Deepak Nitrite announced its Q2 FY26 results with consolidated revenues of INR 1,922 crore and EBITDA of INR 224 crore. The company inaugurated a new R&D center at Savli, focusing on innovation in chemistries and specialty applications. Deepak Nitrite is progressing with its mega complex for integrated polycarbonate production, supported by feedstock arrangements with Petronet LNG. The company aims to transition towards achieving 60% of energy consumption from renewable sources.
Financial Performance
Deepak Nitrite reported consolidated revenues of INR 1,922 crore for Q2 FY26. This represents a sequential increase compared to the previous quarter. The company’s EBITDA stood at INR 224 crore, reflecting a 5% sequential increase, with margins up by 100 basis points at 12%. Profit After Tax (PAT) reached INR 119 crore, up 6% from the previous quarter. For H1 FY26, revenue was INR 3,836 crore and EBITDA was INR 438 crore.
Segmental Highlights
Deepak Phenolics recorded revenue of INR 1,333 crore in Q2 FY26, a 2% sequential increase, with EBIT growing by 23% sequentially to INR 145 crore, yielding an EBIT margin of 11%. The Advanced Intermediates segment reported revenue of INR 588 crore with an EBIT of INR 23 crore, impacted by tariff actions and underpriced imports.
Strategic Developments
The company commenced its hydrogenation asset at Deepak Chem Tech on September 26, 2025, along with inaugurating its state-of-the-art research and development center at Savli, built with an investment of approximately INR 100 crore. Planned investments continue in a mega complex for India’s first integrated polycarbonate project, expecting operationalization of upstream products like Nitric Acid and downstream products like MIBK and MIBC in the following quarters.
Sustainability Initiatives
Deepak Nitrite is transitioning towards achieving 60% of its energy consumption from renewable sources and has already achieved a significantly reduced emission score in H1 FY26.
Projected Outlook
The company expects improved performance in the Advanced Intermediates segment, supported by better volumes for agrochemical-linked intermediates from Europe and enhanced contributions from upstream integration assets, expected to be fully operational in Q4 FY26. The Nitric Acid and MIBK/MIBC plants are anticipated to be commissioned soon, with the polycarbonate project remaining on track for future growth.
Source: BSE
