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27 Years
4.4 Star
1 Crore +
Commodity Chemicals firm Deepak Nitrite announced Q4FY23 results:
- Q4FY23:
- Revenue: Rs 1,974 crore, up 5% YoY, down 2% QoQ
- EBITDA: Rs 361 crore, down 13% YoY, up 10% QoQ
- PAT: Rs 234 crore, down 13% YoY, up 12% QoQ
- FY23:
- Revenue: Rs 8,070 crore, up 17% YoY
- EBITDA: Rs 1,337 crore, down 19% YoY
- PAT: Rs 852 crore, down 20% YoY
Commenting on the performance for Q4FY23 & FY23, Deepak C. Mehta, Chairman & Managing Director said: “Our company has performed well in the fiscal year 2023, with healthy topline growth driven by stable demand and high plant efficiency. We have strengthened our market position in several product portfolios and achieved production and delivery volume benchmarks. Despite inflationary pressures in some inputs and utilities, we remain committed to sustainable profitability, focused on people, the planet, and profit.
We are extending our product portfolio by introducing new products from our R&D pipeline, confident that our growing footprint across established and new chemistries will sustain our momentum. We have efficiently faced challenges, and fulfilled our supply commitments, ensuring a consistent and steady supply of products to customers. We remain agile, capitalizing on opportunities created through swift shifts in the industry landscape, and excited by our prospects.
Our large-scale investment plans reflect our enthusiasm to capitalize on the opportunities available both in India and worldwide. We continue to diversify our product offering by introducing novel intermediates, broadening our clientele, and improving the overall value proposition. Our robust financial position, deep client relationships, and considered growth investments position us well to elevate our business proposition and consistently enhance value for stakeholders.”
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