Deepak Nitrite Explained

Deepak Nitrite Ltd
Type:Public
Traded As:
    Isin:INE288B01029
    Industry:Chemicals
    Founder:Chimanlal Khimchand Mehta
    Location City:Baroda, Gujarat
    Location Country:India
    Key People:
    • Deepak Chimanlal Mehta
      (Chairman & Managing Director)
    • Maulik Deepak Mehta (CEO)
    Revenue: (FY23)
    Net Income: (FY23)[1]
    Assets: (2020)[2]
    Subsid:Deepak Phenolics

    Deepak Nitrite Ltd. is an Indian chemical manufacturing company. The company’s manufacturing facilities are located at Nandesari and Dahej in Gujarat, Roha and Taloja in Maharashtra and Hyderabad in Telangana.[3] Deepak Nitrite produces a spectrum of chemicals, including agrochemicals, colourants, rubber, pharmaceuticals, speciality and fine chemicals.[4] Deepak Mehta is the chairman of the company and his son Maulik Mehta is the chief executive officer.[5]

    History

    The founder of the company Chimanlal Khimchand Mehta (father of Deepak Mehta) was the known chemical trader in Jain family of Gujarat. The company was incorporated in March 1970.[6]

    Sodium nitrite and nitrate plants were commissioned at Nadesari, Vadodara, Gujarat and production started in 1972. The plant produces chemicals like sodium nitrite, sodium nitrate and other allied chemicals, dyes, hexamethylene tetramine and dyes intermediates.[7]

    The company held its Initial public offering (IPO) in 1971. The IPO oversubscribed by 20 times.

    In 1984 company acquire Sahyadri Dyestuffs & Chemicals unit from Mafatlal Industries.[8]

    Company established Hydrogenation Plant at Taloja, Maharashtra in 1995.[9]

    The company acquired management and control of Aryan Pesticides Limited, Roha and DASDA Division of Vasant Chemicals, Telangana in 2003 and 2007 respectively.[10] [11]

    In 2015, The company promoted Deepak Phenolics Limited for the manufacturing of phenol & acetone at Dahej, Gujarat.[12] Deepak Phenolics is a subsidiary of Deepak Nitrate.[13] Deepak Phenolics manufactures pharmaceutical grade isopropyl alcohol (IPA) and acetone.[14] [15] The company is also planning on producing downstream products of phenol and acetone.[16]

    In 2021, Deepak Mehta stated that the company also has hydrogenation capabilities, and are also looking to add fluorination to their chemical offerings.[17]

    See also

    Notes and References

    1. News: Deepak Nitrite Ltd posts QoQ increase in Q4FY23 Consolidated net profit to Rs. 233.86 crores . 6 July 2023 . EquityBulls . 11 May 2023.
    2. Web site: Deepak Nitrite Share Price, Deepak Nitrite Stock Price, Deepak Nitrite Ltd. Stock Price, Share Price, Live BSE/NSE, Deepak Nitrite Ltd. Bids Offers. Buy/Sell Deepak Nitrite Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes. 2021-03-01. www.moneycontrol.com. en.
    3. News: Deepak Nitrite Ltd.. Business Standard India. live. 2021-03-01. https://web.archive.org/web/20210301182931/https://www.business-standard.com/company/deepak-nitrite-136/information/company-history. 2021-03-01.
    4. Web site: Deepak Nitrite: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Deepak Nitrite - NDTV. live. https://web.archive.org/web/20190827011402/https://www.ndtv.com/business/stock/deepak-nitrite-ltd_deepakntr/reports. 2019-08-27. 2021-03-06. www.ndtv.com. en.
    5. Web site: Deepak Mehta. live. https://web.archive.org/web/20210427152124/https://www.forbes.com/profile/deepak-mehta/?sh=7ce08f047e05. 2021-04-27. 2021-04-27. Forbes. en.
    6. Web site: Deepak Nitrite. live. https://web.archive.org/web/20210427152031/https://www.forbes.com/companies/deepak-nitrite/?sh=748443e3dd6e. 2021-04-27. 2021-04-27. Forbes. en.
    7. Web site: Deepak Nitrite History Deepak Nitrite Information - The Economic Times. live. https://web.archive.org/web/20210420140940/https://economictimes.indiatimes.com/deepak-nitrite-ltd/infocompanyhistory/companyid-13838.cms. 2021-04-20. 2021-04-20. economictimes.indiatimes.com.
    8. Web site: Deepak Nitrite. live. https://web.archive.org/web/20210427175633/https://www.bseindia.com/downloads/ipo/20173318579DEEPAK_NITRITE_PD.pdf. 2021-04-27. 2021-04-27. Bombay Stock Exchange.
    9. Web site: Deepak NItrite. live. https://web.archive.org/web/20210427172134/https://www.godeepak.com/wp-content/themes/twentysixteen/pdf/PC_Corporate_Presentation_Latest_29_June_2020.pdf. 2021-04-27. 2021-04-27.
    10. News: STANDARD. BUSINESS. 2002-09-06. Deepak Nitrite Takes Control Of Aryan Pesticides. Business Standard India. 2021-04-27.
    11. News: Bureau. Our Regional. 2006-08-25. Deepak Nitrite buys Vasant Chem's DASDA biz. Business Standard India. 2021-04-27. https://web.archive.org/web/20210427173811/https://www.business-standard.com/article/companies/deepak-nitrite-buys-vasant-chem-s-dasda-biz-106082500042_1.html. 2021-04-27.
    12. News: Deepak Nitrite Ltd.. Business Standard India. 2021-04-27.
    13. News: Press Trust of India . 2020-04-23 . Deepak Nitrite Subsidiary Deepak Phenolics Commences Commercial Production of IPA Used in Pharmaceuticals and Manufacturing of Sanitizers . Business Standard India . 2022-07-25.
    14. Web site: Deepak Nitrite Limited . 11 August 2020 . Deepak Nitrite reports a resilient performance amidst CoVID-19 uncertainties . 2022-07-25 . PR Newswire . en.
    15. Web site: Jauhari . Ujjval . 2021-08-25 . Deepak Nitrite sees improved prospects driven by phenolics . 2022-07-25 . mint . en.
    16. Web site: Deepak Nitrite Limited . 3 August 2021 . Deepak Nitrite Limited's PAT rises to 206% on a Y-o-Y basis . 2022-07-25 . PR Newswire . en.
    17. News: ET Now . 4 August 2021 . Aim to be most competitive player in chemical sector: Deepak Nitrite . The Economic Times . 2022-05-03.

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