Deepak Fertilisers’ June-quarter profit more than doubles as chemicals margins expand

Deepak Fertilisers (ONUS) reported FY2024 Q1 revenue of ₹3,256.3 crore, up 22.5% year on year, while EBITDA rose 65% to ₹845.5 crore and the EBITDA margin widened to 25.96%. Technical-grade ammonium nitrate volumes fell 12% from a year earlier, but manufactured NPK fertiliser sales increased 4% year on year and 11% sequentially to 133 KT. The company said its two ongoing expansion projects—the Gopalpur TAN plant and the Dahej nitric acid plant—are 96% and 93% complete, respectively.