|
Consolidated
net sales (including other operating income) of Deepak Nitrite has declined
9.36% to Rs 1778.05 crore. Sales of
Phenolics segment has gone down 12.77% to Rs 1,120.13 crore (accounting for
62.57% of total sales). Sales of
Advanced Intermediates segment has gone down 2.20% to Rs 670.20 crore
(accounting for 37.43% of total sales).
Inter-segment sales rose Rs 7.73 crore to Rs 12.28 crore.
Profit
before interest, tax and other unallocable items (PBIT) has jumped 13.59% to Rs
273.77 crore. PBIT of Phenolics segment
rose 65.98% to Rs 170.40 crore (accounting for 62.24% of total PBIT). PBIT of Advanced Intermediates segment fell
25.28% to Rs 103.37 crore (accounting for 37.76% of total PBIT).
PBIT
margin of Phenolics segment rose from 7.99% to 15.21%. PBIT margin of Advanced Intermediates segment
fell from 20.19% to 15.42%. Overall PBIT
margin rose from 12.24% to 15.29%.
Operating
profit margin has jumped from 13.81% to 17%, leading to 11.60% rise in
operating profit to Rs 302.26 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
71.00% to 62.97%. Employee cost
increased from 3.85% to 4.89%. Other
expenses rose from 11.88% to 12.97%.
Power and Oil fuel cost fell from 7.12% to 6.81%.
Other
income rose 41.53% to Rs 17.04 crore.
PBIDT rose 12.87% to Rs 319.3 crore.
Provision for interest fell 54.58% to Rs 2.68 crore.
PBDT
rose 14.31% to Rs 316.62 crore.
Provision for depreciation fell 7% to Rs 39.43 crore.
Profit
before tax grew 18.16% to Rs 277.19 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 72.12
crore, compared to Rs 60.12 crore. Effective
tax rate was 26.02% compared to 25.63%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company increased 17.54% to Rs
205.08 crore.
Equity
capital stood at Rs 27.28 crore as of 30 September 2023 to Rs 27.28 crore as of
30 September 2022. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 49.13% as of 30 September 2023 ,compared to 45.72% as of 30 September
2022.
For year-to-date
(YTD) results analysis
Net
sales (including other operating income) of Deepak Nitrite has declined 11.77%
to Rs 3546.39 crore. Sales of Phenolics
segment has gone down 47.37% to Rs 1,378.51 crore (accounting for 38.65% of
total sales). Sales of Advanced
Intermediates segment has gone up 54.60% to Rs 2,188.01 crore (accounting for
61.35% of total sales). Inter-segment
sales rose Rs 14.65 crore to Rs 20.13 crore.
Profit
before interest, tax and other unallocable items (PBIT) has slumped 15.16% to
Rs 476.31 crore. PBIT of Phenolics
segment fell 11.15% to Rs 258.03 crore (accounting for 54.17% of total
PBIT). PBIT of Advanced Intermediates
segment fell 19.47% to Rs 218.28 crore (accounting for 45.83% of total
PBIT).
PBIT
margin of Phenolics segment rose from 11.09% to 18.72%. PBIT margin of Advanced Intermediates segment
fell from 19.15% to 9.98%. Overall PBIT
margin fell from 13.92% to 13.36%.
Operating
profit margin has declined from 15.59% to 14.44%, leading to 18.32% decline in
operating profit to Rs 512.01 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
68.96% to 63.91%. Purchase of finished
goods cost rose from 0.14% to 2.21%.
Employee cost increased from 3.83% to 4.95%. Other expenses rose from 12.04% to
13.94%. Power and Oil fuel cost rose
from 6.68% to 6.89%.
Other
income rose 125.91% to Rs 48.91 crore.
PBIDT fell 13.50% to Rs 560.92 crore.
Provision for interest fell 69.01% to Rs 4.49 crore. Loan funds declined from Rs 269.91 crore as
of 30 September 2022 to Rs 66.90 crore as of 30 September 2023. Inventories declined from Rs 739.66 crore as
of 30 September 2022 to Rs 725.51 crore as of 30 September 2023. Sundry debtors were higher at Rs 1,212.06
crore as of 30 September 2023 compared to Rs 1,096.29 crore as of 30 September
2022. Cash and bank balance declined
from Rs 64.32 crore as of 30 September 2022 to Rs 36.73 crore as of 30
September 2023. Investments rose to Rs
521.25 crore as of 30 September 2023 from Rs 425.25 crore as of 30 September
2022 .
PBDT
fell 12.23% to Rs 556.43 crore.
Provision for depreciation fell 8.03% to Rs 77.51 crore. Fixed assets increased to Rs 2,425.75 crore
as of 30 September 2023 from Rs 2,068.23 crore as of 30 September 2022. Intangible assets declined from Rs 47.89
crore to Rs 44.29 crore.
Profit
before tax down 12.88% to Rs 478.92 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 123.95
crore, compared to Rs 140.62 crore.
Effective tax rate was 25.88% compared to 25.58%.
Minority
interest was nil in both the periods. Net
profit attributable to owners of the company decreased 13.23% to Rs 354.98
crore.
Equity
capital stood at Rs 27.28 crore as of 30 September 2023 to Rs 27.28 crore as of
30 September 2022. Per share face Value
remained same at Rs 2.00.
Promoters’
stake was 49.13% as of 30 September 2023 compared to 45.72% as of 30 September
2022.
The scrip is
currently trading at Rs 2141
|
Deepak Nitrite : Consolidated
Results
|
|
Particulars
|
2309
(03)
|
2209
(03)
|
Var.(%)
|
2309
(06)
|
2209
(06)
|
Var.(%)
|
2303
(12)
|
2203
(12)
|
Var.(%)
|
|
Net
Sales
|
1,788.05
|
1,961.65
|
-9
|
3,546.39
|
4,019.64
|
-12
|
7,972.06
|
6,802.19
|
17
|
|
OPM
(%)
|
16.9
|
13.8
|
|
14.4
|
15.6
|
|
16.2
|
23.6
|
|
|
OP
|
302.26
|
270.85
|
12
|
512.01
|
626.83
|
-18
|
1,289.38
|
1,603.58
|
-20
|
|
Other
Inc.
|
17.04
|
12.04
|
42
|
48.91
|
21.65
|
126
|
47.58
|
42.61
|
12
|
|
PBIDT
|
319.30
|
282.89
|
13
|
560.92
|
648.48
|
-14
|
1,336.96
|
1,646.19
|
-19
|
|
Interest
|
2.68
|
5.9
|
-55
|
4.49
|
14.49
|
-69
|
24.78
|
34.04
|
-27
|
|
PBDT
|
316.62
|
276.99
|
14
|
556.43
|
633.99
|
-12
|
1,312.18
|
1,612.15
|
-19
|
|
Depreciation
|
39.43
|
42.4
|
-7
|
77.51
|
84.28
|
-8
|
166.3
|
177.7
|
-6
|
|
PBT
|
277.19
|
234.59
|
18
|
478.92
|
549.71
|
-13
|
1,145.88
|
1,434.45
|
-20
|
|
EO
Income
|
0
|
0
|
|
0
|
0
|
|
0
|
0
|
|
|
PBT
after EO
|
277.19
|
234.59
|
18
|
478.92
|
549.71
|
-13
|
1,145.88
|
1,434.45
|
-20
|
|
Taxation
|
72.12
|
60.12
|
20
|
123.95
|
140.62
|
-12
|
293.88
|
367.81
|
-20
|
|
PAT
|
205.07
|
174.47
|
18
|
354.97
|
409.09
|
-13
|
852.00
|
1,066.64
|
-20
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
62.5
|
78.2
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 27.28 crore, Face value of Rs 2, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
Deepak Nitrite : Consolidated
Segment Results
|
|
|
%
of (Total)
|
2309
(03)
|
2209
(03)
|
Var.(%)
|
%
of (Total)
|
2309
(06)
|
2209
(06)
|
Var.(%)
|
%
of (Total)
|
2303
(12)
|
2203
(12)
|
Var.(%)
|
|
Sales
|
|
Advanced
Intermediates
|
37
|
670.20
|
685.3
|
-2
|
39
|
1,378.51
|
1415.28
|
-3
|
38
|
3,033.55
|
2,511.05
|
21
|
|
Phenolics
|
63
|
1120.13
|
1284.08
|
-13
|
61
|
2188.01
|
2619.01
|
-16
|
62
|
4970.49
|
4303.42
|
16
|
|
Total
Reported Sales
|
100
|
1,790.33
|
1,969.38
|
-9
|
100
|
3,566.52
|
4,034.29
|
-12
|
100
|
8,004.04
|
6,814.47
|
17
|
|
Less:
Inter segment revenues
|
|
12.28
|
7.73
|
59
|
|
20.13
|
14.65
|
37
|
|
31.98
|
12.28
|
160
|
|
Net
Sales
|
|
1,778.05
|
1,961.65
|
-9
|
|
3,546.39
|
4,019.64
|
-12
|
|
7,972.06
|
6,802.19
|
17
|
|
PBIT
|
|
Advanced
Intermediates
|
38
|
103.37
|
138.35
|
-25
|
46
|
218.28
|
271.05
|
-19
|
48
|
555.06
|
595.73
|
-7
|
|
Phenolics
|
62
|
170.4
|
102.66
|
66
|
54
|
258.03
|
290.4
|
-11
|
52
|
594.46
|
867.11
|
-31
|
|
Total
PBIT
|
100
|
273.77
|
241.01
|
14
|
100
|
476.31
|
561.45
|
-15
|
100
|
1149.52
|
1,462.84
|
-21
|
|
Less
: Interest
|
|
2.68
|
5.9
|
-55
|
|
4.49
|
14.49
|
-69
|
|
24.77
|
34.05
|
-27
|
|
Add:
Other un-allcoable
|
|
6.11
|
0.51
|
1098
|
|
7.12
|
2.76
|
158
|
|
21.13
|
5.66
|
273
|
|
PBT
|
|
277.2
|
235.62
|
18
|
|
478.94
|
549.72
|
-13
|
|
1145.88
|
1,434.45
|
-20
|
|