Deepak Fert net up 16.5%; to pay 30% dividend

Deepak Fertilisers and Petrochemicals Corporation Ltd announced a 46 per cent growth in sales from Rs 595.49 crore in 2005-06 to Rs 869.43 crore in 2006-07. Net profit grew 16.5 per cent to Rs 92.93 crore from Rs 79.77 crore.

Earnings per share, as a consequence, has grown from Rs 9.04 to Rs 10.54. The board of directors announced a 30 per cent dividend for the financial year 2007.

Fertiliser sales showed a robust 60 per cent growth to touch Rs 299.73 crore and contributed 36 per cent to the company's top line. The chemicals business, including ammonium nitrate, methanol, iso-propyl alcohol, nitric acid, carbon dioxide, hydrogen and propane, grew 42 per cent with sales of Rs 532.66 crore.

Mr S.C. Mehta, Vice-Chairman & Managing Director, Deepak Fertilisers, said that the growth was a consequence of the deft capitalisation on market opportunity through a combination of in-house manufacturing and strategic outsourcing. The company's fourth quarter revenue for the fiscal just ended stood at Rs 223.45 crore against Rs 180.23 crore in the corresponding quarter of the previous fiscal. PBT stood at Rs 38.77 crore against Rs 34.23 crore, while the net profit was Rs 27.75 crore against Rs 26.83 crore.