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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹18935 Cr.
Stock P/E
20
P/B
2.5
Current Price
₹1494.9
Book Value
₹ 589.3
Face Value
10
52W High
₹1777
52W Low
₹ 865.5
Dividend Yield
0.67%

Deepak Fert & Petro Overview

Business

Deepak Fertilisers And Petrochemicals Corporation Ltd. (DFPCL) is an Indian manufacturer of industrial chemicals, bulk and specialty fertilizers, and technical ammonium nitrate. The company operates across diverse sectors. Its core business model involves manufacturing these products from raw materials like natural gas, rock phosphate, and ammonia, and selling them to a wide range of customers. DFPCL makes money through the sales of its manufactured goods to B2B clients (various industries such as pharma, agrochemicals, dyes, mining, infrastructure) and B2C clients (farmers, primarily for its "Mahadhan" brand of fertilizers).

Revenue Mix

DFPCL's primary business segments are:

Chemicals: This segment includes Industrial Chemicals (e.g., Nitric Acid, Iso Propyl Alcohol (IPA), Ammonia, Carbon Dioxide, Methanol) and Specialty Chemicals. These serve diverse industries including pharmaceuticals, agrochemicals, textiles, and packaging.

Fertilisers: This segment produces complex fertilizers (e.g., NPK, DAP, ANP) and water-soluble fertilizers under the "Mahadhan" brand, catering to the agricultural sector.

Technical Ammonium Nitrate (TAN): Used primarily in the mining, infrastructure, and construction industries as an explosive precursor.

Historically, the Chemicals (including TAN) segment has contributed a larger proportion of the overall revenue, often exceeding 60-70%, with the Fertiliser segment contributing the remainder.

Industry

DFPCL operates in the diverse and growing, yet competitive and often cyclical, Indian Chemicals sector. The fertilizer industry is heavily regulated, subsidy-dependent, and reliant on monsoon patterns. The industrial and specialty chemicals segments are driven by overall economic growth and industrial output.

DFPCL is positioned as one of India's leading manufacturers of certain key products like Technical Ammonium Nitrate (TAN), Iso Propyl Alcohol (IPA), and Nitric Acid. Its diversified portfolio helps mitigate risks associated with over-reliance on any single segment or end-user industry, positioning it as a significant integrated player across multiple chemical value chains.

MOAT

Diversified & Integrated Product Portfolio: DFPCL's presence across fertilizers, industrial chemicals, and TAN reduces dependence on a single sector. Backward integration, particularly in ammonia and nitric acid production, provides better control over raw material costs and supply security.

Scale & Market Leadership: The company holds significant market share and is a leading producer in India for products like TAN, IPA, and Nitric Acid, which can lead to economies of scale and strong bargaining power.

Established Brand: "Mahadhan" is a recognized brand in the fertilizer segment, particularly in specific agricultural regions.

Strategic Locations: Manufacturing facilities are strategically located to optimize logistics for raw material procurement and product distribution.

Growth Drivers

Growth in End-user Industries: Sustained demand from pharmaceuticals, agrochemicals, mining, infrastructure, and construction will drive growth for industrial chemicals and TAN.

Agricultural Growth: Government initiatives for food security, increased irrigation, and demand for advanced crop nutrition solutions will support fertilizer demand.

Capacity Expansions: Ongoing and planned capital expenditure projects to expand production capacities for high-demand products like nitric acid, IPA, and TAN.

Specialty Chemicals Push: Increased focus on developing and expanding the high-margin specialty chemicals portfolio for value addition and margin improvement.

Government Initiatives: 'Make in India' and Production Linked Incentive (PLI) schemes could further boost domestic chemical manufacturing.

Risks

Raw Material Price Volatility: High dependence on imported raw materials like natural gas (for ammonia), rock phosphate, and sulphur, whose prices are subject to global fluctuations, impacting profitability.

Regulatory & Policy Risks: The fertilizer segment is heavily regulated, with government policies on subsidies, pricing, and distribution directly affecting profitability and working capital due to potential subsidy delays. Environmental regulations pose compliance costs.

Competition: Intense competition from both domestic and international players across all segments, potentially leading to price pressure.

Cyclicality & Demand Fluctuations: Demand for industrial chemicals is linked to broader economic cycles, while fertilizer demand is heavily dependent on monsoon patterns.

Foreign Exchange Fluctuations: Exposure to currency movements due to significant imports of raw materials and potential exports.

Project Execution Risks: Delays or cost overruns in large capacity expansion projects.

Management & Ownership

DFPCL was founded by Mr. C.K. Mehta and continues to be led by the promoter family, with Mr. Sailesh C. Mehta serving as the Chairman & Managing Director. The management team is generally perceived as experienced, having steered the company through diversification and strategic expansions. The promoter and promoter group hold a significant ownership stake, typically in the range of 46-47%, aligning their interests with long-term company performance. The remaining shares are held by institutional investors (domestic and foreign) and the public.

Outlook

Deepak Fertilisers benefits from a diversified business model, balancing the essential fertilizer sector with the growing industrial and specialty chemicals segments. Its strong market position in key industrial chemicals like TAN, IPA, and Nitric Acid, coupled with backward integration, provides a degree of resilience against segment-specific downturns and raw material price volatility. The company's strategic focus on expanding its high-margin specialty chemicals portfolio and ongoing capacity expansions are key potential growth avenues.

However, the company remains exposed to significant external risks. The fertilizer segment's profitability is heavily influenced by government subsidy policies, raw material price fluctuations (especially natural gas), and monsoon performance. The industrial chemicals segment is susceptible to global commodity price cycles and demand slowdowns in end-user industries. Efficient execution of expansion projects, effective raw material sourcing, and navigating the evolving regulatory landscape will be crucial for sustainable performance. The ability to increase the share of value-added products will be key to margin improvement.

Deepak Fert & Petro Share Price

Live · BSE / NSE · Inception: 1979
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Deepak Fert & Petro Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 1853 2086 2281 2747 2579 2667 2659 3006 2830 3011
Other Income 11 72 12 7 13 50 24 27 46 6
Total Income 1864 2159 2293 2754 2592 2717 2683 3033 2876 3017
Total Expenditure 1570 1648 1817 2253 2093 2187 2146 2542 2477 2657
Operating Profit 293 510 476 501 499 530 537 491 399 360
Interest 106 112 111 103 98 101 88 75 96 93
Depreciation 91 102 95 100 100 109 103 106 108 106
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 97 296 270 299 301 320 345 310 195 161
Provision for Tax 36 66 70 85 48 42 101 96 53 22
Profit After Tax 61 230 200 214 253 278 244 214 141 139
Adjustments -3 -5 -4 -4 -2 -1 -1 -1 0 0
Profit After Adjustments 58 225 196 210 251 277 243 213 141 139
Adjusted Earnings Per Share 4.6 17.8 15.5 16.6 19.9 22 19.3 16.9 11.2 11

Deepak Fert & Petro Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 3812 4309 4150 5995 6742 4685 5808 7663 11301 8676 10274 11506
Other Income 31 72 16 24 54 95 33 44 84 123 81 103
Total Income 3844 4382 4166 6019 6796 4781 5841 7707 11385 8799 10355 11609
Total Expenditure 3519 3953 3677 5450 6283 4221 4853 6307 9135 7389 8350 9822
Operating Profit 325 429 489 569 514 560 988 1400 2249 1409 2006 1787
Interest 111 130 121 173 229 243 188 155 195 404 413 352
Depreciation 124 122 135 163 171 214 212 233 239 334 403 423
Exceptional Income / Expenses 9 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 98 177 230 230 110 103 588 1013 1816 672 1189 1011
Provision for Tax 31 60 76 66 36 14 182 325 595 204 245 272
Profit After Tax 67 117 155 164 73 89 406 687 1221 468 945 738
Adjustments 1 -1 -0 -1 -3 -2 -6 -9 -11 -15 -11 -2
Profit After Adjustments 68 116 154 163 71 87 400 678 1210 453 934 736
Adjusted Earnings Per Share 7.5 12.8 17 17.9 7.8 9.5 39 56.2 95.9 35.9 74 58.4

Deepak Fert & Petro Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 1472 1536 2016 2046 2098 2181 2703 3884 5067 5542 6237
Minority's Interest 6 -0 8 40 44 43 97 118 126 38 17
Borrowings 339 488 472 626 1771 2084 2187 2321 3231 3063 2777
Other Non-Current Liabilities 154 159 -116 -46 -27 81 130 141 180 54 86
Total Current Liabilities 1470 2300 2510 4231 3159 2497 1997 2241 2817 3054 3526
Total Liabilities 3440 4482 4890 6897 7044 6885 7113 8705 11421 11751 12642
Fixed Assets 1384 1317 2051 2184 2204 2676 2585 2608 2477 6051 5989
Other Non-Current Assets 223 550 655 1186 1905 1804 2102 3060 4560 1542 2451
Total Current Assets 1833 2614 2184 3528 2935 2406 2427 3038 4384 4158 4202
Total Assets 3440 4482 4890 6897 7044 6885 7113 8705 11421 11751 12642

Deepak Fert & Petro Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 90 55 218 93 92 89 158 158 161 279 225
Cash Flow from Operating Activities -54 -110 796 -132 1310 578 1248 1211 493 732 1880
Cash Flow from Investing Activities -189 -62 -840 -1139 -576 -156 -634 -1430 -979 -376 -1062
Cash Flow from Financing Activities 205 330 -81 1269 -737 -354 -613 221 604 -410 -689
Net Cash Inflow / Outflow -38 157 -125 -1 -3 69 1 3 118 -54 129
Closing Cash & Cash Equivalent 52 212 93 92 89 158 158 161 279 225 354

Deepak Fert & Petro Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 7.47 12.78 16.96 17.88 7.77 9.48 38.99 56.25 95.86 35.87 73.95
CEPS(Rs) 21 26.27 31.84 35.98 26.93 32.86 60.22 76.29 115.66 63.47 106.78
DPS(Rs) 4 5 6 6 3 3 7.5 9 10 8.5 10
Book NAV/Share(Rs) 161.18 168.82 221.64 224.94 225.12 232.31 263.21 322.1 401.38 438.99 494.03
Core EBITDA Margin(%) 7.27 7.85 10.81 8.99 6.81 9.33 15.71 16.83 18.09 13.3 17.04
EBIT Margin(%) 5.17 6.77 8.04 6.66 5.03 6.95 12.77 14.49 16.79 11.12 14.18
Pre Tax Margin(%) 2.42 3.9 5.26 3.8 1.63 2.07 9.68 12.56 15.17 6.94 10.53
PAT Margin (%) 1.65 2.58 3.53 2.71 1.09 1.79 6.69 8.53 10.2 4.83 8.36
Cash Profit Margin (%) 4.73 5.27 6.62 5.4 3.63 6.08 10.17 11.42 12.2 8.28 11.93
ROA(%) 2.02 2.96 3.3 2.78 1.05 1.28 5.81 8.69 12.13 4.04 7.75
ROE(%) 4.57 7.81 8.71 8.08 3.59 4.25 16.79 20.87 27.28 8.81 16.04
ROCE(%) 7.94 9.66 9.34 8.4 6.33 6.76 15.04 19.98 26.54 11.78 16.22
Receivable days 78.71 100.58 119.19 98.65 91 97.98 66.02 34.95 35.23 59.71 49.96
Inventory Days 34.13 40.82 46.29 38.33 43.21 55.43 39.65 38.09 35.12 46.23 36.53
Payable days 37.22 39.02 56.35 53.99 82.55 153.21 124.32 98.43 75.98 94.75 82.04
PER(x) 17.77 11.19 14.96 15.56 16.58 7.67 5.82 10 5.72 14.07 15.08
Price/Book(x) 0.82 0.85 1.14 1.24 0.57 0.31 0.86 1.75 1.37 1.15 2.26
Dividend Yield(%) 2.92 3.39 2.29 2.09 2.26 4 3.31 1.6 1.83 1.68 0.9
EV/Net Sales(x) 0.66 0.71 1.02 0.99 0.61 0.71 0.79 1.18 0.89 1.16 1.71
EV/Core EBITDA(x) 7.8 7.08 8.63 10.48 7.96 5.96 4.65 6.48 4.46 7.13 8.76
Net Sales Growth(%) -2.61 13.03 -3.69 44.45 12.46 -30.51 23.97 31.93 47.47 -23.23 18.42
EBIT Growth(%) -52.29 47.01 14.58 14.7 -15.99 2.03 124.38 50.36 72.21 -46.49 48.94
PAT Growth(%) -72.31 76.05 31.9 6.13 -55.23 21.15 356.62 69.15 77.59 -61.7 102.04
EPS Growth(%) -71.73 71.02 32.72 5.42 -56.56 21.98 311.4 44.27 70.42 -62.58 106.16
Debt/Equity(x) 0.94 1.28 1 1.73 1.48 1.37 0.93 0.67 0.71 0.73 0.63
Current Ratio(x) 1.25 1.14 0.87 0.83 0.93 0.96 1.22 1.36 1.56 1.36 1.19
Quick Ratio(x) 0.97 0.87 0.67 0.65 0.67 0.69 0.9 0.89 1.11 0.97 0.89
Interest Cover(x) 1.88 2.36 2.9 2.33 1.48 1.42 4.13 7.54 10.32 2.66 3.88
Total Debt/Mcap(x) 1.14 1.51 0.87 1.39 2.58 4.35 1.07 0.38 0.52 0.63 0.28

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +18% +10% +17% +10%
Operating Profit CAGR +42% +13% +29% +20%
PAT CAGR +102% +11% +60% +30%
Share Price CAGR -5% +39% +30% +26%
ROE Average +16% +17% +18% +12%
ROCE Average +16% +18% +18% +13%

Deepak Fert & Petro Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 45.63 %
FII 10.31 %
DII (MF + Insurance) 13.24 %
Public (retail) 54.37 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 45.4645.6345.6345.6345.6345.6345.6345.6345.6345.63
FII 9.298.919.849.6711.5610.7411.2510.9510.3110.31
DII 7.357.016.310.018.8211.3212.2612.613.1713.24
Public 54.5454.3754.3754.3754.3754.3754.3754.3754.3754.37
Others 0000000000
Total 100100100100100100100100100100

Deepak Fert & Petro Peer Comparison

Chemicals Edit Columns

Deepak Fert & Petro Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Deepak Fert & Petro Pros & Cons

Pros

  • Company has delivered good profit growth of 60% CAGR over last 5 years
  • Debtor days have improved from 94.75 to 82.04days.
  • Company has reduced debt.

Cons

  • Promoter holding is low: 45.63%.
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