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Swing Capital

Deepak Nitrite Ltd

NSE: DEEPAKNTR BSE: 506401

Incorporated in 1970, Deepak Nitrite Ltd manufactures Basic Intermediates, Fine & Speciality Chemicals, Performance Products, and Phenolics[1]

₹1,755
52W: ₹1280 — ₹2174
PE 121 · Book ₹236 · +644% vs book
Market Cap₹23,940 Cr
Stock P/E121Price to Earnings
ROCE7.43%Return on Capital
ROE6.23%Return on Equity
Div. Yield0.4%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 38.3%

Weaknesses

  • −Stock is trading at 7.41 times its book value
  • −The company has delivered a poor sales growth of 7.85% over past five years.
  • −Company has a low return on equity of 8.90% over last 3 years.
  • −Earnings include an other income of Rs.110 Cr.

Shareholding Pattern

Promoters49.33%
FIIs6.19%
DIIs23.46%
Public21.01%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.24%49.24%49.24%49.28%▲0.049.28%49.28%49.33%▲0.049.33%
FIIs6.86%6.68%▼0.26.59%▼0.16.64%▲0.06.68%▲0.06.21%▼0.56.06%▼0.26.19%▲0.1
DIIs21.2%22.3%▲1.123.22%▲0.923.22%22.61%▼0.622.7%▲0.123.2%▲0.523.46%▲0.3
Public22.7%21.79%▼0.920.94%▼0.820.84%▼0.121.42%▲0.621.82%▲0.421.42%▼0.421.01%▼0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales674671716605552654612616694718
Expenses562587619530510577553569649645
Operating Profit112849775427860474573
OPM %17%13%14%12%8%12%10%8%6%10%
Net Profit7511663142175430112839
EPS ₹5.468.484.6210.431.263.952.228.190.62.84

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,639Cr, up 4.5% YoY. OPM at 8%.

Debt Position

Borrowings at ₹60Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.

Capex Cycle

CWIP at ₹66Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 23.46% (+7.85pp change). FIIs: 6.19% (-1.90pp change). Promoters hold 49.33%.

Margin & Efficiency

ROCE declining from 12% (Mar 2015) to 7% (Mar 2026). Working capital days: 114.

Valuation

PE 121x with 7.43% ROCE. Price is 644% above book value of ₹236. Dividend yield: 0.4%.

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