Deepak Fertilisers Q4 net up 5-fold at Rs113.29cr on sharp fall in raw material costs in Mar-21 quarter

Deepak Fertilizers reported 21.82% yoy increase in consolidated revenues for the Mar-21 quarter at Rs1,575.08cr. On a sequential basis, the total sales revenues were up by a relatively muted 8.84% compared to total revenues in the Dec-20 quarter at Rs1,447.14cr.

In its largest vertical of chemicals, Deepak Fertilizers saw manufactured fertilizers sales rise by 36.7% at Rs797cr. While chemicals trading revenues were down, the fertilizers revenues from manufacturing were up by 40% at Rs589cr while fertilizer trading was flat yoy.

Net profits in the Mar-21 quarter was up 405% at Rs113.29cr on the back of lower raw material costs. In fact raw material costs were lower by 19% yoy at Rs766cr in the Mar-21 quarter. Net profits were higher 29.4% sequentially.

Net margins at 7.19% for Mar-21 quarter was higher than 1.73% NPM in the Mar-20 quarter. NPM was however nearly 114 basis points higher on sequential basis as compared to the Dec-20 quarter.

Financial highlights for Mar-21 compared yoy and sequentially