Deepak Nitrite, a chemical manufacturing company is located in Gujarat, India. It is a major manufacturer of specialty, organic, and inorganic chemicals. It also produces a variety of intermediates that can be used in paints, cosmetics and polymers. Its manufacturing facilities can be found in the states of Telangana, Maharashtra and Gujarat.
Deepak Nitrite holds a 70% market share in India for sodium nitrite and sodium nitrate.
The company was able to replace the bulk of local market imports of Acetone and Phenol, and has a market share of approximately 65%.
It is also one of the three largest global players* in xylidines and cumidines.
Product Offerings FY21
Phenolics (58%): Deepak Phenolics, a wholly-owned subsidiary company of the Company, began commercial production at Dahej of Phenol in 2019. The company produces Acetone, Phenol, and IPA. Paints, adhesives and thinners are some of the industries that use it. As of FY21, the division had a capacity utilization of more than 100%.
Basic Chemicals (17%) – The company produces nitrites and nitrogen toluidines, as well as fuel additives for Petrochemicals and Rubber, Agrochemicals and Pharmaceuticals. These chemicals are produced in large quantities and have a higher price sensitivity.
Fine & Speciality Chemicals (18%) – This division produces Xylidines and Oximes as well as Cumidines and other speciality chemicals. These products can be tailored to meet the needs of each client.
They are produced in smaller quantities, but have a higher price due to their use in Agrochemicals and Colours & Pigments.
Performance Products (7%): The division’s key products are Optical Brightening agents and
DASDA is used in paper, detergents and textiles, as well as in coating applications in printing and photographic paper.
Geographical Revenue Split – FY21
Exports (mainly from Europe, the US and Asia-Middle East – 29%
Domestic – 71%
Deepak Nitrite serves over 700 customers on 6 continents and offers more than 100 products. The company has many notable clients like BASF, Syngenta and Reliance, Syngenta.
Deepak Nitrite owns six fully integrated manufacturing plants at five locations across three states.
Plans for expansion
Brownfield expansion is close to completion, which will double the company’s IPA capacity to 60,000 MTPA.
It bought land parcels in Dahej, Gujarat as part of its capacity expansion plan. Then it acquired smaller parcels in Hyderabad and Roha for Rs. 141 Cr.
The company will invest around Rs. 300 Cr. Another amount of Rs. 300 Cr. was invested in new products that are based on environmentally-friendly technologies for agrochemical intermediate and pharmaceutical. In various brownfield expansions, 100 Cr was committed to existing products.
Deepak Nitrite plans a capex of Rs. Over FY2022-FY2023, a total of 950-1,000 crore will be spent on expansion projects in the Basic Chemicals & Fine & Speciality Chemicals sections and the additions to downstream products in the phenolics section.
To increase the production capacity of key products, greenfield land development at Dahej is possible.
Cost optimization through backward integration, recycling and maximising asset usage.
Maximize product mix by adding value-added products
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