New Delhi, May 28, 2022: Deepak Fertilisers on Wednesday reported a 144.30 per cent jump in consolidated profit after tax (PAT) at Rs 282.91 crore for the quarter ended March 2022.
The company’s PAT stood at Rs 115.80 crore during the corresponding quarter of 2020-21, Deepak Fertilisers and Petrochemicals Corporation said in a BSE filing.
Revenue from operations during the quarter rose 27.77 per cent to Rs 2,012.48 crore as compared to Rs 1,575.08 crore in the same period of the previous fiscal.
For the full fiscal 2021-22, the company’s PAT went up by 69.14 per cent to Rs 687.48 crore as against Rs 406.44 crore in FY21.
Revenue from operations grew by 31.93 per cent to Rs 7,663.29 crore from Rs 5,808.49 crore in 2020-21.
“On the back of strong financial performance in the first 9 month of the year, delivery of robust financial performance in the fourth quarter underscored the unique advantage of integrated operations and diversified end user segments of our products,” Deepak Fertilisers Chairman and Managing Director Sailesh C Mehta said.
He added that improved price realisation on the back of strong demand for the company’s products and strategic initiatives taken at the marketplace allowed it to sustain its momentum despite steep increase in raw material (RM) prices and disruption in supply chains that affected its capacity utilization in the last quarter of FY22.
Going forward, he said, market leadership in key product segments and strong demand outlook will strengthen business growth and profitability.
“In mining chemicals our focus remains on tracking the market and customer demand to maximize volumes through competitive offerings. Our focus is also to demonstrate and deliver value propositions of ANFO (ammonium nitrate/fuel oil) based explosives through our Technical Services,” he noted.
Talking about speciality chemicals, he said the government’s production linked incentive (PLI) schemes in solar and electronic industry is likely to improve demand for niche and specialty premium graded nitric acid.
“On fertilisers we are focusing on increasing our Crop Specific Product Portfolio and market penetration of Speciality Fertilisers,” he said, adding the company’s ammonia project at Taloja (Maharashtra), which is adjacent to its downstream customer, is making strong progress and well on track.
Shares of the company on Wednesday closed at Rs 595.50 on BSE, up 4.95 per cent.
Corporate Comm India (CCI Newswire)
