External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Due to sharp correction in price, we upgrade to HOLD with TP of Rs.</li><li>1,960. Deepak Nitrite’s (DN) Q3FY25 revenue stood at Rs19bn, down 5.3% YoY and 6.3% QoQ.</li><li>Operating performance for the quarter was impacted as plants remained idle due to deferral in demand, lag adjusted recovery in agchem, increase in RM cost as well as oversupply from Chinese counterparts.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Due to sharp correction in price, we upgrade to HOLD with TP of Rs.1,960. Deepak Nitrite’s (DN) Q3FY25 revenue stood at Rs19bn, down 5.3% YoY and 6.3% QoQ.Operating performance for the quarter was impacted as plants remained idle due to deferral in demand, lag adjusted recovery in agchem, increase in RM cost as well as oversupply from Chinese counterparts.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Deepak Nitrite (DN IN) - Subdued Quarter, Margins Remain Under Pressure

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Deepak Nitrite (DNL) is entering into polycarbonate (PC) manufacturing with an investment of INR50bn and further into polycarbonate compounding</li><li>This process will convert phenol and acetone into commercially valuable products</li><li>Integrated operation will equip the company to navigate the business in challenging times and boost margins</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Deepak Nitrite (DNL) is entering into polycarbonate (PC) manufacturing with an investment of INR50bn and further into polycarbonate compoundingThis process will convert phenol and acetone into commercially valuable productsIntegrated operation will equip the company to navigate the business in challenging times and boost marginsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Deepak Nitrite: Entering Capex Phase. Maintain SELL

Thematic (Sector/Industry)

<ul><li>Revenue for our coverage universe is likely to change by 11.1/-2% YoY/QoQ</li><li>Addition of new products, improved export volumes of key products, and sharp jump in realization of refrigerant gases, oleochemicals led the performance of chemical companies compared to Q1FY25</li><li>Export volumes of MEHQ, MMA, BHA, polymer additives and HALS have shown improvement during the quarter</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue for our coverage universe is likely to change by 11.1/-2% YoY/QoQAddition of new products, improved export volumes of key products, and sharp jump in realization of refrigerant gases, oleochemicals led the performance of chemical companies compared to Q1FY25Export volumes of MEHQ, MMA, BHA, polymer additives and HALS have shown improvement during the quarterContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals (Q1FY26 Results Preview): Brewing momentum

<ul><li>Revenue for our coverage universe is likely to improve by 3.1/4.3% YoY/QoQ</li><li>Prices of industrial solvent and basic chemicals remain flattish during the quarter</li><li>Agrochemical end-user industry is running on thin inventory</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue for our coverage universe is likely to improve by 3.1/4.3% YoY/QoQPrices of industrial solvent and basic chemicals remain flattish during the quarterAgrochemical end-user industry is running on thin inventoryContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals (Q4FY25 Results Preview): Landing the Year Amidst the Uncertainty

<ul><li>Deepak Nitrite: We maintain SELL on Deepak Nitrite (DNL), with a price target of INR 1,488</li><li>DNL is venturing into polycarbonate (PC) manufacturing with an investment of INR 50 bn and is also expanding into polycarbonate compounding</li><li>The PC plant shall commence operation by FY28-end and start contributing to the revenue from FY29</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Deepak Nitrite: We maintain SELL on Deepak Nitrite (DNL), with a price target of INR 1,488DNL is venturing into polycarbonate (PC) manufacturing with an investment of INR 50 bn and is also expanding into polycarbonate compoundingThe PC plant shall commence operation by FY28-end and start contributing to the revenue from FY29Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Deepak Nitrite, Sudarshan Chemical

India

Deepak Nitrite Limited manufactures chemicals and fertilizers. The Company's products include sodium nitrite/nitrate, nitric acid, ammonium nitrate, and Hydroxylamine Sulphate.  Deepak Nitrite's other two divisions manufacture dyes & dyestuffs and nitro aromatics.

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Deepak Nitrite (DN IN)