DFPCL has registered a remarkable growth in EBITDA of 100% y-o-y and PAT of over 190% y-o-y for the quarter.
Deepak Fertilisers & Petrochemicals announced the financial results for nine months FY21.Total Operating EBITDA increased by 100% y-o-y to Rs. 217 Cr in Q3 FY21 and increased 98% y-o-y to Rs. 682 Cr in 9M FY21. EBITDA margin expanded by 529 bps to 15% in Q3 FY21 and expanded by 595 bps to 16.1% in 9M FY21. PAT grew by 193% y-o-y to Rs. 89 Cr in Q3 FY21 and increased 337% y-o-y to Rs. 291 Cr in 9M FY21. PAT margin expanded by 350 bps to 6.1% in Q3 FY21 and expanded by ~491 bps to 6.8% in 9M FY21.
Commenting on the performance, Sailesh C. Mehta, Chairman & Managing Director, Deepak Fertilisers And Petrochemicals Corporation Limited, said, “It gives me great pleasure to share with you that DFPCL has registered a remarkable growth in EBITDA of 100% y-o-y and PAT of over 190% y-o-y for the quarter. DFPCL demonstrated robust growth across all three key business segments. Tremendous focus on improving operational efficiencies, stringent cost optimisation initiatives whilst integrating technologies and innovations into daily operations during this unprecedented COVID phase have led to this stellar business performance.
The overall performance of the IC business in Q3 FY21 significantly improved year on year; primarily driven by the robust demand for Nitric Acid. A similar trend is seen even in the exports markets which favoured us in improving our business margins and overall growth for the quarter. Our Dahej plant achieved 100% utilization capacity.
Fertiliser business delivered its fifth consecutive profitable quarter in Q3 FY21. We sold around 3.2 lakh MT of Smartek product during the year till December end which is over 120% growth over same period last year.
Finance cost reduced significantly by 29% y-o-y in Q3 FY21 and 24% y-o-y in 9M FY21. Reduction in finance cost was primarily driven by significant efforts towards improving collections and better working capital management, thereby reducing the short-term borrowings.
