Deepak Nitrite (DEEPAKNTR) Q4 25/26 earnings summary

Executive summary

• Delivered strong Q4 FY26 results with revenue of ₹2,127 crore, up 7% sequentially, and EBITDA of ₹383 crore, up 74% sequentially, despite global supply chain disruptions, geopolitical tensions, and market volatility.

• FY26 consolidated revenue was ₹7,947 crore, with EBITDA at ₹1,041 crore and PAT at ₹551 crore; operational resilience was supported by process enhancements, cost efficiencies, and supply chain integration.

• Maintained a robust domestic-to-export revenue mix (86:14), reflecting resilience in the Indian market while sustaining export engagement.

• Strategic focus on innovation, integration, and expansion into high-value sectors and new geographies.

• Audited standalone and consolidated financial results for FY26 were approved, with auditors issuing an unmodified opinion.

Financial highlights

• Q4 FY26 consolidated revenue: ₹2,127 crore (up 7% sequentially, down from ₹2,202 crore YoY); EBITDA: ₹383 crore (up 74% sequentially, up 13% YoY); PAT: ₹220 crore (up 120% QoQ, up 9% YoY); EPS for Q4 at ₹16.11.

• FY26 consolidated revenue: ₹7,947 crore; EBITDA: ₹1,041 crore; PAT: ₹551 crore; EPS at ₹40.36.

• FY26 consolidated revenue and PAT declined year-over-year; revenue at ₹7,887.07 crore and net profit at ₹550.66 crore.

• Board recommended a final dividend of ₹7.5 per share for FY26, totaling ₹102.29 crore.

• Foreign exchange gains of ~₹12 crore recorded in FY26.

Outlook and guidance

• Q1 FY27 expected to be better than Q4 FY26, with further improvement anticipated in both standalone and consolidated performance.

• Cautious optimism for export markets; focus on innovation, new product development, and expanding presence.

• Strategic investments in polycarbonate and downstream chemistry projects progressing on schedule, supporting long-term growth and margin improvement; polycarbonate project on track for 2028 commissioning.

• The Board and management assessed the impact of India's new Labour Codes, making provisions for related costs as exceptional items.