Deepak Nitrite Limited has informed the Exchange regarding 'DNL-Q3FY26ResultsPresentation'.
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Deepak Nitrite reported Q3 FY26 revenue of ₹1,983 Cr, up 3% year-on-year, with EBITDA rising 16% YoY to ₹219 Cr and PAT at ₹100 Cr. The Phenolics segment posted flat revenue of ₹1,334 Cr but a strong 20% YoY jump in EBIT to ₹145 Cr, driven by higher volumes. Advanced Intermediates revenue grew 18% YoY to ₹652 Cr, though EBIT fell 11% YoY to ₹15 Cr due to aggressive Chinese dumping and pricing pressure. Key positives include the commissioning of a Nitric Acid plant at Nandesari, completing the group's ammonia-nitration-amines vertical integration, and the US removing the 45.16% anti-dumping duty on Sodium Nitrite exports. However, 9M FY26 numbers remain weak, with EBITDA down 21% and PAT down 33% YoY. Management expressed optimism for a favorable Q4 FY26, citing new capacity ramp-ups, integration benefits, and improved US trade conditions.
Short-term, the stock may react positively to the better-than-expected Q3 EBITDA growth and easing of US trade barriers, but the sharp 33% drop in 9M PAT and continued pricing pressure in Advanced Intermediates cap the upside. Long-term, the vertical integration across the value chain and progress on the Polycarbonate project position the company for structurally higher margins when the chemical cycle turns.