DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Compliances-Reg.24(A)-Annual Secretarial Compliance
Annual Secretarial Compliance Report for the year ended 31st March 202429-05-2024
29-05-2024
Q4FY24 Quarterly & FY24 Annual Result Announced for Deepak Fertilisers & Petrochemicals Corporation Ltd.
Commodity Chemicals company Deepak Fertilisers & Petrochemicals Corporation announced Q4FY24 & FY24 results: Revenue Growth: During Q4FY24, revenues grew by 12.6% QoQ basis. For FY24, the company reported consolidated operating revenue of Rs 8,676 crore. EBITDA margin improvement: As the Raw Materials and the Finished products prices came down from the post Covid peaks, the revenue/top-lines receded. However, the overall EBITDA margins of the quarter rose from 16.8% to 21% and the annual margins were lower only thanks to the large one-time subsidy adjustment. The improving trend is also apparent from the Q3FY24 to Q4FY24 margins showing smart upswings of 576 bps reaching 21% EBITDA margins versus 15.2%. Segment Performance: FY24 Chemicals Segment revenues de-grew by 25% YoY with sustainable segment margins of 26%. FY24 Fertilisers Segment revenues dropped by 21% YoY, segment margins were impacted on account of one-time subsidy of 267 crore and weak monsoon. Reduction in key RM Prices during FY24 has resulted in lower NSP: Ammonia down by ~46% YoY; Phos Acid down by ~37% YoY; RGP down by ~15% YoY; MOP down by ~25%, Gas down by ~22% Net Debt of Rs 3,426 crore with Net Debt / Equity of 0.63x (FY22: 0.48x), increased due to long term project debt and working capital needs. Ammonia project commissioned in Aug 23, has achieved 100% designed production capacity. CRISIL has recently assigned a ‘Short Term’ Credit Rating of A1+ to DFPCL and MAL (Highest rating). ICRA has reaffirmed DFPCL & MAL ‘Long Term’ Credit Rating to AAwith Stable outlook and ‘Short Term’ Credit Rating is also reaffirmed to A1+ (Highest Rating). Promoters Pledge: As of March 31st, 2024, there is no encumbrance of any kind on Promoter’s holding, ensuring stakeholders' confidence in the company's strong financial position. Dividend: The Board has recommended a dividend of Rs 8.5/- per equity share of Rs 10/- each (85%). Commenting on the performance, Sailesh C. Mehta, Chairman & Managing Director: The company has shown resilience and strategic focus despite the Chemical and Fertilisers segment facing challenges simultaneously. Short-term aberration in the import of fertilizer-grade ammonium nitrate from Russia, low cost Nitroaromatics from China and below normal rainfall in our core markets impacted business performance. Despite the odds the company has delivered healthy performance with sustained margins, driven by innovation, operational excellence, and sustainability. We have entered into a 15-year long-term gas supply agreement with Equinor, commencing in May 2026. This move will ensure continuous supplies of Natural Gas and is expected to improve margins through effective natural gas/LNG hedging and in-house ammonia production, ensuring greater stability. We also signed a Commercial agreement with Haifa Group, a renowned multinational corporation specializing in Specialty Crop Nutrient. The MAL-Haifa offerings will support agricultural practices that counter the vicious trend of water scarcity and also enhance Nutrient Uptake & Use Efficiency in the plants. This will directly help achieve our Prime Minster’s dream of “More Crop Per Drop”. For FY 24-25, the demand outlook for all our business segments looks positive. ‘IMD’ has forecasted above average normal rainfall in FY25, expecting a good Kharif and Rabi season this year. Mining Chemical business volume growth is expected to continue in FY25. Further, the business has demonstrated capability to deliver Total Cost of Ownership (TCO) projects across mining & infrastructure end-users customers and is in process to become a holistic mining solutions provider in India. This will help sustain margins and customer stickiness. As we navigate through evolving market dynamics, we remain steadfast in our commitment to creating long-term value for our stakeholders while upholding the highest standards of corporate governance and sustainability. Result PDF29-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Announcement under Regulation 30 (LODR)-Investor Presentation
Earnings presentation for the quarter and year ended 31st March 202429-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press release on Audited Standalone and Consolidated Financial Results for the quarter and year ended 31st March 202429-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - The Board At Their Meeting Held On 29Th May, 2024 Decided To Hold The 44Th Annual General Meeting Of The Company On Tuesday, 10Th September, 2024.
44th AGM of the Company decided to hold on 10th September, 202429-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Closure Of Register Of Member
The register of members of the Company will remain closed from 4th September, 2024 to 10th September, 202429-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Corporate Action-Board to consider Dividend
The Board has recommended dividend payable for FY 2023-2429-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Announcement under Regulation 30 (LODR)-Change in Management
Re-appointment of Tax Auditor, Secretarial Auditor and Cost Auditor of the Company.29-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Audited Financial Results For The Quarter And Year Ended 31St March, 2024
Audited Financial Results for the quarter and year ended 31st march, 202429-05-2024
DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. - 500645 - Board Meeting Outcome for Outcome Of The Board Meeting Held On 29Th May, 2024
Submission of Audited Results, recommendation of dividend and appointment of Tax Auditor, Secretarial Auditor and Cost Auditor29-05-2024