On 2 June 2022, fire broke out at Deepak Nitrite's Nandesari plant with series of explosion. Following the incident, the Gujarat government issued a closure notice to the company's Nandesari plant, till it follows compliances related to plant and building safety.
Deepak Nitrite manufactures intermediates and speciality chemicals besides performance products and phenol.
The chemical maker reported 7.9% decline in consolidated net profit to Rs 267.21 crore despite a 28% rise in net sales to Rs 1872.35 crore in Q4 FY22 over Q4 FY21.
Shares of Deepak Nitrite rose 0.42% to Rs 1818 on the BSE.
