Deepak Nitrite rises after Q4 PAT jumps 68% YoY to Rs 290 cr

Deepak Nitrite jumped 1.74% to Rs 1940 after the chemical maker reported 68.4% jump in consolidated net profit to Rs 290.11 crore on 38.6% rise in net sales to Rs 1463.23 crore in Q4 FY21 over Q4 FY20.

Profit before tax surged 94.1% to Rs 389.94 crore in Q4 FY21 from Rs 200.85 crore registered in Q4 FY20. Total expenses rose by 27.1% to Rs 1008.57 crore in Q4 FY21 over Q4 FY20. The result was announced after market hours yesterday, 5 May 2021.

Among segmental revenue, phenolics segment soared 76.57% to Rs 937.53 crore in Q4 FY21 over Q4 FY20. Basic chemical segment grew 8.66% to Rs 245.21 crore in Q4 FY21 over Q4 FY20. Fine & speciality chemicals business rose 30.3% year on year to Rs 205.95 crore in Q4 FY21. Revenue from performance products segment declined 43.56% to Rs 86.66 crore in Q4 FY21 over Q4 FY20.

The chemical maker reported a 27% jump in consolidated net profit to Rs 775.81 crore for the year ended March 2021 (FY21) from Rs 611.03 crore posted in the year ended March 2020 (FY20). Net sales grew 3.1% to Rs 4359.75 crore in FY21 over FY20.

The board has approved a dividend of Rs 5.5 per equity share (including a special dividend of Rs 1 to commemorate Golden Jubilee year of the company).

Deepak Nitrite is one of the leading supplier of chemical intermediates. It has a diversified portfolio of intermediates that cater to the dyes and pigments, agrochemical, pharmaceutical, plastics, textiles, paper and home and personal care segments in India and overseas.

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