Crisil Ratings predicts India's urea import dependency to fall to 10-15% due to new production capacities and government policies.
Crisil Ratings predicts India's urea import dependency will fall to 10-15% in the near-to-medium term, down from 30% in fiscal 2021. This decline is due to new production capacities and the government's New Investment Policy 2012, leading to steady returns and stable credit profiles. The urea industry's net leverage remains comfortable at 3 times, with no major build-up of subsidy receivables expected.
August 21, 2024
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