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DEEPAKFERT - Deepak Fertiliz.

📊 NSE: DEEPAKFERT 🏢 Chemicals 📅 Last Updated: 12/13/2025 21:27

📢 Recent Corporate Announcements

Deepak Fertilizers Receives ₹26.75 Lakh GST Demand Order

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 12 Mar 2026, 11:26 AM

Deepak Fertilizers and Petrochemicals Corporation Limited has received a demand order from the CGST authority in Bharuch, Gujarat. The total demand amounts to ₹26,75,620, which includes a tax component of ₹13,37,810 and an equal penalty of ₹13,37,810. The dispute arises from the disallowance of Input Tax Credit (ITC) by the department. The company has stated that the demand is not tenable and intends to challenge the order, noting no material impact on its financial or operational activities.

Total demand of ₹26,75,620 raised by Superintendent, CGST & C. Ex., Bharuch.
Demand consists of ₹13,37,810 in tax and ₹13,37,810 in penalty.
The order pertains to the disallowance of Input Tax Credit claimed by the company.
Management confirms there is no material impact on the company's financials or operations.
The company plans to file an appeal against the order at an appropriate forum.

💡 No action is required as the demand amount is immaterial compared to the company's scale of operations. Investors should treat this as a routine regulatory dispute.

Deepak Fertilizers to Participate in IIFL Global Investors' Conference on February 25

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Feb 2026, 05:45 PM

Deepak Fertilizers and Petrochemicals Corporation Limited (DEEPAKFERT) has scheduled an interaction with institutional investors. The company will participate in IIFL's 17th Enterprising India Global Investors' Conference on February 25, 2026. This is a physical meeting scheduled to take place in Mumbai. The company has explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be shared during the event.

Participation in IIFL's 17th Enterprising India Global Investors' Conference
Event date set for February 25, 2026, in Mumbai
Physical meeting format for interaction with analysts and institutional investors
Compliance disclosure under Regulation 30 of SEBI LODR Regulations
Confirmation that no UPSI will be disclosed during the conference

💡 No immediate action is required as this is a routine investor outreach event. Investors should monitor the company's website or exchange filings for any investor presentations released following the conference.

Deepak Fertilisers Q3 FY26: Revenue Up 10% to ₹2,830 Cr, PAT Drops 34% Amid Cost Pressures

🔵 WATCH ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 05:14 PM

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.

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.

💡 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 Subsidiary Receives ₹3.46 Crore Income Tax Demand

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 02 Feb 2026, 06:41 PM

Deepak Mining Solutions Limited (DMSL), a material subsidiary of Deepak Fertilizers, has received a tax demand order of ₹3,45,75,555 for Assessment Year 2024-25. The demand stems from the disallowance of depreciation on intangible assets that were recorded following the demerger of the Technical Ammonium Nitrate (TAN) business. The company has stated that the Income-tax Appellate Tribunal has previously ruled in their favor on this specific issue in earlier years. Management believes the demand is not tenable and intends to challenge the order at the appropriate legal forum.

Tax demand of ₹3,45,75,555 issued under section 143(3) of the Income Tax Act, 1961.
Issue involves disallowance of depreciation on intangible assets post-TAN business demerger.
Company cites previous favorable rulings from the Income-tax Appellate Tribunal (ITAT) on the same matter.
Management confirms no material impact on the financial or operational activities of the company.
DMSL will be filing an appeal to set aside the demand order.

💡 Investors should note that the tax demand is relatively small compared to the company's scale and is likely to be contested successfully based on past legal precedents. No immediate portfolio action is required.

Deepak Fertilizers Shareholders Approve Appointment of Four Independent Directors

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 31 Jan 2026, 06:06 PM

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.

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.

💡 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 Fertilizers Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jan 2026, 11:26 PM

Deepak Fertilizers and Petrochemicals Corporation Limited has released the audio recording of its earnings conference call held on January 30, 2026. The call focused on the company's financial performance for the third quarter and the nine-month period ending December 31, 2025. This disclosure is a mandatory regulatory requirement under SEBI (LODR) Regulations, 2015. Investors can access the recording via the company's website to understand management's commentary on business operations and future guidance.

Audio recording of the Q3 FY26 earnings call is now available for public access via the company website.
The call discussed financial results for the quarter and nine-month period ended December 31, 2025.
Submission made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording provides direct access to management's responses to analyst queries regarding the company's performance.

💡 Investors should listen to the recording to understand management's outlook on the chemical and fertilizer sectors. No immediate action is required as this is a procedural regulatory filing.

Deepak Fertilizers Independent Director Varsha Purandare Completes Tenure

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 30 Jan 2026, 04:45 PM

Deepak Fertilizers and Petrochemicals Corporation Limited has announced the cessation of Mrs. Varsha Vasant Purandare as a Non-Executive Independent Director. Her departure is effective from the close of business hours on January 30, 2026, following the completion of her second consecutive term of two years. As a result, she will also step down from her positions as chairman and member of various board committees. This is a routine administrative change in line with regulatory requirements for independent director tenures.

Mrs. Varsha Vasant Purandare (DIN: 05288076) ceased to be an Independent Director on January 30, 2026.
The cessation marks the completion of her second term of 2 consecutive years.
She will simultaneously vacate her roles as chairman and member of multiple board committees.
The announcement was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 This is a routine board rotation and does not affect the company's operations or financial health. No immediate action is required from investors.

Deepak Fertilisers Q3 Revenue Rises 10% to ₹2,830 Cr; PAT Drops 44% on Margin Pressure

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 06:34 PM

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.

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.

💡 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

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 03:18 PM

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.

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.

💡 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

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 03:14 PM

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.

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.

💡 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 Fertilizers Schedules Q3 FY26 Earnings Conference Call for January 30

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 21 Jan 2026, 05:00 PM

Deepak Fertilizers and Petrochemicals Corporation Limited (DEEPAKFERT) has scheduled its earnings conference call for Friday, January 30, 2026, at 4:00 PM IST. The management will discuss the unaudited financial results for the third quarter and nine months ended December 31, 2025. Key leadership, including the Chairman and Managing Director Mr. S C Mehta and the CFO Mr. Subhash Anand, will be present to provide insights into business strategy and outlook. This call is a routine regulatory requirement following the announcement of quarterly results.

Conference call scheduled for January 30, 2026, at 4:00 PM IST.
Focus on unaudited financial results for Q3 and 9M ended December 31, 2025.
Management participants include CMD S C Mehta, CFO Subhash Anand, and TAN President Tarun Sinha.
Call will cover business strategy and future outlook post-result declaration.
Universal dial-in numbers provided: +91 22 6280 1259 and +91 22 7115 8160.

💡 Investors should monitor the Q3 results release on or before January 30 and participate in the call to understand the performance of the Technical Ammonium Nitrate (TAN) and fertilizer segments.

Deepak Fertilisers Receives Revised Tax Demand Order of ₹95.61 Crore

🔵 WATCH ⭐ 6/10

LEGAL 📅 14 Jan 2026, 10:04 PM

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.

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.

💡 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.

Deepak Fertilisers Receives Tax Appeal Order Reducing Total Demand to ₹95.61 Crore

🟡 NEUTRAL ⭐ 5/10

LEGAL 📅 14 Jan 2026, 02:25 PM

Deepak Fertilizers has received an order from the Joint Commissioner of State Tax (Appeals), Pune, which reduced a previous tax demand to a total of ₹95.61 crore. The revised demand consists of ₹34.38 crore in tax, ₹56.28 crore in interest, and ₹4.94 crore in penalties. The dispute stems from the disallowance of Input Tax Credit (ITC) due to non-reflection in GSTR2A. The company intends to challenge this order at a higher forum, maintaining that the demand is not tenable and will not have a material impact on current operations.

Total tax demand reduced to ₹95,60,58,493 following a first appeal order.
Tax component specifically reduced from ₹40.44 crore to ₹34.38 crore.
Interest and penalty components stand at ₹56.28 crore and ₹4.94 crore respectively.
The dispute relates to disallowed Input Tax Credit (ITC) and GSTR2A discrepancies.
Company to challenge the order at an appropriate forum, citing the demand as untenable.

💡 Investors should monitor the progress of the appeal as the interest component is significant, though management expects no material financial impact. No immediate action is required as this is part of ongoing tax litigation.

Deepak Fertilisers Wins Income Tax Appeal for ₹215 Crore Disputed Income

🟢 POSITIVE ⭐ 7/10

LEGAL 📅 09 Jan 2026, 12:27 PM

Deepak Fertilisers has received a favorable ruling from the Commissioner of Income Tax (Appeals), Mumbai, regarding long-standing tax disputes. The appeals cover Assessment Years 2013-14 to 2018-19, involving a total disputed taxable income of ₹215 Crores. The company had previously contested these demand orders, and the current ruling validates the management's stance that the disallowances were legally defendable. This resolution significantly reduces potential tax liabilities and clears a major legal overhang for the company.

Commissioner of Income Tax (Appeals) allowed appeals for six assessment years from 2013-14 to 2018-19
The total disputed taxable income involved in the successful appeals is ₹215 Crores
The favorable order was officially received by the company on January 8, 2026
This resolution addresses tax issues previously disclosed in the 2021 financial statements

💡 Investors should view this as a positive development that strengthens the balance sheet by reducing contingent liabilities. No immediate action is required, but the removal of this legal uncertainty is a favorable tailwind for the stock.

Deepak Fertilizers Submits SEBI DP Regulation Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 12:28 PM

Deepak Fertilizers and Petrochemicals Corporation Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, covers the quarter ended December 31, 2025. It confirms that all share certificates received for dematerialization were processed, mutilated, and cancelled within the required 15-day period. This is a standard administrative filing ensuring the integrity of the company's share registry.

Compliance certificate issued for the quarter ended December 31, 2025.
Registrar and Share Transfer Agent, KFin Technologies, confirmed adherence to SEBI DP regulations.
Dematerialization requests were processed and confirmed within the mandatory 15-day window.
Physical certificates were mutilated and the depository's name was updated in the records.

💡 This is a routine regulatory filing with no impact on company fundamentals. No action is required from investors.

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💰 Financial Performance

Revenue Growth by Segment

In FY 2024-25, the Chemical Business (Industrial and Mining Chemicals) contributed 49.53% to total revenue, while the Fertilisers Business contributed 49.83%. For Q2 FY26, consolidated operating revenue grew 9% YoY to INR 3,006 Cr, and H1 FY26 revenue grew 13% YoY to INR 5,665 Cr.

Geographic Revenue Split

Not disclosed in available documents; however, the company operates manufacturing facilities in Maharashtra, Gujarat, Andhra Pradesh, and Haryana.

Profitability Margins

Net profit margin for FY 2024-25 improved by 381 basis points to 9.19%. Operating EBITDA margin for FY 2024-25 was 18.73%, an expansion of 390 bps from 14.83% in the previous year. Q2 FY26 EBITDA margins dropped to 15% from 18% YoY due to global geopolitical headwinds.

EBITDA Margin

Operating EBITDA for Q2 FY26 was INR 464 Cr, down 6% QoQ from INR 494 Cr. H1 FY26 EBITDA stood at INR 977 Cr, up 2% YoY. The margin for Q2 FY26 was 15%, reflecting a 300 bps decline YoY.

Capital Expenditure

Standalone purchase of property, plant, and equipment (including capital work-in-progress) was INR 870.03 Cr for the half-year ended September 30, 2025, compared to INR 555.80 Cr in the previous period.

Credit Rating & Borrowing

Finance costs for the standalone entity were INR 15.08 Cr for H1 FY26. The company issued compulsory convertible debentures worth INR 800 Cr during the period to strengthen the balance sheet.

⚙️ Operational Drivers

Raw Materials

Ammonia (critical for fertiliser and chemical production), Isopropyl Alcohol (IPA) feedstocks, and Technical Ammonium Nitrate (TAN) components. Ammonia represents a significant cost, with a planned shutdown in Q4 requiring imports to maintain business continuity.

Import Sources

Global markets for Ammonia imports; domestic sourcing from Gujarat, Maharashtra, Andhra Pradesh, and Haryana for other inputs.

Key Suppliers

Not specifically named in documents, though the company relies on third-party suppliers for Ammonia during plant shutdowns.

Capacity Expansion

New world-class production facility currently under development with full capacity realization expected by FY 2029. New projects are expected to deliver an asset turn of 0.5 to 0.6 and ROCE of 20% plus.

Raw Material Costs

Inventory turnover ratio increased due to an 18% rise in turnover and an 8% reduction in inventory, indicating improved procurement and stock management efficiency.

Manufacturing Efficiency

Capacity utilization metrics not specifically disclosed, but the company focuses on specialty products like Croptek and B2C TAN to drive higher-margin efficiency.

📈 Strategic Growth

Expected Growth Rate

11%

Growth Strategy

The company is shifting toward a specialty product portfolio and B2C segments. Specialty products (Croptek) now contribute 35% of fertiliser revenue, and B2C TAN contributes 14% of mining chemical revenue. Growth is supported by a new facility reaching capacity by FY 2029 and a focus on customer engagement and operational agility.

Products & Services

Industrial Chemicals, Pharma Chemicals (IPA), Mining Chemicals (Technical Ammonium Nitrate), Crop Nutrition (Specialty Fertilisers), and Value Added Real Estate.

Brand Portfolio

Croptek, Croptek+.

New Products/Services

Specialty product portfolio (Croptek) and B2C TAN products are the primary new growth drivers, currently contributing 35% and 14% to their respective segments.

Market Expansion

Expansion into B2C segments for TAN and specialty fertilisers to reach customers directly and capture higher margins.

Market Share & Ranking

One of India’s leading producers of industrial & mining chemicals and fertilisers.

🌍 External Factors

Industry Trends

The industry is shifting toward specialty and customized nutrient solutions to optimize use and minimize environmental impact. DFPCL is positioning itself through its 'Croptek' specialty line and B2C mining chemicals.

Competitive Landscape

Faces competitive pressures in bulk chemical trading and standard fertiliser segments; mitigating this by moving into B2C and specialty chemicals.

Competitive Moat

Moat is built on a 40-year legacy, diversified multi-product enterprise status, and a shift toward high-margin specialty products (35% of fertiliser revenue) which are harder for commodity players to replicate.

Macro Economic Sensitivity

Highly sensitive to global geopolitical trends and trade policies. Profit Before Tax rose 77% in FY 2024-25, showing high sensitivity to operational scale and market pricing.

Consumer Behavior

Farmers are increasingly adopting high-efficiency, customized nutrient solutions for higher yields, supporting the 35% revenue contribution from specialty fertilisers.

Geopolitical Risks

Significant risk from international trade tariffs (e.g., Trump's tariffs) which impact global supply chains and margin stability.

⚖️ Regulatory & Governance

Industry Regulations

Subject to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and governmental/regulatory trends affecting chemical and fertiliser pricing/distribution.

Environmental Compliance

Committed to sustainable agriculture and nutrient use optimization; specific ESG spend not disclosed.

Taxation Policy Impact

Standalone income tax paid (net) was INR 217.53 Cr for H1 FY26.

Legal Contingencies

Provision for doubtful other receivables of INR 2.00 Cr was made in H1 FY26. No specific high-value court cases disclosed in the provided text.

⚠️ Risk Analysis

Key Uncertainties

Geopolitical trade barriers (tariffs) and raw material price volatility (Ammonia) are the primary uncertainties, with potential to impact margins by 300-400 bps.