PBIT margin of Phenolics segment fell from 17.71% to 10.75%.  PBIT margin of Advanced Intermediates segment fell from 21.33% to 18.03%.  Overall PBIT margin fell from 19.15% to 13.73%. 

Operating profit margin has declined from 20.43% to 15.80%, leading to 10.59% decline in operating profit to Rs 314.59 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 62.51% to 65.48%.   Employee cost increased from 3.85% to 4.19%.   Other expenses rose from 12.94% to 13.26%.   Power and Oil fuel cost fell from 7.01% to 6.92%.  

Other income fell 48.12% to Rs 13.36 crore.  PBIDT fell 13.15% to Rs 327.95 crore.  Provision for interest fell 14.26% to Rs 5.83 crore. 

PBDT fell 13.13% to Rs 322.12 crore.  Provision for depreciation fell 9.61% to Rs 41.1 crore. 

Profit before tax down 13.62% to Rs 281.02 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 71.97 crore, compared to Rs 82.87 crore.  Effective tax rate was 25.61% compared to 25.47%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 13.78% to Rs 209.05 crore. 

Promoters’ stake was 45.72% as of 31 December 2022 ,compared to 45.69% as of 31 December 2021 . 

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Deepak Nitrite has increased 21.92% to Rs 6010.7 crore.  Sales of Phenolics segment has gone up 19.70% to Rs 3,800.61 crore (accounting for 62.99% of total sales).  Sales of Advanced Intermediates segment has gone up 26.82% to Rs 2,233.05 crore (accounting for 37.01% of total sales). 

Profit before interest, tax and other unallocable items (PBIT) has slumped 23.60% to Rs 835.94 crore.  PBIT of Phenolics segment fell 39.61% to Rs 417.42 crore (accounting for 49.93% of total PBIT).  PBIT of Advanced Intermediates segment rose 3.88% to Rs 418.52 crore (accounting for 50.07% of total PBIT). 

PBIT margin of Phenolics segment fell from 21.77% to 10.98%.  PBIT margin of Advanced Intermediates segment fell from 22.88% to 18.74%.  Overall PBIT margin fell from 22.17% to 13.85%. 

Operating profit margin has declined from 24.20% to 15.66%, leading to 21.10% decline in operating profit to Rs 941.42 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 60.53% to 67.86%.   Employee cost decreased from 4.06% to 3.94%.   Other expenses rose from 11.53% to 12.43%.   Power and Oil fuel cost rose from 6.20% to 6.75%.  

Other income fell 10.39% to Rs 35.01 crore.  PBIDT fell 20.76% to Rs 976.43 crore.  Provision for interest fell 24.68% to Rs 20.32 crore. 

PBDT fell 20.68% to Rs 956.11 crore.  Provision for depreciation fell 5.79% to Rs 125.38 crore. 

Profit before tax down 22.53% to Rs 830.73 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 212.59 crore, compared to Rs 272.83 crore.  Effective tax rate was 25.59% compared to 25.44%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 22.68% to Rs 618.14 crore. 

Promoters’ stake was 45.72% as of 31 December 2022 ,compared to 45.69% as of 31 December 2021. 

The scrip is currently trading at Rs 1806