દીપક નાઈટ્રાઈટ સ્ટોક પર દબાણ: વિશ્લેષકોએ ઓવરસપ્લાય, નબળી માંગને નજીકના ગાળાની મંદીનું કારણ ગણાવ્યું

Chemicals

Published on 21st November 2025, 5:53 AM

Author

Akshat Lakshkar | Whalesbook News Team

Overview

દીપક નાઈટ્રાઈટના શેર આ વર્ષે લગભગ 30% ઘટ્યા છે, જે તેને નિફ્ટી કેમિકલ્સ ઇન્ડેક્સમાં પાછળ રાખે છે. વિશ્લેષકો ફેનોલિક્સમાં (phenolics) સતત ઓવરસપ્લાય (oversupply) અને એગ્રો-લિંક્ડ ઇન્ટરમિડિએટ્સ (agro-linked intermediates) માટે નબળી માંગનો ઉલ્લેખ કરીને, તેના નજીકના ગાળાના પ્રદર્શન વિશે સાવચેત છે. લાંબા ગાળાની સંભાવનાઓ નોંધપાત્ર મૂડી ખર્ચ (capital expenditure) યોજનાઓને કારણે સકારાત્મક દેખાય છે, પરંતુ ઝડપી સુધારો અપેક્ષિત નથી, અને નબળાઈ 2026 સુધી ટકી શકે છે. જે રોકાણકારો તાત્કાલિક વળતર ઈચ્છે છે તેમને અન્યત્ર વધુ સારી તકો મળી શકે છે, જ્યારે લાંબા ગાળાના રોકાણકારો ધીમે ધીમે ખરીદી કરવાનું વિચારી શકે છે.

Deepak Nitrite Ltd

₹ 1,692-0.73%

21 Nov – close price

🔗godeepak.com•BSE: 506401•NSE: DEEPAKNTR

Market Cap₹ 23,063 Cr.

Current Price₹ 1,692

High / Low₹ 2,779

Stock P/E108

Book Value₹ 232

Dividend Yield0.44 %

ROCE10.1 %

ROE8.22 %

Face Value₹ 2.00

Sales₹ 2,434 Cr.

OPM9.27 %

Mar Cap₹ 23,063 Cr.

ABOUT

Incorporated in 1970, Deepak Nitrite Ltd manufactures Basic Intermediates, Fine& Speciality Chemicals, PerformanceProducts, and Phenolics[1]

KEY POINTS

Business SegmentsThe company isone of the fastest growing chemical intermediates company in Indiawith a portfolio of 32+ products and 56+ applications, divided into 2 segments:[1]

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Pidilite Inds.	1472.10	66.73	149797.56	0.68	584.60	8.36	3554.44	9.88	29.84	13817.59	23.31	2244.67	579.23	15.68	16.22	0.05
2.	Gujarat Fluoroch	3481.10	56.20	38214.67	0.09	179.00	47.93	1210.00	1.85	9.89	4864.00	26.89	680.00	179.00	5.02	5.51	0.23
3.	Navin Fluo.Intl.	5973.00	68.91	30601.26	0.20	148.37	152.24	758.42	46.26	11.68	2790.96	27.91	444.09	148.37	8.50	6.27	0.33
4.	Deepak Nitrite	1691.80	108.25	23063.48	0.44	111.65	-21.52	615.92	1.86	10.08	2434.26	9.27	213.06	111.65	7.29	7.15	0.01
5.	BASF India	4395.30	49.48	19033.61	0.46	101.05	-21.02	3904.04	-8.09	18.02	14603.55	4.17	384.69	101.05	4.99	6.07	0.04
6.	Atul	5971.00	32.43	17584.60	0.42	182.37	31.01	1551.85	11.42	12.81	5898.32	16.11	542.25	179.24	2.97	7.48	0.03
7.	Vinati Organics	1594.60	35.56	16534.10	0.47	129.02	21.59	546.27	-1.27	20.61	2258.65	29.70	464.92	129.02	5.56	13.64	0.00
–	Median: 91 Co.	295.95	28.62	871.16	0.3	7.23	-1.61	131.05	3.92	13.98	520.49	13.0	26.34	7.25	2.96	7.48	0.11

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	685	818	800	708	671	674	671	716	605	552	654	612	616
Expenses	545	657	654	583	553	562	587	619	530	510	577	553	569
Operating Profit	140	160	146	125	118	112	84	97	75	42	78	60	47
Other Income	71	12	10	10	89	11	97	14	110	8	19	7	100
Profit before tax	192	152	135	115	186	100	157	85	158	24	70	41	119
Tax %	17%	26%	26%	26%	15%	26%	26%	26%	10%	28%	23%	26%	6%
Net Profit	159	113	101	86	157	75	116	63	142	17	54	30	112
EPS in Rs	11.62	8.30	7.37	6.29	11.54	5.46	8.48	4.62	10.43	1.26	3.95	2.22	8.19

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,270	1,327	1,336	1,233	1,455	1,792	2,230	1,809	2,511	3,034	2,724	2,526	2,434
Expenses	1,154	1,186	1,166	1,086	1,245	1,480	1,425	1,271	1,865	2,446	2,278	2,233	2,209
Operating Profit	116	141	170	146	210	312	805	538	646	588	446	294	226
Other Income	-0	1	-0	83	6	-2	1	13	71	101	203	149	134
Interest	28	38	39	32	42	45	22	6	3	3	4	5	4
Depreciation	30	36	39	48	52	53	78	67	73	76	87	100	102
Profit before tax	58	68	91	149	122	212	706	479	642	610	558	338	254
Net Profit	38	53	65	111	83	138	544	355	486	469	433	276	213
EPS in Rs	3.67	5.11	5.60	8.46	6.12	10.12	39.89	26.01	35.65	34.41	31.78	20.27	15.62
Dividend Payout %	27%	20%	21%	14%	21%	20%	11%	21%	20%	22%	24%	37%	–

Compounded Sales Growth

10 Years:7%

5 Years:3%

3 Years:0%

TTM:-9%

Compounded Profit Growth

10 Years:17%

5 Years:-15%

3 Years:-20%

TTM:-37%

Stock Price CAGR

10 Years:38%

5 Years:16%

3 Years:-7%

1 Year:-37%

Return on Equity

10 Years:17%

5 Years:16%

3 Years:13%

Last Year:8%

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	10	21	23	26	27	27	27	27	27	27	27	27	27
Reserves	297	326	453	706	917	1,031	1,464	1,817	2,229	2,598	2,927	3,099	3,138
Borrowings	508	545	495	574	462	328	219	8	24	11	32	50	35
Other Liabilities	245	234	290	254	397	450	344	324	364	415	385	444	419
Total Liabilities	1,061	1,126	1,261	1,559	1,802	1,835	2,054	2,177	2,644	3,050	3,372	3,620	3,620
Fixed Assets	461	549	593	568	569	589	720	776	674	728	835	898	934
Gross Block	698.77	817.38	898.32	610.25	621.14	642.25	798.07	1,031.03	995.89	1,120.41	1,301.64	1,459.46	–
Accumulated Depreciation	237.49	268.66	305.19	42.28	51.95	52.88	77.94	255.12	322.09	392.08	466.35	561.50	–
CWIP	71	38	14	41	36	29	90	69	83	77	126	170	151
Investments	3	17	133	358	455	563	563	689	909	1,057	945	1,372	1,408
Other Assets	526	522	520	593	742	654	682	644	978	1,188	1,466	1,179	1,127
Total Assets	1,061	1,126	1,261	1,559	1,802	1,835	2,054	2,177	2,644	3,050	3,372	3,620	3,620

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-14	105	191	93	214	277	515	442	228	310	418	254
Cash from Investing Activity	-97	-87	-162	-274	-189	-78	-268	-226	-159	-188	-156	-333
Cash from Financing Activity	108	-22	-28	178	-25	-198	-248	-215	-64	-113	-106	-88
Net Cash Flow	-3	-4	1	-2	-0	2	-1	1	4	9	157	-167

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	84	86	81	93	93	70	60	71	80	72	82	89
Inventory Days	60	47	57	76	85	92	102	106	105	100	96	121
Days Payable	63	48	60	93	140	125	102	108	80	64	60	79
Cash Conversion Cycle	81	85	78	76	37	38	61	70	105	108	118	131
Working Capital Days	17	-2	-23	-20	-3	56	62	75	94	97	130	112
ROCE %	12%	12%	14%	9%	12%	19%	47%	27%	31%	24%	16%	10%

Shareholding Pattern
Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	45.71%	49.13%	49.13%	49.13%	49.13%	49.13%	49.24%	49.24%	49.24%	49.28%	49.28%	49.28%
FIIs	8.72%	7.72%	8.09%	6.47%	6.48%	6.72%	6.86%	6.68%	6.59%	6.64%	6.68%	6.21%
DIIs	13.75%	15.06%	15.61%	17.96%	18.87%	19.27%	21.20%	22.30%	23.22%	23.22%	22.61%	22.70%
Public	31.81%	28.10%	27.16%	26.45%	25.52%	24.87%	22.70%	21.79%	20.94%	20.84%	21.42%	21.82%