Deepak Fertilisers cuts GHG intensity by ~2% in FY26 BRSR

2 min read     Updated on 09 Aug 2026, 05:37 PM
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Deepak Fertilisers And Petrochemicals Corporation Limited filed its FY26 BRSR, reporting a ~2% drop in GHG intensity and zero lost-time injuries. The company met all environmental targets against its FY23 baseline, including an 18% cut in N2O emissions. SustainEDGE provided reasonable assurance for the core disclosures.

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Deepak Fertilisers And Petrochemicals Corporation Limited ( Deepak Fertilisers & Petrochemicals ) submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, to the Bombay Stock Exchange and National Stock Exchange on August 9, 2026. The filing, mandated under Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the company’s consolidated sustainability performance across environmental, social, and governance parameters. The report highlights a measurable improvement in carbon efficiency, with combined Scope 1 and Scope 2 greenhouse gas (GHG) emission intensity falling by approximately 2% to 0.77 tCO2e/MT of production from 0.78 in the prior year.

The disclosure covers DFPCL and its material subsidiaries: Mahadhan AgriTech Limited, Deepak Mining Solutions Limited, and Performance Chemiserve Limited. SustainEDGE Business Solutions Private Limited provided reasonable assurance (Type 2 High Assurance) for the BRSR Core Indicators. Madhumilan P. Shinde, Occupier and Non-Executive Director, served as the highest authority responsible for overseeing the implementation of business responsibility policies. The Board approved the relevant policies, which align with nine principles of the National Guidelines on Responsible Business Conduct (NGRBC).

Environmental Performance

DFPCL reported significant strides in resource efficiency during FY26. Water consumption intensity decreased by approximately 10%, declining from 1.93 KL/MT to 1.74 KL/MT of production. The company achieved its specific environmental targets set against an FY23 baseline, including an 18% reduction in N2O emissions, a 6% reduction in energy consumption, and an 18% reduction in water consumption. Additionally, total waste generation fell by 12%, while renewable energy usage increased by 6%.

The company maintains zero confirmed incidents related to corruption, discrimination, or regulatory non-compliance. It also added 2,400 plantations, bringing the total count to 76,940. Two major manufacturing sites, K1-K6 and K7-K8, received recognition through Frost & Sullivan Sustainability Awards. DFPCL was further honoured with the International Safety Award (Merit Category) by the British Safety Council.

Environmental Metric FY26 Value Change / Target
GHG Emission Intensity 0.77 tCO2e/MT ~2% reduction
Water Consumption Intensity 1.74 KL/MT ~10% reduction
N2O Emission Reduction Achieved 18% vs FY23 baseline
Energy Consumption Reduction Achieved 6% vs FY23 baseline
Renewable Energy Increase Achieved 6% vs FY23 baseline

Social and Governance Highlights

On the social front, DFPCL recorded a Zero Lost Time Injury Frequency Rate (LTIFR) and maintained 100% employee health insurance coverage. The workforce comprises 2,535 employees and 2,533 workers as of March 31, 2026. Women constitute 20% of the Board of Directors but represent only 4.14% of total employees and 1.50% of workers. The turnover rate for permanent employees was 18.13% in FY26, compared to 15.30% in FY25.

Governance structures include a CSR Committee, Stakeholders Relationship Committee, Manufacturing Operations Review Committee, and Risk Management Committee. The company conducted an internal Human Rights due-diligence audit in March 2026, covering 100% of its sites. No human rights-related grievances were received during the reporting period.

What the Numbers Show

The simultaneous reduction in both GHG emission intensity and water consumption intensity suggests that operational efficiency improvements are driving environmental gains rather than simple production cuts. With manufacturing accounting for 81.91% of turnover, these intensity metrics are critical indicators of core business sustainability. The achievement of all specific environmental targets against the FY23 baseline indicates effective execution of long-term decarbonization strategies, particularly given the chemical industry’s high energy and water dependency.

Historical Stock Returns for Deepak Fertilisers & Petrochemicals

1 Day5 Days1 Month6 Months1 Year5 Years
-1.36%+0.35%-4.20%+54.26%+0.23%+225.05%

How might DFPCL's improved carbon and water efficiency metrics influence its cost structure and competitive positioning in the global fertilizer market amidst rising energy prices?

Given the low representation of women in the workforce (4.14%), what specific initiatives is DFPCL planning to implement to improve gender diversity beyond board-level representation?

With an employee turnover rate increasing from 15.30% to 18.13%, what strategies is management deploying to retain talent, and how could this impact operational continuity?

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Deepak Fertilisers Latest Results: Revenue Up 12% YoY to ₹11,506 Crore in FY26

6 min read     Updated on 09 Aug 2026, 05:37 PM
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Deepak Fertilisers & Petrochemicals Corporation Limited reported consolidated revenue of ₹11,506 crore for FY 2025-26, up 12% from ₹10,274 crore in FY 2024-25, with Operating EBITDA of ₹1,684 crore and PAT of ₹739 crore. The Mining Chemicals segment achieved record TAN sales of 577 KT (11% YoY growth), while Croptek sales grew 25% YoY to 248 KT. Two flagship projects — the 376 KTPA Gopalpur TAN plant (95% complete) and the Dahej Nitric Acid expansion (86% complete) — are on track for commissioning in H2 FY 2026-27. The Board recommended a dividend of ₹10 per equity share, and the 46th AGM is scheduled for 1st September, 2026.

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Deepak Fertilisers & Petrochemicals Corporation Limited (DFPCL) has released its Annual Report for FY 2025-26, reporting consolidated revenue from operations of ₹11,506 crore, a 12% increase from ₹10,274 crore in FY 2024-25. The Company reported an Operating EBITDA of ₹1,684 crore and Profit After Tax (PAT) of ₹739 crore for the year, against PAT of ₹945 crore in the prior year. The 46th Annual General Meeting is scheduled for Tuesday, 1st September, 2026 at 11.00 a.m. through Video Conferencing/Other Audio-Visual Means.

Consolidated Financial Performance

DFPCL delivered resilient financial performance in FY 2025-26 despite a challenging global environment marked by geopolitical uncertainties, volatile raw material and energy prices, and supply chain disruptions. The following table summarises key consolidated financial highlights:

Metric: FY 2025-26 FY 2024-25 FY 2023-24
Revenue from Operations (₹ crore): 11,506 10,274 8,676
Operating EBITDA (₹ crore): 1,684 1,925 1,287
EBITDA Margin (%): 14.63 18.73 14.83*
Profit After Tax (₹ crore): 739 945
PAT Margin (%): 6.42 9.19 5.39
Net Debt to Equity (x): 0.65 0.61
EPS (₹): 58.40 73.95
Dividend (₹/share): 10.00 10.00

*After adjusting one-off, EBITDA margin is 18.3%

On a standalone basis, the Company achieved total revenue of ₹1,964 crore (including ₹195 crore from trading operations) compared to ₹1,951 crore (including ₹139 crore from trading operations) in the previous year. Standalone Profit Before Tax was ₹326 crore versus ₹519 crore in the prior year, and Net Profit stood at ₹269 crore against ₹413 crore previously.

Segment Performance

Industrial Chemicals

DFPCL's Industrial Chemicals business demonstrated steady operational performance during FY 2025-26. Key highlights include:

  • IPA Sales: Achieved Iso Propyl Alcohol (IPA) sales of 63 KT during FY 2025-26, including 38% of premium-grade IPA, marking around 4% YoY growth in premium-grade sales.
  • Nitric Acid Production: Total production of Weak Nitric Acid (WNA) stood at 849 KT for FY 2025-26. Merchant sales of Nitric Acid products (including WNA, CNA and SNA) reached 316 KT, registering a healthy YoY growth of 10%.
  • DFPCL commands around 45% share in India's merchant Nitric Acid market.
  • The 1,500 TPD ammonia plant at Taloja operated near design capacity, reducing dependence on imported ammonia.

Mining Chemicals

Deepak Mining Solutions Limited (DMSL) recorded its highest-ever TAN sales volume during the year:

Metric: FY 2025-26
TAN Sales Volume: 577 KT
YoY Growth: 11%
Estimated Market Share (India TAN): ~40%

Contribution of the Total Cost of Ownership (TCO) model in DMSL's B2C business increased by 37% year-on-year. PCL's 1,500 TPD greenfield Ammonia plant produced 452 KT of ammonia during FY 2025-26, meeting around 93% of the Group's requirements. PCL's merchant ammonia market share in western India stands around 33%.

Crop Nutrition Business

The Crop Nutrition Business (CNB) operated under Mahadhan AgriTech Limited (MAL) reported the following key developments:

  • Croptek sales grew 25% YoY, increasing from 198 KT in FY 2024-25 to 248 KT in FY 2025-26.
  • The Croptek user base expanded to 1 million farmers, covering over 6 lakh hectares.
  • Smartek product portfolio recorded cumulative sales of over 2.7 MMT since launch.
  • Premium Water Soluble Fertiliser (WSF) grew 26%, achieving a 15% market share; Solutek recorded 11% growth.
  • Specialty and Croptek products contributed 33% of Crop Nutrition revenues.
  • MAL achieved a turnover of ₹6,56,518 Lakhs (excluding other income) with profit before tax of ₹26,364 Lakhs.

Major Capital Projects

FY 2025-26 marks a transition from capital investment to commissioning readiness for two flagship projects:

Project: Details
Gopalpur TAN Plant (Greenfield): 376 KTPA capacity; ~95% complete; commissioning targeted H2 FY 2026-27
Dahej Nitric Acid Expansion (Brownfield): 300 KTPA WNA + 150 KTPA CNA; ~86% complete; commissioning targeted H2 FY 2026-27
Group TAN Capacity Post-Commissioning: ~1 million tonnes per annum
India TAN Demand Coverage: ~60%
Nitric Acid Capacity Post-Commissioning: 1,120 KTPA (positioning DFPCL as Asia's largest Nitric Acid producer)

During FY 2025-26, ₹1,570 crore was invested in these strategic projects. The Gopalpur facility achieved 10 million safe manhours, while the Dahej project recorded over five million safe manhours.

Strategic Developments

Several significant corporate actions were undertaken during the year:

  • LNG Supply Agreement: The Company entered into a long-term LNG supply agreement with Equinor ASA (Norway), subsequently novated to Deepak Globalchem Pte. Ltd., a Singapore-based wholly-owned subsidiary. The agreement provides for annual supplies of LNG up to 0.65 million tonnes for a period of 15 years commencing from 2026.
  • Platinum Blasting Services Acquisition: DMSL enhanced its shareholding in Platinum Blasting Services Pty Limited from 85% to 100% for an aggregate consideration of 10,699,325 AUD equivalent to INR 62,80,23,629.
  • Chardham Chemicals Acquisition: DMSL completed the acquisition of 100% equity stake in Chardham Chemicals Private Limited on 6th May, 2026, strengthening its explosives portfolio.
  • MAL Capital Infusion: The Company subscribed to 20,20,202 equity shares of Mahadhan AgriTech Limited on a rights basis at a total consideration of ₹400 Crore.
  • Methanol Plant Closure: The Board approved permanent closure and dismantling of the 300 TPD Methanol Plant at K1 Taloja Unit, which had remained non-operational since FY 2021-22.

Dividend and AGM Details

The Board of Directors recommended a dividend of ₹10 per equity share (face value ₹10 each) for FY 2025-26, consistent with the previous year's dividend. The paid-up equity share capital of the Company as on 31st March, 2026 was ₹126.24 Crores.

AGM Parameter: Details
Meeting Date: Tuesday, 1st September, 2026
Time: 11.00 a.m. IST
Mode: Video Conferencing / OAVM
Book Closure: 26th August, 2026 to 1st September, 2026 (both days inclusive)
Record Date for Dividend: Tuesday, 25th August, 2026
Dividend Payment Date: On or before 30th September, 2026
Remote E-Voting Period: 29th August, 2026 (9.00 a.m.) to 31st August, 2026 (5.00 p.m.)

Board Changes

During FY 2025-26, several changes were made to the Board of Directors:

  • Dr. Purvi Mehta Bhatt (DIN: 01596457) was appointed as Independent Woman Director for a first term of 3 consecutive years with effect from 1st January, 2026.
  • Mr. Yeshil Sailesh Mehta (DIN: 07866312) was appointed as Additional Director in the category of Non-Executive Non-Independent Director with effect from 1st July, 2026, subject to shareholder approval at the ensuing AGM.
  • Mr. Sujal Anil Shah, Mr. Sanjay Gupta, Mr. Sitaram Kunte and Mr. Terje Bakken were re-appointed as Independent Directors for a second term of five consecutive years from their respective effective dates.
  • Smt. Varsha Purandare ceased to be an Independent Director on 30th January, 2026 upon completion of her second term.

CSR and Sustainability

Through Ishanya Foundation (IsFon), DFPCL positively impacted 63,076 beneficiaries in FY 2025-26. The Company's total CSR obligation for the financial year was ₹746.00 Lakhs, of which ₹327.27 Lakhs was spent on various projects. The unspent balance of ₹418.73 Lakhs has been transferred to a separate bank account for ongoing projects in accordance with CSR Rules.

The TAN Gopalpur Project team received the prestigious RoSPA Gold Award for health, safety and environmental excellence. DFPCL's K1 Taloja and Dahej QC team received the Gold Award at the 39th Annual Chapter Convention on Quality Concepts (CCQC) – 2025.

Historical Stock Returns for Deepak Fertilisers & Petrochemicals

1 Day5 Days1 Month6 Months1 Year5 Years
-1.36%+0.35%-4.20%+54.26%+0.23%+225.05%

How will the commissioning of the Gopalur and Dahej projects in H2 FY 2026-27 impact DFPCL's EBITDA margins, given the current pressure from volatile raw material costs?

What is the strategic rationale behind maintaining a flat dividend of ₹10 per share despite a 22% decline in PAT, considering the significant capital expenditure on new plants?

How will the long-term LNG supply agreement with Equinor ASA mitigate input cost volatility for the upcoming ammonia and nitric acid expansions?

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