Key Metrics of Deepak Phenolics Limited
About Deepak Phenolics Limited
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 27 Aug 2026 | ICRA | Reaffirmed | AA | A1+ | Stable | ₹729 Cr | View |
Credit strengths (ICRA, Aug 2026)
+ Long operating history and established position in global chemical intermediates industry
DNL has been operating in the chemical industry for nearly five decades.
+ Diversified product profile mitigates cyclicality risks in different segments
While the company started with a limited portfolio of low-value bulk chemicals, it has grown its product range to include high-value speciality chemicals for multiple end-user applications.
+ Strong operational profile characterised by multipurpose plants with integrated operations ; robust performance of phenol segment
The company’s production facilities include processes that allow vertical integration for most products, leading to significant cost savings.
Credit challenges
− Profitability exposed to volatility in raw material prices; formula -linked price contracts mitigate risk in some segments
The prices of a few key products are linked to the movement in crude oil prices.
− Significant project execution risk amid sizeable capex programme
The company plans to undertake sizable capex over FY2027 to FY2030, which will expose it to project execution risks and moderate the credit metrics.
Could lead to an upgrade
The ratings may be upgraded if the ongoing capex plans (including the polycarbonate project and the phenol/IPA/acetone project) are executed timely without any major time/cost overruns and the capacities witness a healthy ramp-up, resulting in a sustained improvement in the leverage and coverage metrics.
Could lead to a downgrade
Any material delay in the execution of the ongoing capex and/or material cost overruns , resulting in a sustained moderation in the credit profile of the Group may trigger a downgrade. Any sustained moderation in the Group’s revenue and profitability which increases the reliance on debt for the execution of the capex programme would moderate the credit metrics and may cause a downgrade. A specific credit metric for downgrade would be DSCR of less than 2.5x on a sustained basis.
Agency-reported financials (ICRA, 27 Aug 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹5,805 Cr | ₹5,375 Cr |
| PAT | ₹591 Cr | ₹540 Cr |
| OPBDITA/OI | 14.5% | 14.9% |
| PAT/OI | 10.2% | 10.0% |
| Total outside liabilities/Tangible net worth (times) | 0.23× | 0.24× |
| Total debt/OPBDIT (times) | 0.20× | 0.40× |
| Interest coverage (times) | 45.90× | 43.30× |
| Revenue growth (YoY) | — | −7.4% |
| EBITDA (margin × income) | ₹842 Cr | ₹801 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹168 Cr | ₹320 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹18.34 Cr | ₹18.49 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| limits – Cash Credit Short-term – Non Fund | Non-fund based limits | ₹729 Cr | ₹729 Cr | 0.0% | AA (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 75% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 71% chance the next rating action is stable or better
- Current rating AA (investment grade)
- Interest coverage 43.3×
Rated limits by facility
Timeline
From the report
Liquidity position: Adequate The Group’s free cash balance and liquid investments were at ~Rs. 438.3 crore as on March 31, 2026.
From the report
DNL has a sanctioned working capital facility of Rs. 490 crore as on March 31, 2026, at a standalone level, with negligible utilisation as on Marc h 31, 2026.
From the report
It also has a sanctioned interchangeable working capital limit of Rs. 1,230 crore as on March 31, 2026, of which ~Rs. 310 crore has been utilised.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.