Deepak Nitrite Q4FY22 PAT down -8.21% to Rs267.21 crore yoy on the back of 49% spike in raw material costs

5 May 2022 , 12:20 AM

Deepak Nitrite reported 27.96% growth in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs1,872.35 crore. On a sequential basis, revenues were higher for the quarter by 8.71%.

For the full year FY22, the revenues were higher by 56% at Rs6,802 crore. In terms of performance of verticals, the company saw a sharp growth in the sales revenues from the basic intermediate products and the performance products.

The sales growth of find and specialty chemicals as well as of phenolics was more subdued on yoy basis.

The consolidated net profit for Q4FY22 was down -8.21% at Rs267.21 crore while it was up on a sequential basis by 10.21%. This was largely triggered by a 49% spike in the raw material costs amidst supply chain constraints. In terms of operating performance, phenolics saw a sharp fall in operating profits, pulling down overall profits.

Basic intermediates and performance products saw as strong growth in profits while fine & specialty chemicals saw flat growth. Net margins stood at 14.27% in Q4FY22 quarter compared to 19.90% in Q4FY21. NPM was higher sequentially against 14.08% in Q3FY22.

Financial highlights for Mar-22 compared yoy and sequentially

	Deepak Nitrite
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 1,872.35	₹ 1,463.23	27.96%	₹ 1,722.27	8.71%
Net Profit (Rs cr)	₹ 267.21	₹ 291.11	-8.21%	₹ 242.46	10.21%
Diluted EPS (Rs)	₹ 19.59	₹ 21.27		₹ 17.78
Net Margins	14.27%	19.90%		14.08%