Deepak Fertilisers’ Q4 net up 144% at ₹283 crore on higher sales

Our Bureau | | Updated on: May 25, 2022
Sailesh Mehta, Chairman and Managing Director, Deepak Fertilisers

Sailesh Mehta, Chairman and Managing Director, Deepak Fertilisers

Company announces a dividend of ₹9 per share

Deepak Fertilisers and Petrochemicals Corporation Ltd has reported a 144 per cent growth in March quarter net profits at ₹283 crore as compared to ₹116 crore in the same period last year. Revenues during the quarter were up 28 per cent at ₹2,012 crore as compared to ₹1,575 crore.

For the financial year ended March 2022, net profits were up 69 per cent at ₹687 crore as against ₹406 crore in the previous year. Revenues were up 32 per cent at ₹7,663 crore.

The company said strong top line growth and margin enhancement were primarily supported by robust demand, improved realisation, and strategic initiatives being undertaken in the marketplace. The finance costs in the March quarter reduced by 19 per cent on a year-on-year basis, driven by amortisation of operating term loans and continued reduction in short-term debts.

Deepak Fertiliser board has recommended a dividend of ₹9 per share of face value ₹10 each.

“Improved price realisation on the back of strong demand for our products and strategic initiatives taken in the marketplace allowed us to sustain our momentum despite steep increase in raw material prices and disruption in supply chains of some of our RMs that affected our capacity utilisation in Q4," said Sailesh Mehta, Chairman and Managing Director, in a statement.

Going forward, the company expects market leadership in key product segments and a strong demand outlook to strengthen its business growth and profitability.

Shares of Deepak Fertiliser gained 4.96 per cent on NSE to close at ₹595.90 on Wednesday.

Published on May 25, 2022
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