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Deepak Nitrite acquires land parcels for expansion plans

Wednesday, 27 May 2020
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Deepak Nitrite, a chemical intermediates company, has acquired various parcels of land during FY20 for its expansion plans.
 
This includes 127 acre at Dahej, 1.4 acre in Hyderabad adjoining its existing facility and 1.5 acre acquired in Roha adjoining its existing facility. The company has paid Rs 141 crore in aggregate for these land parcels, which has been capitalised during FY20.
 
Deepak Phenolics (DPL) commenced commercial production of Isopropyl Alcohol (IPA) at its manufacturing facility situated at Dahej, Gujarat, effective from 21 April2020. The facility has capacity to manufacture 30,000 tonne of IPA annually.
 
The company announced its financial results for Q4/FY20 and FY20.
 
The company’s revenues stood at Rs 526 crore in Q4/FY20 as compared to Rs 488 crore in Q4/FY19, higher by eight percent Y-o-Y. The revenue growth was impacted due to 10 days of lockdown in March 2020. The performance of the company was led by realisation gains in both Fine & Speciality Chemicals (FSC) and Performance Products (PP) segment.
 
The revenues from domestic market stood at Rs 264 crore in Q4/FY20 as against Rs 345 crore in Q4/FY19. Some part of volumes was diverted towards exports. Also, some revenue de-growth is attributable to shutdown of manufacturing capacity for 10 days in March 2020 as a result of national lockdown.
 
The company’s consolidated turnover stood at Rs 4,265 crore in FY20.

 

 
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