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Deepak Fertilizers Subsidiary Completes Acquisition of Chardham Chemicals for Rs 121.45 Cr
Deepak Mining Solutions Limited (DMSL), a wholly-owned subsidiary of Deepak Fertilizers, has completed the 100% acquisition of Chardham Chemicals Private Limited (CCPL) for Rs 121.45 crores. CCPL is an explosives manufacturer that reported nil turnover for the last three financial years, indicating it may be a pre-operative or asset-heavy entity. The acquisition is strategically aimed at providing a full range of explosives to enhance mine productivity and support export growth, particularly to DMSL's Australian subsidiary. The transaction was settled via cash and concluded on May 6, 2026.
Key Highlights
Acquisition of 100% equity stake in Chardham Chemicals Private Limited for Rs 121.45 Crores.
Target entity is an explosives manufacturer incorporated in 2021 with nil turnover in FY23, FY24, and FY25.
Strategic intent to leverage CCPL's products for the Total Cost of Ownership (TCO) model in mining services.
Expansion of export capabilities to the company's 100% owned mining servicing subsidiary in Australia.
Transaction completed through wholly-owned subsidiary Deepak Mining Solutions Limited (DMSL).
👀 What to Watch
Investors should view this as a long-term strategic move to strengthen the mining solutions vertical, though the immediate impact on earnings may be limited given the target's current nil turnover. Monitor the timeline for operationalizing CCPL's assets and its contribution to export revenue.
Deepak Nitrite Subsidiary Partners with Praxair India for HyCO Plant to Support Polycarbonate Project
Deepak Chem Tech Limited (DCTL), a wholly-owned subsidiary of Deepak Nitrite, has signed a long-term agreement with Praxair India (a Linde company) to build a HyCO plant. This facility will supply essential raw materials for DCTL's upcoming Polycarbonate manufacturing plant in Dahej, Gujarat. Under the agreement, Praxair will build, own, and operate the facility, ensuring a reliable feedstock supply for the project. The plant is expected to be commissioned in 2028, aligning with the timeline for the Polycarbonate project's launch.
Key Highlights
Long-term agreement with Praxair India (Linde) for a dedicated on-site HyCO plant at Dahej.
Secures critical raw material supply for the upcoming Polycarbonate manufacturing facility.
Facility to be built, owned, and operated by Praxair India, enhancing operational efficiency.
Commissioning of the HyCO plant is scheduled for 2028, matching the Polycarbonate plant's timeline.
Targets high-growth domestic segments including automotive, electronics, and construction.
👀 What to Watch
Investors should view this as a strategic de-risking move that secures the supply chain for a major growth project. Monitor the capital expenditure and execution progress of the Polycarbonate facility leading up to 2028.
Deepak Nitrite Subsidiary DCTL Raises ₹150 Cr from Deepak Phenolics via OCRPS
Deepak Nitrite's wholly-owned subsidiary, Deepak Chem Tech Limited (DCTL), has raised ₹150 Crores through the allotment of 1.5 crore 9% Optionally Convertible Redeemable Preference Shares (OCRPS). The funds were provided by Deepak Phenolics Limited (DPL), another wholly-owned subsidiary, representing an internal capital reallocation within the group. This infusion is designed to strengthen DCTL's capital base and support its ongoing project expenses in specialized segments like Fluorination and Nitration. DCTL is currently in a scaling phase, with turnover growing from ₹0.86 Crores in FY24 to ₹9.43 Crores in FY25.
Key Highlights
Allotment of 1,50,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at ₹100 each.
Total capital infusion of ₹150 Crores sourced internally from Deepak Phenolics Limited.
Funds targeted for project expenses and strengthening the capital base of DCTL's chemical operations.
DCTL's turnover showed significant growth to ₹9.43 Crores in FY 2024-25 from ₹0.86 Crores in FY 2023-24.
Post-allotment, Deepak Nitrite continues to maintain 100% effective control over DCTL.
👀 What to Watch
Investors should view this as a routine internal capital allocation to support the growth of a nascent subsidiary; focus should remain on the execution of DCTL's Fluorination and Nitration projects.
ICRA Reaffirms DEEPAKFERT Ratings at AA-; Outlook Revised to Watch on Gas Supply Risks
ICRA has reaffirmed Deepak Fertilizers' long-term rating at [ICRA]AA- but shifted the outlook from 'Positive' to 'Watch with Developing Implications' due to geopolitical tensions in West Asia disrupting gas supplies. The company is currently executing a massive Rs. 4,700 crore capex for TAN and Nitric Acid plants, with Rs. 2,936 crore already invested as of December 2025. While near-term profitability faces pressure from volatile ammonia and gas prices, the commencement of the Equinor gas contract in May 2026 is expected to stabilize supply and improve margins from FY2027 onwards.
Key Highlights
Long-term rating reaffirmed at [ICRA]AA-; outlook revised to 'Watch with Developing Implications' from 'Positive'.
Executing Rs. 4,700 crore debt-funded capex for TAN (Gopalpur) and Nitric Acid (Dahej) projects, with Rs. 2,936 crore spent by Dec 2025.
Equinor gas contract starting May 2026 is expected to meet entire gas requirements and provide surplus for trading.
West Asia conflict cited as a primary risk factor for ammonia production and input cost volatility in the near term.
ITAT ruled in favor of subsidiary MAL regarding a significant Rs. 580.82 crore income tax demand, reducing legal overhang.
👀 What to Watch
Investors should monitor the timely commissioning of the Gopalpur and Dahej projects by Q1 FY2027 and the successful commencement of the Equinor gas contract in May 2026. While the 'Watch' status indicates near-term geopolitical risks, the company's strong market position in TAN and Nitric Acid remains a long-term positive.
Deepak Nitrite Infuses ₹135 Cr into Subsidiary Deepak Chem Tech for Project Expansion
Deepak Nitrite (DNL) and its subsidiary Deepak Phenolics (DPL) have collectively invested ₹135 Crores into Deepak Chem Tech Limited (DCTL). The investment was made through the allotment of 1.35 crore 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at ₹100 each. These funds are intended to strengthen DCTL's capital base and support its ongoing projects in Fluorination, Nitric Acid, and Nitration. DCTL is a growing subsidiary, with its turnover increasing from ₹0.86 Crores in FY24 to ₹9.43 Crores in FY25.
Key Highlights
Total capital infusion of ₹135 Crores into wholly-owned subsidiary Deepak Chem Tech Limited.
Issuance of 1.10 crore OCRPS to Deepak Phenolics and 25 lakh OCRPS to Deepak Nitrite at ₹100 par value.
Funds will support project expenses for Fluorination, Nitric Acid, Nitration, and Hydrogenation plants.
DCTL's turnover showed significant growth, reaching ₹9.43 Crores in FY 2024-25.
The 9% OCRPS are designed to provide flexible capital structure for the subsidiary's expansion in Gujarat.
👀 What to Watch
Investors should monitor the commissioning of DCTL's specialized chemical plants as they represent a key growth vertical for the group. The internal funding demonstrates the parent company's strong cash position and commitment to high-margin chemical segments.
Deepak Fertilizers Novates 15-Year LNG Supply Agreement for 0.65 MTPA to Subsidiary
Deepak Fertilizers has transferred its long-term LNG supply agreement with Equinor ASA to its Singapore-based wholly-owned subsidiary, Deepak Globalchem PTE. LTD (DGPL). The arrangement secures an annual supply of up to 0.65 million tonnes of LNG for a 15-year period starting in 2026. While the subsidiary assumes the buyer's obligations, the parent company will provide corporate guarantee support. This move likely streamlines international procurement operations without changing the original commercial terms.
Key Highlights
Novation of LNG Sale and Purchase Agreement (SPA) from parent to subsidiary DGPL
Secures annual supply of up to 0.65 million tonnes of LNG
Agreement duration is 15 years, commencing from the year 2026
Maintains identical commercial terms as the original February 2024 agreement
Deepak Fertilizers to provide corporate guarantee support for the subsidiary
👀 What to Watch
This is a procedural transfer of an existing contract to a subsidiary and does not alter the company's fundamental outlook. Investors should continue to monitor the company's feedstock cost management as these supplies begin in 2026.
Deepak Fertilizers to Invest ₹5 Crore for 26% Stake in First Energy 11 for Captive Hybrid Power
Deepak Fertilizers has entered into a Share Subscription and Shareholders Agreement to invest ₹5 crore in First Energy 11 Private Limited. This investment will secure a minimum 26% equity stake (along with other captive users) to facilitate Wind-Solar Hybrid power for captive consumption. The move is designed to achieve long-term cost efficiencies in power procurement while significantly advancing the company's sustainability and carbon reduction goals. The transaction is conducted at arm's length and is not a related party transaction.
Key Highlights
Investment of ₹5,00,00,000 (₹5 Crore) for equity subscription in First Energy 11 Private Limited.
Acquisition of at least 26% stake to qualify for captive power consumption under the Electricity Act, 2003.
Agreement enables long-term access to renewable Wind-Solar Hybrid power.
Strategic focus on reducing operational costs and improving the company's ESG profile.
👀 What to Watch
Investors should view this as a positive move towards operational efficiency and ESG compliance. While the investment amount is small, the long-term impact on power cost stability is beneficial for margins.
Deepak Nitrite Subsidiary DPL Invests ₹100 Crore in Deepak Chem Tech via OCRPS
Deepak Nitrite's wholly-owned subsidiary, Deepak Phenolics Limited (DPL), has invested ₹100 Crores into another subsidiary, Deepak Chem Tech Limited (DCTL). The investment was executed through the allotment of 1 crore 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at par value. This capital infusion is designed to strengthen DCTL's capital base and fund ongoing project expenses. DCTL is currently scaling its fluorination plant operations and pursuing multiple projects across Gujarat.
Key Highlights
Deepak Phenolics Limited invested ₹100 Crores in Deepak Chem Tech Limited via 9% OCRPS.
DCTL's turnover increased significantly from ₹0.86 Crores in FY24 to ₹9.43 Crores in FY25.
The funds are earmarked for project expenses and general corporate purposes within the fluorination segment.
Deepak Nitrite continues to maintain 100% indirect control over DCTL's preference share capital.
DCTL operates a state-of-the-art fluorination plant and is expanding its footprint in Gujarat.
👀 What to Watch
This is an internal capital reallocation to support the high-growth fluorination business; investors should track DCTL's project execution as it scales from a low revenue base. No immediate impact on consolidated financials is expected, but it signals long-term expansion in specialized chemicals.
Deepak Nitrite Q3 FY26: EBITDA Grows 16% to ₹219 Cr Amid Volume-Led Growth
Deepak Nitrite reported a steady Q3 FY26 with consolidated revenue rising 3% YoY to ₹1,983 crore, driven by higher volumes despite global pricing pressures. EBITDA increased 16% YoY to ₹219 crore, with margins improving to 11% due to operational efficiencies and vertical integration. While the Phenolics segment saw a 20% YoY EBIT growth, the Advanced Intermediates segment faced margin compression from aggressive Chinese competition. The company is nearing the commissioning of its MIBK/MIBC project and is progressing on its transformational polycarbonate plant.
Key Highlights
Consolidated Q3 revenue reached ₹1,983 crore, up 3% YoY, with EBITDA rising 16% to ₹219 crore.
Phenolics segment EBIT grew 20% YoY to ₹145 crore, while Advanced Intermediates revenue rose 18% to ₹652 crore.
Commissioned new nitric acid and nitration plants, completing vertical integration for the ammonia-to-amines value chain.
MIBK/MIBC project targeted for commissioning in Q4 FY26; Polycarbonate project funding is in final stages.
Maintained a strong balance sheet with a net worth of ₹5,651 crore and a consolidated ROCE of 15%.
👀 What to Watch
Investors should focus on the successful ramp-up of newly commissioned capacities and the upcoming MIBK/MIBC project which are expected to improve margins. The company's strategy of vertical integration and import substitution makes it a resilient long-term play in the specialty chemicals space.
Deepak Nitrite Q3 FY26: EBITDA Grows 16% YoY to ₹219 Cr; US Removes 45% Sodium Nitrite Duty
Deepak Nitrite reported a resilient Q3 FY26 with consolidated revenue of ₹1,983 crore, a 3% YoY increase, and EBITDA growth of 16% YoY to ₹219 crore. The Phenolics segment drove profitability with a 20% YoY EBIT increase to ₹145 crore, while Advanced Intermediates faced pricing pressure from Chinese dumping despite 18% revenue growth. A significant regulatory tailwind emerged as the US removed a 45.16% Anti-Dumping Duty on the company's Sodium Nitrite exports. The company is also advancing its 165,000 MT Polycarbonate project and expects MIBK/MIBC commissioning in Q4 FY26.
Key Highlights
Q3 FY26 Revenue rose 3% YoY to ₹1,983 crore, while EBITDA increased 16% YoY to ₹219 crore.
US Department of Commerce removed 45.16% Anti-Dumping Duty on Sodium Nitrite exports effective January 2026.
Phenolics segment EBIT grew 20% YoY to ₹145 crore supported by higher volumes and operating efficiencies.
Completed vertical integration across the ammonia-nitration-amines chain with new Nitric Acid plant commissioning.
MIBK/MIBC project targeted for Q4 FY26 commissioning; Polycarbonate plant relocation from Germany is on schedule.
👀 What to Watch
Investors should focus on the margin expansion potential from the newly commissioned backward integration plants and the removal of US export duties. While Chinese competition remains a headwind, the company's shift toward high-value specialty materials like Polycarbonate offers long-term growth prospects.
Deepak Nitrite Q3 Results: Consolidated PAT flat at ₹100 Cr; Revenue up 4% YoY
Deepak Nitrite reported a marginal 3.7% YoY growth in consolidated revenue to ₹1,975 Cr for Q3 FY26, while consolidated net profit remained nearly flat at ₹100 Cr. The standalone business saw strong revenue growth of 25.7% YoY but suffered a significant profit decline due to an exceptional provision of ₹10.51 Cr for new labor codes and higher material costs. The Phenolics segment, a major contributor, saw a slight revenue dip but maintained steady segment results. Overall 9-month performance remains under pressure with a 33% decline in consolidated net profit compared to the previous year.
Key Highlights
Consolidated Revenue from operations grew 3.7% YoY to ₹1,974.97 Cr from ₹1,903.40 Cr.
Consolidated Net Profit stood at ₹99.82 Cr, up marginally from ₹98.13 Cr in the same quarter last year.
Exceptional item of ₹12.84 Cr (Consolidated) recognized due to the implementation of New Labour Codes.
Advanced Intermediates segment revenue increased to ₹652.45 Cr from ₹551.69 Cr YoY.
9-month consolidated PAT fell to ₹330.83 Cr from ₹494.85 Cr in the prior year period.
👀 What to Watch
The results show a stabilization in quarterly performance, but long-term growth remains muted compared to last year. Investors should monitor the recovery in the Phenolics segment and the impact of raw material price volatility on margins.
Deepak Nitrite Q3 FY26 Consolidated Net Profit Rises 21% YoY to ₹118.75 Crore
Deepak Nitrite reported a steady performance for Q3 FY26, with consolidated revenue growing 3.8% YoY to ₹1,974.97 crore. Consolidated net profit increased significantly by 21% YoY to ₹118.75 crore, despite an exceptional charge of ₹12.84 crore related to the New Labour Codes. The Phenolics segment remains the primary driver, contributing ₹1,333.79 crore to revenue and ₹145.32 crore to segment results. Advanced Intermediates showed revenue growth but lower margins compared to the previous quarter.
Key Highlights
Consolidated Net Profit grew 21% YoY to ₹118.75 Cr, overcoming an exceptional cost of ₹12.84 Cr.
Total Consolidated Revenue reached ₹1,974.97 Cr, up from ₹1,903.40 Cr in the same quarter last year.
Phenolics segment EBIT stood strong at ₹145.32 Cr on revenue of ₹1,333.79 Cr.
Advanced Intermediates segment revenue grew to ₹652.45 Cr, though segment results dipped to ₹14.94 Cr.
Company recognized an exceptional item of ₹12.84 Cr due to the implementation of New Labour Codes.
👀 What to Watch
Investors should monitor the sustained performance of the Phenolics division and the margin recovery in Advanced Intermediates. The stock remains a solid play in the specialty chemicals space given the healthy year-on-year profit growth.
Deepak Fertilisers Q3 FY26: Revenue Up 10% to ₹2,830 Cr, PAT Drops 34% Amid Cost Pressures
Deepak Fertilisers reported a 10% Y-o-Y revenue growth to ₹2,830 crores for Q3 FY26, though adjusted PAT declined 34% to ₹141 crores due to higher raw material costs and unseasonal rains impacting mining and farming. The Crop Nutrition segment showed resilience with 26% revenue growth, while Mining Chemicals volumes remained flat. Management highlighted that major capex projects in Gopalpur and Dahej are nearing completion (91% and 79% respectively), with commissioning expected in Q1 FY27 to drive future margins.
Key Highlights
Consolidated Q3 revenue rose 10% Y-o-Y to ₹2,830 crores, while YTD revenue reached ₹8,495 crores.
EBITDA for the quarter fell 27% Y-o-Y to ₹353 crores, pressured by high ammonia prices and weak IPA realizations.
Gopalpur TAN project is 91% complete and Dahej acid project is 79% complete, both slated for Q1 FY27 commissioning.
Specialty fertilizers and Croptek now contribute 30% of Crop Nutrition revenue, up from previous quarters.
Net debt-to-EBITDA stands at 2.27x with total net debt at ₹4,021 crores as the company nears the end of its capex cycle.
👀 What to Watch
Investors should focus on the upcoming commissioning of the Gopalpur and Dahej projects in Q1 FY27, which are expected to be significant margin catalysts. While current earnings are impacted by raw material volatility, the shift toward specialty products and long-term LNG contracts provides a positive medium-term outlook.
Deepak Fertilizers Shareholders Approve Appointment of Four Independent Directors
Shareholders of Deepak Fertilizers have overwhelmingly approved the appointment and re-appointment of four Independent Directors via a postal ballot process. Dr. Purvi Mehta Bhatt was appointed as an Independent Woman Director with 99.99% of votes in favor. Additionally, the re-appointments of Mr. Sanjay Gupta, Mr. Sitaram Kunte, and Mr. Terje Bakken were cleared with approval ratings exceeding 99%. This ensures continuity in the company's board leadership and maintains high standards of corporate governance.
Key Highlights
Appointment of Dr. Purvi Mehta Bhatt as Independent Woman Director approved with 99.9985% votes in favor.
Re-appointment of Mr. Sanjay Gupta as Independent Director secured 99.9741% shareholder support.
Mr. Sitaram Kunte and Mr. Terje Bakken re-appointed with 99.2857% and 99.9744% approval respectively.
Total valid votes cast for the resolutions reached approximately 81.61 million shares.
All resolutions were passed as Special Resolutions with the requisite majority on January 29, 2026.
👀 What to Watch
Investors should view the high approval rates as a positive sign of shareholder confidence in the company's leadership. No immediate portfolio changes are required as these are routine governance matters.
Deepak Fertilisers Q3 Revenue Rises 10% to ₹2,830 Cr; PAT Drops 44% on Margin Pressure
Deepak Fertilisers reported a mixed Q3 FY26 with revenue growing 10% YoY to ₹2,830 Cr, driven by the Crop Nutrition and Mining Chemicals segments. However, profitability was significantly impacted as EBITDA fell 27% YoY to ₹353 Cr and PAT dropped 44% to ₹141 Cr, primarily due to rising raw material costs like Ammonia and pricing pressure in Industrial Chemicals. The company is currently executing a large ₹4,650 Cr capex plan for TAN and Nitric Acid, with commissioning expected in Q1 FY27. While debt has increased to ₹4,429 Cr to fund expansion, the company maintains a strong market position in its core verticals.
Key Highlights
Q3 FY26 Revenue increased 10% YoY to ₹2,830 Cr, while YTD FY26 Revenue grew 12% to ₹8,495 Cr.
Operating EBITDA margins contracted sharply to 12% in Q3 FY26 from 19% in the previous year.
Industrial Chemicals revenue fell 20% YoY due to a significant drop in IPA prices and extended shutdowns for trials.
Crop Nutrition Business (CNB) revenue grew 26% YoY, supported by a 13% volume growth in ANP and Smartek products.
Net Debt increased to ₹4,020 Cr as of Dec 2025 to support ongoing strategic capex of ₹4,650 Cr.
👀 What to Watch
Investors should remain cautious due to significant margin contraction caused by rising Ammonia prices and weak IPA realizations. Long-term value depends on the successful commissioning of the Gopalpur TAN and Dahej Nitric Acid projects in early FY27.
Deepak Fertilisers Q3 Net Profit Drops 84% YoY; Board Approves Closure of 300 TPD Methanol Plant
Deepak Fertilisers reported a sharp decline in standalone net profit for Q3 FY26, falling to ₹10.78 crore from ₹66.92 crore in the same period last year. Revenue from operations also saw a significant contraction, dropping 22.7% YoY to ₹401.18 crore. In a strategic move, the board approved the permanent closure and dismantling of its 300 TPD Methanol Plant, which has been idle since August 2021. This rationalization is intended to free up land for more efficient brownfield projects and improve the company's environmental sustainability profile.
Key Highlights
Standalone Net Profit plummeted 83.9% YoY to ₹10.78 crore in Q3 FY26.
Revenue from operations declined to ₹401.18 crore compared to ₹519.05 crore in Q3 FY25.
Board approved dismantling of the 300 TPD Methanol Plant to free up land for future growth projects.
Standalone EPS for the quarter fell to ₹0.85 from ₹5.30 in the previous year's corresponding quarter.
Major subsidiaries reported a combined net loss of ₹26.73 crore for the nine-month period ending December 2025.
👀 What to Watch
Investors should exercise caution as the company faces significant pressure on both top-line and bottom-line growth. The stock may face short-term headwinds, and focus should remain on management's plans for the newly available land and recovery in subsidiary performance.
Deepak Fertilizers Q3 Net Profit Slumps 84% YoY to ₹10.78 Cr; To Dismantle Methanol Plant
Deepak Fertilizers reported a weak set of numbers for Q3 FY26, with standalone net profit crashing 83.9% YoY to ₹10.78 crore. Revenue from operations declined by 22.7% YoY to ₹401.18 crore, reflecting significant margin pressure. On a consolidated basis for the nine-month period, the company reported a net loss of ₹26.73 crore. Additionally, the board approved the permanent closure and dismantling of its 300 TPD Methanol Plant, which has been non-operational since 2021, to free up land for potential brownfield expansion.
Key Highlights
Standalone Net Profit for Q3 FY26 fell 83.9% YoY to ₹10.78 crore from ₹66.92 crore.
Standalone Revenue from operations decreased 22.7% YoY to ₹401.18 crore.
Consolidated 9M FY26 performance resulted in a net loss of ₹26.73 crore on revenues of ₹6,801.11 crore.
Standalone EPS dropped significantly to ₹0.85 in Q3 FY26 from ₹5.30 in Q3 FY25.
Board approved dismantling of the 300 TPD Methanol Plant at K1 Unit to repurpose land for future growth projects.
👀 What to Watch
Investors should exercise caution as the sharp decline in profitability and consolidated losses indicate operational headwinds. The stock may face downward pressure in the short term, and recovery will depend on the execution of new projects on the freed-up land.
Deepak Nitrite Subsidiary DPL Invests ₹80 Crore in Deepak Chem Tech via Preference Shares
Deepak Phenolics Limited (DPL), a wholly owned subsidiary of Deepak Nitrite, has invested ₹80 Crores into another subsidiary, Deepak Chem Tech Limited (DCTL). The investment was executed through the allotment of 80,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at ₹100 each. This internal capital infusion is designed to strengthen DCTL's capital base and fund its ongoing project expenses, particularly for its Fluorination plant. DCTL is showing early growth signs, with turnover rising from ₹0.86 Crores in FY24 to ₹9.43 Crores in FY25.
Key Highlights
Allotment of 80,00,000 9% OCRPS at par, aggregating to ₹80 Crores
DCTL turnover grew significantly to ₹9.43 Crores in FY 2024-25 from ₹0.86 Crores in FY 2023-24
Funds earmarked for DCTL's state-of-the-art Fluorination plant and other Gujarat-based projects
Deepak Nitrite maintains 100% control over both subsidiaries involved in the transaction
DCTL's total paid-up capital prior to this allotment stood at ₹1,919.50 Crores
👀 What to Watch
This is an internal capital reallocation to support the company's expansion into specialized chemical segments like Fluorination. Investors should view this as a commitment to long-term growth in high-margin verticals, though it has no immediate impact on consolidated financials.
Deepak Nitrite Subsidiary Commissions Nitration & Hydrogenation Plant for ₹85 Crores
Deepak Nitrite's wholly-owned subsidiary, Deepak Chem Tech Limited, has successfully commissioned its Nitration and 2nd Hydrogenation Plant at Dahej, Gujarat. The project involved a total capital expenditure of approximately ₹85 Crores as of the commissioning date on January 19, 2026. This expansion is expected to enhance the company's chemical processing capabilities and downstream integration. The timely commissioning of this facility reflects the company's focus on scaling its specialty chemicals portfolio.
Key Highlights
Commissioning of Nitration and 2nd Hydrogenation Plant at Dahej, Dist. Bharuch, Gujarat.
Total capital expenditure incurred for the project is approximately ₹85 Crores.
The facility is operated by Deepak Chem Tech Limited, a material wholly-owned subsidiary.
The plant was officially commissioned on January 19, 2026.
👀 What to Watch
Investors should view this as a positive step towards capacity expansion and monitor the subsequent impact on revenue growth in the specialty chemicals segment. No immediate action is required, but the development strengthens the long-term growth thesis.
Deepak Fertilisers Receives Revised Tax Demand Order of ₹95.61 Crore
Deepak Fertilisers and Petrochemicals Corporation Limited has received a revised order from the Joint Commissioner of State Tax (Appeals), Pune. The total demand is now ₹95.61 crores, which includes a tax component of ₹34.38 crores, interest of ₹56.28 crores, and a penalty of ₹4.94 crores. The order follows an appeal that successfully reduced the original tax demand from ₹40.44 crores and the penalty from ₹5.62 crores. The company maintains that the demand is not tenable and intends to challenge the order at a higher forum.
Key Highlights
Total revised demand stands at ₹95.61 crores including tax, interest, and penalty.
Tax demand reduced from ₹40.44 crores to ₹34.38 crores following the first appeal.
Interest and penalty components were reduced to ₹56.28 crores and ₹4.94 crores respectively.
The dispute relates to Input Tax Credit (ITC) disallowance due to non-reflection in GSTR2A.
Company plans to challenge the order at an appropriate forum and claims no material financial impact.
👀 What to Watch
Investors should monitor the outcome of the next level of appeal as the total demand of ₹95.61 crore is significant, though the company is currently contesting it.
