Deepak Nitrite Limited — Investor Meet, 21-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Deepak Nitrite's Q1 FY26 consolidated revenue was INR 1,897 Cr (-7% QoQ). EBITDA grew 11% QoQ to INR 197 Cr, with margins expanding to 10% (excluding government incentives). Profit before tax rose 17%. The Advanced Intermediates segment faced delayed agrochemical off-take, but Phenolics showed resilience with better margins. Management acknowledged industry headwinds like China oversupply but is confident of demand recovery, citing focus on import substitution and strategic expansions. Key projects like Nitric Acid plants are expected online by Q2 FY26, and MIBK/MIBC plants by Q3 FY26, enhancing margins. The INR 10,000 Cr capex plan, including the Polycarbonate complex by Dec 2027, aims for long-term integrated growth. Management's tone remains confident on future prospects.