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Deepak Nitrite Results: Latest Quarterly Results & Analysis

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Deepak Nitrite Ltd. 14 Aug 2025 12:30 PM
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Q1FY26 Quarterly Result Announced for Deepak Nitrite Ltd.

Commodity Chemicals company Deepak Nitrite announced Q1FY26 results

  • Total Income: Rs 1,897 crore compared to Rs 2,186 crore during Q1FY25, change -13%.
  • EBITDA: Rs 197 crore compared to Rs 328 crore during Q1FY25, change -40%.
  • PAT: Rs 138 crore compared to Rs 275 crore during Q1FY25, change -50%.

Deepak C. Mehta, Chairman & Managing Director, said: The first quarter of FY26 has reinforced our belief that ‘Destination Bharat’ is not just a strategic choice but a resilient foundation for continued long-term growth of our business. Amidst a volatile geopolitical environment marked by shifting global trade dynamics and elevated tariffs, Deepak continues to benefit from its India-centric, import-substitution-led business model. Domestic consumption remains robust, and our backward and forward integration strategy is proving effective in helping us navigate pricing pressures and demand fluctuations across global markets.

Our Phenolics segment, powered by favourable domestic demand, continues to excel, laying a solid foundation for future growth. Concurrently, our AI segment is emerging from a period of global headwinds. We are channelling our resources to accelerate strategic initiatives that will not only help us weather current market conditions but also position us at the forefront of the next wave of industry innovation. This unwavering focus on our long-term vision ensures we are building a more resilient and forward-looking enterprise.

We stand at the threshold of a transformative phase, marked by giant leaps in industry leadership, strategic technology partnerships, and large-scale CAPEX initiatives. Multiple projects are currently underway, some successfully commercialised, with a robust pipeline scheduled for rollout over the coming quarters. These initiatives span a wide spectrum of objectives, including capacity expansion, securing stable input supplies, and driving both backward integration for production efficiency as well as forward integration into new product lines. Our renewable energy transition, which began yielding tangible benefits in March 2025, is already enhancing energy security and strengthening the sustainability footprint across operations. Collectively, these efforts are set to deepen integration across our value chain and significantly elevate our competitive positioning in the market.

Our unwavering commitment to innovation, import substitution, and global market expansion continues to strengthen our agility and responsiveness to the evolving needs of our customers. Looking ahead, we are confident that Deepak’s deeply integrated and scalable business model is uniquely positioned to play a pivotal role in shaping a self-reliant chemical ecosystem for a Viksit Bharat.

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Commodity Chemicals firm Deepak Nitrite announced Q4FY23 results:

  • Q4FY23:
    • Revenue: Rs 1,974 crore, up 5% YoY, down 2% QoQ
    • EBITDA: Rs 361 crore, down 13% YoY, up 10% QoQ
    • PAT: Rs 234 crore, down 13% YoY, up 12% QoQ
  • FY23:
    • Revenue: Rs 8,070 crore, up 17% YoY
    • EBITDA: Rs 1,337 crore, down 19% YoY
    • PAT: Rs 852 crore, down 20% YoY

Commenting on the performance for Q4FY23 & FY23, Deepak C. Mehta, Chairman & Managing Director said: “Our company has performed well in the fiscal year 2023, with healthy topline growth driven by stable demand and high plant efficiency. We have strengthened our market position in several product portfolios and achieved production and delivery volume benchmarks. Despite inflationary pressures in some inputs and utilities, we remain committed to sustainable profitability, focused on people, the planet, and profit.

We are extending our product portfolio by introducing new products from our R&D pipeline, confident that our growing footprint across established and new chemistries will sustain our momentum. We have efficiently faced challenges, and fulfilled our supply commitments, ensuring a consistent and steady supply of products to customers. We remain agile, capitalizing on opportunities created through swift shifts in the industry landscape, and excited by our prospects.

Our large-scale investment plans reflect our enthusiasm to capitalize on the opportunities available both in India and worldwide. We continue to diversify our product offering by introducing novel intermediates, broadening our clientele, and improving the overall value proposition. Our robust financial position, deep client relationships, and considered growth investments position us well to elevate our business proposition and consistently enhance value for stakeholders.”

 

 

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Commodity Chemicals firm Deepak Nitrite declares Q4FY22 result:

  • In FY22, reported highest ever Revenue, EBITDA and PAT in the Company’s history, despite a challenging operating environment that was marked by rising prices of key raw materials and other utilities, constraints in logistics and material movement as well as increased uncertainty in global trade on the back of Russia-Ukraine conflict
  • Reported Consolidated PAT of Rs. 1,067 crore in FY22 surpassing the milestone of Rs. 1,000 crore in Annual PAT
  • Premised on robust financial performance during the year, the Board of Directors has declared a Final Dividend of Rs. 7 per equity share (350%) of Rs. 2 each for FY2021-22 towards rewarding the shareholders
  • Deepak Nitrite’s solid financial performance demonstrates the strength of its efficient manufacturing model with adequate backward integration and depth of multi-year relationships with key customers
  • On a consolidated basis, DNL stood debt free on basis of net debt with strong Networth of Rs. 3,338 crore, enabling ample scope to leverage the strong balance sheet for future expansion
  • Credit rating agency ICRA has upgraded DNL’s rating outlook from AA (stable) to AA (positive) and DPL‘s credit rating has been enhanced from AA- (stable) to AA (Positive) within a span of less than a year
  • Strong performance by all segments as the Company reported highest ever quarterly turnover in its 50 year history
  • Volume growth for several products during the quarter enabled the Company to deliver traction in revenues
  • Formula based pricing, increase in wallet share with large customers and addition of newer customers and geographies have supported the revenue momentum.
  • Better realisations combined with higher plant efficiency and operating leverage drove EBITDA margins to 22% during the quarter
  • This is despite the impact of severe ongoing logistics challenges, skyrocketing coal and RLNG prices which impacted cost of utilities and lifetime high input prices for several key raw materials.
  • PAT performance was in-line with operational performance during the quarter, further aided by significantly lower finance costs
  • Pass through of higher input prices and better planning resulted in production of high-demand products, thereby leading to enhanced profitability on QoQ basis.

Commenting on the performance for Q4 & FY22, Mr. Deepak C. Mehta, Chairman & Managing Director said:  “Our FY22 performance encapsulates the heightened resilience and agility in our Business Model as we have scaled new benchmarks in revenues and profitability during the year. This was achieved in the backdrop of sharp inflation in operating costs, higher input prices and disrupted supply chains. Both Revenues and PAT demonstrated significant growth in FY22 on a consolidated basis. The Company sustains a high degree of efficiency and continues to make progress on several growth initiatives. We will continue to be nimble to the changing needs and preferences of our customers and deliver specialized solutions. While doing so, we will prudently deploy capital to elevate our market position in the chosen chemistries. Our foray into advanced solvents will diversify our product portfolio, broaden our customer base, and raise the amount of sophisticated, high-margin products in the portfolio, thereby enhancing our business proposition.”

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Commodity Chemicals company Deepak Nitrite declares Q3FY22 result:

  • Continued robust revenue momentum was fueled by solid growth trajectory in Phenolics. This was further supported by gains in BI and PP segment led by positive demand and higher realisation for key products
  • EBITDA performance was achieved despite impact of temporary disruption in RM costs as well as increase in utility costs, including coal, natural gas, etc.
  • PAT performance was in-line with stable operational performance, partly bolstered by sharp reduction in finance costs owing to repayment of high-cost debt
  • Healthy revenue growth was driven by strong gains in Phenolics, further bolstered by improvement in BI and PP segment
  • Deepak followed dynamic approach based on anticipated demand for key products
  • Notwithstanding sharp increase in input & utility costs, the Company demonstrated solid EBITDA momentum on absolute basis
  • Although margin corrected due to extreme volatility in RM & energy prices and other costs
  • Achieved highest-ever profitability in the 9M period supported by positive contribution from BI, PP and Phenolics SBU
  • Finance costs were low on account of sizeable prepayments of term loan made during the period

Commenting on the performance for Q3 & 9M FY22 Mr. Deepak C. Mehta, Chairman & Managing Director said: “The world continued its track record of unprecedented volatility in price and availability of commodities like coal, petrochemicals and even inorganics. This tumultuous environment tested the company and management on its judgement, agility and responsiveness to customer concerns. While we work to mitigate short term challenges and focus on operating efficiencies, we are heartened to see record breaking top line performance of both companies on the back of increase in customer dependance on Deepak for uninterrupted supply. Coupled with this strategic impetus, growing Indian demand beckons us to do much more. As new products enter the Deepak family, our strengths of research capability, process intensification and wide product basket help steer us north with confidence.”

 

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Highlights

  • Revenues at Rs. 1,690 crore, up by 70% Y-o-Y
  • EBITDA at Rs. 395 crore, higher by 41% Y-o-Y
  • PAT, at Rs. 254 crore, rises 49% on a Y-o-Y basis
  • Revenues at Rs. 3,224 crore, up by 93% Y-o-Y
  • EBITDA at Rs. 855 crore, higher by 83% Y-o-Y
  • PAT, at Rs. 557 crore, rises 107% on a Y-o-Y basis
  • EPS of Rs. 40.84 per share, higher by 107% Y-o-Y
  • Revenues were up 93% at Rs. 3,224 crore in H1 FY22 compared to Rs. 1,673 crore in H1 FY21. Overall, the Company has been highly responsive in order to optimise opportunities from the improved operating environment. In addition, the growth has been led by incremental gains in the BI SBU as well as the Phenolics business.
  • EBITDA of Rs. 855 crore in H1 FY22 compared to Rs. 468 crore in H1 FY21, up by 83%. Extra The improved operating performance in the current year-to-date has driven EBITDA growth. EBITDA margin has been largely stable on a y-o-y basis at 27% in H1 FY22 despite unprecedented rise in input prices.
  • PAT grew by 107% at Rs. 557 crore in H1 FY22 compared to Rs. 269 crore in H1 FY21. All functions of the Company have contributed towards attaining newer benchmark of profitability in the first half.
  • EPS for H1 FY22 was Rs. 40.84 per share (of face value of Rs. 2 each) as compared to Rs. 19.73 per share in H1 FY21.
  • Revenues were up 70% at Rs. 1,690 crore in Q2 FY22 compared to Rs. 991 crore in Q2 FY21. SBUs of BI, PP and Phenolics delivered scaled up performance during the quarter benefiting from operating leverage on account of better operating environment. The FSC segment delivered stable volumes according to business plan despite constraints to availability of inputs and challenges with respect to logistics.
  • EBITDA was Rs. 395 crore in Q2 FY22 compared to Rs. 280 crore in Q2 FY21, higher by 41% on a y-o-y basis. The EBITDA Margin was 23% compared to 28% in the same quarter of corresponding year due to combination of higher input prices as well as increased cost of power and logistics
  • PAT was Rs. 254 crore in Q2 FY22 compared to Rs. 170 crore in Q2 FY21, higher by 49%. In addition to the strong operational performance, PAT performance was enhanced by the reduction in finance costs.
  • EPS for Q2 FY22 was Rs. 18.65 per share (of face value of Rs. 2 each) as compared to Rs. 12.48 per share in Q2 FY21.

Commenting on the performance, Mr. Deepak C. Mehta, Chairman & Managing Director, said  “I’m glad to see the best of DNL once again brought to the fore in the face of challenges ranging from COVID, raw material and freight fluctuation and energy costs. This is a testament to the kind of systems and people we have in place to deliver sustainable results.

We are embarking on the next phase of our transformation into a diversified chemical company that has the dual capability to maintain its leadership position in its existing value chain while applying itself to innovative new platforms and products. I anticipate a deeper partnership between Deepak and its strategic customers as significant volumes of our current and future products are supplied as part of long term, formula linked arrangements. In the meanwhile, the company will continue to place a high degree of importance to the twin pillars of process intensification and operational excellence in a responsible and sustainable manner.

Growth going forward will be driven by planned expansion initiatives across SBUs and tactical introduction of several downstream chemicals and complex chemical platforms. We remain focused on our agility enabling us to capitalise on opportunities that emerge from rapid shifts across the industry landscape. Our entry into newer solvents will diversify our product portfolio, expand our client base, and increase the percentage of complex, high-margin products in the mix, thereby enhancing our business proposition."

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