Mehta expects mining and infra activities to pick up post monsoon
The demand outlook for the Crop Nutrition, Mining Chemicals, and Industrial Chemicals Business is well aligned with India’s growth story, providing strong and positive tailwinds, says Sailesh C. Mehta, Chairman & Managing Director, Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL).
“The mining and infrastructure activities are expected to pick up post monsoon as demand for Power (Coal), Cement & Steel is expected to increase thereby providing robust support for Technical Ammonium Nitrate (TAN) demand,” he said on 2 Nov, releasing the latest financial report for quarter ended 30 Sept 2024.
For Nitric Acid, the demand and margins are expected to be stable over the next few quarters. Propylene-based IPA demand and margins are expected to be stable and improve, said Mehta https://www.bseindia.com/.
Overall, as India prospers, the chemical and fertilizer sectors are poised to thrive, he stressed https://www.nseindia.com/.
Mehta said DFPCL has shown impressive performance in Q2 FY25, achieving a 13% growth in revenue. This growth was primarily driven by the Crop Nutrition business, which experienced an 18% YoY increase in revenue, while the Chemical business grew by 8% YoY despite a lean quarter for the chemical sectors. Fertilizer and Chemical businesses acted as a natural hedge, enabling the company to deliver consistent and improved performance https://fieo.org/.
Q2FY25 EBITDA was Rs.494 crore, up 73% on Rs.286 crore from the same quarter a year ago https://sbi.com.in/.
H1FY25 EBITDA was Rs.959 crore, up 69% from Rs.567 crore from the first half of last financial year https://www.conexpoconagg.com/.
Net profit for Q2FY25 was Rs.214 crore, up 237% from Rs.63 crore for same quarter a year ago. H1FY25 net profit rose 134% to Rs.414 crore from Rs.177 crore https://www.conexpoconagg.com/. Fiinews.com
