Event Details

The 46th Annual General Meeting (AGM) of Deepak Fertilisers And Petrochemicals Corporation Limited was held on Tuesday, 1st September, 2026 through Video Conference (VC)/Other Audio Visual Means (OAVM). The meeting commenced at 11:00 a.m. and concluded at 12:38 p.m.

Attendance and Proceedings

  • 64 Members attended the meeting through VC/OAVM
  • Mr. Sailesh C. Mehta, Chairman and Managing Director, chaired the meeting
  • The meeting was conducted in compliance with circulars from the Ministry of Corporate Affairs and SEBI
  • Dr. Purvi Mehta Bhatt, Independent Woman Director, could not join due to an overlap with another global board meeting

Board Changes Since Last AGM

1. Dr. Purvi Mehta Bhatt inducted as Independent Woman Director effective 1st January, 2026

2. Mr. Yeshil Sailesh Mehta inducted as Non-executive Non-Independent Director effective 1st July, 2026

3. Mrs. Varsha Purandare ceased to be Independent Director upon completion of her second term on 30th January, 2026

Auditor Reports

The Company Secretary confirmed no qualifications, observations or comments in the reports of Statutory Auditors (P G Bhagwat LLP) and Secretarial Auditor (GDR & Partners LLP).

Business Items Approved

The following items from the AGM notice were considered and approved:

Ordinary Business:

1. Adoption of audited standalone and consolidated financial statements for FY ended 31st March, 2026 with Board of Directors and Auditors reports

2. Declaration of dividend on equity shares for FY ended 31st March, 2026

3. Re-appointment of Mr. Madhumilan Parshuram Shinde (DIN: 06533004) who retired by rotation

4. Re-appointment of P G Bhagwat LLP as Statutory Auditors for a second term of 5 years

Special Business:

5. Ratification of remuneration payment to Harshad S. Deshpande & Associates, Cost Accountants (Registration No. 00378)

6. Appointment of Mr. Yeshil Sailesh Mehta (DIN: 07866312) as Non-Executive Non-Independent Director

Financial Performance Highlights

FY2025-26 Consolidated Results:

  • Operating Revenue: Over ₹11,500 Cr
  • Operating EBITDA: Over ₹1,650 Cr
  • Profit After Tax: Around ₹740 Cr
  • Profitability impacted by temporary cyclical headwinds including weaker IPA prices, higher LNG costs, lower ammonia incentives, and elevated fertiliser input costs

Q1 FY2027 Performance:

  • Strongest quarter in company's history with highest-ever EBITDA
  • PAT doubled over same quarter last year
  • Performance validation of integrated Gas-to-Ammonia-to-downstream value chain strategy

Strategic Projects Update

Gopalpur TAN Project:

  • Capacity: 376 KTPA
  • Completion: 96% complete
  • Expected Commissioning: H2 FY27
  • Post-expansion total AN capacity: ~1.0 MMTPA (will make company 3rd largest pure-play TAN producer globally)
  • Strategic location advantages: closer to major mining areas in East India, port-based location favorable for exports

Dahej Nitric Acid Expansion:

  • Capacity: WNA 300 KTPA & CNA 150 KTPA
  • Completion: 93% complete
  • Expected Commissioning: H2 FY27
  • Post-expansion total Nitric Acid capacity: ~1.7 MMTPA (will make company Asia's largest Nitric Acid manufacturer)
  • Strategic location: closer to major consumers in West and Central India
  • 65% CNA capacity tied up through 20-year long-term contract

Total Capital Outlay: Approximately ₹4,650 Cr for both projects

Business Segment Performance

Crop Nutrition (Mahadhan):

  • Crop-specific fertiliser portfolio grew 25% to ~250 KT, reaching nearly one million farmers
  • Crop-specific and specialty fertilisers contribute 33% of crop nutrition revenue (43% in Q1 FY27)
  • India's only manufacturer of Prilled NP 24:24:0 fertiliser
  • India's largest manufacturer of Bentonite Sulphur
  • Market leader in specialty and water-soluble fertilizers

Mining Chemicals (DMSL):

  • 40% dominant market share
  • TAN B2C segment contribution: 16% of total revenue in FY26 (17% in Q1 FY27)
  • India's only manufacturer of High Density, Low Density & Medical Grade Ammonium Nitrate
  • Completed acquisition of Chardham Chemicals and 100% acquisition of balance equity in Australian venture of Platinum Blasting Services

Industrial Chemicals:

  • Category leader in Nitric Acid across South-East Asia
  • Dominant market share: 60% in CNA, 24% in DNA
  • Merchant Nitric Acid sales crossed 300 KT
  • India's leading pharma-grade IPA manufacturer
  • Targeting India's first WHO-GMP certified IPA facility by FY27

Financial Position (as of June 2026)

  • Short-term Debt: ₹440 Cr (Mar-26: ₹1,060 Cr)
  • Long-term Debt: ₹4,617 Cr (Mar-26: ₹4,426 Cr)
  • Total Debt: ₹5,057 Cr (Mar-26: ₹5,486 Cr)
  • Cash & Cash Equivalents: ₹308 Cr (Mar-26: ₹397 Cr)
  • Other Bank Balances: ₹30 Cr (Mar-26: ₹139 Cr)
  • Net Debt: ₹4,719 Cr (Mar-26: ₹4,824 Cr)
  • Leverage Ratios: Net Debt/Equity: 0.60x (Mar-26: 0.65x), Net Debt/EBITDA: 1.40x (Mar-26: 2.86x)
  • Q1 FY27 Capital Expenditure: ₹515 Cr

Dividend Declaration

The Board recommended a 100% dividend for FY2025-26, balancing long-term prospects, growth, and shareholder returns.

Voting and Results

  • E-voting facility provided to members prior to and during AGM
  • Mr. Ashish Garg, Designated Partner of GDR & Partners LLP, appointed as Scrutinizer
  • E-voting results and consolidated Scrutinizer's Report to be informed to stock exchanges and placed on company website

Forward-Looking Statements

The presentation contains forward-looking statements subject to risks including market conditions, macroeconomic factors, governmental regulations, currency fluctuations, competitive pressures, and technological developments.