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Deepak Nitrite

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Deepak Nitrite Ltd
Company typePublic
ISININE288B01029
IndustryChemicals
Founded1970; 54 years ago (1970)
FounderChimanlal Khimchand Mehta[1]
Headquarters
Baroda, Gujarat
,
India
Key people
Products
RevenueIncrease ₹8,019 crore (US$960 million) (FY23)[2]
Increase ₹852 crore (US$100 million) (FY23)[2]
Total assetsIncrease ₹3,208 crore (US$380 million) (2020)[3]
SubsidiariesDeepak Phenolics
Websitewww.godeepak.com

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.[4] Deepak Nitrite produces a spectrum of chemicals, including agrochemicals, colourants, rubber, pharmaceuticals, speciality and fine chemicals.[5] Deepak Mehta is the chairman of the company and his son Maulik Mehta is the chief executive officer.[6]

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.[1]

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.[5][7]

The company held its Initial public offering (IPO) in 1971.[7] 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

References

  1. ^ a b c d "Deepak Nitrite". Forbes. Archived from the original on 27 April 2021. Retrieved 27 April 2021.
  2. ^ a b "Deepak Nitrite Ltd posts QoQ increase in Q4FY23 Consolidated net profit to Rs. 233.86 crores". EquityBulls. 11 May 2023. Retrieved 6 July 2023.
  3. ^ "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". www.moneycontrol.com. Retrieved 1 March 2021.
  4. ^ "Deepak Nitrite Ltd". Business Standard India. Archived from the original on 1 March 2021. Retrieved 1 March 2021.
  5. ^ a b "Deepak Nitrite: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Deepak Nitrite - NDTV". www.ndtv.com. Archived from the original on 27 August 2019. Retrieved 6 March 2021.
  6. ^ "Deepak Mehta". Forbes. Archived from the original on 27 April 2021. Retrieved 27 April 2021.
  7. ^ a b "Deepak Nitrite History | Deepak Nitrite Information - The Economic Times". economictimes.indiatimes.com. Archived from the original on 20 April 2021. Retrieved 20 April 2021.
  8. ^ "Deepak Nitrite" (PDF). Bombay Stock Exchange. Archived (PDF) from the original on 27 April 2021. Retrieved 27 April 2021.
  9. ^ "Deepak NItrite" (PDF). Archived (PDF) from the original on 27 April 2021. Retrieved 27 April 2021.
  10. ^ STANDARD, BUSINESS (6 September 2002). "Deepak Nitrite Takes Control Of Aryan Pesticides". Business Standard India. Retrieved 27 April 2021. {{cite news}}: |first= has generic name (help)
  11. ^ Bureau, Our Regional (25 August 2006). "Deepak Nitrite buys Vasant Chem's DASDA biz". Business Standard India. Archived from the original on 27 April 2021. Retrieved 27 April 2021. {{cite news}}: |last= has generic name (help)
  12. ^ "Deepak Nitrite Ltd". Business Standard India. Retrieved 27 April 2021.
  13. ^ Press Trust of India (23 April 2020). "Deepak Nitrite Subsidiary Deepak Phenolics Commences Commercial Production of IPA Used in Pharmaceuticals and Manufacturing of Sanitizers". Business Standard India. Retrieved 25 July 2022.
  14. ^ Deepak Nitrite Limited (11 August 2020). "Deepak Nitrite reports a resilient performance amidst CoVID-19 uncertainties". PR Newswire. Retrieved 25 July 2022.
  15. ^ Jauhari, Ujjval (25 August 2021). "Deepak Nitrite sees improved prospects driven by phenolics". mint. Retrieved 25 July 2022.
  16. ^ Deepak Nitrite Limited (3 August 2021). "Deepak Nitrite Limited's PAT rises to 206% on a Y-o-Y basis". PR Newswire. Retrieved 25 July 2022.
  17. ^ ET Now (4 August 2021). "Aim to be most competitive player in chemical sector: Deepak Nitrite". The Economic Times. Retrieved 3 May 2022.
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