DPM

DPM, DCM, BFC, LAS face a second wave of domestic fertilizer price hikes in 2025, with DAP and urea up 5-11% since March. Global cost pressures and rising logistics expenses support margins for producers but squeeze farmers, potentially dampening demand.

Foreign investors net sold VND 1,802 billion (USD 72 million) on May 22, 2026, the highest in three months, driving VN-Index down 1.68%. Blue-chips VIC, VHM, and MSB led the sell-off, with VIC losing 3.52% and VHM 4.88%. The selling pressure underscores persistent foreign outflow from Vietnamese equities.

FTSE Russell removed 9 Vietnamese stocks (SAB, DPM, HUT, DIG, EIB, DXG, PDR, FRT, KDC) from its potential upgrade list, citing insufficient liquidity, free-float, foreign room, and trading criteria. The remaining 23 stocks (including VIC, HPG, VHM, FPT, MSN) may attract USD 1.5-1.7 billion in foreign inflows upon Vietnam's expected upgrade in September 2026.

Fertilizer stocks surged on April 29, bucking a broad market selloff that saw the VN-Index drop nearly 22 points. BFC hit the ceiling at VND 67,600, while DCM rose 5.82% to VND 42,700, supported by bargain hunting and higher global oil prices. The sector's defensive appeal and raw material cost tailwinds attracted strong buying interest.

DPM reported Q1 2026 pre-tax profit of 515 billion VND, surpassing its quarterly plan by 61% and achieving 61% of the full-year target of 850 billion VND. Revenue reached 5,706 billion VND, 150% of the quarterly plan, supported by higher fertilizer and chemical output. The strong start positions the company well to meet its 2026 goals, including a 12% dividend payout.