Chambal Fertilisers (CHMB) 4QFY15 EBITDA was muted at Rs 450mn (-22% YoY) led by lower urea production. Urea plant (Gadepan-II) was shut for 52 days owing to unviability of production beyond the cutoff limits (due to higher RLNG prices and muted international price of urea). Net loss was Rs 62mn.