Deepak Nitrite Q2 results were a big swing in the right direction. The chemicals maker’s consolidated net profit for July-September more than tripled to about ₹398 crore from ₹118.7 crore a year ago, and revenue rose 61.7% year-on-year to ₹3,076 crore, CNBC-TV18 reported on Thursday, October 29.
The more telling number is the margin. EBITDA, or operating profit, jumped to ₹627 crore from ₹204.3 crore, and the EBITDA margin (operating profit as a share of revenue) nearly doubled to 20.4% from 10.7% in the year-ago quarter.
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Deepak Nitrite Q2 results: the key numbers
- Net profit: ₹397.68 crore, against ₹118.75 crore in Q2 FY26 and ₹345.01 crore in Q1 FY27, so up 15.3% on the previous quarter.
- Revenue from operations: ₹3,076.37 crore, against ₹1,901.89 crore a year ago and ₹2,577.60 crore in Q1, a 19.4% sequential rise.
- Profit before tax: ₹542.70 crore, against ₹163.03 crore a year earlier.
- Basic EPS: ₹29.16, against ₹8.71 a year ago and ₹25.30 in Q1.
These exact figures come from the unaudited consolidated results the company filed with BSE, as summarised by the Free Press Journal.
Where the growth came from
Phenolics did the heavy lifting. That segment reported quarterly revenue of ₹2,291.09 crore and a segment result (before tax and interest) of ₹515.43 crore. The Advanced Intermediates segment brought in ₹810.82 crore of revenue but only ₹48.76 crore of segment result. Put simply, the bulk of the segment profit came from phenolics.
There was some help from the government too. The company booked ₹49.38 crore of incentive income in the quarter, up from ₹16.46 crore a year earlier. That’s real money, but it’s small next to a pre-tax profit of ₹542.70 crore, so it doesn’t explain the jump on its own.
The half-year picture is just as strong. For April-September, consolidated net profit came in at ₹742.69 crore versus ₹231.01 crore a year ago, while revenue from operations rose 49.1% to ₹5,653.97 crore.
On capacity, Deepak Nitrite said on September 29 that its wholly owned subsidiary Deepak Chem Tech had started manufacturing at its chlorination and specialty chemicals plant in Dahej, Gujarat, having spent roughly ₹300 crore of capex by the start of production, according to CNBC-TV18.
How the stock has been doing
The market hasn’t been kind to the stock this year. Shares ended 0.81% lower at ₹1,476.40 on the NSE on Thursday, are down 3.6% over the past month and are down 13.3% so far in 2026, per CNBC-TV18. Friday’s session will show how investors price this set of numbers.
What it means
We’d read this quarter as a margin recovery story first and a volume story second. A doubling of EBITDA margin on 62% revenue growth is the kind of combination that changes earnings estimates. The questions for the next few quarters are whether phenolics spreads hold, whether Advanced Intermediates can pull more weight, and how quickly the new Dahej plant adds to revenue. If you want a step-by-step way to read a results release like this one, our guide on how to analyse quarterly results of a company is a good start. For another big set of Thursday numbers, see our take on Laurus Labs’ Q2 results.
Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.
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