On October 28, Deepak Nitrite announced that its subsidiary, Deepak Phenolics Limited, has received board approval to finalize agreements with Petronet LNG Ltd for sourcing 250 KTPA of propylene and 11 KTPA of hydrogen from Petronet’s petrochemical facility in Dahej, Gujarat. The agreement, set for a 15-year period from the first supply date, will support Deepak Phenolics’ operations with essential raw materials.
Deepak Nitrite is scheduled to report its September quarter results on November 13, 2024. In its June quarter performance, the company recorded a 35.1% year-on-year increase in net profit, reaching ₹202.5 crore, up from ₹150 crore in the same quarter last year.
Revenue from operations grew by 22.5%, reaching ₹2,166.8 crore compared to ₹1,768.3 crore in the previous fiscal period. The company’s EBITDA rose 47.4% to ₹309.2 crore, with an EBITDA margin improvement from 11.9% to 14.35%, driven by gains in operating efficiency.
Deepak Nitrite Limited is one of India’s leading chemical manufacturing companies, known for its extensive portfolio of high-performance chemicals used across diverse industries such as pharmaceuticals, agrochemicals, rubber, paper, textiles, and petrochemicals.
Headquartered in Vadodara, Gujarat, the company has built a reputation for quality and innovation, specializing in products like sodium nitrite, sodium nitrate, fuel additives, and performance chemicals. With a strong focus on sustainability and operational efficiency, the company is committed to responsible manufacturing practices and minimizing its environmental footprint.
Deepak Nitrite’s robust research and development capabilities allow it to continuously expand and improve its product offerings, catering to both domestic and international markets. As a key player in India’s chemical sector, the company plays a vital role in supporting downstream industries with essential raw materials, contributing significantly to India’s industrial growth and self-sufficiency. Through strategic expansion and a customer-centric approach, Deepak Nitrite continues to reinforce its position as a trusted leader in the global chemical industry.
