Chambal Fertilisers (CHMB) reported revenue of Rs 10.7bn (-24% YoY) in 4QFY17, led by lower volumes (-14%, urea plant shutdown, a drop in trading vols) and lower fertilisers? realisations. EBITDA was at Rs 846mn ( 1%). Lower depreciation and interest costs boosted APAT to Rs 587mn (vs loss of Rs 151mn YoY).