Declining Revenue TrendA TTM revenue decline of -7.28% reduces scale in a capital- and fixed-cost-intensive fertilizer business. Lower volumes hurt fixed-cost absorption in mining and processing, making it harder to leverage the strong gross margins into sustained operating profit absent market-share or demand recovery.
Deep Negative ProfitabilityA net margin of -64.26% indicates the company is incurring large losses despite healthy gross margins. Persistent deep losses erode equity, limit reinvestment and require material operational improvements or revenue recovery to return to sustainable profitability over the medium term.
Weak Cash Generation And Elevated LeverageHigh leverage (D/E 1.76) alongside severe free cash flow deterioration (-221.93% TTM) and low OCF/net income (0.17) signal constrained liquidity and reliance on external financing. This reduces flexibility for capex, increases refinancing risk, and pressures operations over the coming months.