Deepak Nitrite Q3 FY26: Revenue ₹1,983 Crore, EBITDA ₹219 Crore; Transcript Released
Deepak Nitrite reported Q3 FY26 revenue of ₹1,983 crore, up 3% YoY. EBITDA increased 16% YoY to ₹219 crore. The Phenolics segment saw a 20% YoY EBIT growth. New capacities are integrated, and MIBK/MIBC project commissioning is expected this quarter. Polycarbonate project relocation to India is progressing.
The results show modest growth and improved profitability, with strategic long-term projects progressing. While positive, the immediate impact is moderate as some benefits are expected in future quarters. The completion of integration and ongoing project developments are key.
The company reported revenue growth and significant EBITDA improvement, alongside strategic progress in new capacity integration and projects like MIBK/MIBC and polycarbonate. Positive outlook for Q4 FY26 supported by trade policies and operational efficiencies contribute to positive sentiment.
Deepak Nitrite Limited (DNL) has submitted the transcript of its earnings conference call for Q3 and 9M FY26, which was held on February 13, 2026. The company reported consolidated total revenue of ₹1,983 crore for Q3 FY26, a 3% increase year-on-year and quarter-on-quarter. EBITDA for the quarter grew by 16% year-on-year to ₹219 crore, with an improved EBITDA margin of 11% compared to 10% in the same period last year. For the nine-month period of FY26, consolidated revenue stood at ₹5,820 crore with an EBITDA of ₹658 crore.
The Phenolics segment showed consistent performance with revenues of ₹1,334 crore and EBIT of ₹145 crore, a 20% year-on-year increase, driven by higher phenol and acetone volumes. The Advanced Intermediates segment recorded revenue of ₹652 crore, an 18% year-on-year growth, though EBIT was impacted by pricing pressures.
Mentioned as a defining milestone, the strategic integration and ramp-up of new capacities, including the nitric acid plant and nitration/hydrogenation plant, are complete, enhancing raw material security and margins. The MIBK/MIBC project is targeted for commissioning within the current quarter, and the polycarbonate project is progressing with plant dismantling in Germany underway for relocation to India.
The company is also accelerating its transition to green energy, sourcing 60-70% from hybrid renewable sources. Management expressed optimism for Q4 FY26 performance, supported by favorable shifts in U.S.-India trade policy, removal of anti-dumping duty by the U.S. on sodium nitrite exports, and the India-EU trade deal. The company also highlighted the successful manufacturing of its 2 millionth tonne of phenol.
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