Deepak Fertilisers And Petrochemicals Corporation Limited, one of India's leading producers of Industrial Chemicals and Fertilisers, announces its results for the quarter and half year ended September 30, 2020. The company's total revenues increased by ~22% y-o-y to Rs. 1,404 Cr in Q2 FY21 and increased ~23% y-o-y to Rs2,786 Cr in H1 FY21. It's total Operating EBITDA increased by ~66% y-o-y to Rs. 193 Cr in Q2 FY21 and increased 97% y-o-y to Rs. 465 Cr in H1 FY21. Margins expanded by 363 bps to 13.8% in Q2 FY21 and expanded by 631 bps to 16.7% in H1 FY21.  PAT increased by ~216% y-o-y to Rs. 81 Cr in Q2 FY21 and increased 457% y-o-y to Rs. 202 Cr in H1 FY21. Margins expanded by 352 bps to 5.7% in Q2 FY21 and expanded by 563 bps to 7.2% in H1 FY21.
Net Debt reduced from Rs. 2,769 Cr as on FY20 to Rs. 2,201 Cr as on H1 FY21; Net Debt to Equity (x) ratio improved from 1.25x as on FY20 to 0.91x as on H1 FY21 resulting in lower finance cost.
Commenting on the performance, Sailesh C. Mehta, Chairman & Managing Director, Deepak Fertilisers And Petrochemicals Corporation Limited, said: "Despite the continued operational challenges faced due to the COVID-19 pandemic, we witnessed improvement in overall economic activity on a pan India level as lockdown restrictions were eased and normalcy returned partially. Heavy rainfall during Q2 has ensured optimal water levels across major reservoirs in core areas where we operate. We expect a good rabi season which might get slightly delayed as we witnessed above average rainfall during the tail end of the monsoon season. I say this with immense satisfaction, that our Company continues to progress well both on financial and operational fronts. We have been continuously striving towards enhancing profitability by focusing on high margin businesses along with the cost optimization initiatives. We are pleased to announce a strong financial performance during the first half of FY2020-21."

"We remain profitably aligned to the Indian growth story by supporting critical sectors of the economy such as agriculture, pharmaceuticals, mining, infrastructure, health and hygiene, among others. Capex outlay, that were undertaken few years back, have now started bearing fruits and expected to grow in the coming quarters," he added.

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