Financial Performance Highlights (Consolidated)

  • Revenue from Operations: ₹11,506 crore (12% growth from ₹10,274 crore in FY24-25)
  • Operating EBITDA: ₹1,684 crore (compared to ₹1,925 crore in FY24-25)
  • Profit After Tax: ₹739 crore (compared to ₹945 crore in FY24-25)
  • EPS: ₹58.40 (compared to ₹73.95 in FY24-25)
  • Net Debt to Equity: 2.86x (increased from 1.72x in FY24-25)
  • Dividend Recommended: ₹10 per equity share (same as previous year)
  • Standalone net profit: ₹26,924 lakhs; Consolidated net profit: ₹73,876 lakhs
  • Total assets: ₹16,48,776 lakhs; Total borrowings: ₹5,68,838 lakhs

Business Segment Performance

Industrial Chemicals

  • IPA sales: 63 KT with 38% premium-grade IPA (4% YoY growth in premium-grade)
  • Nitric Acid production: 849 KT WNA
  • Merchant sales of Nitric Acid products: 316 KT (10% YoY growth)

Mining Chemicals (Deepak Mining Solutions Limited)

  • TAN sales volume: 577 KT (11% YoY growth, highest-ever)
  • Total Cost of Ownership (TCO) model contribution increased 37% YoY
  • Issued Compulsorily Convertible Debentures (CCDs) aggregating ₹80,000 lakhs with 12.5% XIRR

Crop Nutrition Business (Mahadhan AgriTech Limited)

  • Croptek sales: 248 KT (25% YoY growth from 198 KT)
  • Croptek user base: 1 million farmers covering 6 lakh hectares
  • Smartek cumulative sales: over 2.7 MMT since launch

Major Projects Update

Dahej Nitric Acid Expansion (Brownfield)

  • Capacity: 300 KTPA WNA + 150 KTPA CNA
  • Progress: 86% complete, commissioning expected H2 FY26-27
  • Investment: ₹1,983 crore
  • Post-commissioning will make DFPCL Asia's largest nitric acid producer

Gopalpur TAN Project (Greenfield)

  • Capacity: 376 KTPA
  • Progress: 95% complete, commissioning expected H2 FY26-27
  • Investment: ₹2,675 crore
  • Will increase group TAN capacity to ~1 MMTPA, catering to 60% of India's domestic demand

Strategic Initiatives & Acquisitions

  • Chardham Chemicals Acquisition: Entry into explosives business, completed 6th May 2026
  • Platinum Blasting Services: Increased ownership from 85% to 100% for ~AUD 10.7 million (₹62.80 crore)
  • Long-term LNG agreement with Equinor (Norway) for annual supplies up to 0.65 million tonnes for 15 years

Employee Benefits Disclosure

  • Defined benefit plans: Gratuity obligation of ₹15,486 lakhs and post-retirement benefits of ₹1,032 lakhs
  • Defined contribution plans: Total contributions of ₹2,707 lakhs to provident fund, pension scheme, and superannuation
  • Discount rate assumed: 7.20% p.a.; Future salary increases: 9% p.a.

Financial Position Details

  • Trade payables: ₹215,754 lakhs with ₹125,364 lakhs under supplier finance arrangements
  • MSME dues: ₹7,058 lakhs outstanding
  • Net deferred tax assets: ₹31,952 lakhs
  • Capital work-in-progress: ₹3,04,636 lakhs (mainly TAN plant at Gopalpur and Nitric Acid expansion at Dahej)

Corporate Governance & Compliance

  • 46th AGM Date: 1st September 2026 through VC/OAVM
  • Board Changes: Dr. Purvi Mehta Bhatt appointed as Independent Woman Director; Mr. Yeshil Sailesh Mehta appointed as Non-Executive Director
  • Auditor Re-appointment: Recommendation to re-appoint M/s. P G BHAGWAT LLP as Statutory Auditors
  • CSR expenditure: ₹782 lakhs with required spending of ₹746 lakhs

Risk Management

  • Credit Risk: Trade receivables impairment allowance of ₹6,531 lakhs
  • Liquidity Risk: Undiscounted financial liabilities payable within 1 year: ₹46,202 lakhs
  • Market Risk: Exposure to USD, EUR, ZAR fluctuations; sensitivity of ₹402 lakhs for 50bps rate change
  • Commodity price risk: Hedging through option contracts for Propylene, Natural Gas, Ammonia

Forward Outlook

  • Industrial Chemicals: Guardedly positive outlook despite raw material volatility
  • Mining Chemicals: Growth momentum expected to continue supported by government infrastructure thrust
  • Crop Nutrition: Cautiously optimistic despite possible below-normal monsoon conditions
  • Project Commissioning: Both major projects expected to commission in H2 FY26-27