Aug 08, 2022 04:01 PM
Commodity Chemicals firm Deepak Nitrite declares Q4FY22 result:
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.”
|Jul 25, 2022||Dividend||350|
|Jul 20, 2021||Dividend||225|
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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.
Aaditya-I, Chhani Road, Vadodara, Gujarat, 390024
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