Fertiliser stocks: Combination of strong headwinds and structural repair. Who will win? 9 stocks, 4 with upside potential of up to 31%

For the better part of a decade now, every time this critical sector has run into trouble, the government has stepped in. The clean-up began with small steps. The mandatory coating of urea with neem was an early one. It was a measure that was not financial on the face of it; but it changed the sector’s economics by stopping the diversion of subsidised fertiliser to other uses.