1 week Ago
Stock Market Today: Deepak Fertilisers and Petrochemicals Corporation share price that has risen 9-10 % in last two trading sessions. Deepak Fertilisers is trading near 1 year high it scaled on Tuesday. The stock closed at ₹ 1216 on the BSE on Wednesday.
Strong Q2 performance- The Q2 performance by remained strong as net profit during July -September quarter marked a growth of 237% year on year. While its topline at ₹ ₹ 2747 grew 13%, the operating Ebitda grew 73%. Deepak Fertilizer highlighted that Over the last 5 year Q2, revenue and operating Earnings before interest tax depreciation and Amortisation (Ebitda) has demonstrated sustainable growth trend.
Deepak Fertilizers also achieved an 83% year-over-year increase in sales volume of manufactured bulk fertilizer, marking the highest sales in a quarter. In the current year the good monsoon season has meant that fertilizer and crop protection sales also got a boost. 4 key strategic initiatives being undertaken to drive prospects Sailesh C.
Mehta, Chairman & Managing Director of Deepak Fertilisers and Petrochemicals Corporation highlighted company's four key strategic initiatives that will improve growth prospects 1.Deepak Fertilisers and Petrochemicals Corporation has aligned its growth plans with India growth story particularly in coal, cement, real estate, and horticulture. 2.
The Backward integration in Ammonia manufacturing has meant improvement in margins while company now has no dependent on imported raw material. 3.The Speciality focus has been provided with crop based nutrition proacts being introduced and the business is no more a pure commodity based business 4.
With NCLTs nod for approval of Demerger of various businesses as mining Chemicals, Crop Nutrition Business and Industrial chemicals, the demerger is likely to be completed with this year Additionally, the expectation of the government's anti-dumping duty on IPA for five years is positive and may benefits margins positively too. The development of the two projects – the technical ammonium nitrate facility and nitric acid capacity addition will also enhance market leadership and support operations was shared as well. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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