Performance Overview

Deepak Nitrite Limited delivered its highest-ever quarterly and first-half performance in Q2 and H1 FY27, setting new benchmarks in revenue and profitability. The performance was achieved against a sharply volatile global operating environment marked by geopolitical tensions, disrupted trade flows, feedstock constraints and elevated logistics costs.

Financial Highlights (Consolidated)

Q2 FY27 Performance:

  • Revenue: ₹3,091 crore, representing 61% YoY growth (from ₹1,922 crore in Q2 FY26)
  • EBITDA: ₹643 crore, representing 187% YoY growth (from ₹224 crore in Q2 FY26)
  • EBITDA Margin: 21% (compared to 12% in Q2 FY26)
  • PAT: ₹398 crore, representing 235% YoY growth (from ₹119 crore in Q2 FY26)
  • PAT Margin: 13% (compared to 6% in Q2 FY26)
  • EPS (Basic & Diluted): ₹29.16 (compared to ₹8.71 in Q2 FY26)

H1 FY27 Performance:

  • Revenue: ₹5,682 crore, representing 48% YoY growth (from ₹3,836 crore in H1 FY26)
  • EBITDA: ₹1,197 crore, representing 173% YoY growth (from ₹438 crore in H1 FY26)
  • PAT: ₹743 crore, representing 222% YoY growth (from ₹231 crore in H1 FY26)
  • EPS (Basic & Diluted): ₹54.45 (compared to ₹16.94 in H1 FY26)

Expenditure Breakdown (Q2 FY27):

  • Raw Material consumption and change in inventory: ₹2,005 crore (46% YoY increase)
  • Employee benefits expense: ₹127 crore (28% YoY increase)
  • Power & fuel expenses: ₹152 crore (43% YoY increase)
  • Other expenses: ₹164 crore (42% YoY increase)
  • Finance Costs: ₹29 crore (267% YoY increase)
  • Depreciation and Amortization: ₹71 crore (34% YoY increase)

Segmental Performance

Advanced Intermediates Segment (Q2 FY27):

  • Revenue: ₹811 crore, representing 38% YoY growth
  • EBIT: ₹49 crore, representing 112% YoY growth
  • EBIT Margin: 6% (compared to 4% in Q2 FY26)
  • Segment profitability was impacted by aggressive global pricing, elevated raw material and energy costs, higher export freight and deferred demand across certain agrochemical applications

Phenolics Segment (Q2 FY27):

  • Revenue: ₹2,291 crore, representing 72% YoY growth
  • EBIT: ₹515 crore, representing 256% YoY growth
  • EBIT Margin: 22% (compared to 11% in Q2 FY26)
  • Achieved best-ever quarterly performance, benefiting from disruptions to imports, elevated international freight costs and tighter domestic product availability
  • H1 FY27 EBIT for Phenolics reached ₹933 crore, overtaking previous full-year peak EBIT of ₹867 crore (FY22) in just the first six months

Capacity Expansion Update

Integrated Polycarbonate (PC) Complex Project:

  • Deepak Group is building an integrated polycarbonate complex at Dahej – PC (Phase-I) on Trinseo technology using relocated Stade assets
  • The complex includes Cumene & Phenol (UOP Honeywell) and BPA (Olin) units
  • Project Status:
  • 65% of dismantling work completed
  • 27% of overall EPC work completed (for PC and OSBL plant)
  • Civil works commenced across all utilities
  • Tie-ups completed with partners for PC Assets, BPA Technology, Phenol and Cumene technology
  • Engineering and construction management partner tie-up complete
  • Arrangements in place for supply of HYCO and Nitrogen
  • Ordering of boiler, turbine, cooling tower, WTP, ETP, tank farm, PEB Buildings, Pumps completed
  • Loan Agreement signed with all lenders
  • Targeted towards indigenous Polycarbonate Resin production by close of FY2030

Management Commentary

Mr. Deepak C. Mehta (Chairman & Managing Director) commented that the company has transformed its supply chain into a strategic advantage, enabling reliability, cost leadership, and future-ready growth. He noted that geopolitical tensions, disruptions to established supply chains and growing emphasis on security of supply are reshaping global trade contours. The company maximized capacity utilization across all plants and leveraged its integrated manufacturing capabilities to navigate supply-chain challenges.

Corporate Overview

  • Deepak Nitrite Limited is one of the leading producers of chemical intermediates in India
  • 7 modern manufacturing facilities at 5 strategic locations
  • Products exported to 50+ countries across 6 continents
  • Largest Producer of Phenol, Acetone, IPA & Sodium Nitrite in India
  • Total Revenue (FY26): ₹7,947 Crore
  • ICRA AA Stable (Long-Term Rating) and ICRA A1+ (Short-Term Rating)
  • 6,100+ total workforce
  • 1,500+ customers

CSR Initiatives

  • Mobile Health Units served 100,102 beneficiaries in FY 2025–26
  • Over 750,000 lives impacted through Deepak Foundation CSR initiatives
  • Presence across 25 districts, 5 states, and 2,000+ villages
  • 75 capital assets created or acquired