Deepak Nitrite Limited: History, Latest Updates, Milestones, Subsidiaries & Share Price
Introduction
Deepak Nitrite Limited, a prominent player in the Indian chemical manufacturing segment. Deepak Nitrite Limited was founded in 1975, is headquartered at Vadodara, Gujarat, India. Deepak Nitrite Limited produced diversified chemical products from basic and fine chemicals, phenolics, colourants, pharmacy products, agriculture-based chemicals etc...Deepak Nitrite Limited has strong international presence over 30 countries through product exports. Deepak Nitrite Limited strategize its business through product diversification, manufacturing high margin chemicals and efficient operations.
Deepak Nitrite Limited Moves In 2024
Deepak Nitrite Share Price for the month of June was Rs. 2501.95
Deepak Nitrite Limited has announced a dividend of Rs.7.50 per share.
Deepak Nitrite Limited has made plans to acquire Narmada Thermal Power and agreed to acquire OXOC Chemicals Limited at an acquisition price of Rs.0.1 million.
Deepak Nitrite Share Price for the month of May was Rs. 2191.30
Deepak Nitrite's board has approved fundraising of Rs.2,000 crore.
The Deepak Phenolics team has received the Gold Award from the Quality Circle Forum of India.
Deepak Chem Tech Limited has started its first fluorination process plant located in Gujarat.
Deepak Nitrite Share Price for the month of April was Rs. 2430.55
Deepak Nitrite Limited has appointed Mr. Anil Khatri as business head for specialties chemicals
Deepak Nitrite Share Price for the month of March was Rs. 2125.50
Deepak Chem Tech Limited has started its first Fluorination process plant at Gujarat.
Deepak Nitrite Share Price for the month of February was Rs. 2121.85
Deepak Nitrite Limited reported its fourth quarter FY2024 results on March 31, 2024. As reported, the sales of the company were Rs.21262 million , net income was Rs.2538 million and EPS was Rs.18.61. The quarter results are in uptrend when compared to previous year results.
Deepak Nitrite Share Price for the month of January was Rs. 2305.90
Evolution Of Deepak Nitrite Limited: From Past to Present
|
Year |
Evolution |
|
1970 |
Incorporation of Deepak Nitrite Limited |
|
1972 |
Launch of Plants to manufacture sodium nitrite and sodium nitrate at Gujarat. |
|
1984 |
Acquired Mafatlal’s Sahyadri Dyestuffs & Chemicals Unit |
|
1995 |
Launch of plant for hydrogenation process at Maharashtra. |
|
2003 |
Acquired Aryan Pesticides Limited |
|
2007 |
Acquired DASDA unit of Vasant Chemicals |
|
2015 |
Launched its subsidiary Deepak Phenolics Limited |
|
2018 |
Started manufacture of phenols and acetones. |
|
2020 |
Deepak Phenolics Limited produced important chemicals like IPA and acetone during COVID to meet the need for sanitizer |
|
2021 |
Introduced fluorination process |
|
2022 |
Introduced photochlorination process. |
|
2023 |
Started exporting of its chemicals overseas |
Deepak Nitrite Limited Company Information
|
Company Information |
|
|
Name |
Deepak Nitrite Limited |
|
Founded year |
1970 |
|
Founder |
Mr. Chimanlal Khumchand Mehta |
|
Headquarters |
Baroda, Gujarat, India |
|
Industry |
Chemicals |
|
Chairman |
Mr. Deepak Chimanlal Mehta |
|
Subsidiary |
Deepak Phenolics Limited Deepak Nitrite Corporation, Inc (USA) Deepak Novochem Technologies Limited |
|
Revenue |
Rs. 8019 crore FY2023 |
|
Net Income |
Rs. 852 crore FY2023 |
|
NSE code |
NSE:DEEPAKNTR |
|
BSE code |
BSE: 506401 |
Inside Deepak Nitrite Limited
Main News
Deepak Nitrite Limited reported its fourth quarter FY2024 results on March 31, 2024. As reported, the sales of the company were Rs.21262 million , net income was Rs.2538 million and EPS was Rs.18.61. The quarter results are in uptrend when compared to previous year results.
Corporate Action
Deepak Nitrite Limited has announced a dividend of Rs.7.50 per share.
Deepak Chem Tech Limited has signed a MoU with Gujarat Government and Deepak Phenolics Limited has signed a MoU with Petronet LNG Limited.
Deepak Nitrite Share Price Today
|
Company Name |
Sector |
Share Price Link |
|
Deepak Nitrite Limited |
Chemicals |
Milestones of Deepak Nitrite Limited
|
Year |
Milestones |
|
1970 |
Incorporation of Deepak Nitrite Limited by Mr. Chimanlal Khimchand Mehta |
|
1971 |
Conducted IPO with oversubscription by 20 times more on BSE |
|
1972 |
Started producing Sodium Nitrate , Sodium Nitrite, Dyes at Gujarat. |
|
1984 |
Acquired Sahyadri Dyestuffs & Chemicals Unit from Mafatlal Industries |
|
1992 |
Started Nitro Aromatic Plant at Gujarat |
|
1995 |
Started hydrogenation plant at Maharashtra |
|
2003 |
Acquired Aryan Pesticides Limited |
|
2007 |
Acquired DASDA Division of Vasant Chemicals |
|
2015 |
Started Deepak Phenolics Limited at Gujarat |
|
2016 |
Raised fund of Rs. 83 crores , Rs. 150 crores and one more Rs. 150 crores through Qualified Institutional Buyers |
|
2018 |
Started producing phenol ad acetone plant. |
|
2019 |
Achieved Rs.2000 crore revenue |
|
2020 |
Deepak Phenolics Limited started manufacturing IsoPropyl Alcohol for sanitizer |
|
2021 |
Started Fluorination Plant |
|
2022 |
Started Photochlorination plant |
|
2023 |
Started exporting chemicals |
Deepak Nitrite Limited Awards & Achievements
Deepak Nitrite Limited has won an award for Excellence at National Convention on quality concepts.
Deepak Nitrite Limited has won seven gold awards for case study on safety at the National Safety Convention.
Deepak Nitrite and Phenolics together have won awards at Quality ICQCC Conference.
Deepak Chem Tech Limited has won the quiz competition conducted by IIMM, Vadodara.
SRF Limited has appreciated Deepak Nitrite Limited for its Support and meeting supply commitments in an exceptional manner.
Burgundy Hurun India has recognized Deepak Nitrite Limited as India's Most valued 500 companies.
Conclusion
Deepak Nitrite Limited has expanded its production capacity, focuses on sustainability and invests in R&D to meet the growing demands for its products, minimizing environmental hazards, and catering to customer needs.
Deepak Nitrite, a prominent producer of sodium nitrate and sodium nitrite , one of India's largest producers of Phenols and acetone , leading top 3 global players with 6 manufacturing facilities and exporting its products to more than 45 countries.
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Frequently Asked Questions
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What will be the target for Deepak Nitrite Share Price in 2024?
Deepak Nitrite share price target for the year 2024 would be between Rs. 2320 and Rs.2480 .For real-time insights into the future of Deepak Nitrite Share Price, visit Enrich Money
