Fertilisers - June Sales Flat YoY, Industry Closes Q1 With 11% Decline In Sales: Prabhudas Lilladher
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Prabhudas Lilladher Report
Fertiliser sales ended with flat YoY growth in June driven by 8% decline in urea sales to 2.7 million tonnes.
Di-ammonium phosphate/nitrogen, phosphorous and potassium sales were up 2%/18% YoY to 1.1/ 1.3 million tonnes.
Raw material prices continue to rise with phosphoric acid/sulphur/ammonia prices being up by 66%/209%/24% YoY in Q1 FY22.
Government of India has paid Rs 7403 crore of fertiliser subsidy between April and May.
Urea subsidy payment stands at Rs 5429 crore while NPK subsidy payment stands at Rs 1971 crore.
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