The reappointment is subject to the approval of the company's shareholders.

Mehta is an Industrialist with business and management experience. He is a B. Com graduate and MBA from USA. Under his leadership, the company has emerged as one of the world's top five manufacturers of Technical Ammonium Nitrate, Asia's leading manufacturer of Nitric Acid and a domestic market leader in specialty fertilisers and crop nutrients.

He also led the company to become one of the largest producers of Iso-Propyl Alcohol (IPA), Ammonium Nitro Phosphate and Bentonite Sulphur and has been instrumental in launching its first indigenously manufactured water-soluble fertiliser.

Deepak Fertilisers & Petrochemicals Corporation is a manufacturer of fertilizers and chemicals.

The company's consolidated net profit rises 38.8% to Rs 249.44 crore on 40.9% jump to Rs 2,754.76 crore in Q3 FY23 over Q3 FY22.

Shares of Deepak Fertilisers & Petrochemicals Corporation declined 1.06% to Rs 529.80 on the BSE.