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Motilal Oswal Report
Deepak Nitrite Ltd. is an intermediate chemical company, with a diversified business of basic chemicals, fine and specialty chemicals, and performance products.
To substitute imports, Deepak Nitrite started commercial production of phenol, acetone, and isopropyl alcohol in CY18 through Deepak Phenolics Ltd.
It has established itself as the most reliable player, with a domestic market share of ~65% in the first year itself.
Huge opportunities lie ahead for Deepak Phenolics as phenol plants in the U.S. are facing challenges.
China has also started importing phenols. Imports into India are seeing strong growth due to lack of supply and higher freight rates (expect domestic demand compound annual growth rate of 10-12%).
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