On consolidated basis
Quarter ended December
2025 compared with Quarter ended December 2024.
Net sales (including other operating income) of Deepak Nitrite has increased
3.76% to Rs 1974.97 crore. Sales of Phenolics segment has gone down
2.34% to Rs 1,333.79 crore (accounting for 67.15% of total
sales). Sales of Advanced Intermediates segment has gone up 18.26%
to Rs 652.45 crore (accounting for 32.85% of total
sales). Inter-segment sales came down from Rs 14.03 crore to Rs
11.27 crore.
Profit before interest,
tax and other unallocable items (PBIT) has jumped 16.09% to Rs 160.26
crore. PBIT of Phenolics segment rose 19.91% to Rs 145.32 crore
(accounting for 90.68% of total PBIT). PBIT of Advanced
Intermediates segment fell 11.39% to Rs 14.94 crore (accounting for 9.32% of
total PBIT).
PBIT margin of Phenolics
segment rose from 8.87% to 10.90%. PBIT margin of Advanced
Intermediates segment fell from 3.06% to 2.29%. Overall PBIT margin
rose from 7.20% to 8.07%.
Operating profit margin
has jumped from 8.85% to 10.68%, leading to 25.13% rise in operating profit to
Rs 210.90 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 71.78% to 68.71%. Purchase of
finished goods cost rose from 0.73% to 3.75%. Employee cost
increased from 5.29% to 5.34%. Other expenses fell from 13.12% to
11.63%. Power and Oil fuel cost fell from 5.87% to 5.35%.
Other income fell 59.50%
to Rs 8.5 crore. PBIDT rose 15.76% to Rs 219.4
crore. Provision for interest rose 80.69% to Rs 11.04
crore.
PBDT rose 13.60% to Rs
208.36 crore. Provision for depreciation rose 19.35% to Rs 57.55
crore.
Profit before tax grew
11.55% to Rs 150.81 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 38.15 crore, compared
to Rs 37.07 crore. Effective tax rate was 27.65% compared to 27.42%.
Minority interest
decreased 25% to Rs 0.03 crore. Net profit attributable to owners of
the company increased 1.73% to Rs 99.79 crore.
Promoters’ stake was
49.33% as of 31 December 2025 ,compared to 49.24% as of 31 December 2024
.
For year-to-date (YTD) results
analysis.
Net sales (including other operating income) of Deepak Nitrite has declined
5.50% to Rs 5766.74 crore. Sales of Phenolics segment has gone down
7.06% to Rs 3,971.21 crore (accounting for 68.27% of total
sales). Sales of Advanced Intermediates segment has gone down 1.48%
to Rs 1,845.63 crore (accounting for 31.73% of total
sales). Inter-segment sales rose Rs 43.96 crore to Rs 50.10
crore.
Profit before interest,
tax and other unallocable items (PBIT) has slumped 28.63% to Rs 481.38
crore. PBIT of Phenolics segment fell 24.95% to Rs 408.00 crore
(accounting for 84.76% of total PBIT). PBIT of Advanced
Intermediates segment fell 43.91% to Rs 73.38 crore (accounting for 15.24% of
total PBIT).
PBIT margin of Phenolics
segment fell from 12.72% to 10.27%. PBIT margin of Advanced
Intermediates segment fell from 6.98% to 3.98%. Overall PBIT margin
fell from 10.97% to 8.28%.
Operating profit margin
has declined from 12.70% to 10.49%, leading to 21.99% decline in operating
profit to Rs 604.73 crore. Raw material cost as a % of total sales
(net of stock adjustments) increased from 68.42% to 68.46%.
Purchase of finished goods cost rose from 1.84% to 3.72%.
Employee cost increased from 4.73% to 5.42%. Other
expenses fell from 12.39% to 11.91%. Power and Oil fuel cost fell
from 5.68% to 5.67%.
Other income fell 13.20%
to Rs 53.01 crore. PBIDT fell 21.35% to Rs 657.74
crore. Provision for interest rose 49.28% to Rs 27.11
crore.
PBDT fell 22.92% to Rs
630.63 crore. Provision for depreciation rose 12.44% to Rs 162.05
crore.
Profit before tax down
30.48% to Rs 468.58 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 124.91 crore, compared
to Rs 179.18 crore. Effective tax rate was 27.41% compared to
26.58%.
Minority interest
increased 200% to Rs 0.12 crore. Net profit attributable to owners
of the company decreased 33.16% to Rs 330.71 crore.
Promoters’ stake was
49.33% as of 31 December 2025 ,compared to 49.24% as of 31 December 2024
.
Full year results analysis.
Net sales (including other operating income) of Deepak Nitrite has increased
7.81% to Rs 8281.93 crore. Sales of Phenolics segment has gone up
16.02% to Rs 5,805.10 crore (accounting for 69.67% of total
sales). Sales of Advanced Intermediates segment has gone down 7.22%
to Rs 2,527.31 crore (accounting for 30.33% of total
sales). Inter-segment sales rose Rs 45.50 crore to Rs 50.48 crore.
Profit before interest,
tax and other unallocable items (PBIT) has slumped 12.03% to Rs 958.66
crore. PBIT of Phenolics segment rose 21.59% to Rs 782.96 crore
(accounting for 81.67% of total PBIT). PBIT of Advanced
Intermediates segment fell 60.59% to Rs 175.70 crore (accounting for 18.33% of
total PBIT).
PBIT margin of Phenolics
segment rose from 12.87% to 13.49%. PBIT margin of Advanced
Intermediates segment fell from 16.37% to 6.95%. Overall PBIT margin
fell from 14.10% to 11.51%.
Operating profit margin
has declined from 14.62% to 13.18%, leading to 2.81% decline in operating
profit to Rs 1,091.76 crore. Raw material cost as a % of total sales
(net of stock adjustments) increased from 66.71% to 68.39%.
Purchase of finished goods cost rose from 1.02% to 1.58%.
Employee cost increased from 4.63% to 4.72%. Other
expenses fell from 12.82% to 12.16%. Power and Oil fuel cost fell
from 6.03% to 5.58%.
Other income rose 10.20%
to Rs 83.86 crore. PBIDT fell 1.98% to Rs 1175.62
crore. Provision for interest rose 132.46% to Rs 27.5
crore. Loan funds rose to Rs 1,267.01 crore as of 31 March 2025 from
Rs 286.08 crore as of 31 March 2024. Inventories rose to Rs 926.40
crore as of 31 March 2025 from Rs 759.91 crore as of 31 March 2024. Sundry
debtors were lower at Rs 1,273.81 crore as of 31 March 2025 compared to Rs
1,298.35 crore as of 31 March 2024. Cash and bank balance declined
from Rs 465.46 crore as of 31 March 2024 to Rs 406.56 crore as of 31 March
2025. Investments rose to Rs 510.89 crore as of 31 March 2025 from
Rs 121.85 crore as of 31 March 2024 .
PBDT fell 3.32% to Rs
1148.12 crore. Provision for depreciation rose 17.93% to Rs 195.37
crore. Fixed assets increased to Rs 4,103.62 crore as of 31 March
2025 from Rs 3,016.62 crore as of 31 March 2024. Intangible assets
declined from Rs 49.61 crore to Rs 2.66 crore.
Profit before tax down
6.77% to Rs 952.75 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 255.38 crore, compared
to Rs 290.84 crore. Effective tax rate was 26.80% compared to
26.40%.
Net profit attributable
to owners of the company decreased 14.02% to Rs 697.24 crore.
Equity capital stood at
Rs 27.28 crore as of 31 March 2025 to Rs 27.28 crore as of 31 March
2024. Per share face Value remained same at Rs 2.00.
Promoters’ stake was
49.28% as of 31 March 2025 ,compared to 49.13% as of 31 March 2024
.
Cash flow from operating
activities decreased to Rs 624.70 crore for year ended March 2025 from Rs
874.06 crore for year ended March 2024. Cash flow used in acquiring
fixed assets during the year ended March 2025 stood at Rs 1,136.30 crore,
compared to Rs 767.71 crore during the year ended March 2024.
Management Commentary:
Commenting
on the results, Deepak C Mehta said: The chemical industry continues to
experience significant pricing pressures driven by persistent oversupply and
heightened competitive intensity, particularly from Chinese producers. Despite
these external challenges, our diversified portfolio, operational discipline,
and strong customer relationships hold us in good stead.
n
Deepak Chem Tech Limited (DCTL), we have completed our vertical integration
across the ammonia-nitration-amines chain establishing Deepak Group as a
premier global player. This strategic move unlocks a wider product range,
secures our operations against market volatility, and delivers superior margins
and cost efficiency across our key intermediates.
In
parallel, we have been taking decisive and tangible steps across the
Phenol-to-Polycarbonate value chain, marking significant progress in our state
of preparedness for this next phase of growth. We are systematically building
an integrated ecosystem spanning through raw material security to final
Polycarbonate product, supported by strategic tie-ups with key vendors and
suppliers. Necessary financial arrangements and funding tie-ups have been put
in place to underpin these initiatives, ensuring readiness from both - capital
and balance-sheet perspective. Concurrently, engineering activities are
underway, with technology sourcing and engagement with global licensors
progressing as planned. Collectively, these actions represent a giant leap in
our execution preparedness and reinforce our commitment to creating a fully
integrated, high-value specialty materials platform.
During
the third quarter, Deepak Group once again demonstrated resilience and
adaptability in the face of a demanding global environment. Our core businesses
remained operationally resilient during the quarter. The Phenolics segment
benefited from consistent plant operations and improved volumes, reflecting the
advantages of integration and our continued emphasis on efficiency. While
pricing conditions across markets remained soft, the business sustained its
momentum through prudent cost management and a balanced market approach. Our
commitment to disciplined growth, operational excellence, and long-term value
creation for stakeholders remains unwavering.
Recent
developments in key export markets warrant cautious optimism, particularly for
volume growth. In response, we remain firmly focused on innovation, new product
development, and geographic diversification, across multiple chemistries.
While
the Group continues to work on different value chains, it has committed to
establish integration across chains. This increases overall margins, resilience
in challenging times, also reduces carbon footprint. Deepak will continue to
look at this across present and future investment plans. Three mantras would be
our guiding principles creating different value chains with high degree of
integration.
1.
World’s best quality
2.
World’s best capacity
3.
Complete integration across value chain
Current
market condition of all petrochemical products globally are undergoing severe
pressure, however, our integration would help us to be resilient and be ready
to take benefits during cyclical turnarounds.”| Deepak Nitrite : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202512 | 202412 | Var.(%) | 202512 | 202412 | Var.(%) | 202503 | 202403 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,974.97 | 1,903.40 | 3.76 | 5,766.74 | 6,102.24 | -5.50 | 8,281.93 | 7,681.83 | 7.81 | | OPM (%) | 10.68 | 8.85 | 182 bps | 10.49 | 12.70 | -222 bps | 13.18 | 14.62 | -144 bps | | OP | 210.90 | 168.54 | 25.13 | 604.73 | 775.24 | -21.99 | 1,091.76 | 1,123.28 | -2.81 | | Other Inc. | 8.50 | 20.99 | -59.50 | 53.01 | 61.07 | -13.20 | 83.86 | 76.10 | 10.20 | | PBIDT | 219.40 | 189.53 | 15.76 | 657.74 | 836.31 | -21.35 | 1,175.62 | 1,199.38 | -1.98 | | Interest | 11.04 | 6.11 | 80.69 | 27.11 | 18.16 | 49.28 | 27.50 | 11.83 | 132.46 | | PBDT | 208.36 | 183.42 | 13.60 | 630.63 | 818.15 | -22.92 | 1,148.12 | 1,187.55 | -3.32 | | Depreciation | 57.55 | 48.22 | 19.35 | 162.05 | 144.12 | 12.44 | 195.37 | 165.66 | 17.93 | | PBT | 150.81 | 135.20 | 11.55 | 468.58 | 674.03 | -30.48 | 952.75 | 1021.89 | -6.77 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0.04 | - | | PBT before EO | 150.81 | 135.2 | 11.55 | 468.58 | 674.03 | -30.48 | 952.75 | 1021.93 | -6.77 | | EO Income | -12.84 | 0 | - | -12.84 | 0 | - | 0 | 79.8 | - | | PBT after EO | 137.97 | 135.2 | 2.05 | 455.74 | 674.03 | -32.39 | 952.75 | 1101.73 | -13.52 | | Taxation | 38.15 | 37.07 | 2.91 | 124.91 | 179.18 | -30.29 | 255.38 | 290.84 | -12.19 | | PAT | 99.82 | 98.13 | 1.72 | 330.83 | 494.85 | -33.15 | 697.37 | 810.89 | -14.00 | | Minority Interest (MI) | 0.03 | 0.04 | -25.00 | 0.12 | 0.04 | 200.00 | 0.13 | -0.01 | PL | | Net profit | 99.79 | 98.09 | 1.73 | 330.71 | 494.81 | -33.16 | 697.24 | 810.9 | -14.02 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 99.79 | 98.09 | 1.73 | 330.71 | 494.81 | -33.16 | 697.24 | 810.9 | -14.02 | | EPS (Rs)* | 8.00 | 7.19 | 11.20 | 24.93 | 36.28 | -31.28 | 51.12 | 55.15 | -7.30 | | | * EPS is on current equity of Rs 27.28 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Deepak Nitrite : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202512 | 202412 | Var.(%) | % of (Total) | 202512 | 202412 | Var.(%) | % of (Total) | 202503 | 202403 | Var.(%) |
|---|
| Sales | | Bulk Chemicals & Commodities | 0.00 | 0.00 | 0.00 | - | | Fine & Speciality Chemicals | 0.00 | 0.00 | 0.00 | - | | Fluorescent Whitening Agent | 0.00 | 0.00 | 0.00 | - | | Phenolics | 67.15 | 1,333.79 | 1,365.74 | -2.34 | 68.27 | 3,971.21 | 4,272.83 | -7.06 | 69.67 | 5,805.10 | 5,003.45 | 16.02 | | Basic Chemicals | 0.00 | 0.00 | 0.00 | - | | Performance Products | 0.00 | 0.00 | 0.00 | - | | Advanced Intermediates | 32.85 | 652.45 | 551.69 | 18.26 | 31.73 | 1,845.63 | 1,873.37 | -1.48 | 30.33 | 2,527.31 | 2,723.88 | -7.22 | | Total Reported Sales | 100.00 | 1,986.24 | 1,917.43 | 3.59 | 100.00 | 5,816.84 | 6,146.20 | -5.36 | 100.00 | 8,332.41 | 7,727.33 | 7.83 | | Less: Inter segment revenues | | 11.27 | 14.03 | -19.67 | | 50.10 | 43.96 | 13.97 | | 50.48 | 45.50 | 10.95 | | Net Sales | 100.00 | 1,974.97 | 1,903.40 | 3.76 | 100.00 | 5,766.74 | 6,102.24 | -5.50 | 100.00 | 8,281.93 | 7,681.83 | 7.81 | | PBIT | | Bulk Chemicals & Commodities | 0.00 | 0.00 | 0.00 | - | | Fine & Speciality Chemicals | 0.00 | 0.00 | 0.00 | - | | Fluorescent Whitening Agent | 0.00 | 0.00 | 0.00 | - | | Phenolics | 90.68 | 145.32 | 121.19 | 19.91 | 84.76 | 408.00 | 543.63 | -24.95 | 81.67 | 782.96 | 643.92 | 21.59 | | Basic Chemicals | 0.00 | 0.00 | 0.00 | - | | Performance Products | 0.00 | 0.00 | 0.00 | - | | Advanced Intermediates | 9.32 | 14.94 | 16.86 | -11.39 | 15.24 | 73.38 | 130.82 | -43.91 | 18.33 | 175.70 | 445.85 | -60.59 | | Total PBIT | 100.00 | 160.26 | 138.05 | 16.09 | 100.00 | 481.38 | 674.45 | -28.63 | 100.00 | 958.66 | 1,089.77 | -12.03 | | Less : Interest | | 11.04 | 6.11 | 80.69 | | 27.11 | 18.16 | 49.28 | | 27.50 | 11.83 | 132.46 | | Add: Other un-allcoable | | -11.25 | 3.26 | PL | | 1.47 | 17.74 | -91.71 | | 21.59 | 23.78 | -9.21 | | PBIT Margin(%) | | Bulk Chemicals & Commodities | | 0.00 | 0.00 | 0.00 | | Fine & Speciality Chemicals | | 0.00 | 0.00 | 0.00 | | Fluorescent Whitening Agent | | 0.00 | 0.00 | 0.00 | | Phenolics | | 10.90 | 8.87 | 202.17 | | 10.27 | 12.72 | -244.90 | | 13.49 | 12.87 | 61.79 | | Basic Chemicals | | 0.00 | 0.00 | 0.00 | | Performance Products | | 0.00 | 0.00 | 0.00 | | Advanced Intermediates | | 2.29 | 3.06 | -76.62 | | 3.98 | 6.98 | -300.73 | | 6.95 | 16.37 | -941.61 | | PBT | 100.00 | 137.97 | 135.20 | 2.05 | 100.00 | 455.74 | 674.03 | -32.39 | 100.00 | 952.75 | 1,101.72 | -13.52 |
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