DEEPAKFERT
Deepak Fertilizers and Petrochemicals Corporation share price & financials
- Price
- ₹1,594
- Market cap
- ₹16.7k Cr
- Sector
- Chemicals
- Calls analysed
- 6
Deepak Fertiliz. Q4 FY26
What went well
- Revenue growth of 12% for the full year to INR11,506 crores.
- Q4 Mining Chemicals volume up 12% Y-o-Y and 27% sequentially, with full year growth of 11%.
- B2C segment in Mining Chemicals now contributes 16% of revenue, improving realization and customer engagement.
What to watch
- Q4 EBITDA at INR354 crores, full year EBITDA at INR1,684 crores, impacted by challenging environment.
- Q4 results include a one-off impact of around INR75 crores due to a planned ammonia shutdown.
What Deepak Fertilizers and Petrochemicals Corporation Limited does
Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) is a Pune-based, four-decade-old chemicals group organised into three core operating businesses: Industrial Chemicals (nitric acid in multiple grades, Iso Propyl Alcohol, methanol, liquid CO2, ammonia) sold into pharmaceuticals, nitro-aromatics, paints, steel, solar, explosives and agrochemicals; Mining Chemicals (ammonium nitrate-based explosives inputs such as LDAN, HDAN and AN Melt) run through subsidiary Deepak Mining Solutions; and Crop Nutrition (NPK, water-soluble and specialty fertilisers under the Mahadhan brand) run through subsidiary Mahadhan AgriTech. It also operates a value-added real estate business, Creaticity, a branded furniture and lifestyle retail destination in Pune. Manufacturing is anchored at integrated plants in Taloja (Maharashtra) and Dahej (Gujarat), with a new nitric acid expansion at Dahej and a greenfield TAN plant at Gopalpur (Odisha) under construction.
Segments
- Industrial Chemicals
- Mining Chemicals
- Crop Nutrition Business (CNB)
- Value-Added Real Estate
- Nitric Acid market position
- Largest producer of Nitric Acid in South East Asia
- Manufacturing locations
- Integrated plants at Taloja (Maharashtra) and Dahej (Gujarat); new TAN plant under construction at Gopalpur (Odisha)
- Product exclusivity
- India's only manufacturer of prilled Technical Ammonium Nitrate and medical-grade Ammonium Nitrate
- Product exclusivity
- India's only manufacturer of Nitrogen Phosphorus Prill (24:24:0) fertiliser
- Bentonite Sulphur market position
- India's largest manufacturer of Bentonite Sulphur
- Croptek farmer reach
- ~0.7 million farmers across ~6 lakh hectares
Guidance record · Q4 FY26
what the last two calls moved 10 tracked 0 delivered 4 missed 6 open- Peak Net Debt missed said Q3 FY25 Promised: Around ₹5,500 crores by H2 FY26 Q4 FY26: Net debt stood at INR4,824 crores, exceeding the revised peak guidance of INR4,500 crores.
- Gopalpur & Dahej Project Commissioning delayed said Q4 FY25 Promised: H2 FY26 Q4 FY26: Commissioning is expected in Q2 FY '27 due to nonavailability of skilled workforce.
- Gas Cost Reduction (Equinor Deal) diluted said Q3 FY25 Promised: 20% plus Q4 FY26: Maiden cargo from the 15-year LNG contract was received. Management confirmed a cost benefit will be visible starting next quarter.
All 10 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 22.5%, net profit up 100.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,747 | 2,579 | 2,667 | 2,659 | 3,006 +9% | 2,830 +10% | 3,011 +13% | 3,256 +22% |
| EBITDA | 494 | 486 | 480 | 513 | 464 −6% | 353 −27% | 354 −26% | 845 +65% |
| Net profit | 214 | 253 | 278 | 244 | 214 +0% | 141 −44% | 139 −50% | 490 +101% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −7.0% 1Y
1Y: ₹1,420.1 on 10 Sept 2025 → ₹1,320.4. High ₹1,664.3 (2 Jul 2026), low ₹872.1 (23 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −2.6%
- 29 May
- Q3 FY26
- −5.3%
- 30 Jan
- Q2 FY26
- −5.0%
- 6 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 0.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 14.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹11.3k Cr | ₹8.7k Cr | ₹10.3k Cr | ₹11.5k Cr |
| Operating profit | ₹2.2k Cr | ₹1.3k Cr | ₹1.9k Cr | ₹1.7k Cr |
| Operating margin | 19.2% | 14.8% | 18.7% | 14.6% |
| Interest | ₹195 Cr | ₹404 Cr | ₹413 Cr | ₹352 Cr |
| Depreciation | ₹239 Cr | ₹333 Cr | ₹404 Cr | ₹423 Cr |
| Net profit | ₹1.2k Cr | ₹468 Cr | ₹945 Cr | ₹738 Cr |
| Net margin | 10.8% | 5.4% | 9.2% | 6.4% |
| Cash from operations | ₹493 Cr | ₹732 Cr | ₹1.9k Cr | ₹206 Cr |
| Free cash flow | ₹-716 Cr | ₹-94 Cr | ₹763 Cr | ₹-1.4k Cr |
| ROCE | 25.0% | 11.0% | 16.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹103 Cr | ₹121 Cr | ₹126 Cr | ₹126 Cr | ₹126 Cr | ₹126 Cr |
| Reserves | ₹2.6k Cr | ₹3.8k Cr | ₹4.9k Cr | ₹5.4k Cr | ₹6.4k Cr | ₹6.7k Cr |
| Borrowings | ₹2.6k Cr | ₹2.7k Cr | ₹3.7k Cr | ₹4.1k Cr | ₹4.4k Cr | ₹5.7k Cr |
| Other liabilities | ₹1.9k Cr | ₹2.2k Cr | ₹2.7k Cr | ₹2.2k Cr | ₹4.1k Cr | ₹3.8k Cr |
| Total liabilities | ₹7.2k Cr | ₹8.7k Cr | ₹11.4k Cr | ₹11.9k Cr | ₹15.0k Cr | ₹16.3k Cr |
| Fixed assets | ₹2.6k Cr | ₹2.6k Cr | ₹2.7k Cr | ₹6.3k Cr | ₹6.2k Cr | ₹6.2k Cr |
| Capital work in progress | ₹1.6k Cr | ₹2.4k Cr | ₹3.5k Cr | ₹754 Cr | ₹2.2k Cr | ₹3.1k Cr |
| Investments | ₹449 Cr | ₹879 Cr | ₹600 Cr | ₹261 Cr | ₹589 Cr | ₹133 Cr |
| Other assets | ₹2.5k Cr | ₹2.8k Cr | ₹4.6k Cr | ₹4.6k Cr | ₹6.0k Cr | ₹6.9k Cr |
| Total assets | ₹7.2k Cr | ₹8.7k Cr | ₹11.4k Cr | ₹11.9k Cr | ₹15.0k Cr | ₹16.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +2.42 pp while FIIs trimmed −1.23 pp. The shareholder count shrank 14% to 1,78,847.
- Promoters
- 45.6%
- FIIs
- 10.0%
- DIIs
- 14.7%
- Public
- 29.7%
Since Jun 2025
- DIIs +2.42 pp
- FIIs −1.23 pp
- Public −1.18 pp
How it drifted, 12 quarters
Over this window DIIs went from 2.8% to 14.7% — +11.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 45.5%, FIIs 13.0%, DIIs 2.8%, Public 38.8%.Dec '23: Promoters 45.5%, FIIs 13.2%, DIIs 3.5%, Public 37.9%.Mar '24: Promoters 45.6%, FIIs 12.8%, DIIs 3.2%, Public 38.5%.Jun '24: Promoters 45.6%, FIIs 9.8%, DIIs 6.3%, Public 38.2%.Sep '24: Promoters 45.6%, FIIs 9.7%, DIIs 10.0%, Public 34.7%.Dec '24: Promoters 45.6%, FIIs 11.6%, DIIs 8.8%, Public 34.0%.Mar '25: Promoters 45.6%, FIIs 10.7%, DIIs 11.3%, Public 32.3%.Jun '25: Promoters 45.6%, FIIs 11.3%, DIIs 12.3%, Public 30.9%.Sep '25: Promoters 45.6%, FIIs 10.9%, DIIs 12.6%, Public 30.8%.Dec '25: Promoters 45.6%, FIIs 10.3%, DIIs 13.2%, Public 30.9%.Mar '26: Promoters 45.6%, FIIs 10.3%, DIIs 13.2%, Public 30.8%.Jun '26: Promoters 45.6%, FIIs 10.0%, DIIs 14.7%, Public 29.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI ELSS Tax Saver Fund Mutual fund newly disclosed 6.34% held
- SCM Commercial Private Limited +5.86 pp 5.86% held
- ICICI Prudential Equity & Debt Fund Mutual fund newly disclosed 1.22% held
The same filing shows 1 holder trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Deepak Fertilizers and Petrochemicals Corporation Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Nova Synthetic Private Limited | 34.53% | unchanged |
| SBI ELSS Tax Saver Fund Mutual fund | 6.34% | newly disclosed |
| SCM Commercial Private Limited | 5.86% | +5.86 pp |
| Robust Marketing Services Private Limited | 2.91% | −5.86 pp |
| SBI Life Insurance Co. Ltd Insurer | 2.38% | unchanged |
| Sofotel Infra Private Limited | 1.54% | unchanged |
| Investor Education And Protection Fund Authority M | 1.42% | unchanged |
| ICICI Prudential Equity & Debt Fund Mutual fund | 1.22% | newly disclosed |
| Mukul Mahavir Agrawal | 1.19% | unchanged |
| Deepak Chimanlal Mehta | 0.70% | unchanged |
| Yeshil Sailesh Mehta | 0.09% | unchanged |
| Forex Leafin Pvt Ltd | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in DEEPAKFERT
Filings to Aug 2026
0 new, 4 added, 1 trimmed, 0 sold out — net +0.02 L shares (+0.0%).
- Held by funds
- ₹1.2k Cr
- 11 schemes
- Biggest holder
- SBI Smallcap Fund
- ₹740 Cr · 1.7% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Smallcap Fund SBI Mutual Fund | ₹740 Cr | held | Jan '25 |
| SBI MultiCap Fund SBI Mutual Fund | ₹309 Cr | held | Oct '25 |
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹37 Cr | held | Jun '26 |
| SBI Long Term Advantage Fund - Series V SBI Mutual Fund | ₹28 Cr | held | Jan '25 |
| SBI Resurgent India Opportunities Scheme SBI Mutual Fund | ₹17 Cr | held | Apr '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹15 Cr | +0.01 L | Sep '22 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹8 Cr | +0.01 L | Oct '22 |
| SBI Long Term Advantage Fund - Series VI SBI Mutual Fund | ₹7 Cr | held | Jan '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 1 trimmed — net +1,914 shares (+0.0%)
- Funds are sitting on
- +36%
- vs est. average cost
- Held by funds
- ₹1.2k Cr
- 11 schemes · ≈ 7.9% of the company
- Biggest holder
- SBI Smallcap Fund
- ₹740 Cr · 1.7% of that fund
- Longest holder
- Nippon India Nifty Smallcap 250 Index Fund
- 4y · since Sep '22
Shares held by these funds +15096%
Aug '23 82.63 L shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹1320, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~-16%. At that growth it is worth ₹329 — downside of 75%.
- Growth the price implies
- 9.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -15.5% a year
- net profit, FY23–FY26 · EPS -15.7%
- The gap
- 0.3 pp
- -75% downside if it only repeats history
All earnings calls (6)
Read the Q4 FY26 call →Learn to analyse Deepak Fertilizers and Petrochemicals Corporation Limited
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