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Deepak Nitrite Ltd share Price Today

Company details

2,196.00
2,267.65
1,900.20
2,619.80
6M Return 0.15%
1Y Return 6.00%
Mkt Cap.(Cr) 30,108.75
Volume 575,793
Div Yield 0.33%
OI
-
OI Chg %
-
Volume 575,793

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Technical Outlook
    Chemical stocks has been in limelight in the last two months after witnessing price/time correction in the preceding 18 months signalling that worst is behind and risk/reward turning favourable over medium term. Within the Chemical stocks we remain constructive on Deepak Nitrate as it has recently generated a breakout above a falling resistance line joining highs of Oct21 (₹ 3020) and Nov22 (₹ 2356) sustaining above the same post  Q4 earnings,    providing an entry opportunity from medium term

     The stocks has recently rebounded after a shallow retracement and a higher base at the 80% retracement of the Jul-Oct 2022 up move (₹ 1682-2356) and is currently seen forming higher high-low in the monthly time frame highlighting structural turnaround

     We expect the stock to maintain positive bias and head towards ₹ 2390 levels in the coming months as it is the price parity with the previous Jul-Oct 2022 up move (₹1682-2356) as projected from the March 2023 low of ₹ 1762

Q1FY

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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.”

 

 

Result PDF

View Other Company Results

Deepak Nitrite Ltd shares SWOT Analysis

Strengths (8)

  • Rising Net Cash Flow and Cash from Operating activity
  • Growth in Net Profit with increasing Profit Margin (QoQ)
  • Company with Low Debt

Weakness (6)

  • Negative Breakdown Third Support (LTP < S3)
  • Inefficient use of capital to generate profits - RoCE declining in the last 2 years
  • Inefficient use of shareholder funds - ROE declining in the last 2 years

Opportunity (0)

Data not found

Threats (2)

  • Increasing Trend in Non-Core Income
  • RSI indicating price weakness

Resistance and support

R1 2,289.2
R2 2,310.8
R3 2,323.5
Pivot

2,276.45

S1 2,254.9
S2 2,242.2
S3 2,220.6
EMA SMA
2,396.3
2,357.9
2,308.7
2,241.3
2,442.9
2,322.7
2,304.5
2,233.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-11-14 2118.15 89689 NSE
ISHARES CORE EMERGING MARKETS MAURITIUS CO Block Sell 2022-11-14 2118.15 89689 NSE
ISHARES CORE MSCI EMERGING MARKETS ETF Block Purchase 2022-11-03 2343.45 89689 BSE
Name Category Shares
Deepak Chimanlal Mehta PROMOTER 16.52%
Stiffen Credits And Capital Pvt Ltd PROMOTER 6.19%
Checkpoint Credits And Capital Pvt Ltd PROMOTER 5.28%
Stepup Credits And Capital Pvt Ltd PROMOTER 5.07%
Stigma Credits And Capital P Ltd PROMOTER 4.54%
Deepak Novochem Technologies Limited PROMOTER 3.41%
Skyrose Finvest Pvt Ltd PROMOTER 2.81%
Pranawa Leafin Pvt Ltd PROMOTER 1.69%
Forex Leafin Pvt Ltd PROMOTER 1.59%
Storewell Credits And Capital Private Ltd PROMOTER 0.65%
Sundown Finvest Pvt Ltd PROMOTER 0.61%

OUR RESEARCH VIEW

Investment recommendation
Call Date
05 Jun 2023
Entry Price 2,070.00
Target Price 2,390.00
Duration
3 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Deepak Nitrite Ltd Stocks COMPARISON

Financials( in Cr) Deepak Nitrite Ltd Pidilite Industries Ltd Linde India Ltd SRF Ltd Gujarat Fluorochemicals Ltd
Price 2,207.50 3,025.45 9,118.00 2,236.10 3,083.00
% Change -2.65 -0.38 8.35 -0.13 0.08
Mcap Cr 30,108.75 153,877.11 77,761.95 66,283.59 33,866.76
Revenue TTM Cr 7,972.06 11,799.10 3,135.52 14,870.25 5,684.66
Net Profit TTM Cr 852.00 1,288.87 538.06 2,162.34 1,323.05
PE TTM 41.11 86.70 165.42 49.70 77.83
1 Year Return 6.00 17.13 129.26 -11.77 -7.85
ROCE 29.81 24.24 16.29 21.98 29.38
ROE 22.94 18.93 14.70 22.89 27.07
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 4,089.96 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 38,211.58 -20,152.87
LAST 3M 113,440.41 -31,179.37
LAST 6M 172,266.38 32,742.67
LAST 12M 272,035.18 123,918.17
Deepak Nitrite Limited - Updates

May 29, 2024 l NSE Announcement

Deepak Nitrite Limited - Analysts/Institutional Investor Meet/Con. Call Updates

May 27, 2024 l NSE Announcement

Deepak Nitrite Limited - Loss of Share Certificates

May 23, 2024 l NSE Announcement

Date Action Type Ratio
Jul 27, 2023 Dividend 375
Jul 25, 2022 Dividend 350

Deepak Nitrite Ltd Information

Stock PE (TTM)
41.11
Promoter Holding
49.13%
Book Value
351.6762
ROCE
29.81%
ROE
22.94%
Description
  • Deepak Nitrite Ltd is within the Chemical sector with a market capitalization of worth Rs. 29,063.30 crores. It is incorporated within the year 1970. It reported the consolidated sales of Rs. 1,526.22 crores in June 2021. The corporate is also listed within the Bombay stock market (BSE) with the code 506401 and within the National stock market (NSE) with the code DEEPAKNTR.

    Deepak Nitrite Ltd was founded in March 1970 by Chimanlal Khimchand Mehta. It’s multiple manufacturing plants, out of which two are located within Gujarat, two in Maharashtra, and one is found within Telangana. The company deals with various chemicals alongside Agrochemicals, Colourants, Rubber, Pharmaceuticals, etc. Deepak Nitrite has various subsidiaries like Deepak Phenolics Ltd, Deepak Nitrite Corporation Inc., and Nova Synthetic Ltd. Deepak Nitrite has acquired management and control of Aryan Pesticides Limited. The company has 1897 employees on the payroll as of 31st March '2021. As of an equivalent date, it also has 2820 contractual employees. The company has a strong reputation and is a market leader in several products. This has resulted in consistently improving financial performance. As a result, ICRA has upgraded its long-term credit rating from “ICRA AA-” to “ICRA AA” of Deepak Nitrite. The promoters currently hold 45.69% of the stake within the company, whereas Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) hold 11.43% and 1.19% of the stake. The balance, 40.88%, is owned by others (32.59% by retail investors and 8.29% in Mutual Funds).

    In June 2021, quarterly income was Rs. 527.25 crores, which has increased by approximately 50.47% from Rs. 350.4 crores for the April-June 2020 quarter. The quarterly net income in June 2021 was Rs. 134.92 crores, which has increased by 112.11% to a net income of Rs. 63.61 crores in June 2020. In June 2021, operating profit has reported at Rs. 514.57 crores, which is up by approximately 61.30% from Rs. 319.01 crores for the quarter ending in June 2020. From Rs. 4.66 in June 2020, the EPS of Deepak Nitrite has increased to Rs. 9.89 in June 2021. DEEPAKNTR’s stock closed at Rs. 2135 on 13th August '2021 (NSE) and has returned 81.35% within the last six months and 255.23% within the previous year.

Registered Address

Aaditya-I, Chhani Road, Vadodara, Gujarat, 390024

Tel : 91-265-2765200/3960200
Email : investor:godeepak.com
Website : http://www.godeepak.com
Registrar

Sharepro Services

AGM Date (Month) : Aug
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 506401
NSE Code : DEEPAKNTR
Book Closure Date (Month) : Jul/Aug
BSE Group : A
ISIN : INE288B01029

FAQ’s on Deepak Nitrite Ltd Shares

You can buy Deepak Nitrite Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Deepak Nitrite Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 30, 2024 12:59 PM the closing price of Deepak Nitrite Ltd was Rs.2,207.50.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 30, 2024 12:59 PM, the market cap of Deepak Nitrite Ltd stood at Rs. 30,108.75.

The latest PE ratio of Deepak Nitrite Ltd as of May 30, 2024 12:59 PM is 41.11

The latest PB ratio of Deepak Nitrite Ltd as of May 30, 2024 12:59 PM is 0.16

The 52-week high of Deepak Nitrite Ltd share price is Rs. 2,619.80 while the 52-week low is Rs. 1,900.20

According to analyst recommendations, Deepak Nitrite Ltd Share has a "Buy" rating for the long term.

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