/ -- - Standalone Revenues at Rs. 487.8 crore vs. Rs. 399.3 crore in Q4 FY18, up by 22% - EBITDA at Rs. 110.7 crore vs. Rs. 55.4 crore in Q4 FY18, growth of 100% - Standalone PAT at Rs. 56.6 crore vs. Rs. 20.3 crore in Q4 FY18, higher by 178% - Consolidated Quarterly Turnover crosses Rs. 1,000 crore milestone in Q4 FY19 - Supported by strong performance of Phenol & Acetone plant Consolidated PBT grows 142% yoy to Rs. 268 crore in FY19 - Total Turnover for FY19 stands at Rs. 2,715 crore - Board recommends dividend of Rs. 2 per share for FY19 (100% of FV)
Commenting on the performance, Mr. Deepak C. Mehta, Chairman & Managing Director, said,
The Board has recommended a higher dividend of Rs. 2 per share in FY19 amounting to 100% of Face Value to share the benefits of the robust performance and sustain the value creation focus towards all stakeholders."
Financial Highlights (Standalone)
Q4 FY2019
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Revenues were Rs. 487.8 crore in Q4 FY19 compared to Rs. 399.3 crore in Q4 FY18, higher by 22% Y-o-Y. The Q4 performance is testament to the strategic choices of products identified for capacity expansion at the start of the fiscal. Apt assessment of market demand enabled DNL to reap benefits from higher realisations across key products even as overall volume growth was 11% yoy. EBITDA stood at Rs. 110.7 crore, higher by 100% as against to Rs. 55.4 crore reported in the same period last year. EBITDA margins improved sharply by 880 basis points to 22.7%, as compared to 13.9% in Q4 FY18. The Company's efforts at running plants at optimum capacities with streamlined processes were more than supported by the developments in the China market, all of which has combined to contribute to the enriched margin profile. PBT stood at Rs. 87.0 crore in Q4 FY19 increasing by a commendable 182% over Rs. 30.1 crore in the same period last year. Outstanding growth in PAT by 178% yoy to Rs. 56.6 crore in Q4 FY19 as compared to Rs. 20.3 crore in Q4 FY18. EPS for Q4 FY19 stood at Rs. 4.15 per share (of face value of Rs. 2 each) on an enlarged capital base as compared to Rs. 1.51 per share in Q4 FY18. Performance Highlights
Domestic revenues stood at Rs. 344.5 crore in Q4 FY19 from Rs. 243.3 crore in the same period last year, delivering strong growth of 42% Y-o-Y. DNL's cost leadership and position as the only backward integrated plant in the world for OBA has enabled it to capitalise on evolving market opportunities for the Performance Products segment due to shutdown of capacities in China. This, along with expansion in key building blocks enabled us to cater to higher demand from end user industries resulting in robust topline growth. Revenues from exports came in at Rs. 138.4 crore in Q4 FY19 compared to Rs. 147.3 crore in Q4 FY18. Export performance was flat due to extended production schedules and transit timelines for select products, the impact of which is transitionary in nature. Export revenues are expected to recover in the subsequent quarter. Update on Deepak Phenolics Ltd. Deepak Phenolics Ltd. (DPL), a wholly-owned subsidiary of Deepak Nitrite Ltd., commenced commercial production at its Mega-Plant of Phenol & Acetone on 1st November, 2018. This facility, aligned with the 'Make in India' initiative of Government of lndia, has capacity to manufacture 200,000 MTPA of Phenol and 120,000 MTPA of its co-product Acetone. This is supported by capacity to manufacture 260,000 MT of Cumene for captive consumption. DPL is well positioned to benefit from strong demand growth in the local market for these products. Following are some of the key milestones achieved by Deepak Phenolics Ltd. in Q4 & FY19:
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