Earnings | Deepak Fertilisers & Petrochemicals Corporation Ltd. (NSE:DEEPAKFERT): Q3FY23 Results Out; Total Income rise 41% YoY

Deepak Fertilisers & Petrochemicals Corporation Ltd. (NSE:DEEPAKFERT) is a diversified company that operates in the chemicals, fertilizers, and mining industries. It manufactures industrial chemicals, agricultural fertilizers, and specialty chemicals for various industries. The company has a strong presence in the Indian and international markets.

Deepak Fertilisers & Petrochemicals Corporation Ltd. (DFPCL) announced its Q3FY23 results, reporting strong performance despite adverse movement of key raw material (RM) prices. DFPCL’s 9M chemicals segment contributed ~87% of segment profits, with revenues growing by 60% YoY and margins increasing from 21% (9M FY22) to 33% (9M FY23). The 9M fertilisers segment also saw revenue growth of 39% YoY, with segment margins of 7%.

For the period ended December 31, 2022, DFPCL reported total income of Rs. 2785.31 crore, compared to Rs. 2746.39 crore during the period ended September 30, 2022. The company posted net profit of Rs. 249.44 crore for the period, compared to net profit of Rs. 271.9 crore for the period ended September 30, 2022. EPS for the period ended December 31, 2022, was reported at Rs. 19.76, compared to Rs. 22.22 for the period ended September 30, 2022. Compared to the same period last year, the company reported total income of Rs. 2785.31 crore during the period ended December 31, 2022, up from Rs. 1972.8 crore during the period ended December 31, 2021. Net profit for the period ended December 31, 2022, was reported at Rs. 249.44 crore, up from net profit of Rs. 179.7 crore for the period ended December 31, 2021. EPS for the period ended December 31, 2022, was reported at Rs. 19.76, up from Rs. 14.76 for the period ended December 31, 2021.

Commenting on the performance, Mr. Sailesh C. Mehta, Chairman & Managing Director: “ We, at DFPCL group, have been consistent in delivering overall business growth supported by strong operational performance, dominant market position and robust cashflows. This is indeed our Best Ever Q3 and 9M Performance despite having to weather the headwinds such as unfavourable raw material pricing and difficult global economic conditions. Our Ammonia Greenfield Plant is on track, and we expect that it will be operational by the first quarter of FY24. Project has already achieved an overall progress of 93.5% as of Dec’22 and construction work is almost complete. Project has already been granted Ultra-Mega project status by Government of Maharashtra.”