Deepak Fertilisers and Petrochemicals Corp Ltd plans to invest Rs 415 crore in expanding its fertiliser capacity this year.

The company proposes to invest around Rs 360 crore in doubling the production capacity of NPK grade complex fertilisers at Taloja from the present 2.29 lakh tonnes to 6 lakh tonnes.

It also plans to set up a new bentonite sulphur project with an investment of Rs 55 crore at Panipat, the company said in a statement.

The capacity augmentation will expand the company’s products from single grade prilled 24:24:0 Nitro Phosphate (NP) fertilisers to multi-grade NPK granulated fertilisers.

“Given the growing concern over India’s declining fertiliser response ratio and the urgent need for balanced fertiliser use, we have decided to expand and more than double our NPK capacity to 6,00,000 tonnes per annum. We believe this project will significantly benefit farmers in Western India and also aid us in significantly enhancing our market share,” said Mr Sailesh C. Mehta, Vice-Chairman and Managing Director of Deepak Fertilisers.

Net profit, revenue

The company reported a 14 per cent drop in standalone net profit for the March quarter, while its revenues grew 61 per cent.

Deepak Fertilisers reported a net profit of Rs 45.48 crore on revenue of Rs 690.26 crore for the quarter ended March 31, 2012 against a net profit of Rs 52.72 crore on income of 428.47 crore.

55% dividend

The company reported a dividend of Rs 5.5 per share or 55 per cent on par value of Rs 10 each for 2011-12

For the year-ended March 2012, the net profit stood at Rs 212.97 crore on revenue of Rs 2,342 crore. In the previous year, the net profit stood at Rs 186.62 crore on an income of Rs 1,564 crore.

The consolidated net profit for the year-ended March 31, 2012 were Rs 211.70 crore on revenue of Rs 2411.57 crore against a net profit of Rs 187.51 crore on income of Rs 1,627.90 crore.

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