Deepak Nitrite (DNL), one of the fastest-growing chemical intermediates company in India reported its Q2 FY22 results after market close on 27 October 2021.

Net profit for the company came in at Rs 254.34 crore for the quarter ended September 2021 against Rs 170.19 crore reported in the same quarter in the previous year. The profit number is however a decline from the Rs 302.63 crore that Deepak Nitrite reported in the June quarter of FY22. This comes on the back of a rise in total expenses in the quarter that came in at Rs 1348 crore against Rs 1129 crore in the previous quarter, owing to higher raw material costs.

Total income is higher in the quarter as well as on a yearly basis, with the chemicals major hauling in Rs 1689 crore in Q2 against Rs 991 crore in the previous year. The figure stood at Rs 1534 in the previous quarter.

Talking about the stock performance, Deepak Nitrite’s stock has had a strong run in the last year following the commercialization of its Phenols and Acetone plant in mid-FY19. 


  • The net profit for the company stood at Rs.254.34 crores, up 49% y-o-y 
  • The company recorded a revenue of Rs 1689 crore in Q2 against Rs 991 crore y-o-y.
  • Q-o-q increase in total revenue stood at 10.10%. 
  • The company looks to unlock new potential, courtesy commercialization of its Phenols and Acetone plant in FY19. 
  • China’s power outage and industrial policies greatly stand to benefit the company. 


  • Q-o-q profits declined significantly to 19.13% from Rs.303 crores to Rs. 254.34 crores
  • Mutual funds have cut their shareholdings in the company

Latest news

  • Deepak Nitrite approves investing $7.71 mn for a stake up to 20% in its Oman arm
  • The company gets approval to produce 2 Ethylhexyl Nitrate
  • Deepak Phenotics, (subsidiary) to expand production capacity of IPA (Isopropyl Alcohol)
  • The company incorporated a wholly-owned subsidiary company called Deepak Clean Tech Limited (DCTL). 

Other things to know

  • Deepak Nitrite now caters to more than half of the domestic demand in phenols and acetone with the commercialization of its 2 plants.
  • Over the last 5 years, the company has seen its revenue grow at 26.05% CAGR which is higher than the industry average at 9.88%.
  • Given the widening power crisis in China that has led to many factories halting production, including chemical manufacturers, this is seen to be benefiting speciality chemical makers in India.