Deepak Nitrite Ltd. share price target

Hurt by planned shutdown of the phenol for two weeks coupled with moderation in global phenol prices, DNL's phenolics business posted over 13% drop in revenues last quarter, while crack spreads continued its moderation not least due to slowdown in global economic growth and subdued activity in Indian real estate and automobile sectors. EBIT margin as a consequence slid to 5.6% in Q2 compared to 11.8% in the preceding...

Deepak Nitrite's (DEN) base business continued on its robust growth momentum in Q2FY20, particularly driven by the stellar performance of the Performance Products (PP) segment.

Deepak Nitrite (DEN) recorded impressive growth during the quarter with 127% y-o-y and 4% sequential increase in revenues to INR 1,051 crore, ahead of our estimates by 3%.

We initiate coverage on Deepak Nitrite Ltd as a BUY with a price

Deepak Nitrite (DEN) recorded impressive growth during the quarter driven by its Performance Products and Basic Chemicals businesses

Propelled by higher off take of high margin products and firm overall realizations, revenues of Deepak's basic chemicals business rose by a satisfying 14.8%, in 9MFY19, a marked improvement from 7.3% reported last fiscal. Margins rose too - 15.9% Vs 13.9% but not without discernible fluctuations in margins over the last few quarters. Deepak's seemingly most potent fine & speciality chemicals business incredibly benefitted from higher volume growth - resulting from higher utilization and backward integration initiatives - in both domestic and overseas markets....

DNL holds a strong market position in India in several of its chosen niches within the chemical industry. DNL's inhouse R&D; has recently helped add successful new products to its line-up and a strong export...

Deepak Nitrite (DEN) delivered 22% revenue growth (2% above our expectations) led by strong performance in the specialty chemicals business.

Sluggish overall volume growth (5%) failed to scupper business growth for overall revenues surged by 19.4% in Q4 - markedly improved from 6.1% in Q1- and operating margin rose by some 30 bps. Striking increases in both interest (34.1%) and depreciation expenses (14.3%) scarcely put brakes on PBT - which rose by a stunning 46.5%. Yet post...

Deepak Nitrite (DEN) delivered 24% topline growth (9% above our expectations) led by optimal capacity utilisation in the basic chemicals business and normalisation of operations at its Roha unit (impa