Deepak Nitrite has received reaffirmation in long term credit rating of ICRA AA and short term rating at ICRA A1+ for Rs 490 crore bank facilities and Rs 200 crore commercial paper of the company. The outlook on the long term rating is Positive. Further, ICRA has also reaffirmed the long term credit rating of ICRA AA and short term rating at ICRA A1+ for Rs 729.02 crore bank facilities of Deepak Phenolics, a wholly owned subsidiary of the company. The outlook on the long term rating is Positive. Additionally, ICRA has reaffirmed the long term credit rating of ICRA A and short term rating at ICRA A2+ for Rs 200 crore bank facilities of Deepak Chem Tech, a wholly owned subsidiary of the company. The outlook on the long term rating is Positive.Powered by Capital Market - Live News

Net profit of Deepak Nitrite declined 3.35% to Rs 202.05 crore in the quarter ended December 2023 as against Rs 209.05 crore during the previous quarter ended December 2022. Sales rose 0.91% to Rs 2009.23 crore in the quarter ended December 2023 as against Rs 1991.06 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales2009.231991.06 1 OPM %15.1615.80 - PBDT315.28322.12 -2 PBT273.59281.02 -3 NP202.05209.05 -3 Powered by Capital Market - Live News

Deepak Nitrite will hold a meeting of the Board of Directors of the Company on 13 February 2024.Powered by Capital Market - Live News

The Board of Deepak Nitrite at its meeting held on 08 January 2024 has approved to - a) Acquire further 4,95,824 equity shares having face value of Omani Ria(OMR) 1 each of Deepak Oman Industries FZC LLC (DOIL), equivalent to approx. USD 12,87,853 through acquisition as well as by way of subscription and thereby increasing its shareholding in DOIL from 31.72% to 51% and making it a subsidiary ofthe Company.b) Give Corporate Guarantee to DOIL, subsequent to above acquisition, for the purpose of securing the Term Loan, to be obtained by DOIL from Export Import Bank of India, of approx.US S 49 Mn and also to cover interest and other charges thereo. Powered by Capital Market - Live News

Deepak Nitrite announced that the Board of Directors of Deepak Phenolics (DPL), a wholly owned material subsidiary of the company, has approved execution of binding Term Sheet between DPL and Petronet LNG (PLL) for offtake of 250 KTPA of Propylene and 11KTPA of Hydrogen from Petronet Petrochemical Project at Dahej, Gujarat for a period of15 years from the date of first supply of Propylene and Hydrogen by PLL to DPL.Powered by Capital Market - Live News