1. At a Glance
Deepak Nitrite (DNL) kicked off FY26 with mixed notes — revenue down 12.8% YoY at ₹1,890 crore, PAT down 44.6% YoY to ₹112 crore. Margins took a hit as the Phenolics segment stayed strong but Advanced Intermediates continued to face global demand softness. Management is still on a multi-year capex spree, betting ₹14,000+ crore on new capacity — including India’s first large-scale polycarbonate resins plant.
2. Introduction
Founded in 1970, Deepak Nitrite is one of India’s fastest-growing chemical intermediates producers with 32+ products across two big buckets:
- Phenolics – Phenol, Acetone, Cumene, IPA, AMS.
- Advanced Intermediates – Nitrites, Nitro Toluidines, Xylidines, Oximes, DASDA, OBAs.
It’s India’s largest phenol/acetone player (50%+ market share) and a global top-3 in several intermediates.
3. Business Mix – What They Actually Sell
Phenolics (70% of 9M FY25 revenue)
- 50%+ India market share in phenol & acetone.
- Used in laminates, pharma, adhesives, auto.
- FY25 saw 21% YoY growth in 9M, Q1 FY26 volumes stable.
Advanced Intermediates (30%)
- Largest sodium nitrite/nitrate producer in India.
- Top-3 globally in xylidines & oximes.
- 9M FY25 revenue fell 9% YoY due to destocking abroad.
Geography: 84% domestic, 16%
