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Deepak Fertilizers & Petrochemicals Corp Ltd

BSE Code : 500645 | NSE Symbol : DEEPAKFERT | ISIN:INE501A01019| SECTOR : Chemicals |

NSE BSE
 
SMC up arrow

143.25

0.35 (0.24%) Volume 280564

23-Oct-2020 EOD

Prev. Close

142.90

Open Price

142.35

Bid Price (QTY)

143.25(466)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 144.90 - 142.35

52 wk High/Low 187.13 - 55.41

Key Stats

MARKET CAP (RS CR) 1469.31
P/E 11.62
BOOK VALUE (RS) 171.5803272
DIV (%) 30
MARKET LOT 1
EPS (TTM) 12.31
PRICE/BOOK 0.834011697816601
DIV YIELD.(%) 1.82
FACE VALUE (RS) 10
DELIVERABLES (%) 65
4

News & Announcements

24-Oct-2020

Deepak Fertilizers & Petrochem. Corp. schedules board meeting

20-Oct-2020

Deepak Fertilizers & Petrochemicals Corp Ltd - Deepak Fertilizers And Petrochemicals Corporation Limited - Allotment of Securities

15-Oct-2020

Deepak Fertilizers & Petrochemicals Corp Ltd - Deepak Fertilizers And Petrochemicals Corporation Limited - Updates

14-Oct-2020

Deepak Fertilizers & Petrochemicals Corp Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

24-Oct-2020

Deepak Fertilizers & Petrochem. Corp. schedules board meeting

12-Oct-2020

Deepak Fertilizers & Petrochemicals Corp's right issue oversubscribed

06-Oct-2020

Deepak Fertilizers & Petrochemicals' arm allots CCDs to IFC

28-Sep-2020

Deepak Fertilizers & Petrochem. Corp. schedules board meeting

Corporate Actions

Bonus
Splits
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Book Closure
Board Meeting
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Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
A-1 Acid Ltd 542012
Aarti Industries Ltd 524208 AARTIIND
Aarti Surfactants Ltd 543210 AARTISURF
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Advanced Enzyme Technologies Ltd 540025 ADVENZYMES
Akzo Nobel Chemicals (India) Ltd 500082 CENTAKCHEM
Alang Industrial Gases Ltd 531517
Alkali Metals Ltd 533029 ALKALI
Alkyl Amines Chemicals Ltd 506767 ALKYLAMINE
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Alufluoride Ltd 524634
Ambani Organics Ltd 535097 AMBANIORG
Amex Carbonates & Chemicals Ltd 531321
Amines & Plasticizers Ltd 506248
Aminex Chemicals Ltd (Wound-up) 524386
Amit Alcohol & Carbon Dioxide Ltd (Merged) 506904
Anan Drug & Chem Ltd 531999
Andhra Petrochemicals Ltd 500012 ANDHRAPET
Anjana Explosives Ltd 40329
Archit Organosys Ltd 524640
Arvin Liquid Gases Ltd 523404
Ashok Alco-Chem Ltd 524594 ASHOKALCO
Asian Petroproducts & Exports Ltd 524434
Asiatic Oxygen Ltd 40030
Avikem Resins Ltd 523784
Avon Lifesciences Ltd 531541
B L Industries (India) Ltd 530637
Balaji Amines Ltd 530999 BALAMINES
Barium Chemcials Ltd 506275
Baroda Carbons Ltd 523527
BASF India Ltd 500042 BASF
Benzo Petro International Ltd 524737
Benzo Petrochemicals Ltd (Wound Up) 524196
Bhagawati Gas Ltd 500051 BAGWATIGAS
Bhagawati Oxygen Ltd 509449
Bhuruka Gases Ltd 509728
Bhuvan Tripura Industries Ltd 524725
Binaca Synthetic Resins Ltd 514344
Borax Morarji Ltd(Merged) 506315
Burmah Petro Products Ltd 40310
C J Gelatine Products Ltd 507515
Cabot India Ltd 506700 CABOTINDIA
Camlin Fine Sciences Ltd 532834 CAMLINFINE
Canvay Chemicals Ltd 531535
Caprolactam Chemicals Ltd 507486
Carbon & Chemicals India Ltd (Merged) 505813
Castrol India Ltd 500870 CASTROLIND
Cellulose Products of India Ltd 506345
Chembond Chemicals Ltd 530871 CHEMBOND
Chemcon Speciality Chemicals Ltd 543233 CHEMCON
Chemcrux Enterprises Ltd 540395
Chemfab Alkalis Ltd 541269 CHEMFAB
Chemiesynth (Vapi) Ltd 539230
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Chimique Laboratories (India) Ltd 40300
Ciba India Ltd(merged) 532184 CIBASPEC
Cilson Organics Ltd 532147
Citric India Ltd 506370
Citurgia Biochemicals Ltd 506373 CITURGIBIO
Clariant (India) Ltd(merged) 500373 CLARIANT
Clariant Chemicals (India) Ltd 506390 CLNINDIA
Clarisis Organics Ltd 524806
Claro India Ltd 524366
Cochin Minerals & Rutile Ltd 513353
Continental Petroleums Ltd 523232
Core Organics Ltd 524466
Crestchem Ltd 526269
Dai-ichi Karkaria Ltd 526821 DAICHIKARK
Deccan Petroleums Ltd 526375
Deepak Nitrite Ltd 506401 DEEPAKNTR
Dharamsi Morarji Chemicals Co Ltd 506405 DHARAMORAR
DIC India Ltd 500089 DICIND
Diviya Chemicals Ltd 506810
Doctors Biotech India Ltd 512079
Dujodwala Paper Chemicals Ltd 524276
Elantas Beck India Ltd 500123 DRBECK
Ellenbarrie Industrial Gases Ltd 590087
Emmessar Biotech & Nutrition Ltd 524768
EPIC Enzymes Pharma & Industrial Chemicals Ltd 524374
Excel Industries Ltd 500650 EXCELINDUS
Ficom Organics Ltd(merged) 506443 FICOMORGAN
Fine Organic Industries Ltd 541557 FINEORG
Fineotex Chemical Ltd 533333 FCL
Fischer Chemic Ltd 524743
Foseco India Ltd 500150 FOSECOIND
Futuristic Offshore Services and Chemical Ltd 500154 GANESHANHY
Gagan Gases Ltd 524624
Galaxy Oleo-Chem (India) Ltd 40207
Ganesh Benzoplast Ltd 500153 GANESHBENZ
GBL Industries Ltd 539009
GFL Ltd 500173 GFLLIMITED
GHCL Ltd 500171 GHCL
Glory Chemicals Ltd 531532
Goa Carbon Ltd 509567 GOACARBON
GOCL Corporation Ltd 506480 GOCLCORP
Godrej Industries Ltd 500164 GODREJIND
Goiex Michio Sudo Ltd 507978
GOM Industries Ltd 523802
Goodearth Industries Ltd 526929
Goodearth Organic (India) Ltd [Wound-up] 524300
Govind Poy Oxygen Ltd 509586
GP Petroleums Ltd 532543 GULFPETRO
Grauer & Weil (India) Ltd 505710
Gresoil (India) Ltd 530483
Gujarat Carbon & Industries Ltd 506457
Gujarat Fluorochemicals Ltd 542812 FLUOROCHEM
Gujarat Indo-Lube Ltd 523552
Gujarat Oiland Industries Ltd (Wound Up) 507866
Gujarat Organics Ltd 501368
Gujarat Speciality Lubes Ltd 523880
Gujchem Distillers India Ltd 506640
Gulf Oil India Ltd - Merged 511026 GULFOIL
Gulf Oil Lubricants India Ltd 538567 GULFOILLUB
Gulshan Polyols Ltd 532457 GULPOLY
Gulshan Sugars & Chemicals Ltd(merged) 524184
Haryana Leather Chemicals Ltd 524080
Hemo Organic Ltd 524590
Hico Products Ltd 506461
Hilltone Industrial Gases Ltd 40441
Himadri Speciality Chemical Ltd 500184 HSCL
Hindcon Chemicals Ltd 535053 HINDCON
Hindustan Industrial Chemicals Ltd 524679 HINDINDCHM
Hindustan Organic Chemicals Ltd 500449 HOCL
Hindustan Oxygen Gas Ltd 509660
Hubergroup India Pvt Ltd 523886 MICRO
I G Petrochemicals Ltd 500199 IGPL
IBP Co. Ltd(merged) 500198 IBP
Iccon Oil & Specialities Ltd 523766
India Carbon Ltd 40012
India Gelatine & Chemicals Ltd 531253
India Glycols Ltd 500201 INDIAGLYCO
Indian Electro Chemicals Ltd 506490
Indo Amines Ltd 524648
Indo Borax & Chemicals Ltd 524342
Indo Gulf Industries Ltd 506945
Indo Vanillon Chemicals Ltd 531267
Indu Nissan Oxo Chemicals Industries Ltd 500208 INDUNISSAN
Inox Air Products Pvt Ltd 526534 INDOXYGEN
Insilco Ltd 500211 INSILCO
Iota Chemiculture Ltd(Liquidated) 524630
IVP Ltd 507580 IVP
J F Laboratories Ltd 523804 JFLABS
J.R. Organics Ltd 506650
Jay Agrochem Ltd (Wound Up) 513504
Jayant Agro Organics Ltd 524330 JAYAGROGN
Jocil Ltd 500561 JOCIL
Jyoti Resins and Adhesives Ltd 514448
K P Gelatines & Chemicals India Ltd (Wound-up) 524741
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Kanchi Karpooram Ltd 538896
Kanva Hydro Chem Ltd 524685
Karnataka Chemical Industries Corp Ltd 530105
Karnav Leather Chemicals Ltd 524432
Kavit Industries Ltd 524444
Keltech Energies Ltd 506528
Kesar Petroproducts Ltd 524174
Kilburn Chemicals Ltd 524699
Kings India Chemicals Corporation Ltd 524214
Kothari Polymers Ltd 40360
Krishna Plastochem Ltd (Wound Up) 524254
Laffans Petrochemicals Ltd 524522
Lime Chemicals Ltd 507759
Linde India Ltd 523457 LINDEINDIA
Link Pharma Chem Ltd 524748
Lords Chemicals Ltd 530039
M.P. Carbide & Chemicals Ltd 506925
Madras Petrochem Ltd 500261
Maha Chemicals Ltd (Wound-up) 524556
Maharashtra Explosives Ltd (Wound-up) 506871
Maharashtra Polybutenes Ltd 524232
Mangalam Organics Ltd 514418
Mark Omega Organic Industries Ltd 524681
Maruti Industrial Carbohydrates Ltd 524814
Maruti Organics Ltd 524402 MARUTIORNG
Master Chemicals Ltd 506867
Mehta Rubber Chemcials Ltd 526536
Mehta Sulfites (India) Ltd 530029
mk Aromatics Ltd 531011
Modipon Ltd 503776 MODIPON
Motorol (I) Ltd 508965 MOTOROL
Motorol Enterprises Ltd 523049 RINKIPETRO
Motorol Speciality Oils Ltd 506954
MTZ Industries Ltd 500275 METAZINC
Murablack India Ltd 523578 MURABLACK
Mysore Petro Chemicals Ltd 506734 MYSORPETRO
Nacro Chemicals Ltd 524350
Nariman Point Chemical Industries Ltd 524224
Narmada Gelatines Ltd 526739 SHAWGELTIN
National Oxygen Ltd 507813 NOL
National Peroxide Ltd 500298 NATPEROXID
Navin Fluorine International Limited 532504 NAVINFLUOR
Neogen Chemicals Ltd 542665 NEOGEN
Newton Engineering & Chemicals Ltd 524474
Nikhil Adhesives Ltd 526159
Niraj Petrochemicals Ltd 500454 NIRAJPETRO
Nitta Gelatin India Ltd 506532 KERALACHEM
NLC Nalco India Ltd 524101 NALCOCHEM
Noble Explochem Ltd 506991
NOCIL Ltd 500730 NOCIL
Nova Chemie (India) Ltd 40188
Ojas Technochem Products Ltd(wound-up) 526427
Omkar Pharmachem Ltd 532167
Omkar Speciality Chemicals Ltd 533317 OMKARCHEM
Organic Coatings Ltd 531157
Orient Organics Ltd 524766
Oriental Aromatics Ltd 500078 OAL
Oriental Carbon & Chemicals Ltd 506579 OCCL
Orissaa Organics Ltd 524392
Oswali Chemicals Ltd 506916
Padmanabh Industries Ltd 526905
Paintex Chemicals (Bombay) Ltd 524178
Partap Industries Ltd 531926
Paschim Petrochem Ltd 531005
Pentasia Chemicals Ltd (Merged) 507739
Pentokey Organy (India) Ltd 524210
Phillips Carbon Black Ltd 506590 PHILIPCARB
Pidilite Industries Ltd 500331 PIDILITIND
Pinky Chemicals Ltd 524671
Plastiblends India Ltd 523648 PLASTIBLEN
POCL Enterprises Ltd 539195
Poddar Pigments Ltd 524570 PODDARMENT
Polyolefins Industries Ltd (Merged) 506610
Pondy Oxides & Chemicals Ltd 532626 PONDYOXIDE
Premier Explosives Ltd 526247 PREMEXPLN
Privi Speciality Chemicals Ltd 530117 PRIVISCL
Prolife Industries Ltd 538392 PROLIFE
Protchem Industries (India) Ltd 524117
Punjab Chemicals & Crop Protection Ltd 506618 PUNJABCHEM
Rain Calcining Ltd(merged) 532153 RAINCALCIN
Rathi India Ltd 506959
Refex Industries Ltd 532884 REFEX
Refnol Resins & Chemicals Ltd 530815
Rencal Chemicals (India) Ltd 524510
Resonance Specialities Ltd 524218
Revati Organics Ltd 524504
Rhodia Specialty Chemicals India Ltd(Merged) 506230 ALBRMORARJ
Ritesh International Ltd 519097
Rock Hard Petro Chemical Industries Ltd 524194
Rossari Biotech Ltd 543213 ROSSARI
Rukmani Metals & Gaseous Ltd 40695
S H Kelkar & Company Ltd 539450 SHK
S K R Chemicals Ltd 530371
Salvigor Laboratories Ltd (Merged) 524268
Sanderson Industries Ltd 507728 SANDERIND
Sanginita Chemicals Ltd 538408 SANGINITA
Sarang Chemicals Ltd 532031
Searsole Chemicals Ltd (Wound-up) 506644
Seya Industries Ltd 524324 SEYAIND
Shaba Chemicals Ltd 524546
Shaper Chemicals Ltd (Wound-up) 524566
Shayona Petrochem Ltd 531538
Shentracon Chemicals Ltd 530757
Shree Benzophen Industries Ltd 531389
Shree Neelachal Laboratories Ltd 531487
Shri Ambuja Petro Chemicals Ltd 506742
Shri Aster Silicates Ltd 533219 SHRIASTER
Shri Nicosect Ltd 526437
SI Group - India Ltd 506460 SIGROUPIND
SMZS Chemicals Ltd(wound-up) 524160 SMZSCHEM
Solar Industries India Ltd 532725 SOLARINDS
Sonal Sil Chem Ltd 524673
Southern Gas Ltd 509910
Speciality Petrolubes Ltd 523525
Sree Rayalaseema Hi-Strength Hypo Ltd 532842 SRHHYPOLTD
Sree Rayalaseema Petrochemicals Ltd (Merged) 524618
Sreechem Resins Ltd 514248
SRHHL Industries Ltd (Merged) 524410 SRHHLINDST
Sterling Biotech Ltd 512299 STERLINBIO
Sudev Chemicals Ltd 40666
Sun Star Chemicals Ltd 524536 SUNSTRCHEM
Sunshield Chemicals Ltd 530845
Sunstar Lubricants Ltd 524452 SUNSTARLUB
Superior Air Products Ltd (Merged) 526469
Swarnajyothi Agrotech & Power Ltd 590090
Tamil Nadu Industrial Explosives Ltd 524028
Tanfac Industries Ltd 506854 TANFACIND
Tata Chemicals Ltd 500770 TATACHEM
TCM Ltd 524156
TECIL Chemical & Hydro Power Ltd 506680 TECILCHEM
Tetrahedron Ltd 40308
Thirani Chemicals Ltd (Merged) 524125
Thirumalai Chemicals Ltd 500412 TIRUMALCHM
Tide Water Oil Co (I) Ltd 590005 TIDEWATER
Tirupati Inks Ltd 533258
Transpek Industry Ltd 506687 TRANSPEK
Tria Fine Chem Ltd 524721
Tribology India Ltd 40171
Trigon Zinco Ltd 530287
Tulasee Bio-Ethanol Ltd 524514
Tyche Industries Ltd 532384
U P Lime Chem Ltd 524677
Unique Oils India Ltd 523250
Urvi Chemicals & Allied Industries Ltd 501371
Vadilal Chemicals Ltd 40485
Vadivarhe Speciality Chemicals Ltd 538429 VSCL
Valiant Organics Ltd 540145 VALIANTORG
Vasundhara Rasayans Ltd 538634
VBC Industries Ltd 524310
Vibros Organics Ltd 530487
Vijayshree Chemicals (India) Ltd 524312
Vikas Wsp Ltd 519307 VIKASWSP
Vinati Organics Ltd 524200 VINATIORGA
Vishnu Chemicals Ltd 516072 VISHNU
Vision Organics Ltd 532383 VISIONLTD
Yasho Industries Ltd 541167

Share Holding

Category No. of shares Percentage
Total Foreign 2496227 2.80
Total Institutions 1637651 1.84
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 46602521 52.20
Total Public & others 38548026 43.17
Total 89284425 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Deepak Fertilizers & Petrochemicals Corp Ltd

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) is the leading manufacturer of industrial chemicals in India. It is one of the major manufacturers of Nitric Acid, Iso Propyl Alcohol (IPA), Food Grade Liquid Carbon Dioxide and Methanol. The manufacturing facilities of the Company are located at Taloja, Maharashtra and Dahej, Gujarat. The Company imports and supplies very few selected solvents to maintain its leadership position domestically. The Company is engaged in the business of fertilisers, agri services, bulk chemicals, mining chemicals and value added real estate. It has a strong distribution network of 50 channel partners and direct relationships with 600 industrial customers in India and globally. The company owns India's most significant Technical Ammonium Nitrate (TAN) complex which produces Ammonium Nitrate (AN) Melt, High-density AN and Low-density AN. DFPCL is India's largest TAN (Solids) manufacturer and is also one of the world's top 5 largest merchant TAN manufacturers. It enjoys a 45% market share in the segment with about 85% plus capacity utilisation. The company accounts for 45% of the domestic market and 2.5% of the global production of TAN. DFPCL is one of the largest producers and importers of industrial chemicals in India, with Nitric Acid and Solvents being its key flagship products. Currently, the Company remains the only manufacturer of Iso Propyl Alcohol (IPA) in India, enjoying a significant leadership position with 85% market share. DFPCL is the largest manufacturer of Nitric Acid in Asia, having the largest integrated nitric acid plant with a manufacturing capacity of around 7,00,000 MT of Diluted Nitric Acid (DNA) and 1,38,600 MT of Concentrated Nitric Acid (CNA). In its trading business, the company imports solvents such as Acetone, Toluene, IPA, Methanol, Hexane, Mixed Xylene and Phenol to cater the needs of pharmaceuticals, inks and coatings, paints, pesticides and the agrochemical industries. The company is the key partner of solvent producers in South East Asia, Middle East, Europe and China for the import of these solvents in India. The Value-Added Real Estate business of the company comprises of a lifestyle retail centre - Creaticity' (previously Ishanya) in Pune, with around 4,00,000 sq. ft. of retail space. Creaticity has been focused on a three-pronged category strategy comprising of Home and Living, F&B and Entertainment. Deepak Fertilisers and Petrochemicals Ltd was incorporated in the year May 31, 1979 as a private limited company and in the year 1982, they became a public company. In the year 1983, the company in technical collaboration with Fish International Engineers of USA started commercial production of ammonia using natural gas as feedstock. The International Finance Corporation initially supported this venture in the form of equity participation. The company undertook major expansion and diversification in 1989 to achieve forward integration of ammonia and diversification in Methanol. In July 1992, the company commenced commercial production of Low Density Ammonium Nitrate, Nitro Phosphate, Dilute Nitric Acid, and Concentrated Nitric Acid. Later, they diversified into specialty retailing with Ishanya, India's largest Design Centre and Specialty Mall for interiors and exteriors. During the year 2001-02, the company in technical collaboration with Grande Praoisse of France expanded the capacity of Nitro Phosphate fertilizer plant to 3,00,000 tpa and Low Density Ammonium Nitrate plant to 1,00,000 tpa. During the year 2003-04, the company acquired equity shares of Smartchem Technologies Ltd and thus STL became the subsidiary of the company. During the year 2004-05, the company has incorporated a wholly owned subsidiary, namely Deepak Nitrochem Pty Ltd in Australia to explore investment opportunities triggered by the growth in mining operations. The company commissioned the Automatic Bagging Plant in NP and Ammonium Nitrate. Also they installed and commissioned the 9MW captive co-generative plant during the year. During the year 2004-05, the company increased the installed capacity of Concentrated Nitric Acid by 23100 MT and with this expansion the total installed capacity increased to 79200 MT. In August 2006, the company commissioned their IPS plant and in March 2007, the company received the ISO 9001-2000 certification for the manufacture and supply of Methanol and Iso Propyl. In February 2008, the company and Yara International ASA signed a Heads of Agreement with the intention of establishing a joint venture company to produce and market ammonium nitrate and speciality fertilisers in India. ISHANYA, India's largest Design Centre and Specialty Mall, for interiors and exteriors open its first 25 outlets with over 5000 brands. The company has decided to set up another 450 TPD Dilute Nitric Acid plant at Taloha. It is expected that the plant will be commissioned during the first quarter of FY10. Also, the company has undertaken a project to build an Ammonia storage facility at the JNPT port to facilitate imports. The company is expanding their diluted nitric acid capacity to 1350 MT/day from 900 MT/day by June 2009 with a total investment of Rs. 110 crore. Also, the company plans to foray into contract mining operations as part of a strategic growth initiative. They are looking to enter into third party open cash mining of coal, limestone and other minerals, which has massive growth potential. During 2009-10, DFPCL's agri-business continued its focus on integrated nutrient management and providing crop specific, soil specific advisory services to the farmers, through its Saarrthie Centres, to build brand loyalty, enhance produce quality and farm productivity. The company also expanded its geographical footprint by moving into states like Punjab & Haryana in addition to the traditional markets of Maharashtra, Gujarat, Karnataka and Goa. During the year, DFPCL recorded the highest production and sale of Iso Propyl Alcohol (IPA) with the increased availability of propylene. The company recorded the highest production of all Nitric Acid put together, including the highest production of 87,596 MT of Concentrated Nitric Acid (CAN) in 2009-10, surpassing the earlier high of 84,971 MT in the previous financial year. Post-Diwali 2009, a positive rebound has begun and consumer spending at DFPCL's mall Ishanya is on the increase. During the year, the company borrowed long-term funds of Rs. 241 crores for part financing project costs. In addition, there were short-term borrowings of Rs. 122.16 crores. During the financial year ended 31 March 2014, for the first time in the history of the company, DFPCL's fertilisers sales crossed Rs. 1,000 Crore, growing to Rs. 1,410 Crore from Rs. 995 Crore in the preceding year. While home and interiors will remain the prime focus DFPCL's mall Ishanya, during the year, the company recalibrated its business strategy to attract more retailers and shoppers by inviting brands from an equally exciting and growing category of Food and Beverages (F&B) linked with Entertainment. An area of around 40,000 sq. ft. has been allocated to F&B and the company is in active stage of progress to launch this category. During the financial year ended 31 March 2014, DFPCL acquired 49,993 Equity Shares (i.e. 99.99%) and has also acquired beneficial interest of remaining 7 Equity Shares (i.e. 0.01%) of SCM Soilfert Limited. Therefore, SCM Soilfert Limited became wholly owned subsidiary of the company. During the year under review, DFPCL's wholly owned subsidiary SCM Soilfert Limited (SSL), acquired 2,89,91,150 Equity Shares (i.e. 24.46%) of Mangalore Chemicals & Fertilizers Limited (MCFL). Further on 23 April 2014 SSL, acquired 10,01,309 Equity Shares (i.e. 0.8%) of MCFL and made an Open Offer for acquiring 3,08,13,939 Equity Shares (i.e. 26%) to the public share-holders of MCFL at a price of Rs. 63 per Equity Share pursuant to the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. DFPCL is 'person acting in concert' (PAC) in the Open Offer. DFPCL's operations were adversely affected during the financial year ended 31 March 2015, in view of the stoppage of supply of domestic gas pursuant to an order by Ministry of Petroleum & Natural Gas (MoPNG) w.e.f. 15 May 2014. The company has since challenged the order of MoPNG in the High Court of Delhi. All proceedings in the High Court of Delhi have been completed and the final order is awaited. As a result of stoppage of supply of domestic natural gas the company's Nitrophosphate plant at Taloja has been closed since 15 May 2014. The company's Crop Nutrition business extended its reach to new markets (Tamil Nadu, Andhra Pradesh) in South India during FY2014-15. The company's Farm Produce business broke even during FY 2014-15, steered by a more robust business model and greater access to new markets. As part of its forward integrated linkages, DFPCL is operating 12 Saarrthie Centres, located across its core command area, since 2006. With strong linkages between nutrient management and product output management, these centres continued to boost last-mile connectivity for farmers during the year under review through advisory and other services. The Ammonium Nitrate Rules introduced by the Government of India relate to logistics management, post production and the import of Ammonium Nitrate. The Rules, implemented from 11 January 2014 are aimed at regulating storage, handling transportation and possession for sale or use of Technical Ammonium Nitrate (TAN). DFPCL has completed the process of adoption of these stringent Rules during the year and now fully complies with them. Despite pricing being a challenge, DFPCL achieved record-breaking production and sales of Iso Propyl Alcohol in the three consecutive months of the last quarter of FY 2014-15. Breaking its all time records in terms of production for three consecutive months, from January to March 2015, DFPCL reported its highest ever production numbers Concentrated Nitric Acid. With regard to Value-Added Real Estate business, DFPCL Ishanya mall in Pune helped enhance retailer sales by creating special schemes leading to greater visibility for Ishanya in the core category of home decor and interiors. The mall embarked on a smart strategy of building experiential spaces and allocated 30% of space to food & beverage (F&B) and entertainment. This strategy was kickstarted during FY 2013-14 with Blue Frog - Live Music Performance club with F&B, which became operational during FY 2014-15 will further augment the topline growth. The division also expanded the F&B business by signing on Pub Town - Pune's pioneering concept for one-stop fine dining spread over 30,000 sq. ft.; phase 1 of 7,000 sq. ft. has become operational since early February 2015. During the financial year ended 31 March 2015, DFPCL acquired 49,993 Equity Shares (i.e. 99.99%) and has also acquired beneficial interest of remaining 7 equity shares (i.e. 0.01%) of SCM Fertichem Limited. Thereby, SCM Fertichem Limited became wholly owned subsidiary of DFPCL. Further, DFPCL's wholly owned subsidiary Smartchem Technologies Ltd. (STL), as part of its forward integration initiative, announced the launch of its overseas JV during the year for blasting services in Australia. STL has set up Platinum Blasting Services Pty Ltd, a JV with local Australian partners having vast experience in providing value-added blasting services and operational expertise to mining and explosives industries in Australia. During the year under review, DFPCL's wholly owned subsidiary SCM Soilfert Limited (SSL) acquired 70,44,397 (5.94%) equity shares of Mangalore Chemicals & Fertilisers Limited (MCFL) at a price of Rs. 93.60 per share plus interest through an open offer made by SSL in October 2014, in which DFPCL was 'person acting in concert'(PAC). Subsequent to the open offer, the shareholding of SSL reached 31.25% represented by 3,70,36,856 equity shares of MCFL. Thereafter, SSL sold 2,94,11,831 (24.82%) equity shares of MCFL in the open market through Stock Exchanges. In April/May 2015, Zuari Fertilisers and Chemicals Limited made an open offer to the shareholders of MCFL to acquire upto 36% shares of MCFL equity share capital @ Rs. 91.92 per share plus interest. In response, SSL sold 61,84,928 (5.22%) equity shares of MFCL in the aforesaid open offer. SSL continues to hold balance 1.21% equity shares of MCFL. DFPCL received an interim dividend of Rs. 705.54 Lacs from SSL during the year under review in view of the financial gain SSL received on account of the aforesaid transaction in MCFL shares. During the financial year ended 31 March 2016 (FY 2016), DFPCL attained a new benchmark in terms of Net Sales which was highest ever. The total Net Sales for the year FY16 stood at Rs 4,258.72 crore, up by 14.74% from Rs. 3,711.76 crore in FY 2015. Based on the request from the farming community and directive of Government of Maharashtra, DFPCL restarted the manufacturing of ANP fertiliser during first quarter of FY 2016 based on RLNG. The plant had remained shut since 15 May 2014 due to stoppage of Natural Gas (a key raw material) supply pursuant to an arbitrary and discriminatory order of the Ministry of Petroleum, Government of India. During this period, to complete the basket of products required by farmers, the company continued with trading of fertilisers from overseas as well as domestic producers & suppliers. Platinum Blasting Services Pty. Ltd., a joint venture in Australia and subsidiary DFPCL' wholly owned subsidiary Smartchem Technologies Limited (STL), successfully completed its 1st year of operation. During the year it bagged 3 blasting services contracts to provide value added blasting to the mining industry in Australia. During the financial year ended 31 March 2016, Platinum Blasting Services Pty Ltd. (PBS), subsidiary of Smartchem Technologies Limited, has acquired ownership interest in Australian Mining Explosives Pty. Ltd. (AME) for a consideration of AUS $ 3.7 Million. Due to the aforesaid acquisition by PBS, AME has become subsidiary of DFPCL pursuant to the provisions of the Companies Act, 2013. During the year ended 31 March 2016, DFPCL registered its highest ever production and sales of Concentrated Nitric Acid. During the year, the company introduced a special grade Nitric Acid for dairy industry. Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) commissioned its brownfield NPK (Nitrogen, Phosphorous and Potassium) granulation plant at Taloja (Maharashtra) in the fourth quarter of FY 2017, with a capacity of 6 lakh MTPA. This brownfield facility expansion is the first and the only facility in India with a unique fully automated bag loading facility. As there were huge inventories available in the channel and with the expected production of new NPK facility, the company restricted volumes of the trading business. To tackle the prevailing challenges in the external environment, the company undertook series of measures including the tracking and pushing of inventories through aggressive and structured marketing, advertising and promotional activities. The company also undertook region-specific and crop-specific initiatives on identified regions which had the maximum potential. The company is moving to a more sustainable, crop-friendly and productivity-enhancing fertiliser products. The company's ongoing product development is also focussed on developing customised crop-specific nutrient solutions. This initiative maps the global best-class practices and the company is confident that these will revolutionise the way farm inputs are consumed in India. Trial runs for the same have been carried out during FY 2017. In spite of Fertiliser Grade Ammonium Nitrate (FGAN) imports, DFPCL continued to be the market leader with a share of 36% of TAN portfolio in FY 2017. The company's Srikakulam TAN plant which was shut down for a short period due to compressor repairs and maintenance, commenced operations from the second quarter of FY 2017. This resulted in better capacity utilisation and improved availability of the product across Eastern India. Platinum Blasting Services Pty. Ltd. (PBS), a joint venture in Australia and a subsidiary of DFPCL's wholly- owned subsidiary STL, successfully completed its second year of operation. During the year, through its value-added blasting service offerings to the mining industry in Australia, it bagged 3 blasting services contracts and 4 top-up services contracts.During FY 2017, the company's Concentrated Nitric Acid (CNA) sales grew by 10% leading to highest ever sales of the product. In its Value-Added Real Estate business, DFPCL's strategy of crafting a food & beverage destination continued through the year with addition of new and exciting dining formats such as Zora, Baraza, Opus Banquets with nearly 25,000 sq. ft. of space being leased out during FY 2017. Sportainment in the form of Pune's largest indoor sports arena XLR8 opening during year, complemented the F&B initiatives. Adjacencies were leased out in the form of design institutes like Srishti School of Design and Fashion and Design institute. The National Company Law Tribunal (NCLT), vide its Order dated 30 March 2017 has approved the Scheme of Arrangement amongst the company, SCM Fertichem Limited (SCM Fertichem) and Smartchem Technologies Limited (Smartchem) and their respective shareholders and creditors involving: The slump exchange of (a) the Technical Ammonium Nitrate (TAN) undertaking of the company together with its business and operations including its manufacturing and related facilities located at (i) Taloja & Pune, Maharashtra (ii) Jawaharlal Nehru Port, Maharashtra and (iii) Paradeep and its marketing & corporate office(s) (TAN Undertaking), and (b) the Fertiliser undertaking of the company together with its business and operations including its manufacturing and related facilities located at (i) Taloja and Pune, Maharashtra (ii) Jawaharlal Nehru Port, Maharashtra and (iii) Panipat, Haryana and its marketing & corporate office(s) (Fertiliser Undertaking) (and collectively, (a) and (b) are hereinafter referred to as the 'Transferred Undertakings') of the company to SCM Fertichem, on a going concern basis (Slump Exchange); and thereafter, the subsequent demerger of the Transferred Undertakings and vesting of the same from SCM Fertichem in Smartchem, on a going concern basis, in accordance with Section 2(19AA) of the Income Tax Act, 1961 (Demerger) with effect from the Appointed Date, 1 January 2015. A certified copy of the Order passed by the NCLT was filed with the Registrar of Companies, Pune, Maharashtra on 1 May 2017. Thus the Scheme of Arrangement has become effective with effect from 1 May 2017 in terms of the provision of the said Scheme of Arrangement. Further, the National Company Law Tribunal, vide its Order dated 22 June 2017, has approved the 'Scheme of Amalgamation' providing for amalgamation of SCM Soilfert Limited, a Wholly Owned Subsidiary of the company, with the company. The Appointed Date for the said Scheme is 1 April 2015. Effective 15 May 2014, domestic gas supply to the company was arbitrarily stopped by the Ministry of Petroleum and Natural Gas. The company successfully challenged the same before the Delhi High Court, which by its Orders dated 7 July 2015 and 19 October 2015 directed the Government of India (GoI) to restore the supply of gas. Review petition filed by the GoI, challenging the said Orders was rejected by the Court. Further the GoI also filed the Special Leave Petition (SLP) before the Supreme Court of India against the Order of the Delhi High Court, which was disposed of during the year under review without granting any relief to the GoI. The GoI has filed an affidavit before the Delhi High Court stating that Inter Ministerial Committee (IMC) has decided to recommend supply of pooled gas to the company, subject to approval of the Competent Authority. FY 2018 witnessed Deepak Fertilisers and Petrochemicals' continued journey into Specialty Fertilisers, Micro Nutrients and Water-Soluble Fertilisers. In January 2018, Deepak Fertilisers and Petrochemicals introduced a fertiliser under the brand name Mahadhan 'Smartek', which is the first-of-its-kind product in India. Smartek is a specialised technology for NPK that involves a unique coating which enhances nutrient uptake and profusely helps the root system, thereby increasing yield significantly. It also helps in releasing the phosphorus fixed in the soil, reduces nitrogen volatisation leading to increased fertiliser availability to the crop. During the 4th quarter of FY 2018, STL initiated 5,000-plus field demos in the states of Maharashtra, Gujarat and Karnataka for groundnut, sugarcane, tomato, onion, banana and solanaceous vegetable crops. The company has set up a 32,000 MT greenfield plant for Bentonite Sulphur and commissioned in Q1 FY 2018. Strategically located at Panipat (Haryana), this plant will serve the markets of Madhya Pradesh, Haryana, Uttar Pradesh and Punjab which are essentially Sulphur- deficient regions. Besides, it will enable the company to save on logistics costs, boost functional efficiencies, enhance its competitiveness and cater to newer markets especially Northern India where it had marginal presence. The Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, had withheld subsidy due to the company in accordance with applicable Nutrient Based Subsidy (NBS) Scheme of the Government of India (GoI), alleging undue gain arising to the company on account of supply of cheap domestic gas. The company had filed a Writ Petition in the High Court of Judicature at Bombay, challenging the withholding of subsidy. Based on the directive of the High Court, the GoI released the subsidy amounting to Rs 463 Crore and subsidy amounting to Rs 310 Crore was withheld pending final decision. On the request of the company, the DoF has released subsidy amounting to Rs 310 Crore against a Bank Guarantee pending final decision. The company's Technical Ammonium Nitrate (TAN) manufacturing plant at Srikakulam which was shut down due to repairs and maintenance, commenced operations and delivered about 50% of the capacity. This resulted in the overall better capacity utilisation for TAN Business and improved availability of the product across India. The company utilised the services of international experts to develop the value-added products, understand market vis- -vis value proposition gaps and facilitate market penetration and actions with the right Capex and Opex. For establishing global footprint and enhancement of export revenue, the company augmented and strengthened its presence in the key markets of Africa and Asia, through better services. In the domestic market, the company's focus has been on expanding the target geographies to reach the end-users through a solid distribution network through the addition of new zones in Raipur, Tata Nagar and NCR in FY 2018 followed by North-East, Salem and Rajkot in FY 2019. Platinum Blasting Services Pty. Ltd. (PBS), a joint venture in Australia and STL, successfully completed its 4th year of operations. During the year, through its value-added blasting service offerings to the mining industry in Australia, it bagged 3 blasting services contracts and 4 top-up services contracts. In FY 2018, Deepak Fertilisers and Petrochemicals'Industrial Chemicals segment witnessed record volumes in Nitric Acid with full capacity utilisation in Concentrated Nitric Acid (CAN). During the year, the company dynamically migrated its product mix towards Concentrated Nitric Acid in line with the growth in major application, such as the nitroaromatics industry. In Iso Propyl Alcohol (IPA), the company maintained its market share in manufacturing and trading, becoming the key supplier to customers in various segments such as Pharma, inks and coatings and other derivatives. In FY 2018, Deepak Fertilisers and Petrochemicals' trading business touched Rs 2,000 crore, growing by 80% over FY 2017. The company imported over 4 lakh MT of various solvents in FY 2018, growing 73% over FY 2017. In its trading business, the company imports solvents such as Acetone, Toluene, IPA, Methanol, Hexane, Mixed Xylene and Phenol to cater the needs of pharmaceuticals, inks and coatings, paints, pesticides and the agrochemical industries. The company is the key partner of solvent producers in South East Asia, Middle East, Europe and China for the import of these solvents in India. In FY 2018, Creaticity has actively embarked on an exciting transformation into a vibrant and creative living campus that offers inspiring experiences to its customers across the three categories of Home & Living, Food & Beverage and Entertainment. Creaticity (previously Ishanya) is the Value-Added Real Estate business of the company comprising of a lifestyle retail centre in Pune, with around 4,00,000 sq. ft. of retail space. This journey of transformation includes smart reconfiguration of the mall spaces, innovative deployment of technology and service design ideas, aimed at better navigation and circulation of the customers across the campus thereby enabling more productive and satisfied customers. The Board at its meeting held on 22nd April, 2019 granted an in-principle approval for issuing FCCBs aggregating upto USD 30,000,000 in two tranches to International Finance Corporation (IFC). The Board also granted an in-principle approval for issue of Compulsory Convertible Debentures (CCDs) by Smartchem Technologies Limited (a wholly owned subsidiary of Company) aggregating upto Rs. 210 Crore in two tranches to IFC. During the year under review, pursuant to the approval of shareholders, the Company had allotted 64,76,893 warrants of face value of Rs. 10/- each at a premium of Rs. 298.79 per warrant (aggregating to approximately Rs. 200 Crore) convertible into 64,76,893 equity shares of face value of Rs. 10/- each at a premium of Rs. 298.79 per equity share (aggregating to approximately Rs. 200 Crore) to Robust Marketing Services Private Limited (RMSPL), a promoter group company and RMSPL paid Rs. 50 Crore, an amount equivalent to 25% of the warrants issue size pursuant to the applicable provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations. The Company has utilised the above funds, wherein the shareholders had approved the raising of funds.

Deepak Fertilizers & Petrochemicals Corp Ltd Chairman Speech

straight year when we got challenged on The every single facet of business from all sides.Fy 2019-20 Turned Out To Be A Second

Be it the struggle in the Fertiliser sector or the Chinese dumping of IPA or the first year struggles for the new Nitric Acid complex or the massive downturns in the financial sector…..what all could go wrong…did. With grit and determination, we dug our heels and prepared for an all-round fight back….be it on the:

???Strategy front….

???Cost Optimization ….

???Logistics Recasts….

???Tighter Financial Prudence The Fertiliser team responded with a newfound urgency in the strategy-to-execution journey from the commodity NPK fertilisers being sold to dealers to the Crop Specific and value-added NPK fertilisers being marketed to farmers based on superior technical product features. It called for a huge basket of change initiatives, encompassing organisational structure, manufacturing processes, applied R&D, channel reselection, farmer-focused marketing as well as systems and processes to monitor these initiatives. Following the rollout of more than 13,000 demonstration plots for different crops across geographies, our marketing team connected with more than 1 million farmers and 4,000 focused retailers, strengthening communication and conviction around improved farm yields. The Technical Ammonium Nitrate (TAN) team took up its transformative journey from a product sale to a mining solution, repositioning its marketing focus to each end-user segment and its needs. To raise the productivity bar of the Indian mining sector, our team not only enhanced its collaboration with relevant stakeholders in the explosives and mining sectors but also commenced knowledge sharing on value-added synergies and global best practices. Deep-rooted studies of the Consumer segment needs, regulatory norms for each sector, the last mile connectivity…all went into the preparatory phase for this journey. The Industrial Chemicals business engaged in studies to evaluate possibilities of graduating from conventional sale of IPA and Acids towards value-added product segments. An important milestone for us, was the commencement of our new greenfield plant at Dahej, Gujarat, for Nitric Acid. Though, it initially grappled with some teething issues, the operating team overcame challenges to show a reasonably satisfactory performance during the first year post commissioning. DFPCL responded to the need for enhanced manufacturing competitiveness through a systematic TPM-led plant maintenance and reliability improvement. It focused on methodical examination of in-complex cost structures as well as the complete supply chain with the objective to moderate costs and turnaround time. Cross-functional teams collaborated extensively to generate enhanced efficiencies and solutions. Questioning each cost element in the chain from raw material to manufacturing to logistics to marketing and finally to Collections called for dispassionate team reviews, re-engineering business processes, sharper negotiations and above all building systems and processes to ensure sustenance over and over again demanded relentless discipline and drive. In this process, we also consciously compacted our trading basket by emphasizing more on profitable products for optimisation of working capital.

"I believe luck is preparation meeting opportunity" - Oprah Winfrey

As we moved from Q3 to Q4 of 2019-20, the preparation phase started delivering green shoots in terms of the market accepting the value being delivered along with cost and systems optimisation contributing to our margin improvements.

The demo plots showcased tangible evidence of promised yield and quality improvements, translating into attractive monetary implications for farmers in each geography. Our large number of last mile retailers communicated these success stories to other farmers, widening our circle of influence. The result was that what would have been a conventional industry-typical ‘product push' approach was gradually transformed into a ‘consumer pull' strategy.

Besides, systems and processes were embedded in smart handheld devices that translated into livelihood-strengthening messaging to farmers; a GPRS tracking mechanism was implemented to track farmer and field visits by the large B2C team. The interconnected sales and operations process tools now automatically connect with the demand generation inputs to timely activate the raw material procurement, manufacturing and supply chain systems. The process of timely invoicing led to sales and inventory liquidation, which resulted in timely collections, strengthening prospects of repeat sales and that too at premium pricing. Thus began the circle of Preparation to Conviction to Confidence in the Fertiliser team to take up more ambitious targets.

Then came the good rains. This positive development was complemented by the Indian Government announcing a pathbreaking agriculture policy, unshackling constraints and providing a greater growth catalyst.

Our TAN Business engaged in a similar painstaking new product development journey. The globally accomplished Low Density Ammonium Nitrate, one of our key products, is being increasingly accepted and used for the manufacture of cost-effective and impactful segment-based explosives. An in-depth recasting of the last mile connectivity and proof of concept have strengthened the conviction of the marketing team as well as consumers. Independent industry-respected Research firms confirmed the attractive and impactful mine cost optimization and improved mine productivity. Strategic tie-ups downstream to provide value-added products, deeper associations with the growing private coal mining segment and down-the-hole (DTH) last mile delivery systems commenced in right earnest.

In a heartening development, the Indian Government recently announced the landmark Commercial Coal Mining policy, opening up a completely new chapter in the foreseeable future. This announcement positions us in the right place at the right time, validating our commitment to proactively prepare for the right opportunity.

Indeed, luck is preparation meeting opportunities!

Marching with Buoyancy!

We have always stood the test of time and with every passing year, we have become more consumer-focused, agile and progressive. The disbursement of the first tranche of US$30 Mn from IFC Washington reinforced their confidence in our operations and growth plan. We also commenced the monetization of non-core assets in 2019 by selling an unused land parcel in Dahej and a stake in Desai Fruits.

….And then, FY 2019-20 concluded with onset of an unprecedented economic catastrophe in the form of the COVID-19 pandemic. With our team of resilient workforce, suppliers and customers, we are geared to pass through this crisis by transforming challenges into opportunities and emerging stronger in tougher times.

"First, I prepare. Then I have faith" - Joe Namath

The strong preparatory phase that was followed with the green shoots, evident from ground level execution drive at the marketplace, supply chain network and the end-to-end operations, has now converted into a strong "CAN DO" faith. The year ahead will see larger, wider and deeper inroads into this journey from Commodity to Value-added products, from Customer to Consumer focus and a digital overdrive to establish USPs and impactful deliveries.

The compelling rationale has become stronger for our backward integration through 1500 TPD Ammonia project. Weakening of natural gas prices, both in the international and domestic markets, coupled with lack of additional global capacities of merchant ammonia, confirms our prognosis of further improvement in the prices of Ammonia going forward. A strong domestic demand for industrial explosives on the back of a greater reliance on domestic coal production, opening up of commercial mining and long-term growth trends in the housing and infrastructure sector, has given us further conviction to forge ahead with the expansion of our TAN capacities. We plan to expeditiously complete project development so that the construction of the TAN plant on the East coast can commence at the earliest. While the pace may get impacted due to COVID-19, we are putting in place many innovative project execution strategies to contain the impact.

Luck rewards the determined

Our business-strengthening initiatives in the past years have started delivering results. The performance of the Company in the first quarter of the current financial year (Q1FY21) was the best-ever quarterly performance in the Company's history. While the external environment remained challenging owing to the fragile global economic conditions due to COVID-19, we reported a 23% growth in revenue and more than 11 times growth in net profit compared to Q1FY20. Our diverse nature of the businesses gives us optimism that we will continue to create new benchmarks in the coming years. We have invested the last two years in Getting on the Mark, Getting Set…. we are now ready to Go!

S. C. Mehta

Chairman & Managing Director

Q. How would you appraise the Company's performance in 2019-20?

A: The Company reported total revenues of C4,685 Crores in FY2020 compared to C6,742 Crores in FY2019. The Company cautiously consolidated its trading portfolio with a focus on high-margin products (as a result of which chemical trading consciously declined by C1,405 Crores y-o-y and fertiliser trading reduced by C419 Crores y-o-y). The result of this conscious approach was that operating margins increased to 9.9% in FY2020 compared to 6.8% in FY2019.

The total debt of the Company declined from C2,994 Crores at the end of September 2019 to C2,928 Crores as on 31 March 2020, despite drawing additional long-term loans for Capex. As a result net debt-to-equity ratio improved from 1.35x in September 2019 to 1.25x in March 2020. The Company's credit rating was reaffirmed by ICRA at A+ stable for long-term bank facilities and at A1 for short-term bank facilities.

The Board recommended a dividend of C3 per equity share of a face value of C10 each (30%).The highlight during the year under review was the decision of International Finance Corporation (IFC) to subscribe to the first tranche of US$ 30 million (approx. C210 Crores), Foreign Currency Convertible Bonds (FCCBs) and Compulsory Convertible Debentures (CCDs) in DFPCL and its wholly-owned subsidiary Smartchem Technologies Limited (STL). This funding represented a part of IFC's US$60 million investment commitment; the second tranche of US$ 30 million (i.e. C210 Crores) is expected to be subscribed in the first half of FY2021.

Q. What was the impact of COVID-19 on the Company's production?

A: The onset of the COVID-19 pandemic impacted the production of NP/NPK, TAN and Nitric Acid at Dahej in March 2020. The notional ‘loss' of production on account of COVID-19 was c6.0 KT for Nitric Acid

(DNA+CNA);therewasaproductionshortfallofNP/NPK (5 KT) and TAN (3 KT) as well.

Q. There was a significant turnaround in the fertilisers business. What were the reasons for this?

A: The margins of the company's fertiliser segment improved substantially from a negative (1.7)% in FY19 to a positive 1.7% in FY20. This turnaround was engineered by various initiatives undertaken by the company like a change in the product portfolio, value-based pricing and cost optimisation measures along with favourable monsoons and water levels in the country. NP sales volumes increased 11% y-o-y in FY20, although NPK volumes remained flat. Softening of major raw materials prices also helped in margin expansions. The delayed monsoon and lower rabi crop impacted farmers, resulting in lower demand in the first half of the year. However, a strong retreating monsoon and higher water table levels led to a demand recovery in the second half of the year.

Even as the overall market remained subdued, the Company remained focused on demand generation. It embarked on crop-specific market development campaigns including promotional activities, crop seminars, farmer meetings and product demonstrations across farmer fields. The Company focused on various sales and distribution efficiency improvement areas, including sales team automation and the development of alternative vendors for key raw materials.

The Company launched crop-specific grades in the water-soluble category during the year under review. The Company received a favourable market response; the grades enjoyed high margins potential over regular water soluble products. The Company moved its entire sales towards differentiated products (Smartek) towards the end of the year.

Q. What measures did the Company take to reduce its non-core exposure?

A: As a part of the commitment to focus on our core business and moderate our exposure to our non-core businesses, the Company divested a plot of industrial land in Dahej for a total transaction value of C99.2 Crores. In addition, the Company also sold 75% of its holding in Desai Fruits and Vegetables Private Limited (21.50% of its share capital) to Contract Farming Mauritius Private Limited for C28 Crores. The Company is taking steps towards monetisation of its other non-core assets i.e. real estate and stake in its step-down subsidiary Platinum Blasting Services Pty Limited.

Q. There was a news item that DFPCL's promoter had pledged more than 70% shares.

A: Non-Disposal Undertaking (NDU) was provided by the promoter of DFPCL to IFC for CCDs issued by Smartchem Technologies Ltd., which is usual in such transactions. As per the undertaking, the promoters undertook not to dispose the shares (as distinct from a pledge). The NDU ensures that the promoters will continue to own the shares, contrary to the news item that the promoters ran the risk of losing management control.

The fact that the encumbrances were only a ‘non-disposal undertaking' in nature was communicated by the promoters to the stock exchanges. The NDU assured that the promoters would continue to own shares, contrary to a news report that the promoters potentially ran the risk of losing control of the entities on account of the pledge. Interestingly, the promoters increased their equity stake from 51.50% (March 2019) to 52.20% (March 2020), a reflection of enhanced confidence in the Company's prospects.

Q. How does the company ensure communication transparency?

A: At the Company, investor relations (IR) is a strategic management function that communicates the equity story and investment proposition for the benefit of institutional investors and shareholders. The Company continues to communicate transparently with all its stakeholders through one-on-one meetings, investor conferences and quarterly conference calls. Through a large database of opinion-makers, important business updates were proactively communicated during the year through various modes like emails, social media platforms like WhatsApp and YouTube, one-on-one calls and stock exchange disclosures, among others. The Company also brought elements of innovation into its investor communication. It engaged extensively with stakeholders through vertical-focused calls that enhanced a granular understanding (including a specific call focusing on the TAN business). The Company also created a YouTube channel where the conference call recordings were embedded with an investor presentation for a larger family of stakeholders like investors, shareholders, research analysts, bankers, financial institutions and credit rating agencies etc., who may have missed the call.

The Company was the first among peers to provide a video recording of its AGM proceedings through

"The margins of the company's fertiliser segment improved substantially from ~ negative (1.7)% in FY19 to positive 1.7% in FY20"

YouTube, even though the AGM webcast was not statutorily required for DFPCL. Stakeholders also appreciatedthedetailedpresentationatDFPCL'sAnnual General Meeting, by the CFO, which helped enhance their understanding of the Company's performance, challenges, and risk mitigation initiatives. There has been a significant decline in the turnaround time to resolve inbound stakeholder queries. DFPCL was also invited to participate in an expert panel discussion at the reputed International IR Magazine Awards 2019 in Mumbai. The Company's views were published in an International IR Magazine article ‘Game-changing governance set to reshape Indian corporate culture' in 2019. The Company raised the benchmark in delivering on capital market expectations and will continue to improve disclosures to match international governance standards.

   

Deepak Fertilizers & Petrochemicals Corp Ltd Company History

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) is the leading manufacturer of industrial chemicals in India. It is one of the major manufacturers of Nitric Acid, Iso Propyl Alcohol (IPA), Food Grade Liquid Carbon Dioxide and Methanol. The manufacturing facilities of the Company are located at Taloja, Maharashtra and Dahej, Gujarat. The Company imports and supplies very few selected solvents to maintain its leadership position domestically. The Company is engaged in the business of fertilisers, agri services, bulk chemicals, mining chemicals and value added real estate. It has a strong distribution network of 50 channel partners and direct relationships with 600 industrial customers in India and globally. The company owns India's most significant Technical Ammonium Nitrate (TAN) complex which produces Ammonium Nitrate (AN) Melt, High-density AN and Low-density AN. DFPCL is India's largest TAN (Solids) manufacturer and is also one of the world's top 5 largest merchant TAN manufacturers. It enjoys a 45% market share in the segment with about 85% plus capacity utilisation. The company accounts for 45% of the domestic market and 2.5% of the global production of TAN. DFPCL is one of the largest producers and importers of industrial chemicals in India, with Nitric Acid and Solvents being its key flagship products. Currently, the Company remains the only manufacturer of Iso Propyl Alcohol (IPA) in India, enjoying a significant leadership position with 85% market share. DFPCL is the largest manufacturer of Nitric Acid in Asia, having the largest integrated nitric acid plant with a manufacturing capacity of around 7,00,000 MT of Diluted Nitric Acid (DNA) and 1,38,600 MT of Concentrated Nitric Acid (CNA). In its trading business, the company imports solvents such as Acetone, Toluene, IPA, Methanol, Hexane, Mixed Xylene and Phenol to cater the needs of pharmaceuticals, inks and coatings, paints, pesticides and the agrochemical industries. The company is the key partner of solvent producers in South East Asia, Middle East, Europe and China for the import of these solvents in India. The Value-Added Real Estate business of the company comprises of a lifestyle retail centre - Creaticity' (previously Ishanya) in Pune, with around 4,00,000 sq. ft. of retail space. Creaticity has been focused on a three-pronged category strategy comprising of Home and Living, F&B and Entertainment. Deepak Fertilisers and Petrochemicals Ltd was incorporated in the year May 31, 1979 as a private limited company and in the year 1982, they became a public company. In the year 1983, the company in technical collaboration with Fish International Engineers of USA started commercial production of ammonia using natural gas as feedstock. The International Finance Corporation initially supported this venture in the form of equity participation. The company undertook major expansion and diversification in 1989 to achieve forward integration of ammonia and diversification in Methanol. In July 1992, the company commenced commercial production of Low Density Ammonium Nitrate, Nitro Phosphate, Dilute Nitric Acid, and Concentrated Nitric Acid. Later, they diversified into specialty retailing with Ishanya, India's largest Design Centre and Specialty Mall for interiors and exteriors. During the year 2001-02, the company in technical collaboration with Grande Praoisse of France expanded the capacity of Nitro Phosphate fertilizer plant to 3,00,000 tpa and Low Density Ammonium Nitrate plant to 1,00,000 tpa. During the year 2003-04, the company acquired equity shares of Smartchem Technologies Ltd and thus STL became the subsidiary of the company. During the year 2004-05, the company has incorporated a wholly owned subsidiary, namely Deepak Nitrochem Pty Ltd in Australia to explore investment opportunities triggered by the growth in mining operations. The company commissioned the Automatic Bagging Plant in NP and Ammonium Nitrate. Also they installed and commissioned the 9MW captive co-generative plant during the year. During the year 2004-05, the company increased the installed capacity of Concentrated Nitric Acid by 23100 MT and with this expansion the total installed capacity increased to 79200 MT. In August 2006, the company commissioned their IPS plant and in March 2007, the company received the ISO 9001-2000 certification for the manufacture and supply of Methanol and Iso Propyl. In February 2008, the company and Yara International ASA signed a Heads of Agreement with the intention of establishing a joint venture company to produce and market ammonium nitrate and speciality fertilisers in India. ISHANYA, India's largest Design Centre and Specialty Mall, for interiors and exteriors open its first 25 outlets with over 5000 brands. The company has decided to set up another 450 TPD Dilute Nitric Acid plant at Taloha. It is expected that the plant will be commissioned during the first quarter of FY10. Also, the company has undertaken a project to build an Ammonia storage facility at the JNPT port to facilitate imports. The company is expanding their diluted nitric acid capacity to 1350 MT/day from 900 MT/day by June 2009 with a total investment of Rs. 110 crore. Also, the company plans to foray into contract mining operations as part of a strategic growth initiative. They are looking to enter into third party open cash mining of coal, limestone and other minerals, which has massive growth potential. During 2009-10, DFPCL's agri-business continued its focus on integrated nutrient management and providing crop specific, soil specific advisory services to the farmers, through its Saarrthie Centres, to build brand loyalty, enhance produce quality and farm productivity. The company also expanded its geographical footprint by moving into states like Punjab & Haryana in addition to the traditional markets of Maharashtra, Gujarat, Karnataka and Goa. During the year, DFPCL recorded the highest production and sale of Iso Propyl Alcohol (IPA) with the increased availability of propylene. The company recorded the highest production of all Nitric Acid put together, including the highest production of 87,596 MT of Concentrated Nitric Acid (CAN) in 2009-10, surpassing the earlier high of 84,971 MT in the previous financial year. Post-Diwali 2009, a positive rebound has begun and consumer spending at DFPCL's mall Ishanya is on the increase. During the year, the company borrowed long-term funds of Rs. 241 crores for part financing project costs. In addition, there were short-term borrowings of Rs. 122.16 crores. During the financial year ended 31 March 2014, for the first time in the history of the company, DFPCL's fertilisers sales crossed Rs. 1,000 Crore, growing to Rs. 1,410 Crore from Rs. 995 Crore in the preceding year. While home and interiors will remain the prime focus DFPCL's mall Ishanya, during the year, the company recalibrated its business strategy to attract more retailers and shoppers by inviting brands from an equally exciting and growing category of Food and Beverages (F&B) linked with Entertainment. An area of around 40,000 sq. ft. has been allocated to F&B and the company is in active stage of progress to launch this category. During the financial year ended 31 March 2014, DFPCL acquired 49,993 Equity Shares (i.e. 99.99%) and has also acquired beneficial interest of remaining 7 Equity Shares (i.e. 0.01%) of SCM Soilfert Limited. Therefore, SCM Soilfert Limited became wholly owned subsidiary of the company. During the year under review, DFPCL's wholly owned subsidiary SCM Soilfert Limited (SSL), acquired 2,89,91,150 Equity Shares (i.e. 24.46%) of Mangalore Chemicals & Fertilizers Limited (MCFL). Further on 23 April 2014 SSL, acquired 10,01,309 Equity Shares (i.e. 0.8%) of MCFL and made an Open Offer for acquiring 3,08,13,939 Equity Shares (i.e. 26%) to the public share-holders of MCFL at a price of Rs. 63 per Equity Share pursuant to the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. DFPCL is 'person acting in concert' (PAC) in the Open Offer. DFPCL's operations were adversely affected during the financial year ended 31 March 2015, in view of the stoppage of supply of domestic gas pursuant to an order by Ministry of Petroleum & Natural Gas (MoPNG) w.e.f. 15 May 2014. The company has since challenged the order of MoPNG in the High Court of Delhi. All proceedings in the High Court of Delhi have been completed and the final order is awaited. As a result of stoppage of supply of domestic natural gas the company's Nitrophosphate plant at Taloja has been closed since 15 May 2014. The company's Crop Nutrition business extended its reach to new markets (Tamil Nadu, Andhra Pradesh) in South India during FY2014-15. The company's Farm Produce business broke even during FY 2014-15, steered by a more robust business model and greater access to new markets. As part of its forward integrated linkages, DFPCL is operating 12 Saarrthie Centres, located across its core command area, since 2006. With strong linkages between nutrient management and product output management, these centres continued to boost last-mile connectivity for farmers during the year under review through advisory and other services. The Ammonium Nitrate Rules introduced by the Government of India relate to logistics management, post production and the import of Ammonium Nitrate. The Rules, implemented from 11 January 2014 are aimed at regulating storage, handling transportation and possession for sale or use of Technical Ammonium Nitrate (TAN). DFPCL has completed the process of adoption of these stringent Rules during the year and now fully complies with them. Despite pricing being a challenge, DFPCL achieved record-breaking production and sales of Iso Propyl Alcohol in the three consecutive months of the last quarter of FY 2014-15. Breaking its all time records in terms of production for three consecutive months, from January to March 2015, DFPCL reported its highest ever production numbers Concentrated Nitric Acid. With regard to Value-Added Real Estate business, DFPCL Ishanya mall in Pune helped enhance retailer sales by creating special schemes leading to greater visibility for Ishanya in the core category of home decor and interiors. The mall embarked on a smart strategy of building experiential spaces and allocated 30% of space to food & beverage (F&B) and entertainment. This strategy was kickstarted during FY 2013-14 with Blue Frog - Live Music Performance club with F&B, which became operational during FY 2014-15 will further augment the topline growth. The division also expanded the F&B business by signing on Pub Town - Pune's pioneering concept for one-stop fine dining spread over 30,000 sq. ft.; phase 1 of 7,000 sq. ft. has become operational since early February 2015. During the financial year ended 31 March 2015, DFPCL acquired 49,993 Equity Shares (i.e. 99.99%) and has also acquired beneficial interest of remaining 7 equity shares (i.e. 0.01%) of SCM Fertichem Limited. Thereby, SCM Fertichem Limited became wholly owned subsidiary of DFPCL. Further, DFPCL's wholly owned subsidiary Smartchem Technologies Ltd. (STL), as part of its forward integration initiative, announced the launch of its overseas JV during the year for blasting services in Australia. STL has set up Platinum Blasting Services Pty Ltd, a JV with local Australian partners having vast experience in providing value-added blasting services and operational expertise to mining and explosives industries in Australia. During the year under review, DFPCL's wholly owned subsidiary SCM Soilfert Limited (SSL) acquired 70,44,397 (5.94%) equity shares of Mangalore Chemicals & Fertilisers Limited (MCFL) at a price of Rs. 93.60 per share plus interest through an open offer made by SSL in October 2014, in which DFPCL was 'person acting in concert'(PAC). Subsequent to the open offer, the shareholding of SSL reached 31.25% represented by 3,70,36,856 equity shares of MCFL. Thereafter, SSL sold 2,94,11,831 (24.82%) equity shares of MCFL in the open market through Stock Exchanges. In April/May 2015, Zuari Fertilisers and Chemicals Limited made an open offer to the shareholders of MCFL to acquire upto 36% shares of MCFL equity share capital @ Rs. 91.92 per share plus interest. In response, SSL sold 61,84,928 (5.22%) equity shares of MFCL in the aforesaid open offer. SSL continues to hold balance 1.21% equity shares of MCFL. DFPCL received an interim dividend of Rs. 705.54 Lacs from SSL during the year under review in view of the financial gain SSL received on account of the aforesaid transaction in MCFL shares. During the financial year ended 31 March 2016 (FY 2016), DFPCL attained a new benchmark in terms of Net Sales which was highest ever. The total Net Sales for the year FY16 stood at Rs 4,258.72 crore, up by 14.74% from Rs. 3,711.76 crore in FY 2015. Based on the request from the farming community and directive of Government of Maharashtra, DFPCL restarted the manufacturing of ANP fertiliser during first quarter of FY 2016 based on RLNG. The plant had remained shut since 15 May 2014 due to stoppage of Natural Gas (a key raw material) supply pursuant to an arbitrary and discriminatory order of the Ministry of Petroleum, Government of India. During this period, to complete the basket of products required by farmers, the company continued with trading of fertilisers from overseas as well as domestic producers & suppliers. Platinum Blasting Services Pty. Ltd., a joint venture in Australia and subsidiary DFPCL' wholly owned subsidiary Smartchem Technologies Limited (STL), successfully completed its 1st year of operation. During the year it bagged 3 blasting services contracts to provide value added blasting to the mining industry in Australia. During the financial year ended 31 March 2016, Platinum Blasting Services Pty Ltd. (PBS), subsidiary of Smartchem Technologies Limited, has acquired ownership interest in Australian Mining Explosives Pty. Ltd. (AME) for a consideration of AUS $ 3.7 Million. Due to the aforesaid acquisition by PBS, AME has become subsidiary of DFPCL pursuant to the provisions of the Companies Act, 2013. During the year ended 31 March 2016, DFPCL registered its highest ever production and sales of Concentrated Nitric Acid. During the year, the company introduced a special grade Nitric Acid for dairy industry. Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) commissioned its brownfield NPK (Nitrogen, Phosphorous and Potassium) granulation plant at Taloja (Maharashtra) in the fourth quarter of FY 2017, with a capacity of 6 lakh MTPA. This brownfield facility expansion is the first and the only facility in India with a unique fully automated bag loading facility. As there were huge inventories available in the channel and with the expected production of new NPK facility, the company restricted volumes of the trading business. To tackle the prevailing challenges in the external environment, the company undertook series of measures including the tracking and pushing of inventories through aggressive and structured marketing, advertising and promotional activities. The company also undertook region-specific and crop-specific initiatives on identified regions which had the maximum potential. The company is moving to a more sustainable, crop-friendly and productivity-enhancing fertiliser products. The company's ongoing product development is also focussed on developing customised crop-specific nutrient solutions. This initiative maps the global best-class practices and the company is confident that these will revolutionise the way farm inputs are consumed in India. Trial runs for the same have been carried out during FY 2017. In spite of Fertiliser Grade Ammonium Nitrate (FGAN) imports, DFPCL continued to be the market leader with a share of 36% of TAN portfolio in FY 2017. The company's Srikakulam TAN plant which was shut down for a short period due to compressor repairs and maintenance, commenced operations from the second quarter of FY 2017. This resulted in better capacity utilisation and improved availability of the product across Eastern India. Platinum Blasting Services Pty. Ltd. (PBS), a joint venture in Australia and a subsidiary of DFPCL's wholly- owned subsidiary STL, successfully completed its second year of operation. During the year, through its value-added blasting service offerings to the mining industry in Australia, it bagged 3 blasting services contracts and 4 top-up services contracts.During FY 2017, the company's Concentrated Nitric Acid (CNA) sales grew by 10% leading to highest ever sales of the product. In its Value-Added Real Estate business, DFPCL's strategy of crafting a food & beverage destination continued through the year with addition of new and exciting dining formats such as Zora, Baraza, Opus Banquets with nearly 25,000 sq. ft. of space being leased out during FY 2017. Sportainment in the form of Pune's largest indoor sports arena XLR8 opening during year, complemented the F&B initiatives. Adjacencies were leased out in the form of design institutes like Srishti School of Design and Fashion and Design institute. The National Company Law Tribunal (NCLT), vide its Order dated 30 March 2017 has approved the Scheme of Arrangement amongst the company, SCM Fertichem Limited (SCM Fertichem) and Smartchem Technologies Limited (Smartchem) and their respective shareholders and creditors involving: The slump exchange of (a) the Technical Ammonium Nitrate (TAN) undertaking of the company together with its business and operations including its manufacturing and related facilities located at (i) Taloja & Pune, Maharashtra (ii) Jawaharlal Nehru Port, Maharashtra and (iii) Paradeep and its marketing & corporate office(s) (TAN Undertaking), and (b) the Fertiliser undertaking of the company together with its business and operations including its manufacturing and related facilities located at (i) Taloja and Pune, Maharashtra (ii) Jawaharlal Nehru Port, Maharashtra and (iii) Panipat, Haryana and its marketing & corporate office(s) (Fertiliser Undertaking) (and collectively, (a) and (b) are hereinafter referred to as the 'Transferred Undertakings') of the company to SCM Fertichem, on a going concern basis (Slump Exchange); and thereafter, the subsequent demerger of the Transferred Undertakings and vesting of the same from SCM Fertichem in Smartchem, on a going concern basis, in accordance with Section 2(19AA) of the Income Tax Act, 1961 (Demerger) with effect from the Appointed Date, 1 January 2015. A certified copy of the Order passed by the NCLT was filed with the Registrar of Companies, Pune, Maharashtra on 1 May 2017. Thus the Scheme of Arrangement has become effective with effect from 1 May 2017 in terms of the provision of the said Scheme of Arrangement. Further, the National Company Law Tribunal, vide its Order dated 22 June 2017, has approved the 'Scheme of Amalgamation' providing for amalgamation of SCM Soilfert Limited, a Wholly Owned Subsidiary of the company, with the company. The Appointed Date for the said Scheme is 1 April 2015. Effective 15 May 2014, domestic gas supply to the company was arbitrarily stopped by the Ministry of Petroleum and Natural Gas. The company successfully challenged the same before the Delhi High Court, which by its Orders dated 7 July 2015 and 19 October 2015 directed the Government of India (GoI) to restore the supply of gas. Review petition filed by the GoI, challenging the said Orders was rejected by the Court. Further the GoI also filed the Special Leave Petition (SLP) before the Supreme Court of India against the Order of the Delhi High Court, which was disposed of during the year under review without granting any relief to the GoI. The GoI has filed an affidavit before the Delhi High Court stating that Inter Ministerial Committee (IMC) has decided to recommend supply of pooled gas to the company, subject to approval of the Competent Authority. FY 2018 witnessed Deepak Fertilisers and Petrochemicals' continued journey into Specialty Fertilisers, Micro Nutrients and Water-Soluble Fertilisers. In January 2018, Deepak Fertilisers and Petrochemicals introduced a fertiliser under the brand name Mahadhan 'Smartek', which is the first-of-its-kind product in India. Smartek is a specialised technology for NPK that involves a unique coating which enhances nutrient uptake and profusely helps the root system, thereby increasing yield significantly. It also helps in releasing the phosphorus fixed in the soil, reduces nitrogen volatisation leading to increased fertiliser availability to the crop. During the 4th quarter of FY 2018, STL initiated 5,000-plus field demos in the states of Maharashtra, Gujarat and Karnataka for groundnut, sugarcane, tomato, onion, banana and solanaceous vegetable crops. The company has set up a 32,000 MT greenfield plant for Bentonite Sulphur and commissioned in Q1 FY 2018. Strategically located at Panipat (Haryana), this plant will serve the markets of Madhya Pradesh, Haryana, Uttar Pradesh and Punjab which are essentially Sulphur- deficient regions. Besides, it will enable the company to save on logistics costs, boost functional efficiencies, enhance its competitiveness and cater to newer markets especially Northern India where it had marginal presence. The Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, had withheld subsidy due to the company in accordance with applicable Nutrient Based Subsidy (NBS) Scheme of the Government of India (GoI), alleging undue gain arising to the company on account of supply of cheap domestic gas. The company had filed a Writ Petition in the High Court of Judicature at Bombay, challenging the withholding of subsidy. Based on the directive of the High Court, the GoI released the subsidy amounting to Rs 463 Crore and subsidy amounting to Rs 310 Crore was withheld pending final decision. On the request of the company, the DoF has released subsidy amounting to Rs 310 Crore against a Bank Guarantee pending final decision. The company's Technical Ammonium Nitrate (TAN) manufacturing plant at Srikakulam which was shut down due to repairs and maintenance, commenced operations and delivered about 50% of the capacity. This resulted in the overall better capacity utilisation for TAN Business and improved availability of the product across India. The company utilised the services of international experts to develop the value-added products, understand market vis- -vis value proposition gaps and facilitate market penetration and actions with the right Capex and Opex. For establishing global footprint and enhancement of export revenue, the company augmented and strengthened its presence in the key markets of Africa and Asia, through better services. In the domestic market, the company's focus has been on expanding the target geographies to reach the end-users through a solid distribution network through the addition of new zones in Raipur, Tata Nagar and NCR in FY 2018 followed by North-East, Salem and Rajkot in FY 2019. Platinum Blasting Services Pty. Ltd. (PBS), a joint venture in Australia and STL, successfully completed its 4th year of operations. During the year, through its value-added blasting service offerings to the mining industry in Australia, it bagged 3 blasting services contracts and 4 top-up services contracts. In FY 2018, Deepak Fertilisers and Petrochemicals'Industrial Chemicals segment witnessed record volumes in Nitric Acid with full capacity utilisation in Concentrated Nitric Acid (CAN). During the year, the company dynamically migrated its product mix towards Concentrated Nitric Acid in line with the growth in major application, such as the nitroaromatics industry. In Iso Propyl Alcohol (IPA), the company maintained its market share in manufacturing and trading, becoming the key supplier to customers in various segments such as Pharma, inks and coatings and other derivatives. In FY 2018, Deepak Fertilisers and Petrochemicals' trading business touched Rs 2,000 crore, growing by 80% over FY 2017. The company imported over 4 lakh MT of various solvents in FY 2018, growing 73% over FY 2017. In its trading business, the company imports solvents such as Acetone, Toluene, IPA, Methanol, Hexane, Mixed Xylene and Phenol to cater the needs of pharmaceuticals, inks and coatings, paints, pesticides and the agrochemical industries. The company is the key partner of solvent producers in South East Asia, Middle East, Europe and China for the import of these solvents in India. In FY 2018, Creaticity has actively embarked on an exciting transformation into a vibrant and creative living campus that offers inspiring experiences to its customers across the three categories of Home & Living, Food & Beverage and Entertainment. Creaticity (previously Ishanya) is the Value-Added Real Estate business of the company comprising of a lifestyle retail centre in Pune, with around 4,00,000 sq. ft. of retail space. This journey of transformation includes smart reconfiguration of the mall spaces, innovative deployment of technology and service design ideas, aimed at better navigation and circulation of the customers across the campus thereby enabling more productive and satisfied customers. The Board at its meeting held on 22nd April, 2019 granted an in-principle approval for issuing FCCBs aggregating upto USD 30,000,000 in two tranches to International Finance Corporation (IFC). The Board also granted an in-principle approval for issue of Compulsory Convertible Debentures (CCDs) by Smartchem Technologies Limited (a wholly owned subsidiary of Company) aggregating upto Rs. 210 Crore in two tranches to IFC. During the year under review, pursuant to the approval of shareholders, the Company had allotted 64,76,893 warrants of face value of Rs. 10/- each at a premium of Rs. 298.79 per warrant (aggregating to approximately Rs. 200 Crore) convertible into 64,76,893 equity shares of face value of Rs. 10/- each at a premium of Rs. 298.79 per equity share (aggregating to approximately Rs. 200 Crore) to Robust Marketing Services Private Limited (RMSPL), a promoter group company and RMSPL paid Rs. 50 Crore, an amount equivalent to 25% of the warrants issue size pursuant to the applicable provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations. The Company has utilised the above funds, wherein the shareholders had approved the raising of funds.

Deepak Fertilizers & Petrochemicals Corp Ltd Directors Reports

Your Directors have pleasure in presenting the Fortieth Annual Report together with Audited Accounts of the Company for the Financial Year ended 31st March, 2020.

FINANCIAL RESULTS

The summarized financial results for the year are as under:

(Rs. In Lakhs)
Particulars

Standalone

Consolidated

2019-20 2018-19 2019-20 2018-19
Total Revenue (including Other Operating Revenues) 1,70,775 3,14,888 4,68,538 6,74,206
Profit Before Tax (PBT) 2,193 1,114 10,325 11,284
Less: a) Current Tax (Net) - 314 381 1,351
b) Deferred Tax (878) 8 1,026 2,281
Share of (Loss) of equity accounted investees NA NA (17) (305)
Net Profit for the year after share in (loss) of associates 3,071 792 8,901 7,347
Minority Interest NA NA 108 238
Net Profit / (Loss) for the period 3,071 792 8,726 7,067
Total Comprehensive Income 2,632 385 7,815 6,548
Add: Surplus brought forward 1,18,656 1,24,244 1,66,593 1,65,864
Amount available for Appropriations 1,21,727 1,25,036 1,75,319 1,72,931
Appropriations:
a) Adjustment from adoption of AASB 16 - - (134) -
b) Movement of Minority of Deepak Mining Solutions - - 16 -
Private Limited
c) Dividend on Equity Shares (Net) (2,646) (5,292) (2,646) (5,292)
d) Tax on Proposed Dividend (Net) (544) (1,088) (544) (1,046)
Deferred Tax Adjustment - -
Surplus carried to Balance Sheet 1,18,537 1,18,656 1,72,011 1,66,593

STATE OF AFFAIRS OF THE COMPANY

Your Company has achieved the Total Revenues of Rs. 1,708 Crore (including Rs. 707 Crore from trading operations) during the year under review as against previous year's level of

Rs. 3,149 Crore (including Rs. 1,989 Crore from trading operations). Profit Before Tax (PBT) for the year under review was Rs. 22 Crore as against Rs. 11 Crore in the previous year. Net Profit for the current year was recorded at Rs. 31 Crore as against Rs. 8 Crore in the previous year. The Company's financial performance was afiected on account of water shortage due to water cuts by MIDC, sharp fall in prices of solvents and severe financial debt market crisis.

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis (MDA), which forms part of this Report, inter alia, deals adequately with the operations and also current and future outlook of the Company on a consolidated basis.

ISSUE OF FOREIGN CURRENCY CONVERTIBLE BONDS (FCCBs) / COMPULSORY CONVERTIBLE DEBENTURES (CCDs)

The Board at its meeting held on 22nd April, 2019 granted an in-principle approval for issuing FCCBs aggregating upto US$ 30,000,000 (United States Dollars Thirty Million) in two tranches to International Finance Corporation (IFC).

The Board also granted an in-principle approval for issue of Compulsory Convertible Debentures (CCDs) by Smartchem Technologies Limited (a wholly owned subsidiary of the Company) aggregating upto Rs. 210 Crore (Rupees Two Hundred Ten Crore only) in two tranches to IFC. The security issue agreements have been executed by the Company and IFC.

Subsequently, the Securities Issue Committee of the Company at its meeting held on 19th October 2019, allotted 30 (Thirty) Foreign Currency Convertible Bonds (Convertible Securities) having a par value of US$ 500,000 each, being the first tranche, to International Finance Corporation ("IFC"), for an aggregate amount of US$ 15 million (Approx. Rs. 107 Crore).

DETAILS OF UTILISATION OF FUNDS RAISED THROUGH PREFERENTIAL ALLOTMENT OR QUALIFIED INSTITUTIONS PLACEMENT

During the year under review, the Company has raised funds through preferential allotment in the following manner:

Sr. No. Mode of Fund Raising Name of the party to whom the securities were issued Date of Raising Funds Amount Raised
1 Issue of warrants convertible into Equity Shares Robust Marketing Services Private Limited 1st October, 2019 Rs. 25 Crores
2 Issue of Foreign Currency Bonds International Finance Corporation 19th October, 2019 (US$ 15 Million) Approx. Rs. 107 Crore

The Company has utilised the above funds for the purposes as mentioned in the Notice of the Annual General Meeting held on 18th September, 2018, wherein the shareholders had approved the raising of funds.

DIVIDEND

Considering the performance of the Company, the Board of Directors of the Company recommends a dividend @ 30% i.e. Rs. 3 per Equity Share (Previous year Rs. 3 per Equity Share) of

Rs. 10 each of the Company for the year ended 31st March, 2020.

The proposed dividend is in line with the ‘Dividend Distribution Policy' adopted by the Board at its meeting held on 30th June, 2017. The Policy is available on the Company's website: www.dfpcl.com.

SHARE CAPITAL

The paid-up equity share capital as on 31st March, 2020 was

Rs. 89.28 Crore. During the year under review, the Company had allotted 10,79,482 equity shares to Robust Marketing Services Private Limited pursuant to conversion of warrants into equity shares. The Company has not issued shares with difierential voting rights or sweat equity shares, nor has it granted any stock options.

RIGHTS ISSUE

Subsequent to the close of the Financial Year 2019-20, the Board of Directors of the Company at their meeting held on 25th May, 2020 have approved raising of funds by way of issue of equity shares to the existing equity shareholders of the Company on rights basis for an issue size of upto Rs. 180 Crore.

CHANGES IN THE BOARD OF DIRECTORS

Appointments

The Board at its meeting held on 22nd April, 2019 on the recommendation of Nomination and Remuneration

Committee appointed Shri Alok Perti and Dr. Amit Biswas as additional directors in the capacity of Independent Directors for the first term of 3 consecutive years w.e.f. 22nd April, 2019. The Shareholders at their Annual General Meeting held on 14th August, 2019 have approved the appointment of Shri Alok Perti and Dr. Amit Biswas as Independent Directors of the Company.

Further, the Board in its meeting held on 13th February, 2020 based on the recommendation of Nomination and Remuneration Committee appointed Shri Bhuwan Chandra Tripathi as an additional director in the capacity of Independent Director for the first term of 3 consecutive years w.e.f. 13th February, 2020. The detailed profile of Shri Bhuwan Chandra Tripathi is disclosed in the notice of Annual General Meeting of the Company.

Further, the Board based on the recommendation of Nomination and Remuneration Committee approved the Appointment of Smt. Renu Challu as an additional director in the Capacity of Woman Independent Director of the Company for the first term of 3 consecutive years w.e.f. 13th May, 2020 and Shri Sujal Anil Shah as an additional director in the capacity of Independent Directors of the Company for the first term of 5 consecutive years w.e.f. 30th June, 2020. The detailed profile of Smt. Renu Challu and Shri Sujal Anil Shah are disclosed in the notice of Annual General Meeting of the Company.

Resignation

Shri Anil Singhvi, Independent Director of the Company tendered his resignation to be efiective from 19th April, 2019 due to his active involvements with NGOs he has been associated with and other personal engagements. The Board placed on record its appreciation of the valuable contribution rendered by Shri Singhvi during his tenure as director on the Board of the Company.

Re-appointment

Shri M. P. Shinde retires by rotation at the ensuing Annual General Meeting pursuant to provisions of Section 152 of the Companies Act, 2013 and rules made thereunder and being eligible, ofiers himself for re-appointment at the ensuing Annual General Meeting.

The Shareholders of the Company at the Annual General Meeting held on 21st September, 2017 had approved the reappointment of Shri. Pranay Vakil as an Independent Director of the Company for a second term with efiect from 31st July, 2017 up to 30th July, 2020 or up to the conclusion of Annual General Meeting for the Financial Year 2019-20, whichever is later.

The provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 provides that an Independent Director can be appointed for a maximum of 2 terms.

In light of the of aforesaid provisions, Shri Pranav Vakil will cease to be an Independent Director of the Company post the Annual General Meeting to be held on 21st September, 2020. The Board places on record its sincere appreciation to the valuable guidance provided by Shri Pranay Vakil during his tenure as Independent Director of the Company.

NUMBER OF MEETINGS OF BOARD OF DIRECTORS

Five Board Meetings were held during the Financial Year 2019-2020. These meetings were held on 22nd April, 2019, 30th May, 2019, 14th August, 2019, 13th November, 2019 and 13th February, 2020.

CHANGES IN KEY MANAGERIAL PERSONNEL (KMP)

During the year under review, there were no changes in Key Managerial Personnel.

A STATEMENT REGARDING THE OPINION OF BOARD THE WITH REGARD TO INTEGRITY, EXPERTISE AND EXPERIENCE (INCLUDING THE PROFICIENCY) OF THE INDEPENDENT DIRECTORS APPOINTED DURING THE YEAR

During the year under review, the following were the Independent Directors appointed on the Board of the Company:

1. Shri Alok Perti

2. Dr. Amit Biswas

3. Shri Bhuwan Chandra Tripathi

4. Smt. Renu Challu (appointed w.e.f. 13th May, 2020)

5. Shri Sujal Anil Shah (appointed w.e.f. 30th June, 2020) The Board is of the opinion that the aforesaid Independent Directors appointed on the Board of the Company are persons of high integrity and reputation, they possess the requisite expertise and experience (including the proficiency).

SIGNIFICANT MATERIAL ORDERS PASSED BY THE REGULATORS / STATUTORY AUTHORITIES:

1. As disclosed in the last year's report, efiective 15th May, 2014, domestic gas supply to the Company was arbitrarily stopped by the Ministry of Petroleum and Natural Gas. The Company successfully challenged the same before the Hon' ble Delhi High Court, which by its Orders dated 7th July, 2015 and 19th October, 2015 directed the Government of India (GoI) to restore the supply of gas. Review petition filed by the GoI, challenging the said Orders was rejected by the said Court. Further, the GoI also filed the Special Leave Petition (SLP) before the Hon'ble Supreme Court of India against the Order of Hon'ble Delhi High Court, which was also disposed without granting any relief to the GoI. The GoI has filed an afidavit before the Hon'ble Delhi High Court stating that Inter Ministerial Committee (IMC) has decided to recommend supply of pooled gas to the Company, subject to approval of the Competent Authority. GoI has further filed an application in the Hon'ble Delhi High Court seeking dismissal of the matter. The Company is contesting the said application since the Competent Authority has not decided based on the recommendation of the said IMC and the application so filed is pre-mature. The hearing in the Delhi High Court is now posted in the month of August 2020.

2. The Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, had withheld subsidy due to the Company in accordance with applicable Nutrient Based Subsidy (NBS) Scheme of the Government of India (GoI), alleging undue gain arising to the Company on account of supply of cheap domestic gas. The Company had filed a Writ Petition in the Hon'ble High Court of Judicature at Bombay, challenging the withholding of subsidy. Based on the directive of the High Court, the GoI released the subsidy amounting to Rs. 463 Crore and subsidy amounting to Rs. 310 Crore was withheld pending final decision. On the request of the Company, the DoF has released subsidy amounting to Rs. 310 Crore against a Bank Guarantee pending final decision. The Company has now filed a writ petition in the Delhi High Court since, based on the decision taken by Government with regard to reasonableness of profit, there was no undue gain made by the Company as alleged and there was no question of renewing the Bank Guarantee. The Delhi High Court has ordered to keep the status-quo for both the Petitioners and Respondents and further ordered that no coercive action be taken against the Company [Petitioners] till the next date of hearing. The matter is scheduled to be further heard by Delhi High Court in the month of August, 2020.

INDIAN ACCOUNTING STANDARDS, 2015

The annexed financial statements for the Financial Year 2019-20 and corresponding figures for 2018-19 comply in all material aspects with Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 (the Act) [Companies (Indian Accounting Standards) Rules, 2015] and other relevant provisions of the Act.

CONSOLIDATED FINANCIAL STATEMENTS

The audited consolidated financial statements incorporating the duly audited financial statements of the subsidiaries, and as prepared in compliance with the Companies Act, 2013, applicable Accounting Standards and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this Annual Report.

A separate statement containing the salient features of Company's subsidiaries, associates and joint venture subsidiary in the prescribed form AOC-1 is annexed separately.

DIRECTORS' RESPONSIBILITY STATEMENT

To the best of their knowledge and based on the guidance and insights from the Auditors and pursuant to the provisions of sub-section (5) of Section 134 of the Companies Act, 2013, your Directors confirm that: i) in the preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures; ii) the accounting policies have been selected and applied consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of afiairs of the Company at the end of the Financial Year on 31st March, 2020 and of the profit and loss of the Company for that period; iii) proper and suficient care have been taken for maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv) the annual accounts are prepared on a going concern basis; v) internal financial controls, to be followed by the Company are duly laid down and these controls are adequate and were operating efiectively; and vi) systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating efiectively.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12)

During the year under review, there were no frauds reported by the auditors to the Audit Committee or the Board under Section 143(12) of the Companies Act, 2013.

STATUTORY AUDITORS AND THEIR REPORT

The Shareholders of the Company at the Thirty Seventh Annual General Meeting held on 21st September, 2017 had accorded their approval pursuant to the provisions of Sections 139, 141 and other applicable provisions of the Companies Act, 2013 and Rules made thereunder to appoint, M/s. B S R & Associates LLP (Chartered Accountants) (Firm Registration number: 11623IW/W-100024), as the Statutory Auditors of the Company for a period of five years commencing from the conclusion of Thirty Seventh Annual General Meeting until the conclusion of Forty Second Annual General Meeting.

The Auditors' Report to the Shareholders for the year under review does not contain any qualification, reservation or adverse remark or disclaimer.

SECRETARIAL AUDITORS & SECRETARIAL STANDARDS

The Secretarial Auditors, M/s. SVD & Associates, Practising Company Secretaries, has issued Secretarial Audit Report (Form MR-3) for the Financial Year 2019-20 pursuant to Section 204 of the Companies Act, 2013 and pursuant to Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which is annexed to Directors' Report. (Refer Annexure-1).

The observations of the Secretarial Auditors in their report are self-explanatory and therefore, the Directors do not have any further comments to ofier on the same.

Pursuant to Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, M/s. Jog Limaye & Associates, Practising Company Secretary, the Secretarial Auditor of the Smartchem Technologies Limited and Performance Chemiserve Limited, material unlisted subsidiaries, has issued Secretarial Audit Report (Form MR-3) for the Financial Year 2019-20. The said reports thereon forms part of such subsidiaries' respective annual reports.

The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued by The Institute of Company Secretaries of India and such systems are adequate and operating efiectively.

COST AUDITORS

Your Directors had appointed M/s Y. R. Doshi & Company, Cost Accountants, as the Cost Auditors for the Financial Year 2019-20. M/s Y. R. Doshi & Company, Cost Accountants will submit the cost audit report along with annexure to the Central Government (Ministry of Corporate Afiairs) in the prescribed form within specified time and at the same time forward a copy of such report to your Company.

The Cost Audit Report for the Financial Year ended 31st March, 2019 was duly filed with the Central Government (Ministry of Corporate Afiairs).

Pursuant to the provisions of Section 148 of Companies Act, 2013, the Board of Directors of the Company has appointed M/s Y. R. Doshi & Company, Cost Accountants, for conducting Cost Audit of the Company for the Financial Year ending 31st March, 2021 at a remuneration, of Rs. 2,25,000/- (Rupees Two Lakhs twenty five thousand only) plus GST as applicable and reimbursement of travel and out-of-pocket expenses, which shall be subject to the approval of the shareholders at the ensuing Annual General Meeting.

The provisions relating to maintenance of cost records as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 is required to be maintained by the Company and accordingly, such accounts and records were made and maintained.

INTERNAL AUDITOR

The Board had appointed Ernst & Young (EY) as an Internal Auditor in compliance with Section 138 of the Companies Act, 2013 and rules made thereunder.

EY are acting as an Internal Auditor of the Company since Financial Year 2016-17.

Further, the Board on the recommendation of the Audit Committee, renewed the contract for appointment of EY as an Internal Auditor of the Company for the Financial Year 2020-21.

PARTICULARS OF LOANS, INVESTMENTS AND GUARANTEES

Details of investments made, loans advanced and guarantees given by the Company are given in the notes to the Financial Statements.

RELATED PARTY TRANSACTIONS

The Company has entered into contract / arrangements with the related parties in the ordinary course of business and at arm's length basis. Thus, provisions of Section 188(1) of the Companies Act, 2013 are not applicable.

CORPORATE GOVERNANCE

Pursuant to provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a separate section titled ‘Corporate Governance' is attached to this Annual Report.

SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES

Report on the performance and financial position of subsidiaries, associates and joint venture company in specified format is annexed to Board's Report. (Refer Annexure-2).

AWARDS AND ACCOLADES

Please refer to section "Awards and Accolades" in this Annual Report for details of the awards received by the Company during the year under review.

NOMINATION AND REMUNERATION COMMITTEE

The Board of Directors of the Company has constituted Nomination and Remuneration Committee and also approved the Nomination and Remuneration Policy which inter-alia contains appointment criteria, qualifications, positive attributes and independence of Directors, removal, retirement and remuneration of Directors, Key Managerial Personnel (KMP) and Senior Management Personnel of the Company.

Nomination and Remuneration Policy is available on the website of the Company on the following web link: https://www.dfpcl.com/wp-content/uploads/2017/04/ Nomination-and-Remuneration-Policy.pdf. There is no change in the Nomination and Remuneration Policy during the year under review. The Nomination and Remuneration Policy is provided in Annexure 3 of the Board's Report.

RISK MANAGEMENT COMMITTEE

The Board of Directors of the Company has constituted a Risk Management Committee to assess risks in the operations of business units of the Company, to mitigate and minimize risks assessed in the operations of business units, periodic monitoring of risks in the operations of business units, to look after cyber security and other matters delegated to the Committee by Board of Directors of the Company from time to time.

Information on the development and implementation of Risk Management Policy of the Company including identification therein of elements of risk which in the opinion of the Board may threaten the existence of the Company is given in the Corporate Governance Report.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

Your Company is engaged in concerted CSR initiatives through Ishanya Foundation as Operating Agency for CSR activities. The CSR initiatives of your Company are focused and the entire approach has become more structured. The Board of Directors of the Company has approved a comprehensive

CSR Policy which is available on the website of the Company at www.dfpcl.com

The details of the initiatives taken by the Company on CSR during the year as per the Companies (Corporate Social Responsibility Policy) Rules, 2014 is given in Annexure forming part of this report. (Refer Annexure-4).

The details of composition of Corporate Social Responsibility Committee and other details are provided in the Corporate Governance Report.

AUDIT COMMITTEE COMPOSITION

The details of composition of Audit Committee and other details are provided in the Corporate Governance Report.

ANNUAL RETURN

The Extract of Annual Return as provided under Section 92(3) of the Companies Act, 2013, and as prescribed in Form No. MGT- 9 of the rules prescribed under Chapter VII of the Companies Act, 2013, is appended as Annexure 5. The Extract of Annual Return is available on the Company's website at www.dfpcl.com

PERFORMANCE EVALUATION OF CHAIRMAN, DIRECTORS, BOARD AND COMMITTEES

Information on the manner in which formal annual evaluation has been made by the Board of its own performance and that of its Committees and individual directors is given in the Corporate Governance Report.

INDEPENDENCE OF DIRECTORS

All the Independent Directors of the Company have given declaration that they meet the criteria of independence as provided in Sub-Section (6) of Section 149 of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and they are not aware of any circumstances or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external infiuence. The Board of Directors have taken on record the declaration and confirmation received from the Independent Directors and verified the veracity of such disclosures.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company follows the practice of conducting familiarisation programme of the independent directors as detailed in the Corporate Governance Report which forms part of the Annual Report.

WHISTLE BLOWER POLICY

The Company believes in the conduct of the afiairs of its constituents in a fair and transparent manner by adopting the highest standards of professionalism, honesty, integrity and ethical conduct. The Company has a Whistle Blower Policy under which the employees are free to report violations of the applicable laws and regulations and the Code of Conduct.

Whistle Blower Policy is available on the website of the Company at the following weblink:https://www.dfpcl.com/ wp-content/uploads/2018/12/WhistleBlowerPolicy.pdf

ADEQUACY OF INTERNAL FINANCIAL CONTROLS

Your Company's internal financial control systems commensurate with the nature, size and complexity of the businesses and operations. These are periodically tested and certified by Statutory as well as Internal Auditors. Significant audit observations and the follow up actions are reported to the Audit Committee.

MATERIAL CHANGES AND COMMITMENTS

There have been no material changes and commitments, afiecting the financial position of the Company, which have occurred between the end of the financial year of the Company and the date of this Report.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Pursuant to the provisions of Section 136(1) of the Act and as advised, the statement containing particulars of employees as required under Section 197(12) of the Act read with Rule 5(1) and 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, will be available for inspection. Members interested in obtaining a copy of the same may write to the Company Secretary at investorgrievance@dfpcl.com and the same will be furnished on request. Hence, the Annual Report is being sent to all the Members of the Company excluding the aforesaid information.

NAMES OF COMPANIES WHICH HAVE BECOME OR CEASED TO BE THE SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING THE YEAR

Desai Fruits and Vegetables Private Limited (DFV)

The Company was holding 28.67% of the Share Capital of Desai Fruits and Vegetables Private Limited (DFV), an Associate Company. The DFV business was mainly focused on growing banana plantation and supplies to domestic as well as international market.

Further, as part of the strategy to divest from non-core investments, the Company has sold 75% of its holding i.e. 21.51% of the share capital. Currently, the Company is holding only 5.30% of the Share Capital of DFV.

Consequent to the aforesaid stake sale, DFV is no more an associate company of the Company.

Mumbai Modern Terminal Market Complex Private Limited

TheCompanyhadanassociateCompanyviz.MumbaiModern Terminal Market Complex Private Limited (MMTMCPL). The Company was holding 40 % stake in MMTMCPL.

During the year under review, the Company has written ofi the investment in MMTMCPL, as Unity Infraprojects Limited (Unity), the holding Company of MMTMCPL is under liquidation (IBC). Therefore, MMTMCPL is no more an associate company of the Company.

Ishanya Brand Services Limited (IBSL)

The Company has an associate Company viz. Ishanya Brand Services Limited (IBSL). The Company was holding 49.99% stake in IBSL.

IBSL is engaged in the retail business of buying and selling home furnishings goods. IBSL was incorporated on 8th May 2008 in India. The Company has increased its stake in IBSL from 49.99% to 74.995%. Consequently, IBSL has become the Subsidiary of the Company.

FIXED DEPOSITS

Your Company has not accepted any deposits, covered under Chapter V of the Companies Act, 2013 and hence no details pursuant to Rule 8 (5) (v) and 8 (5) (vi) of the Companies (Accounts) Rules, 2014 are reported.

DISCLOSURE AS PER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Pursuant to Section 22 of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 read with Rule 14, the internal committee constituted under the said act has confirmed that no complaint / case has been filed / pending with the Company during the year. The said policy has been uploaded on the internal portal of the Company for information of all employees.

The Company has complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Work Place (Prevention, Prohibition and Redressal) Act, 2013.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

As required by the Companies (Accounts) Rules, 2014, the relevant data pertaining to conservation of energy, technology absorption and foreign exchange earnings and outgo are annexed to Board's Report. (Refer Annexure-6).

BUSINESS RESPONSIBILITY REPORT

Regulation 34(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, inter alia, provides that the annual report of the top 1,000 listed entities based on market capitalisation (calculated as on 31 March of every financial year), shall include a Business Responsibility Report.

As the Company is one of the top 1,000 listed entities, the Company has presented its Business Responsibility Report for the financial year 2019-20, which is part of this Annual Report.

As a green initiative, the BR Report has been hosted on the Company's website i.e. www.dfpcl.com

ACKNOWLEDGEMENT

Your Directors wish to place on record their sincere appreciation to the Company's bankers, customers, vendors, investors and all other stakeholders for their continued support during the year. Your Directors are also pleased to record their appreciation for the dedication and committed contribution made by employees at all levels who through their competence and hard work have enabled your Company to achieve good performance amidst challenging times and look forward to their support in the future as well.

For and on behalf of the Board

S. C. MEHTA

Chairman and Managing Director

Place: Pune

Date: 30th June, 2020

   

Deepak Fertilizers & Petrochemicals Corp Ltd Company Background

S C MehtaS C Mehta
Incorporation Year1979
Registered OfficeSai Hira Survey No 93,Mundhwa
Pune,Maharashtra-411036
Telephone,Managing Director
Fax
Company SecretaryK Subharaman
AuditorBSR & Associates
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarKFin Techologies Pvt Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032

Deepak Fertilizers & Petrochemicals Corp Ltd Company Management

Director NameDirector DesignationYear
C K Mehta Chairman Emeritus 2019
S C Mehta Chairman & Managing Director 2019
Parul S Mehta Director 2019
Pranay Vakil Independent Director 2019
Partha Bhattacharyya Independent Director 2019
K Subharaman Company Secretary 2019
Madhumilan P Shinde Director 2019
Ashok Kumar Purwaha Independent Director 2019
Berjis Minoo Desai Independent Director 2019
Alok Perti Independent Director 2019
Amit Biswas Independent Director 2019
Bhuwan Chandra Tripathi Independent Director 2019
Renu Challu Addtnl Independent Director 2019
Sujal Shah Independent Director 2019

Deepak Fertilizers & Petrochemicals Corp Ltd Listing Information

Listing Information
BSE_500
BSESMALLCA
BSEALLCAP
BSEMETERIA
SML250
MSL400

Deepak Fertilizers & Petrochemicals Corp Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Industrial Chemicals NA 0001678.13
Revenue from Realty Business NA 00014.98
Power Kwh0007.45
Furniture NA 0006.65
Other Operating Income NA 0000.54
Bulk Chemicals NA 0000
Bulk Chemicals - Traded NA 0000
Other Traded Goods Sold NA 0000
Excise duty NA 0000
Stock-in-trade NA 0000
Sale of Products NA 0000
Bio Fertilizer Solid - Traded MT 0000
Crude IPE MT 0000
DEE Surf - Traded MT 0000
Manufactured Fertilisers NA 0000
MGSo4 MT 0000
Micro Nutrients - Traded MT 0000
Mixtures - Traded MT 0000
Nitrophosphate NA 0000
Others NA 0000
Solid Soluble Fertiliser-TradeMT 0000
Tropicote - Traded MT 0000
Subsidy on Traded Fertilisers NA 0000
Adjustments NA 0000
Fruits-Traded MT 0000
Seeds-Traded MT 0000
Alcohol Ethoxylate-Lauryl TradMT 0000
Propane MT 0000
Liquid CO2 NA 0000
Sulphur MT 0000
Sulphur Bentonite MT 0000
Sulphur-Traded MT 0000
Hydrogen. NA 0000
Nitric Acid NA 0000
Carbon Dioxide MT 0000
Ammonia MT 0000
Ammonia-Traded MT 0000
Magnesium sulphate - Traded MT 0000
Zinc Sulphate - Traded MT 0000
Propylene Glycol-Traded MT 0000
Toulene-Traded MT 0000
Ortho Xylene-Traded MT 0000
Chloroform-Traded MT 0000
Methanol MT 0000
Methanol-Traded MT 0000
Methyl Formamide Di-Traded MT 0000
Iso Propyl Alcohol NA 0000
Glycol-Methyl Ethyl Traded MT 0000
Cinnamic Aldehyde - Traded MT 0000
Acetone-Traded MT 0000
Methyl Isobutyl Ketone-Traded MT 0000
Bio Fertilizers Liquid-Traded KL 0000
Bulk Fertilizers - Traded NA 0000
CNA MT 0000
DNA MT 0000
Specialty Fertilizers Traded NA 0000
Bio Fertilizers-Traded MT 0000
Fertilizers-Organic MT 0000
Complex Fertilizer NA 0000
Ammonium sulphate-Traded MT 0000
Ammonium Nitrate MT 0000
Ammonium nitrate Traded MT 0000
Ammonium Nitrate Phosphate MT 0000
Di-Ammonium Phosphate-Traded MT 0000
Mixture Fertilisers NA 0000
Single Super Phosphate-Traded MT 0000
SSP-Traded MT 0000
Muriate of Potash-Traded MT 0000
Muriate of Potash-Traded NA 0000
NP MT 0000
NP-Ethoxylates 9.5 - Traded MT 0000
NPK NA 0000
Pesticides-Traded MT 0000
IPA MT 0000

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