Government push for agriculture aided rise in Q3 earnings, says Deepak Fertilisers CMD

Deepak Fertilisers and Petrochemicals reported its Q3 earnings, the numbers have been very strong, and revenues are up 30 percent. EBITDA is up around 150 percent and profits are up 200 percent this quarter.

Sailesh C Mehta, CMD of this company said, “The operating EBIDTA has virtually doubled both quarter-on-quarter (QoQ) and year-on-year (YoY), net profits have grown from Rs 30 crore to 89 crore QoQ and Rs 67 crore to Rs 291 crore for the nine months.”

“Margins have also improved from some 2.6 percent to 6 percent odd and we have crossed the topline of Rs Rs 4,000 crore in this nine months.”

When asked what aided this growth Mehta said, “This shift out of China, this Atmanirbhar drive and also the governments push for agriculture orientation has all of it been helping at the macro level.”

“At the macro level we have been very beautifully aligned with the country’s growth story. All our sectors from the macro perspective have a lot of tailwind coming because of the country’s growth story. We had good rains and that has helped certainly the fertilisers sectors.”