Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) announced that its Gopalpur Technical Ammonium Nitrate (TAN) Project has achieved approximately 96 per cent completion, with commissioning activities underway.

The company’s Dahej Nitric Acid Project has also achieved approximately 93 per cent completion, with commercial operations expected towards the end of Q2 FY27. Total capex remains within the approved limit.

Upon commissioning, the projects are expected to strengthen DFPCL’s position in Nitric Acid and Technical Ammonium Nitrate, enhance supply assurance, improve operating leverage and support the company’s next phase of growth.

The development comes as DFPCL reported strong Q1 FY27 results, with consolidated operating revenue increasing 22 per cent year-on-year to Rs 32.56 billion, supported by stronger realisations across Ammonia, Mining Chemicals and Industrial Chemicals.

Operating EBITDA reached a record Rs 8.45 billion, rising 65 per cent year-on-year, while net profit increased 101 per cent year-on-year to Rs 4.90 billion.

The company’s net debt stood at Rs 47.19 billion, with Net Debt/EBITDA improving significantly to 1.4x, reflecting strong cash generation and balance sheet discipline.

S C Mehta, Chairman and Managing Director, DFPCL, stated that the Gopalpur TAN Project and the Dahej Nitric Acid Project are expected to begin contributing to profitability from Q3 onwards. The projects are backed by strong demand fundamentals and a significantly mitigated execution and commercialisation risk profile.