earnings Conference Call will also be made available on the website of the Company i.e. https://www.dfpcl.com/. We request you to take the same on your record. Thanking you, Yours faithfully, For Deepak Fertilisers And Petrochemicals Corporation Limited Rabindra Purohit VP – Legal, Compliance & Company Secretary Membership No.: FCS 4680 Encl: as above “Deepak Fertilisers and Petrochemicals Corporation Limited Earnings Conference Call” July 31, 2026 MANAGEMENT: MR. SAILESH MEHTA – CHAIRMAN AND MANAGING DIRECTOR – DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED MR. SUBHASH ANAND – PRESIDENT AND CHIEF FINANCIAL OFFICER – DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED MR. TARUN SINHA – PRESIDENT – TECHNICAL AMMONIUM NITRATE – DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED MR. SUPARAS JAIN – EXECUTIVE VICE PRESIDENT – CORPORATE FINANCE – DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED MODERATOR: MR. ROHIT SINHA -- SUNIDHI SECURITIES Moderator: Ladies and gentlemen, good day, and welcome to the Earnings Conference Call of Deepak Fertilisers and Petrochemicals Corporation Limited, hosted by Sunidhi Securities. Before we begin this call, I would like to point out that some of the statements made in today's call may be Page 1 of 20 Deepak Fertilisers and Petrochemicals Corporation Limited July 31, 2026 forward-looking and a disclaimer to this effect has been included in the earnings presentation shared with you earlier. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference, please signal an operator by pressing "*" then "0" on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Rohit Sinha from Sunidhi Securities. Thank you, and over to you, Mr. Sinha. Rohit Sinha: Thank you, Dorwin. Good evening, everyone, and thank you for joining us on the Deepak Fertilisers Q1 FY '27 Earnings Conference Call. We would like to thank the management for giving us this opportunity to host the call. Today, we have with us Mr. Sailesh Mehta, Chairman and MD of the company; Mr. Subhash Anand, President and CFO; Mr. Tarun Sinha, President of the TAN Business; and Mr. Suparas Jain, Executive VP, Corporate Finance. We will begin the call with opening remarks from the management, followed by Q&A session. I would now like to invite Mr. Mehta to make the initial remarks. Thank you, and over to you, sir. Sailesh Mehta: Thank you. My voice is clear, right? Rohit Sinha: You are clear, sir. Yes. Sailesh Mehta: Okay. So, a very good evening to everyone and once again, thank you for joining us today. Our earnings presentation and press release have been uploaded in the stock exchange and are also available on our website. I trust you have had the opportunity to review them. Now, I'm very happy to share that despite the volatility emerging out of the Middle East war, our Q1 has turned out to be our historic best with 65% jump in the operating EBITDA and doubling in our PAT. Even our net debt improved from 2.86x to 1.4x. With the Q1 profits achieved, we have already covered over 65% of last year's full year's profits. What are the undercurrents behind this performance? Will they sustain? Could be fair questions in your mind as we see it, from our perspective, we see three clear undercurrents trends, namely the core strength of our integrated value chain that we have built, now from the 15-year LNG contract with Equinor, then having a world-scale ammonia plant facility next door, and then Asia's largest building block chemical nitric acid and then the downstream end products, and all of them in three diverse risk-mitigated sectors: crop nutrition, mining chemicals, and industrial chemicals. So, this aspect of this value chain, we strongly believe, is one clear undercurrent strength, and we see that giving us resilience, risk mitigation, and of course, very good cost optimization. So, this is something we see unique and sustaining. Page 2 of 20 Deepak Fertilisers and Petrochemicals Corporation Limited July 31, 2026 The second core strength we see is that repeatedly we're getting a strong validation of the excellent alignment of all our three businesses with the India growth story. For the needs of power for India; coal, or for India's infrastructure needs, limestone, metals, minerals, all are beautifully aligned with our TAN business, mining chemical business. The shift to horticulture, fruits, vegetables is giving us a great -- good tailwind for our crop nutrition business. And India's focus on the pharmaceutical sector, specialty chemicals is giving a lot of boost to our industrial chemicals segment. So, this is the second core strength that we see, and in view of this beautiful alignment, we see the strength in the demand drivers despite higher prices of our finished products. We saw this phenomenon during COVID days, and we saw it again during this Middle East war phase. So, this is the second core strength that we see. Last but not the least at all, is our growing core strength emerging from our transformative shift into specialty and customized products for all our three businesses. And this we see is increasingly coming out to be very strongly reflected in our results by way of the undercurrent of customer stickiness, customer preference, and above all, price premiums. So, all these three undercurrent and strategic strengths are here to stay and grow. What is more, with our capex cycle now moving towards completion, with our TAN Gopalpur project at almost 96% completion, and acids Dahej project at 93% completion, H2 promises to further solidify the top-line and bottom-line growth. Now, in the near term, which is in Q2, we will see the typical slowdown on the mining activities due to the monsoon, but on the other hand, there will be a good pick-up on the fertilizer crop nutrition business, now that the worry of El Nino is behind us with very good widespread rains, especially in our geographies. However, with the Middle East war scenario still hovering and bringing along with it its own set of volatility, somewhere sourcing and prices of phos acid, sulphur, and other raw materials for the fertilizer business will be under somewhat of a strain, and will need for faster decisions on the subsidy corrections by the government. On the other hand, our cost-effective LNG supplies, firming up of ammonia prices and other chemical prices, and our steadfast focus on specialties and customized products, all of it will continue to support our bottom line as we see the year roll out. On this positive note, I now hand you over to Subhash and the team to take you through the details of the results and also clarify any questions that you may have. Subhash? Subhash Anand: Thank you. Thank you, Chairman, and good afternoon, everyone. Q1 FY27 has been an important quarter for Deepak Fertilisers. We delivered our highest-ever quarterly EBITDA and PAT, despite a period marked by geopolitical disturbance, supply chain challenges, and commodity volatility. More importantly, the results reflect the strengthening of strategic foundations we [Showing first 8,000 characters — download PDF for full document]