Deepak Nitrite Reports Outstanding PAT Growth of 55% YoY

/ -- Q3 & 9M FY2019 - Financial Results
Standalone Revenue at Rs. 457.8 crore vs. Rs. 371.6 crore in Q3 FY18, up by 23%
EBITDA at Rs. 71.7 crore vs. Rs. 52.7 crore in Q3 FY18, growth of 36%
Standalone PAT at Rs. 31.6 crore vs. Rs. 20.3 crore in Q3 FY18, higher by 55%
Phenol plant commissioned on Nov 1st, 2018
Ramping up of capacity utilization above 80% already achieved in Q3 contributing to additional turnover of Rs. 321 Cr from manufacturing

Consol. turnover (from manufacturing) at Rs. 778.8 crore vs. Rs. 371.6 crore, up 110%
CMD's Message:

Commenting on the performance, Mr. Deepak C. Mehta, Chairman & Managing Director, said, "We are pleased to have sustained our growth momentum in Q3 of this fiscal year with revenues increasing by 23% on a year-on-year basis. This was due to improved realisations in the domestic market on the back of healthy demand in the end-user industries. Favourable shifts in product mix and benefits of operating leverage have propelled PAT higher by 55% yoy."
"The turnaround of the Performance Products segment that reported over 50% growth in turnover is heartening. This is an outcome of careful planning and reorientation of focus towards customers and end-user industries that are exhibiting steady growth and value the high-quality and differentiation in our offerings."

"A development to note during the quarter was the commissioning of our Greenfield facility of Phenol and Acetone. I am delighted to share that we have already stabilised this mega plant and consistently achieved above 80% utilisation in a short span upon commissioning. Through rigorous efforts undertaken towards seed marketing, creation of complementary supply chain infrastructure and logistics as well as selection of the right team, we have been able to report positive EBITDA and PBT in the first quarter of commissioning itself. I would like to congratulate the entire team at Deepak Phenolics for seamless planning and execution."
"This is just the beginning and I am confident that the several exciting opportunities in downstream intermediates will assist us in further elevating our performance in times ahead."

Financial Highlights (Standalone)
Q3 FY2019
Performance Highlights
Domestic & Exports
Commissioned the Greenfield Project of Phenol & Acetone
Following are some of the key milestones achieved in Phenol & Acetone in Q3:
Successfully stabilised the plant and ramped up capacity utilisation above 80% during Q3 FY19 delivered positive EBITDA and PBT in the very first quarter of plant commissioning
Delivered positive EBITDA and PBT in the very first quarter of plant commissioning
Succeeded in replacing bulk of imports of phenol and acetone in the local market
Succeeded in making pharma grade acetone and also making first export of acetone
Achieved production and despatch of approximately 75% of average capacity utilisation showcasing robust logistics

Seed marketing efforts in pre-commissioning phase have firmly established DPL in leadership position
About Deepak Nitrite Limited
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