Deepak Nitrite (DEEPAKNTR) Q4 00/01 earnings summary

Executive summary

• Sales excluding excise rose to Rs 200.18 crore from Rs 174.28 crore, led mainly by 22% export growth; higher input costs and limited pass-through eroded margins.

• Net profit after tax fell to Rs 1,023.13 lacs from Rs 1,130.34 lacs; profit on sale of Mumbai commercial premises of Rs 746.46 lacs supported results.

Financial highlights

• Sales and other income increased to Rs 212.01 crore from Rs 177.68 crore; sales excluding excise reached Rs 200.18 crore versus Rs 174.28 crore.

• Gross profit before interest, depreciation and tax was Rs 2,913.00 lacs versus Rs 2,848.29 lacs; PBT was Rs 1,113.13 lacs versus Rs 1,262.84 lacs.

• PAT was Rs 1,023.13 lacs versus Rs 1,130.34 lacs; EPS was Rs 17.79 versus Rs 19.66.

Outlook and guidance

• Plans include new products building on core expertise, upward integration of existing products and exclusive products developed with overseas customers.

• Benefits from Taloja’s second hydrogenation stream and higher-value products under development are expected in coming years as markets are established.