Deepak Fertilisers' 46th AGM: Board Changes, Dividend Recommendation, and Project Updates
Deepak Fertilisers held its 46th AGM on September 1, 2026. The company recommended a 100% dividend for FY26 and reported strong Q1 FY27 results with doubled PAT. Key board changes included the induction of Dr. Purvi Mehta Bhatt and Mr. Yeshil Sailesh Mehta. Strategic capex projects, Gopalpur TAN and Dahej Nitric Acid expansion, are nearing completion.
The AGM covered multiple material aspects including financial results, dividend declaration, significant capex updates, and board changes, all of which are highly relevant to investors and stakeholders.
The announcement details positive financial performance, a recommended dividend, significant progress on growth projects, and strategic board appointments, indicating a positive outlook for the company.
The 46th Annual General Meeting (AGM) of Deepak Fertilisers And Petrochemicals Corporation Limited was held on Tuesday, 1st September, 2026, through Video Conference (VC) / Other Audio Visual Means (OAVM), commencing at 11:00 a.m. and concluding at 12:38 p.m.
During the meeting, the Chairman, Mr. Sailesh C. Mehta, announced several board changes. Dr. Purvi Mehta Bhatt was inducted as an Independent Woman Director effective January 1, 2026, and Mr. Yeshil Sailesh Mehta joined as a Non-executive Non-Independent Director effective July 1, 2026. Mrs. Varsha Purandare ceased to be an Independent Director on January 30, 2026, upon completion of her second term.
The company's financial performance for FY2025-26 was reviewed, with consolidated operating revenue exceeding ₹11,500 crore, Operating EBITDA over ₹1,650 crore, and Profit After Tax around ₹740 crore. The board recommended a 100% dividend for the financial year. The Chairman also highlighted a strong start to FY27, with the first quarter showing a doubling of PAT compared to the previous year.
Significant progress was reported on strategic capital expenditure projects. The Gopalpur TAN project and the Dahej Nitric Acid expansion are approximately 96% and 93% complete, respectively. These projects, with a combined outlay of about ₹4,650 crore, are expected to contribute positively to the P&L starting in H2 FY27 and realize full benefits in the following financial year. The company also noted the commencement of LNG supplies under a long-term agreement with Equinor, strengthening its integrated value chain.
Key business updates included the crop-specific fertilizer portfolio growing by 25% to around 250 KT, TAN sales crossing a record 575 KT, and the acquisition of Platinum Blasting Services. Merchant Nitric Acid sales exceeded 300 KT, with continued growth in specialty acids and pharma-grade IPA. The company is transforming from products to solutions, focusing on value creation and partnerships.
The AGM also addressed ordinary business, including the adoption of audited financial statements for the year ended March 31, 2026, declaration of dividend, re-appointment of a director retiring by rotation, and re-appointment of statutory auditors. Special business included the ratification of remuneration for cost auditors and the appointment of Mr. Yeshil Sailesh Mehta as a Non-Executive Non-Independent Director.
Results of the e-voting process, along with the consolidated Scrutinizer’s Report, will be submitted to the stock exchanges and posted on the company's website.
A plain-language summary of a public exchange filing by Deepak Fertilizers and Petrochemicals Corporation Limited. Read the original for the full detail.