Stock 506401 DEEPAK NITRITE LIMITED
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Financials Deepak Nitrite Limited

Equities

506401

INE288B01029

Commodity Chemicals

Market Closed - Bombay S.E.
Other stock markets
 06:00:49 2024-04-29 am EDT 		5-day change 1st Jan Change
2,443 INR -1.44% Intraday chart for Deepak Nitrite Limited +6.16% -1.60%
Mar. 30 Deepak Nitrite Limited Approves the Appointment of Shri Anil Khatri as Business Head - Specialties (Effect Chemicals) CI
Mar. 21 Deepak Nitrite Unit Commences Operations of Fluorination Plant MT

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 37,454 52,730 225,996 306,086 251,284 333,160 - -
Enterprise Value (EV) 1 48,445 62,832 231,022 304,451 251,284 334,943 336,239 341,128
P/E ratio 21.6 x 8.63 x 29.1 x 28.7 x 29.5 x 42.9 x 33 x 27 x
Yield 0.73% 1.16% 0.27% 0.31% 0.41% 0.29% 0.34% 0.41%
Capitalization / Revenue 1.39 x 1.25 x 5.18 x 4.5 x 3.15 x 4.36 x 3.89 x 3.42 x
EV / Revenue 1.79 x 1.49 x 5.3 x 4.48 x 3.15 x 4.38 x 3.92 x 3.5 x
EV / EBITDA 11.7 x 6.13 x 18.5 x 19 x 19.5 x 28.8 x 22.2 x 18.1 x
EV / FCF -27.3 x 18.1 x 29.3 x 47.8 x 86.9 x 230 x 255 x 115 x
FCF Yield -3.66% 5.53% 3.42% 2.09% 1.15% 0.43% 0.39% 0.87%
Price to Book 3.5 x 3.35 x 9.63 x 9.17 x 6.14 x 6.97 x 5.82 x 4.83 x
Nbr of stocks (in thousands) 136,393 136,393 136,393 136,393 136,393 136,393 - -
Reference price 2 274.6 386.6 1,657 2,244 1,842 2,443 2,443 2,443
Announcement Date 5/3/19 5/26/20 5/5/21 5/4/22 5/11/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 26,999 42,297 43,598 68,022 79,721 76,485 85,738 97,489
EBITDA 1 4,139 10,258 12,470 16,036 12,894 11,623 15,176 18,876
EBIT 1 3,361 8,861 10,944 14,259 11,231 9,987 13,400 16,571
Operating Margin 12.45% 20.95% 25.1% 20.96% 14.09% 13.06% 15.63% 17%
Earnings before Tax (EBT) 1 2,680 8,064 10,417 14,344 11,459 10,395 13,696 16,991
Net income 1 1,737 6,110 7,758 10,666 8,520 7,753 9,930 12,418
Net margin 6.43% 14.45% 17.79% 15.68% 10.69% 10.14% 11.58% 12.74%
EPS 2 12.73 44.80 56.88 78.20 62.47 57.00 73.98 90.61
Free Cash Flow 1 -1,773 3,472 7,895 6,370 2,891 1,456 1,320 2,977
FCF margin -6.57% 8.21% 18.11% 9.37% 3.63% 1.9% 1.54% 3.05%
FCF Conversion (EBITDA) - 33.85% 63.31% 39.73% 22.42% 12.53% 8.7% 15.77%
FCF Conversion (Net income) - 56.83% 101.76% 59.72% 33.93% 18.78% 13.29% 23.98%
Dividend per Share 2 2.000 4.500 4.500 7.000 7.500 7.091 8.391 9.895
Announcement Date 5/3/19 5/26/20 5/5/21 5/4/22 5/11/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 S2
Net sales 1 12,347 14,632 15,262 16,814 17,223 18,724 20,580 19,616 19,911 19,614 17,683 19,050 18,720 20,151 -
EBITDA 1 3,350 4,547 4,515 3,865 3,518 4,103 3,560 2,708 3,146 3,480 2,098 2,720 3,270 3,100 6,449
EBIT 3,011 - 4,079 3,425 - 3,657 3,141 - - - - 2,086 2,703 2,307 -
Operating Margin 24.39% - 26.73% 20.37% - 19.53% 15.26% - - - - 10.95% 14.44% 11.45% -
Earnings before Tax (EBT) 1 - - 4,052 3,417 3,253 3,622 3,151 2,346 2,810 3,152 2,017 2,296 2,995 2,703 -
Net income 1 2,166 2,901 3,026 2,543 2,425 2,672 2,346 1,745 2,095 2,339 1,499 1,804 2,227 2,082 -
Net margin 17.54% 19.83% 19.83% 15.13% 14.08% 14.27% 11.4% 8.89% 10.52% 11.92% 8.48% 9.47% 11.9% 10.33% -
EPS 2 - 21.27 22.19 18.65 - 19.59 17.20 - - 17.15 10.99 11.77 15.87 14.90 -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/12/21 5/5/21 7/29/21 10/27/21 1/24/22 5/4/22 8/2/22 11/9/22 2/7/23 5/11/23 8/3/23 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,991 10,102 5,026 - - 1,783 3,078 7,968
Net Cash position 1 - - - 1,636 - - - -
Leverage (Debt/EBITDA) 2.656 x 0.9848 x 0.403 x - - 0.1534 x 0.2028 x 0.4221 x
Free Cash Flow 1 -1,773 3,473 7,895 6,370 2,891 1,456 1,320 2,977
ROE (net income / shareholders' equity) 17.4% 46.2% 39.6% 37.5% 22.9% 17.8% 19.3% 19.8%
ROA (Net income/ Total Assets) - - - 26.7% 17.8% - - -
Assets 1 - - - 39,954 47,796 - - -
Book Value Per Share 2 78.60 115.0 172.0 245.0 300.0 350.0 420.0 506.0
Cash Flow per Share - - - - - - - -
Capex 1 2,427 3,984 2,086 1,862 3,599 9,754 9,728 11,996
Capex / Sales 8.99% 9.42% 4.78% 2.74% 4.51% 12.75% 11.35% 12.3%
Announcement Date 5/3/19 5/26/20 5/5/21 5/4/22 5/11/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Deepak Nitrite Limited

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
2,443 INR
Average target price
2,336 INR
Spread / Average Target
-4.38%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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