Deepak Nitrite (DEEPAKNTR)

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Deepak Nitrite (DEEPAKNTR) · mywealthgrid

About

Deepak Nitrite manufactures specialty chemicals—intermediates and phenolics—for pharmaceuticals, resins, coatings, and industrial applications. With a market cap of ₹23,504 Cr, the company is positioned as an India-centric alternative to Chinese suppliers as manufacturing supply chains diversify. Cumulative revenues in recent periods stand around ₹1,900–₹2,600 Cr (standalone).

Founded: 1970
Face value: ₹2

Market cap

₹20,362 Cr

P/E

26.0×

P/B

3.5×

Dividend yield

ROE

9.8%

ROCE

11.5%

Debt / equity

0.26

OPM

12.4%

EPS (TTM)

₹57.4

Book value

₹427.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High valuation relative to earnings: PE of 30.01 versus ROE of 9.81% implies the market is pricing in growth not yet delivered in shareholder returns.
Operational volatility: quarterly operating margins range from 6.44% to 20.96%, and one-year stock return is -5.53%, signaling cyclical or execution risk.
China-plus-one positioning depends on sustained supply-chain fragmentation and policy continuity; verify if the company is winning share and whether gains are durable.
Demand for intermediates and phenolics is cyclical; verify exposure to end-markets and downside resilience if pharma or industrial production slows.

Generated analysis · source review pending

Growth drivers

China-plus-one supply diversification is the stated tailwind; verify if the company is winning long-term contracts and gaining pricing power from the shift.
Operating margin expansion capability: Jun 2026 OPM reached 20.96% versus 12.43% average, suggesting product-mix or operational efficiency levers; verify if this is repeatable or quarter-specific.
Low debt-to-equity ratio of 0.26 provides financial capacity for investment; verify capex plans and returns on incremental deployment.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,492.8-2.4%1Y

Quick read

rule-based

Pros

+Comfortable interest coverage of 17.7×
+Dividend payout of 26.1% of profit

Cons

−Profit declined 6.6% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

53/100

Business quality: 51
Growth: 50
Valuation: 59

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Solar Industries India LimitedSOLARINDSSOLARINDS	₹1,75,570 Cr	₹1,77,038 Cr	₹11,351 Cr	₹3,102 Cr	26.7%	₹1,991 Cr	17.7%	34.2%	31.5%	152
Pidilite IndustriesPIDILITINDPIDILITIND	₹1,49,006 Cr	₹1,49,112 Cr	₹15,399 Cr	₹3,772 Cr	24.1%	₹2,649 Cr	16.9%	30%	23.8%	66
SRFSRFSRF	₹73,691 Cr	₹78,695 Cr	₹17,001 Cr	₹3,817 Cr	21.6%	₹2,162 Cr	11.6%	15.8%	13.8%	69
Linde India LimitedLINDEINDIALINDEINDIA	₹53,291 Cr	₹53,291 Cr	₹2,654 Cr	₹913 Cr	35.9%	₹546 Cr	21.7%	15.9%	13.6%	-217
Coromandel International LimitedCOROMANDELCOROMANDEL	₹52,026 Cr	₹52,893 Cr	₹32,602 Cr	₹3,190 Cr	10.2%	₹1,778 Cr	6%	23.3%	16.5%	76
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Fertilizers And Chemicals Travancore LimitedFACTFACT	₹47,559 Cr	₹49,329 Cr	₹5,293 Cr	₹105 Cr	2.3%	₹28 Cr	1%	17.5%	3%	86
Upl LimitedUPLUPL	₹43,628 Cr	₹65,674 Cr	₹52,804 Cr	₹9,326 Cr	17.9%	₹2,020 Cr	4.3%	11.2%	6%	135
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
PI IndustriesPIINDPIIND	₹33,920 Cr	₹34,158 Cr	₹6,516 Cr	₹1,548 Cr	25.3%	₹1,125 Cr	19.7%	14.4%	12.2%	157
Himadri Speciality Chemical LimitedHSCLHSCL	₹33,557 Cr	₹34,323 Cr	₹4,974 Cr	₹1,005 Cr	20.6%	₹799 Cr	16.2%	23.4%	17.8%	103
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,700	4,230	4,360	6,802	7,972	7,682	8,282	7,887
COGS	1,595	2,374	2,264	4,114	5,348	5,236	5,788	5,543
Gross profit	1,105	1,856	2,095	2,688	2,625	2,446	2,494	2,344
	691	830	848	1,084	1,335	1,322	1,402	1,363
	414	1,026	1,247	1,604	1,289	1,123	1,092	981
OPM %	15.3%	24.3%	28.6%	23.6%	16.2%	14.6%	13.2%	12.4%
Depreciation	78	140	153	178	166	166	195	225
Interest	83	115	74	34	25	12	28	46
	15	35	22	43	48	156	84	47
Profit before tax	268	806	1,042	1,434	1,146	1,102	953	757
Tax	94	195	266	368	294	291	255	206
Tax %	35.2%	24.2%	25.5%	25.6%	25.7%	26.4%	26.8%	27.3%
	174	611	776	1,067	852	811	697	551
PAT margin %	6.4%	14.5%	17.8%	15.7%	10.7%	10.6%	8.4%	7%
EPS (₹)	—	44.8	56.9	78.2	62.5	59.5	51.1	40.4
EPS adjusted (₹)	12.7	44.5	56.9	78.2	62.5	59.3	51.1	40.4
	—	10%	9.7%	9%	12%	12.6%	14.7%	18.6%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	23	23	27	27	27	27	27	27	27	27	27
Reserves	450	468	895	1,044	—	2,319	3,311	4,063	4,769	5,361	5,810
Minority interest	—	—	—	—	—	—	—	—	26	36	32
	427	427	882	1,125	—	578	301	54	217	1,171	1,528
	394	367	786	731	—	636	791	984	1,057	1,122	1,284
Total equity & liabilities	1,294	1,286	2,591	2,928	—	3,560	4,430	5,129	6,096	7,718	8,681
	598	598	588	1,716	1,832	1,864	1,963	1,942	2,293	2,457	3,270
CWIP	32	32	955	34	—	207	104	283	774	1,649	1,828
Investments	87	88	32	2	—	189	439	379	122	511	213
	578	567	1,017	1,176	—	1,301	1,924	2,525	2,908	3,101	3,370
Total assets	1,294	1,286	2,591	2,928	—	3,560	4,430	5,129	6,096	7,718	8,681

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Phenolics	5,400.68	694.58	2,674.36	765.58	1,908.78	36.39
Advanced Intermediates	2,553.32	106.95

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.9%	43.9%	48.1%	39.5%	32.9%	31.8%	30.1%	29.7%
EBITDA margin %	15.3%	24.3%	28.6%	23.6%	16.2%	14.6%	13.2%	12.4%
EBIT margin %	12.4%	20.9%	25.1%	21%	14.1%	12.5%	10.8%	9.6%
PAT margin %	6.4%	14.5%	17.8%	15.7%	10.7%	10.6%	8.4%	7%
Working capital
Receivable days	78	—	63	61	60	62	56	70
Inventory days	94	—	62	52	61	53	58	57
Payable days	—	—	70	45	45	41	33	35
NWC days	—	—	55	67	76	74	82	91
Leverage
Current ratio	1.31	—	2.62	3.06	3.45	3.62	3.57	2.4
Debt to EBITDA	2.72	—	0.46	0.19	0.04	0.19	1.07	1.56
Debt to equity	1.05	—	0.25	0.09	0.01	0.05	0.22	0.26
Interest coverage	4.2	8	15	43.1	47.2	87.4	35.6	17.7
Asset turnover	0.92	—	1.22	1.54	1.55	1.26	1.07	0.91
Return ratios
Return on assets %	5.9%	—	21.8%	24.1%	16.6%	13.3%	9%	6.3%
Return on capital employed %	17.2%	—	37.1%	43.9%	29.2%	21.4%	16.2%	11.5%
Return on equity %	16.2%	—	33.1%	32%	20.8%	16.9%	12.9%	9.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.13%	49.13%	49.13%	49.24%	49.24%	49.24%	49.28%	49.28%	49.28%	49.33%	49.33%	49.34%
	6.47%	6.48%	6.72%	6.86%	6.69%	6.6%	6.65%	6.68%	6.21%	6.05%	6.19%	6.25%
	17.95%	18.87%	19.27%	21.21%	22.29%	23.22%	23.22%	22.62%	22.7%	23.2%	23.47%	23.76%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.45%	25.52%	24.88%	22.69%	21.78%	20.94%	20.85%	21.42%	21.81%	21.42%	21.01%	20.65%
No. of shareholders	—	—	—	—	—	—	—	—	4,19,367	4,08,560	3,96,798	3,82,905

Promoter holding up 0.21 percentage points since Sep 2023.

31 deals · 19 Sept 2022 – 11 Feb 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Feb 2026	PIONEER INVESTMENT FUND	Block	NSE	Sell	1,76,699	₹1,677.00	₹29.63 Cr
11 Feb 2026	PI OPPORTUNITIES AIF V LLP	Block	NSE	Buy	1,76,699	₹1,677.00	₹29.63 Cr
16 Jan 2026	PI OPPORTUNITIES AIF V LLP	Block	NSE	Buy	2,57,566	₹1,550.00	₹39.92 Cr
16 Jan 2026	PIONEER INVESTMENT FUND	Block	NSE	Sell	2,57,566	₹1,550.00	₹39.92 Cr
3 Dec 2024	MOTILAL OSWAL MIDCAP 30 FUND	Bulk	NSE	Sell	7,60,000	₹2,653.22	₹201.64 Cr
6 Nov 2024	PRAZIM TRADING AND INVESTMENT COMPANY PRIVATE LIMITED	Block	BSE	Sell	2,70,615	₹2,695.00	₹72.93 Cr
6 Nov 2024	PI OPPORTUNITIES AIF V LLP	Block	BSE	Buy	2,70,615	₹2,695.00	₹72.93 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	89,689	₹2,118.15	₹19.00 Cr
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	89,689	₹2,118.15	₹19.00 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	89,689	₹2,343.45	₹21.02 Cr

1–10 of 31

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Mr. Dr. (Hon.) Deepak C MehtaExecutive Director-Chairperson-MD
Mr. Maulik D MehtaExecutive Director
Mr. Sanjay UpadhyayExecutive Director
Mr. Ajay MehtaNon-Executive - Non Independent Director
Mr. Meghav D MehtaExecutive Director
Mr. Dileep ChoksiNon-Executive - Independent Director
Mr. Punit LalbhaiNon-Executive - Independent Director
Mr. Vipul ShahNon-Executive - Independent Director
Mr. Girish SatarkarExecutive Director
Mr. Dr. Arvind Nath AgrawalNon-Executive - Independent Director
Mr. Mahesh ChhabriaNon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 10 fund houses

Held by these funds

10.05%

of the company's equity

All mutual funds

11.45%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

43 schemes · 10 fund houses

		Shares
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	40.79 L	713.62	1%	2.991%	—
SMALL CAP FUND	Nippon India Mutual Fund	18.58 L	324.97	0.39%	1.362%	-0
Franklin India Small Cap Fund (Formerly known as Franklin India Smaller Companies Fund) ^	Franklin Templeton Mutual Fund	13.88 L	242.81	1.65%	1.018%	-0
Franklin India Mid Cap Fund (Formerly known as Franklin India Prima Fund) ^	Franklin Templeton Mutual Fund	11 L	192.46	1.47%	0.807%	-0
Franklin India Focused Equity FundNEW	Franklin Templeton Mutual Fund	8.04 L	140.7	1.22%	0.59%	—
Multi Cap FundNEW	ICICI Prudential Mutual Fund	7.22 L	126.34	0.65%	0.529%	—
Growth Mid Cap FundNEW	Nippon India Mutual Fund	6.49 L	113.62	0.22%	0.476%	—
Multi Asset Allocation FundNEW	SBI Mutual Fund	5 L	87.47	0.42%	0.367%	—

1–8 of 43

1 / 6

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Credit Rating11 Aug 2025

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

21

Final dividend27 Jul 2026 · ex-date₹7.5
Dividend dividend4 Aug 2025 · ex-date₹7.5
Dividend dividend29 Jul 2024 · ex-date₹7.5
Final dividend27 Jul 2023 · ex-date₹7.5
Dividend dividend25 Jul 2022 · ex-date₹7
Dividend dividend20 Jul 2021 · ex-date₹4.5
Special dividend20 Jul 2021 · ex-date₹1
Interim dividend16 Mar 2020 · ex-date₹4.5
Final dividend19 Jun 2019 · ex-date₹2
Dividend dividend25 Jul 2018 · ex-date₹1.3
Dividend dividend15 Jun 2017 · ex-date₹1.2
Dividend dividend28 Jul 2016 · ex-date₹1.2
Dividend dividend30 Jul 2015 · ex-date₹1
Dividend dividend31 Jul 2014 · ex-date₹1
Dividend dividend23 Jul 2013 · ex-date₹8
Dividend dividend24 Jul 2012 · ex-date₹6
Dividend dividend26 Jul 2011 · ex-date₹6
Dividend dividend22 Jul 2010 · ex-date₹5
Dividend dividend16 Jul 2009 · ex-date₹5
Dividend dividend31 Jul 2008 · ex-date₹4
Dividend dividend7 Sept 2007 · ex-date₹4

1

Board meeting to consider results4 Aug 2026

1

Face value ₹10 → ₹220 Jun 2014 · ex-date

1–3 of 4

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

19 announcementsExport CSV

29 Sept 2026, 6:35 pmCompany Update

Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	40.9%	43.9%	48.1%	39.5%	32.9%	31.8%	30.1%	29.7%
EBITDA margin %	15.3%	24.3%	28.6%	23.6%	16.2%	14.6%	13.2%	12.4%
EBIT margin %	12.4%	20.9%	25.1%	21%	14.1%	12.5%	10.8%	9.6%
PAT margin %	6.4%	14.5%	17.8%	15.7%	10.7%	10.6%	8.4%	7%
Working capital
Receivable days	78	—	63	61	60	62	56	70
Inventory days	94	—	62	52	61	53	58	57
Payable days	—	—	70	45	45	41	33	35
NWC days	—	—	55	67	76	74	82	91
Leverage
Current ratio	1.31	—	2.62	3.06	3.45	3.62	3.57	2.4
Debt to EBITDA	2.72	—	0.46	0.19	0.04	0.19	1.07	1.56
Debt to equity	1.05	—	0.25	0.09	0.01	0.05	0.22	0.26
Interest coverage	4.2	8	15	43.1	47.2	87.4	35.6	17.7
Asset turnover	0.92	—	1.22	1.54	1.55	1.26	1.07	0.91
Return ratios
Return on assets %	5.9%	—	21.8%	24.1%	16.6%	13.3%	9%	6.3%
Return on capital employed %	17.2%	—	37.1%	43.9%	29.2%	21.4%	16.2%	11.5%
Return on equity %	16.2%	—	33.1%	32%	20.8%	16.9%	12.9%	9.4%

Date	Category	Subject	Filing
29 Sept 2026, 6:35 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015	PDF
29 Sept 2026, 1:48 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI LODR, Regulations, 2015	PDF
26 Aug 2026, 6:25 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015	PDF
25 Aug 2026, 5:52 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015	PDF
21 Aug 2026, 6:25 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
11 Aug 2026, 3:51 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
7 Aug 2026, 4:57 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015	PDF
7 Aug 2026, 4:39 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	167	49	183	60	765	999	824	650	878	625	539
	-169	-353	-525	-163	-428	-396	-424	-276	-722	-1,491	-669
	4	305	345	96	-338	-596	-386	-359	44	806	193
Net cash flow	2	1	4	-6	-1	7	14	15	200	-60	64
Free cash flow	167	49	183	60	765	792	637	292	136	-497	-646
CFO / Operating profit %	—	—	—	14.6%	74.5%	80.1%	51.4%	50.4%	78.2%	57.2%	55%

Deepak Nitrite

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends21

Board meetings1

Stock splits1

Announcements

Dividends21

Board meetings1

Stock splits1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Advanced Intermediates · revenue

21

1

1

21

1

1