Deepak Nitrite Ltd.(NSE: DEEPAKNTR)| Q3 FY23 Results Out| Total Income rises 14% yoy

Deepak Nitrite Ltd.(NSE: DEEPAKNTR) is an Indian chemical company. The company’s manufacturing facilities are located in Nandesari and Dahej in Gujarat, roha and Taloja in Maharashtra and Hyderabad in Telangana. Deepak Nitrite manufactures a wide range of chemical products including agrochemicals, dyes, rubbers, pharmaceuticals, specialty chemicals and fine chemicals.

Deepak Nitrite’s solid financial performance demonstrates the strength of an efficient manufacturing model with good back integration and deep multi-year relationships with key customers. Multiple product volume increases during the quarter allowed the company to record revenue growth Revenue momentum is supported by formula-based pricing, increased wallet share among key customers, and the addition of new customers and geographies. The company maintains a high level of efficiency and continues to move forward with multiple growth initiatives. The management commented, “We will continue to respond quickly to the changing needs and preferences of our customers and deliver professional solutions. In doing so, we use our capital judiciously to expand our market position in the chemicals of our choice. A foray into advanced solvents diversifies the product portfolio, expands the customer base, increases the volume of sophisticated, high-margin products in the portfolio and enhances the business proposition. “