Deepak Fertilisers & Petrochemicals Corp Ltd
Deepak Fertilisers & Petrochemicals Corp Ltd
ChemicalsKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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58 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 18.1%
Weaknesses
3- Stock is trading at 2.77 times its book value
- Company has a low return on equity of 11.4% over last 3 years.
- Company might be capitalizing the interest cost
Growth Rate
AI Analysis — Bull vs Bear
Deepak Fertilisers & Petrochemicals (market cap ₹18,390 Cr, PE 18.6x) is a diversified chemicals and fertilisers company showing TTM sales growth of 14% but flat profit growth, with a 3-year ROE of 11% and elevated leverage at net debt/EBITDA of ~2.86x. The company is in the midst of a capital-intensive expansion phase with ₹1,569 Cr CapEx in FY26, while specialty and value-added products are gaining share in its revenue mix.
- TTM revenue growth of 14% signals improving demand, with FY26 full-year revenue reaching ~₹11,506 Cr reflecting 12% YoY growth
- Mining chemical volumes grew 11% for FY26 full year and 27% sequentially in Q4, indicating strong operational momentum in a key segment
- Specialty and Croptek products now contribute 33% of crop nutrition revenue (up from 30% prior year), driving margin-accretive mix shift
- B2C share in TAN (Technical Ammonium Nitrate) revenue rose to 16% from 13%, reducing dependence on cyclical bulk pricing
- 10-year compounded profit CAGR of 25% and 10-year stock CAGR of 25% demonstrate long-term value creation track record
- 5-year compounded sales CAGR of 15% and profit CAGR of 12% show sustained top-line and bottom-line expansion over medium term
- Company maintains consistent dividend payout of 18.1% providing shareholders a yield of 0.69%
- PE of 18.6x is reasonable for a chemicals company in active capacity expansion mode with improving product mix
- 3-year compounded profit CAGR is negative at -16%, indicating significant earnings decline from the FY22 cycle peak
- Net debt stands at ₹4,824 Cr with net debt/EBITDA at 2.86x, reflecting elevated leverage during capex phase
- 3-year ROE of only 11% is below cost of equity for most investors, and FY26 EPS fell to ₹58.4 from ₹74.0 in FY25 — a 21% decline
- Stock trades at 2.68x book value despite sub-par return on equity of 11.4%, suggesting limited margin of safety
- Company may be capitalizing interest costs, which could overstate reported profitability and asset quality
- CapEx of ₹1,569 Cr in FY26 creates execution risk and will keep free cash flow constrained in the near term
- TTM profit growth is flat at 0% despite 14% revenue growth, indicating margin compression from input cost inflation and operational disruptions
- Exposure to subsidy delays, LPG/LNG shortages, and export bans introduces policy and supply-chain risk that is difficult to hedge
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Record Q1FY27 EBITDA and PAT Aug 6
Q1FY27 EBITDA hit a record ₹845 crore with PAT of ₹490 crore (up 101% YoY). Revenue rose 22% YoY to ₹3,256 crore while net debt improved to 1.4x as LNG integration benefits emerged.
- FY26 revenue up 12% YoY Aug 9
Consolidated FY26 revenue reached ₹11,506 crore (up 12% YoY) with Operating EBITDA of ₹1,684 crore and PAT of ₹739 crore. A ₹10 per share dividend was declared.
- Improved ESG metrics in FY26 Aug 9
BRSR report filed on August 9 highlights ~2% reduction in GHG emission intensity and zero lost-time injuries for FY26.
- ₹10 dividend and board changes Aug 9
46th AGM set for September 1, 2026, with ₹10 dividend recommendation, appointment of Yeshil Mehta to Board, and re-appointment of auditors P G Bhagwat LLP for a second five-year term.
- August investor conference participation Aug 7
Company will attend EMKAY Confluence 2026 and Motilal Oswal Global Investor Conference in Mumbai this August.
- Q1FY27 earnings call scheduled Jul 20
Earnings conference call was held on July 31, 2026, with Chairman and CFO participating to discuss Q1FY27 results.
TL;DR: Deepak Fertilisers is delivering strong growth with record Q1FY27 profitability (PAT up 101%), robust FY26 top-line expansion of 12%, and improving leverage at 1.4x net debt. No material headwinds are visible in recent news flow. LNG integration is driving margin expansion and the trend is clearly improving heading into FY27.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,313 | 2,424 | 1,853 | 2,086 | 2,281 | 2,747 | 2,579 | 2,667 | 2,659 | 3,006 | 2,830 | 3,011 | 3,256 |
| Expenses | 2,032 | 2,138 | 1,570 | 1,648 | 1,817 | 2,253 | 2,093 | 2,187 | 2,146 | 2,542 | 2,477 | 2,657 | 2,411 |
| Operating Profit | 281 | 286 | 282 | 438 | 464 | 494 | 486 | 480 | 513 | 464 | 353 | 354 | 845 |
| OPM % | 12% | 12% | 15% | 21% | 20% | 18% | 19% | 18% | 19% | 15% | 12% | 12% | 26% |
| Other Income | 20 | 19 | 11 | 72 | 12 | 7 | 13 | 50 | 24 | 27 | 46 | 6 | 6 |
| Interest | 79 | 107 | 106 | 112 | 111 | 103 | 98 | 101 | 88 | 75 | 96 | 93 | 95 |
| Depreciation | 59 | 81 | 91 | 102 | 95 | 100 | 100 | 109 | 103 | 106 | 108 | 106 | 105 |
| PBT | 162 | 117 | 97 | 296 | 270 | 299 | 301 | 320 | 345 | 310 | 195 | 161 | 651 |
| Tax % | 30% | 46% | 37% | 22% | 26% | 28% | 16% | 13% | 29% | 31% | 27% | 13% | 25% |
| Net Profit | 114 | 63 | 61 | 230 | 200 | 214 | 253 | 278 | 244 | 214 | 141 | 139 | 490 |
| EPS in Rs | 8.72 | 4.76 | 4.56 | 17.83 | 15.49 | 16.64 | 19.86 | 21.96 | 19.26 | 16.89 | 11.21 | 11.04 | 38.82 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,808 | 4,309 | 4,150 | 5,995 | 6,742 | 4,685 | 5,808 | 7,663 | 11,301 | 8,676 | 10,274 | 11,506 | 12,104 |
| Expenses | 3,512 | 3,952 | 3,676 | 5,451 | 6,285 | 4,221 | 4,848 | 6,307 | 9,135 | 7,389 | 8,350 | 9,821 | 10,087 |
| Operating Profit | 297 | 358 | 474 | 544 | 457 | 465 | 961 | 1,356 | 2,165 | 1,287 | 1,925 | 1,685 | 2,016 |
| OPM % | 8% | 8% | 11% | 9% | 7% | 10% | 17% | 18% | 19% | 15% | 19% | 15% | 17% |
| Other Income | 37 | 71 | 13 | 23 | 54 | 95 | 27 | 44 | 84 | 123 | 81 | 102 | 85 |
| Interest | 111 | 130 | 121 | 173 | 229 | 243 | 188 | 155 | 195 | 404 | 413 | 353 | 359 |
| Depreciation | 124 | 122 | 135 | 163 | 171 | 214 | 212 | 233 | 239 | 334 | 403 | 424 | 425 |
| PBT | 98 | 177 | 230 | 230 | 110 | 103 | 588 | 1,013 | 1,816 | 672 | 1,189 | 1,010 | 1,316 |
| Tax % | 32% | 34% | 33% | 29% | 33% | 14% | 31% | 32% | 33% | 30% | 21% | 27% | — |
| Net Profit | 67 | 116 | 155 | 164 | 73 | 89 | 406 | 687 | 1,221 | 468 | 945 | 739 | 985 |
| EPS in Rs | 6.71 | 11.47 | 15.22 | 16.04 | 6.97 | 8.5 | 38.99 | 56.24 | 95.86 | 35.87 | 73.95 | 58.4 | 77.96 |
| Div. Payout % | 52% | 38% | 34% | 33% | 37% | 31% | 19% | 16% | 10% | 24% | 14% | 17% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 88 | 88 | 88 | 88 | 88 | 89 | 103 | 121 | 126 | 126 | 126 | 126 |
| Reserves | 1,384 | 1,439 | 1,928 | 1,958 | 2,010 | 2,092 | 2,600 | 3,764 | 4,941 | 5,416 | 6,110 | 6,718 |
| Borrowings | 1,384 | 1,970 | 2,013 | 3,532 | 3,032 | 3,015 | 2,593 | 2,656 | 3,699 | 4,149 | 4,152 | 5,670 |
| Other Liabilities | 584 | 957 | 1,019 | 1,413 | 1,988 | 1,735 | 1,865 | 2,204 | 2,655 | 2,226 | 2,516 | 3,766 |
| Total Liabilities | 3,440 | 4,454 | 5,048 | 6,991 | 7,118 | 6,931 | 7,161 | 8,744 | 11,421 | 11,917 | 12,905 | 16,281 |
| Fixed Assets | 1,384 | 1,317 | 2,056 | 2,189 | 2,209 | 2,712 | 2,621 | 2,644 | 2,678 | 6,258 | 6,292 | 6,151 |
| CWIP | 152 | 396 | 385 | 654 | 1,370 | 1,310 | 1,619 | 2,428 | 3,528 | 754 | 1,408 | 3,053 |
| Investments | 253 | 72 | 154 | 388 | 252 | 12 | 449 | 879 | 600 | 261 | 186 | 133 |
| Other Assets | 1,651 | 2,668 | 2,453 | 3,761 | 3,286 | 2,897 | 2,472 | 2,794 | 4,615 | 4,644 | 5,018 | 6,944 |
| Total Assets | 3,440 | 4,454 | 5,048 | 6,991 | 7,118 | 6,931 | 7,161 | 8,744 | 11,421 | 11,917 | 12,905 | 16,281 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -54 | -110 | 796 | -132 | 1,310 | 578 | 1,248 | 1,211 | 493 | 732 | 1,880 | 206 |
| Investing | -189 | -62 | -840 | -1,139 | -576 | -156 | -634 | -1,430 | -979 | -376 | -1,062 | -1,559 |
| Financing | 205 | 330 | -81 | 1,269 | -737 | -354 | -613 | 221 | 604 | -410 | -689 | 1,376 |
| Net Cash Flow | -38 | 157 | -125 | -1 | -3 | 69 | 1 | 3 | 118 | -54 | 129 | 24 |
| Free Cash Flow | -213 | -458 | 51 | -1,073 | 588 | 227 | 1,014 | 222 | -716 | -94 | 763 | -1,363 |
| CFO/OP | -8 | -22 | 179 | -12 | 293 | 128 | 148 | 113 | 48 | 81 | 120 | 28 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 91 | 131 | 115 | 120 | 76 | 99 | 58 | 30 | 55 | 62 | 57 | 74 |
| Inventory Days | 51 | 66 | 63 | 62 | 57 | 75 | 61 | 76 | 60 | 74 | 58 | 79 |
| Days Payable | 30 | 51 | 54 | 73 | 102 | 143 | 124 | 103 | 85 | 80 | 94 | 98 |
| Cash Conversion Cycle | 112 | 146 | 124 | 108 | 30 | 32 | -5 | 3 | 30 | 56 | 22 | 55 |
| Working Capital Days | 5 | 4 | -50 | -72 | -32 | -28 | -17 | -18 | 15 | 20 | 2 | 30 |
| ROCE % | 7% | 8% | 9% | 8% | 6% | 5% | 14% | 19% | 25% | 11% | 16% | 11% |
Documents
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Company Information
Incorporated in 1979, Deepak Fertilisers and Petrochemicals Corporation Ltd is in the business of fertlisers, agri services, bulk chemicals, mining chemicals and real estate[1]