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Deepak Nitrite

Deepak Nitrite Ltd. is an Indian chemical manufacturing company. The company’s manufacturing facilities are located at Nandesari and Dahej in Gujarat, Roha and Taloja in Maharashtra and Hyderabad in Telangana.[3] Deepak Nitrite produces a spectrum of chemicals, including agrochemicals, colourants, rubber, pharmaceuticals, speciality and fine chemicals.[4] Deepak Mehta is the chairman of the company and his son Maulik Mehta is the chief executive officer.[5]

History

The founder of the company Chimanlal Khimchand Mehta (father of Deepak Mehta) was the known chemical trader in Jain family of Gujarat. The company was incorporated in March 1970.[6]

Sodium nitrite and nitrate plants were commissioned at Nadesari, Vadodara, Gujarat and production started in 1972. The plant produces chemicals like sodium nitrite, sodium nitrate and other allied chemicals, dyes, hexamethylene tetramine and dyes intermediates.[4][7]

The company held its Initial public offering (IPO) in 1971.[7] The IPO oversubscribed by 20 times.

In 1984 company acquire Sahyadri Dyestuffs & Chemicals unit from Mafatlal Industries.[8]

Company established Hydrogenation Plant at Taloja, Maharashtra in 1995.[9]

The company acquired management and control of Aryan Pesticides Limited, Roha and DASDA Division of Vasant Chemicals, Telangana in 2003 and 2007 respectively.[10][11]

In 2015, The company promoted Deepak Phenolics Limited for the manufacturing of phenol & acetone at Dahej, Gujarat.[12] Deepak Phenolics is a subsidiary of Deepak Nitrate.[13] Deepak Phenolics manufactures pharmaceutical grade isopropyl alcohol (IPA) and acetone.[14][15] The company is also planning on producing downstream products of phenol and acetone.[16]

In 2021, Deepak Mehta stated that the company also has hydrogenation capabilities, and are also looking to add fluorination to their chemical offerings.[17]

See also

External links

  • Official site

References

  1. Deepak Nitrite Ltd posts QoQ increase in Q4FY23 Consolidated net profit to Rs. 233.86 crores EquityBulls, 11 May 2023, retrieved 6 July 2023^
  2. Deepak Nitrite Share Price, Deepak Nitrite Stock Price, Deepak Nitrite Ltd. Stock Price, Share Price, Live BSE/NSE, Deepak Nitrite Ltd. Bids Offers. Buy/Sell Deepak Nitrite Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes www.moneycontrol.com, retrieved 2021-03-01^
  3. Deepak Nitrite Ltd. Business Standard India, retrieved 2021-03-01^
  4. Deepak Nitrite: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Deepak Nitrite - NDTV www.ndtv.com, retrieved 2021-03-06^
  5. Deepak Mehta Forbes, retrieved 2021-04-27^
  6. Deepak Nitrite Forbes, retrieved 2021-04-27^
  7. Deepak Nitrite History economictimes.indiatimes.com, retrieved 2021-04-20^
  8. Deepak Nitrite Bombay Stock Exchange, retrieved 2021-04-27^
  9. Deepak NItrite retrieved 2021-04-27^
  10. BUSINESS STANDARD. Deepak Nitrite Takes Control Of Aryan Pesticides Business Standard India, 2002-09-06, retrieved 2021-04-27^
  11. Our Regional Bureau. Deepak Nitrite buys Vasant Chem's DASDA biz Business Standard India, 2006-08-25, retrieved 2021-04-27^
  12. Deepak Nitrite Ltd. Business Standard India, retrieved 2021-04-27^
  13. Press Trust of India. Deepak Nitrite Subsidiary Deepak Phenolics Commences Commercial Production of IPA Used in Pharmaceuticals and Manufacturing of Sanitizers Business Standard India, 2020-04-23, retrieved 2022-07-25^
  14. Deepak Nitrite Limited. Deepak Nitrite reports a resilient performance amidst CoVID-19 uncertainties PR Newswire, 11 August 2020, retrieved 2022-07-25^
  15. Ujjval Jauhari. Deepak Nitrite sees improved prospects driven by phenolics mint, 2021-08-25, retrieved 2022-07-25^
  16. Deepak Nitrite Limited. Deepak Nitrite Limited's PAT rises to 206% on a Y-o-Y basis PR Newswire, 3 August 2021, retrieved 2022-07-25^
  17. ET Now. Aim to be most competitive player in chemical sector: Deepak Nitrite The Economic Times, 4 August 2021, retrieved 2022-05-03^