India · Delayed Price · Currency is INR Deepak Nitrite Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 saw strong operational and financial performance, with EBITDA up 74% sequentially and margins rising to 18%, despite global disruptions. Strategic projects and cost optimization initiatives position the company for continued growth, with Q1 FY 2027 expected to improve further.
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Q3 FY 2026 delivered 3% revenue growth and 16% higher EBITDA year-on-year, with margin improvement despite global pricing pressures. Vertical integration and new capacity ramp-ups are expected to drive margin normalization and growth in Q4, supported by favorable trade policy shifts.
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Q2 FY2026 saw sequential revenue and margin growth, with phenolics outperforming and advanced intermediates under pressure from tariffs and dumping. Major projects and new products are set to drive growth, with most new capacities to be commissioned by June 2026.
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Q1 FY26 saw resilient performance with consolidated revenue of INR 1,897 crore and EBITDA up 11% sequentially, driven by phenolics and cost optimization, despite challenges in agrochemical intermediates. Major CapEx and integration projects are on track, with new product launches and backward integration expected to boost growth and margins from Q3 FY26.
Fiscal Year 2025
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FY 2025 saw resilient performance amid global headwinds, with 8% revenue growth and stable EBITDA. Major CapEx projects in phenol, acetone, and polycarbonate resin are underway, supporting future growth. Margin normalization and improved profitability are expected in FY 2026.
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Q3 saw a 5% YoY revenue decline and margin compression due to weak agrochemical demand, high raw material costs, and project delays. Recovery is expected from Q4 as demand stabilizes, new capacities come online, and cost optimization measures take effect.
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Announced INR 5,000 crore investment in a polycarbonate resin project with Trinseo partnership, supporting India's import substitution and downstream integration. Q2 revenue grew 14% year-on-year, with strong phenolics performance and resilient margins despite global volatility. Several projects are set for commissioning in the next year.
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Q1 FY25 saw 21% revenue and 36% EBITDA growth year-over-year, led by strong phenolics performance and robust domestic demand. Expansion projects and new product launches are on track, with recovery in key segments expected from Q3 onwards.