Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

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Thematic (Sector/Industry)

<ul>
<li>Fertilizer imports fell 44 % in May as Iran-Red Sea shocks inflated DAP/MOP landed costs; India fast-tracks ADD, green-ammonia deals.</li>
<li>Tight DAP stocks, INR 1.8-trn subsidy exposure and Kharif timing put food-security, fiscal targets and agri-input inflation squarely at risk.</li>
<li>Sector outlook swings from price-led recovery to supply-chain resilience play, favouring firms with domestic feedstock, nano-fertilizer IP and diversified import pacts.</li>
</ul>


Fertilizer imports fell 44 % in May as Iran-Red Sea shocks inflated DAP/MOP landed costs; India fast-tracks ADD, green-ammonia deals.
Tight DAP stocks, INR 1.8-trn subsidy exposure and Kharif timing put food-security, fiscal targets and agri-input inflation squarely at risk.
Sector outlook swings from price-led recovery to supply-chain resilience play, favouring firms with domestic feedstock, nano-fertilizer IP and diversified import pacts.


Thematic Report- India's Fertilizer Sector: Navigating Global Volatility and Domestic Imperatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chambal-fertilisers-and-chemicals-ltd" target="_blank" data-smartkarma-citation="entities:13473:1" rel="noopener">Chambal Fertilisers &amp; Chemicals (CHMB IN)</a>’s Capacity expansion in IMACID, focusing on phosphoric acid production, Technical Ammonium Nitrate (TAN) project, and entry into biologicals.</li>
<li>
<a href="https://www.smartkarma.com/entities/coromandel-international-ltd" target="_blank" data-smartkarma-citation="entities:15305:1" rel="noopener">Coromandel International (CRIN IN) is also expanding </a> capacity that include a 7.5 lakh tons of NPK facility and a 2 lakh tons phosphoric acid plant at Kakinada. </li>
<li>
<a href="https://www.smartkarma.com/entities/deepak-fertilisers-petro" target="_blank" data-smartkarma-citation="entities:9768:1" rel="noopener">Deepak Fertilisers &amp; Petro (DFPC IN)</a> Capacity expansions for technical ammonium nitrate (TAN) and nitric acid. Investments in a world-scale ammonia plant, and shift to specialty products.</li>
</ul>



Chambal Fertilisers &amp; Chemicals (CHMB IN)’s Capacity expansion in IMACID, focusing on phosphoric acid production, Technical Ammonium Nitrate (TAN) project, and entry into biologicals.

Coromandel International (CRIN IN) is also expanding  capacity that include a 7.5 lakh tons of NPK facility and a 2 lakh tons phosphoric acid plant at Kakinada. 

Deepak Fertilisers &amp; Petro (DFPC IN) Capacity expansions for technical ammonium nitrate (TAN) and nitric acid. Investments in a world-scale ammonia plant, and shift to specialty products.


Themes of India: Fertilizer Industry Q3 FY25 Update~ Growth Catalysts and Strategic Outlook

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

<p>The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not reached yet, as discussed in <a href="https://www.smartkarma.com/insights/covid-19-how-does-india-fare-currently" target="_blank" data-smartkarma-citation="insights:38227" rel="noopener">COVID-19: How Does India Fare Currently?</a> Unsurprisingly, the government has extended the nation-wide lockdown to a further 19 days till May 3rd. </p><p>While the extension was anticipated by many, the government has also decided to free up some economic activities post 20th April, subject to certain criteria (the guideline is embedded in the insight). Post the extension announcement, the government had segregated 700+ districts into hotspots, non-hotspots and green zones; it is green zones are where certain economic activities will resume on 20th April. In this insight, we try to decipher the possible beneficiaries arising from this 'free-up'</p>

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not reached yet, as discussed in COVID-19: How Does India Fare Currently? Unsurprisingly, the government has extended the nation-wide lockdown to a further 19 days till May 3rd. While the extension was anticipated by many, the government has also decided to free up some economic activities post 20th April, subject to certain criteria (the guideline is embedded in the insight). Post the extension announcement, the government had segregated 700+ districts into hotspots, non-hotspots and green zones; it is green zones are where certain economic activities will resume on 20th April. In this insight, we try to decipher the possible beneficiaries arising from this 'free-up'

COVID-19 : Intermediate Respite for Some Businesses

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Derivatives

<ul>
<li>Union Cabinet cleared a INR 37,500 crore viability-gap scheme to accelerate surface coal and lignite gasification, targeting 75MTPA, bringing 25 additional projects alongside four already underway.</li>
<li>India's FY25 import bill for LNG, urea, ammonia, and methanol stood at INR 2.77 lakh crore. Coal gasification at scale could structurally compress this bill worth INR 60,000–90,000 crore annually.</li>
<li>The scheme is structurally positive, but commissioning risk and India's high-ash coal challenge mean execution separates eventual winners. CIL, BHEL, and GAIL stand out as near-term direct beneficiaries .</li>
</ul>


Union Cabinet cleared a INR 37,500 crore viability-gap scheme to accelerate surface coal and lignite gasification, targeting 75MTPA, bringing 25 additional projects alongside four already underway.
India's FY25 import bill for LNG, urea, ammonia, and methanol stood at INR 2.77 lakh crore. Coal gasification at scale could structurally compress this bill worth INR 60,000–90,000 crore annually.
The scheme is structurally positive, but commissioning risk and India's high-ash coal challenge mean execution separates eventual winners. CIL, BHEL, and GAIL stand out as near-term direct beneficiaries .


37,500Cr Coal Gasification Scheme: These Indian Companies Will Benefit

Equity Bottom-Up

Deepak Fertilisers and Petrochemicals / Equity Bottom-Up

Deepak Fertilisers and Petrochemicals (DFPC IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/deepak-fertilisers-petro" target="_blank" data-smartkarma-citation="entities:9768:1" rel="noopener">Deepak Fertilisers &amp; Petro (DFPC IN)</a> reported robust Q4 and full-year FY25 results, crossing INR 10,000 crores in revenue and doubling PAT year-on-year for FY25.</li>
<li>The strong financial outcomes validate the company's strategy of aligning with India's growth story and transitioning from commodities to higher-margin specialty products.</li>
<li>Improved financial health, reduced net debt, and strategic capex nearing completion position DFPCL for future growth and potentially higher profitability despite near-term segment-specific pressures.</li>
</ul>



Deepak Fertilisers &amp; Petro (DFPC IN) reported robust Q4 and full-year FY25 results, crossing INR 10,000 crores in revenue and doubling PAT year-on-year for FY25.
The strong financial outcomes validate the company's strategy of aligning with India's growth story and transitioning from commodities to higher-margin specialty products.
Improved financial health, reduced net debt, and strategic capex nearing completion position DFPCL for future growth and potentially higher profitability despite near-term segment-specific pressures.


Deepak Fertilizers Q4 FY25 Update: A Specialty Play, Ready for the Mega Run

India

Deepak Fertilisers and Petrochemicals Corporation Ltd. manufactures industrial and agricultural chemicals, crop nutrients, and fertilizers. Its product portfolio includes industrial chemicals, bulk and specialty fertilizers, farming diagnostics, and technical ammonium nitrate. The company also has a presence in value-added real estate. It is headquartered in Pune, India, and was founded in 1979.

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Deepak Fertilisers and Petrochemicals (DFPC IN)

Thematic Report- India's Fertilizer Sector: Navigating Global Volatility and Domestic Imperatives

Fertilizer imports in India dropped significantly in May due to increased costs; government focuses on domestic production and green-ammonia deals...

Nimish Maheshwari

Themes of India: Fertilizer Industry Q3 FY25 Update~ Growth Catalysts and Strategic Outlook

Indian fertilizer companies like Chambal, Coromandel International, and Deepak Fertilisers are expanding their capacities to focus on new products...

Nimish Maheshwari

COVID-19 : Intermediate Respite for Some Businesses

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not...

Nitin Mangal

37,500Cr Coal Gasification Scheme: These Indian Companies Will Benefit

Union Cabinet approves INR 37,500 crore scheme to boost coal gasification, aiming to reduce India's import bill for LNG, urea, ammonia, and...

Sudarshan Bhandari

Deepak Fertilizers Q4 FY25 Update: A Specialty Play, Ready for the Mega Run

Deepak Fertilisers & Petro (DFPC IN) posts strong FY25 results, surpassing INR 10,000 crores in revenue and doubling PAT year-on-year.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic Report- India's Fertilizer Sector: Navigating Global Volatility and Domestic Imperatives

​Fertilizer imports in India dropped significantly in May due to increased costs; government focuses on domestic production and green-ammonia deals...

Nimish Maheshwari

Themes of India: Fertilizer Industry Q3 FY25 Update~ Growth Catalysts and Strategic Outlook

​Indian fertilizer companies like Chambal, Coromandel International, and Deepak Fertilisers are expanding their capacities to focus on new products...

Nimish Maheshwari

COVID-19 : Intermediate Respite for Some Businesses

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not...

Nitin Mangal

37,500Cr Coal Gasification Scheme: These Indian Companies Will Benefit

​Union Cabinet approves INR 37,500 crore scheme to boost coal gasification, aiming to reduce India's import bill for LNG, urea, ammonia, and...

Sudarshan Bhandari

Deepak Fertilizers Q4 FY25 Update: A Specialty Play, Ready for the Mega Run

​Deepak Fertilisers & Petro (DFPC IN) posts strong FY25 results, surpassing INR 10,000 crores in revenue and doubling PAT year-on-year.

Sudarshan Bhandari

Fertilizer imports in India dropped significantly in May due to increased costs; government focuses on domestic production and green-ammonia deals...

Indian fertilizer companies like Chambal, Coromandel International, and Deepak Fertilisers are expanding their capacities to focus on new products...

Union Cabinet approves INR 37,500 crore scheme to boost coal gasification, aiming to reduce India's import bill for LNG, urea, ammonia, and...

Deepak Fertilisers & Petro (DFPC IN) posts strong FY25 results, surpassing INR 10,000 crores in revenue and doubling PAT year-on-year.