Deepak Fertilisers and Petrochemicals

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Deepak Fertilisers and Petrochemicals Corporation Limited
Company type Public
BSE:  500645
NSE:  DEEPAKFERT
Industry Chemicals
Founded1979
Headquarters
Mundhwa, Pune, Maharashtra
,
India
Key people
Chimanlal Mehta (Founder)
Sailesh Mehta (Chairman) [1]
Products Fertiliser, industrial chemicals
RevenueIncrease2.svg₹11,300 crore (US$1.4 billion) (FY23) [2]
Increase2.svg₹1,120 crore (US$140 million) (FY23) [2]
Subsidiaries
  • Smartchem Technologies Ltd.
  • Deepak Nitrochem Pty Ltd. (Australia)
Website www.dfpcl.com

Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) is an Indian manufacturer of industrial and agricultural chemicals, crop nutrients, and fertilisers. [3]

Contents

History

The company was established in 1979 by Chimanlal Mehta born in Jain family from Gujarat, as a private limited company and became public limited in 1982. [1] [4] The company has marketed fertilizers under the brand name of "Mahadhan" since 1990. [5] The chairman of the company, Sailesh Mehta, is the son Chimanlal Mehta, who is also the founder of Deepak Nitrate, a chemicals company. [6] Mehta is also the brother of Deepak Mehta, the chairman of Deepak Nitrate. [6]

Restructuring

In January 2018, the company underwent restructuring after approval from National Company Law Tribunal (NCLT) and formed a wholly owned subsidiary Smartchem Technologies Ltd which covered the portfolios of fertiliser and technical ammonium nitrate. [7] In July 2018, Smartchem reported sale of 35,000 tonnes in Maharashtra and Gujarat of their newly launched organic compound coated NPK complexes (Nitrogen (N), Phosphorus (P), and Potassium (K)) and branded as "Mahadhan Smartek". [8]

Products & services

Fertilisers and Petrochemicals

The company's products include nitric acid, low-density prilled ammonium nitrate, ammonium nitrophosphate (ANP), methanol and methanol-based resins, dry ice, isopropyl alcohol (IPA) and threose nucleic acid (TNA). [5] DFPCL is one of the five major Indian companies that produce methanol. [9]

Mining Chemicals

DFPCL is also a producer of Technical Ammonium Nitrate (TAN), which is used in the agricultural and chemical industries and as an explosive in the mining and infrastructure industries. [10] Until 2014, imports of TAN from Russia and Ukraine in loose form were high. [10] TAN has also been used by anti-social elements and naxalites in terrorism-related activities in combination with fuel oil to create the explosive product ANFO. [10] [11] The control and guidelines on TAN manufacturing and supply have since been made stringent by government. According to Indian Ammonium Nitrate Manufacturers' Association (IANMA), TAN market in India in 2012 was of nearly 650-700 thousand tonnes a year; and DFPCL sold 200 thousand tonnes although their installed capacity was nearly 500 tonnes per year. [11] Conforming to stringent government regulations, DFPCL has introduced a GPS system for trucks transporting TAN to keep better surveillance. [10]

Plants

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Locations of corporate office and plants

The company has a corporate and registered office in Pune, Maharashtra and four productions plants in various locations in India: [12]

Real estate

The company owns a mall named Creaticity in Pune, Maharashtra, occupying a site of over 10 acres (4.0 ha) in area. [13] The mall, previously called Ishanya, was renamed in 2018. Before the 2018 revamping, which cost around ₹10 crore (US$1.3 million), the mall focused on furniture. [14] The mall now houses around 100 outlets selling home furnishings, food, beverages, entertainment and sports. [13]

Calamities

The company has faced shutdown due to 2005 monsoon floods when its Taloja plant was submerged. [1] In May 2014, on the request of the Department of Fertilisers, the Petroleum Ministry stopped the supply of domestic natural gas to Taloja plant, citing the use of the cheap domestic gas to manufacture non-subsidised crop nutrients. DFPCL moved Delhi High Court against this move. [15] DFPCL in June 2015 switched to imported RLNG as feedstock to avoid further loss of production. [16]

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References

  1. 1 2 3 Datta, Aveek (7 September 2017). "Deepak Fertilisers: On fertile ground". Forbes India. Retrieved 18 June 2019.
  2. 1 2 "Deepak Fertilisers' Q4 profit after tax declines 9% to Rs 257 crore". Business Standard. Retrieved 6 July 2023.
  3. ↑ "Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) — Analyst Report" (PDF). Indbank Merchant Banking Services . 22 October 2012. Retrieved 23 April 2022.
  4. ↑ "Company history". Business Standard. Retrieved 18 June 2019.
  5. 1 2 "Deepak Fertilisers - Company Info". Economic Times. Retrieved 24 June 2019.
  6. 1 2 Gupta, Arbind (1 June 2021). "Deepak Fertilisers gets future-ready". businessindia.co. Retrieved 9 May 2022.
  7. ↑ "Deepak Fertilisers completes demerger of core businesses". The Hindu. 5 May 2017. Retrieved 24 June 2019.
  8. ↑ "Deepak Fert arm says new complexes see good response". The Hindu. 17 July 2018. Retrieved 25 June 2019.
  9. ↑ Dr. Saraswat, V. K. "India's Leapfrog to Methanol Economy" (PDF). NITI Aayog. p. 5. Retrieved 13 June 2019.
  10. 1 2 3 4 "Deepak Fertilizers in expansion mode". Business Standard. 11 April 2014. Retrieved 25 June 2019.
  11. 1 2 Raote, Rrishi; Sharma, Aabhas (14 August 2012). "Special: Why ammonium nitrate is favourite tool of terror". Rediff. Retrieved 25 June 2019.
  12. ↑ "Locations: DFPCL". DFPCL. 29 April 2017. Retrieved 25 June 2019.
  13. 1 2 "Deepak Fertilisers rejigs realty division". The Hindu. 6 April 2018. Retrieved 24 June 2019.
  14. ↑ "Ishanya in revamp mode, eyes profits". Times of India. 3 April 2018. Retrieved 30 July 2019.
  15. ↑ "Deepak Fertilisers moves court as RIL, GAIL cut off gas". Financial Express. 16 May 2014. Retrieved 25 June 2019.
  16. ↑ "Deepak Fertilisers resumes production at its Taloja plant". Economic Times. 23 June 2015. Retrieved 25 June 2019.
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