Deepak Nitrite shows resilience with Q2 revenue and EBITDA growth

Deepak Nitrite Limited announced consolidated revenues of INR 1,922 crore for Q2 FY26, a quarter-on-quarter increase, accompanied by a 5% sequential rise in consolidated EBITDA to INR 224 crore. Margins improved by 100 basis points to 12%. For H1 FY26, revenue stood at INR 3,836 crore, with EBITDA at INR 438 crore and margins at 11%. The company's Phenolics business saw a 2% sequential revenue growth to INR 1,333 crore, with EBIT improving by 23% to INR 145 crore, while the Advanced Intermediates segment faced headwinds, reporting INR 588 crore in Q2 revenue and INR 23 crore in EBIT.

The company highlighted the commencement of its hydrogenation asset at Deepak Chem Tech, an investment of INR 118 crore, and the inauguration of a state-of-the-art R&D center at Savli, built with an investment of INR 100 crore. These initiatives, along with planned upstream integration projects like Nitric Acid and downstream products like MIBK and MIBC, are expected to enhance competitiveness and support sustainable growth. The polycarbonate project is on track for completion by March 2028, with total CAPEX outlay for the next three years projected between INR 3,000 crore and INR 4,000 crore.