I explained above how you can interpret this table, so this quarter we had 87% increase in prices so the effect would be visible in next quarter, so TAN realization should go up next quarter.
My guess is next quarter should be 200cr + unless another fertilizer subsidy effect (This is just a guess no hard facts)
I also tried to explain ammonia cycle in one of my post
So I am thinking this way if gas prices go up then ammonia prices go up through out the world (gas is raw material) so if the beta of deepak fertilizer GAS prices compared to rest of the world is low they benefit big time because their savings increase in ammonia + TAN realization. Vise versa they loose more when gas price fall.
This comparison is purely of gas and ammonia, gas is just one of the factor in ammonia price fluctuation.
Yes you are correct, 110$ = 114cr per quarter at current rate subjected to full capacity utilization. At 75% or 80% utilization 85cr to 90cr
@vikashkota attaching the excel here so that you can add the future quarters and share with us
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