Deepak Fertilisers doubles Q1 profit as chemical-led margin gains lift EBITDA
AI Market Summary
Deepak Fertilisers reported strong FY2024 Q1 results with revenue up 22.5% y/y and EBITDA up 65%, lifting margin to 25.96% despite lower technical ammonium nitrate volumes. NPK compound fertiliser volumes rose, and two major capacity projects are near completion, supporting future output visibility. The news is positive for the company, but has limited broader cross-asset impact.
Impact level
● Low
Affected assets
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Deepak Fertilisers (ONUS) reported strong Q1 FY2024 results, with revenue rising 22.5% year on year to INR 32.563 billion. EBITDA jumped 65% to INR 8.455 billion, lifting the EBITDA margin to 25.96%. Technical-grade ammonium nitrate volumes fell 12% from a year earlier, while NPK complex fertiliser volumes increased 4% year on year and 11% sequentially to 133,000 tonnes. The company said two key capex projects remain on track, with the Gopalpur TAN plant 96% complete and the Dahej nitric acid plant at 93% completion.
