Depend on Deepak

Depend on DEEPAK

Our integrated vision for Deepak’s stakeholders

In our 50 years of operations, we have created a robust organisation with processes and systems that ensure seamless operations alongside focus on ethics and transparent practices, with a team of skilled and motivated people who are ready to step up and take charge, coupled with deep capabilities to deliver on the needs of our customers.

More importantly, having enduring relationships at its core, built on the tenets of trust, faith and values which ensures our lasting success and future value creation.

The result of these was reflected in the challenging FY 2020-21.


Growth in Consolidated PAT in FY20


Growth in consolidated PAT in FY21


Growth in consolidated EBITDA in FY20


Growth in consolidated EBITDA in FY21


In FY 20 consolidated – Net Debt : Equity


Lower Net Debt : Equity in FY21


Growth in Market Capitalisation in FY20


Growth in market capitalisation in FY21

Not only did we delivere a resounding performance, but also reinforced the trust that our stakeholders have placed on us while enduring our values.

We moved with agility and responsiveness to collaborate with our customers and ensure timely deliveries. We supported employees and business partners by taking care of their health and safety and ensuring timely payments, who in turn rallied to drive operational excellence.

Our sustained efforts translate into comprehensive sustainability and position us attractively in the industry to grow and deliver more value to stakeholders. We can confidently tell our stakeholders to depend on us.

Deepak Nitrite is founded on five key attributes – agility, innovativeness, responsiveness, ownership and Outcomes-driven. They guide our strategy and actions towards delivery of long-term growth and help strengthen our reputation as a trusted and responsible company that is committed to its stakeholders. Our unflinching focus on these attributes in a world disrupted by COVID-19 ensured value creation and delivery to all stakeholders.

How we ensured the interests of key stakeholders around the five business attributes

  • Agility


    • Nearby residential places were rented as COVID bubble to ensure safety of critical manpower Innovativeness
    • Cross-functional team to quickly disseminate and share learning on safe manufacturing practices
    • Pre-emptively tied up logistic contracts and port storage facilities in anticipation of supply chain constraints
    • Collaboratively addressed customer schedules to ensure full pipeline of materials
    • Developed business continuity protocols for all products and plant to ensure optimum performance
    • Strong focus on improving ROCE during the period of relative volatility in the industry
  • Innovativeness


    • Use of digital solutions to keep teams connected
    • Virtual training
    • Use of virtual meetings to ensure constant engagement
    • Swapped credit-based raw material purchase for discounted prices to avail net costs
    • Vendor managed inventory to mitigate supply risks to key customers
    • Enhanced transparency and reporting by developing micro-sites version of Annual Report
    • Committed ~ Rs. 300 Crores as a first tranche into new products for agrochemical and pharmaceutical intermediates
    • Initiated building a world-class Technology Centre to support vision of strategic growth
  • Responsiveness


    • Additional safety measures
    • Responsibility for vaccinating employees and spouses
    • Non-COVID related death has also been included Death in Harness policy for securing families of the employees
    • Wellness sessions with specialists for stress and trauma counselling
    • Various virtual courses created for upscaling of employees sharpness
    • Operated all plants as per government mandate to fulfill 100% order obligations
    • Increased wallet share by offering bespoke options
    • Plan to increase R&D spent by about two times
    • Reduce lead time to 48 hours to address customer queries and update
    • Pre-emptive updates on supply chain issues beyond the Company’s control
    • Maximised plant utilisation to meet demand
    • Reduced debt sizeably to arrive at gearing ratio of 0.15x
    • Fast-tracked capex to double IPA capacity which will help grow both topline and bottomline
    • Brown field expansions that offer high IRR and low risks taken up for multiple products
  • Ownership


    • Project and technical team rallied to commission IPA facility during lockdown

    • Ensured took ownership in ensuring
      that supplies to Customers remain uninterrupted during pandemic
    • Process before product focus
    • Optimum Equipment Efficiency (OEE) and asset integrity
    • Enhancement of QA and QC
    • Target TFS score of 90% and above at all plant locations by end of FY 2021-22
    • Paying regular returns by way of dividend
    • Insurance cover provided to Shareholders
    • Focus on balanced financial prudence with a mix of new opportunities and resilience building using Deepak’s Right to Win template
  • Outcome-driven


    • Employees were given annual increments, performance incentives, bonuses and special financial incentives

    • Meeting Customer requirements with top notch quality defying all kinds of hindrances
    • Develop medium-term anchor customers for key products

    • Recommended a dividend of 275% including 50% special dividend on the occasion of Golden Jubilee Year
    • Improved Long-Term and Short-Term credit rating from ICRA and CRISIL


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