Deepak Nitrite Q4 Review - Improved Growth Visibility: Systematix
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Systematix Research Report
Deepak Nitrite Ltd.'s Q4 FY21 performance exceeded our expectation as the utilisation rate at Deepak Phenolics was 130% against our estimate of 115%.
Phenol utilisation was backed by a turnaround in domestic user industries and export demand.
Overall revenue/Ebitda/profit after tax grew 39%/73%/68% to Rs 14.6 billion/Rs 4.5 billion/Rs 2.9 billion.
Revenues were supported by growth across segments, barring performance product which remained subdued due to a drop in prices during Q1 FY21.
Profitability was driven by better phenol prices and higher utilisation.
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