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DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD.

04 April 2025 | 12:00

Industry >> Fertilisers

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ISIN No INE501A01019 BSE Code / NSE Code 500645 / DEEPAKFERT Book Value (Rs.) 449.69 Face Value 10.00
Bookclosure 10/09/2024 52Week High 1443 EPS 35.05 P/E 32.43
Market Cap. 14348.82 Cr. 52Week Low 503 P/BV / Div Yield (%) 2.53 / 0.75 Market Lot 1.00
Security Type Other

History of Company

The company history sections lists out major chronological events that happened to the company.
YEAR EVENTS 1979 - The Company was incorporated as a private Ltd company on 31st May, and converted into a public company on 14th June, 1979. It manufactures anhydrous liquid ammonia which is a heavy chemical as well as a fertiliser. The company has been promoted by Deepak Nitrite Ltd, and Shri C.K. Mehta.

- The Company entered into an agreement with Fish International Engineers Inc., U.S.A. (FISH) for the supply of process design, complete basic and detailed engineering within the ammonia plant battery limit including all equipment specifications for purchase and supply of data for off sites.

- FISH has guaranteed the performance of the plant capacity, raw material and utility consumption and product quality.

- The Company entered into an agreement with HALDOR Topsoe, Denmark for the supply of design for ammonia converter and review of synthesis loop design.

- The Company entered into a Patent Licence & Technology Transfer agreement with Union Carbide Corporation, New York, U.S.A., for their amine guard process for carbon-di-oxide removal.

- The Company entered into an agreement with Engineers India Ltd., for providing consultancy, review of design, recommending design changes, detailed engineering for off-sites, preparation of equipment specifications for off-sites and associated engineering work.

1982 - 10 No. of equity shares subscribed for by Deepak Nitrate Ltd. 1,50,000 - 13.5% pref. and 1,14,99,990 No. of equity shares issued at par; (a) 45,99,990 No. of equity shares issued at par; (b) 45,99,990 Equity shares reserved for firm allotment to Deepak Nitrite, Ltd. and C.K. Mehta and his family; (c) 11,50,000 No. of equity shares reserved firm allotment to International Finance Corporation, Washington (d) 11,50,000 No. of equity shares reserved for allotment on preferential basis to NRIs and investors from Oil Exporting Developing Countries with repatriation rights and (e) 46,00,000 No. of equity shares and 1,50,000 Pref. shares offered to the public in May. The original 9-11% Pref. shares redeemed.

1985 - The Company received a letter of intent to manufacture per annum 75,000 tonnes of dilute nitric acid, 33,000 tonnes of concentrated nitric acid and 36,000 tonnes of low density prilled ammonium nitrate.

1986 - The Company received a letter of intent for the manufacture of 2,29,500 TPA of ammonium nitrophosphate (ANP). The Company undertook an integrated project for the manufacture of nitric acid, ammonium nitrate methanol and ANP.

1988 - 25-15% Pref. shares and 3,000 No. of equity shares forfeited in the previous year reissued.

1989 - Production and sales were affected by closure of the plant for about 2 months due to strike by workers.

- A letter of intent was received for the manufacture of 45,000 TPA of various resins based on methanol.

- During January, the Company issued 190,00,000-14% secured convertible debentures of Rs 100 each for cash at par of which 60,00,000 debentures were offered on rights basis in the proportion 4 deb. : 10 equity shares. Additional 9,00,000 debentures were allotted to retain over subscription. Also 20,00,000 debentures were reserved and allotted to UTI, LIC, ICICI and GIC.

- Of the balance 110,00,000 debentures, the following were reserved for allotment on a preferential basis: (i) 26,00,000 debentures to NRI's on repatriation basis (ii) 13,00,000 debentures to farmers, agriculturists, agricultural co-operative societies and investors from rural areas and (iii) 9,50,000 debentures to employees (including Indian working directors)/workers of the Company.

- The remaining 61,50,000 debentures were offered for public subscription. Additional 19,50,000 debentures were allotted to retain over subscription (1,350 shares to Iris and remaining 19,48,650 to public).

- Each debenture with a face value of Rs. 100 consists of 3 parts viz., Part A of Rs 20, Part B of Rs 30 and Part C of Rs 50 each with a detachable warrant.

- Part A is to be compulsorily and automatically converted into 1 equity share of Rs 10 each at a premium of Rs 10 per share on 1st January, 1990.

- Part B is to be compulsorily and automatically converted into 1 equity share of Rs 10 each at a premium of Rs 20 per share on 1st January, 1991. 218,50,000 No. of equity shares issued on 1.1.1990 on conversion of Part A of the debentures.

- Part C of each debenture the holder shall have a right to seek allotment of one equity share of Rs 10 as may be fixed by CCI. If Part C is not surrendered for allotment of one equity share, it will be redeemed after the expiry of 7 years or not later than 10 years from the date of allotment of debentures.

1990 - Fertilisers were sold under the brand name "Mahadhan".

- The Company undertook to implement projects for manufacture of resins and carbon-di-oxide/dry ice at a total estimated cost of Rs 75 crores.

1991 - A major breakdown of one of the two engines/compressors and disruption of gas supply due to the nationwide strike at ONGC.

- The ammonium nitrophosphate plant along with the second stream of the dilute nitric acid plant and the Methanol plant were proposed to be commissioned by the end of October.

- Trial productions of second stream dilute nitric acid plant, ammonium nitrate plant and ammonium nitro phosphate plant were commissioned. Methanol plant was commissioned in December.

1992 - The methanol plant affected due to an explosion and the ANP plant due to partial decontrol of fertilisers. The methanol plant remained closed for the major part of the year due to an explosion in the converter section of the plant. The ANP plant remained practically closed since September.

- The disruption of methanol due to the explosion on 30th October, and the financial crunch experienced by the Company, compelled the company to keep projects for manufacture of resins and CO2 in abeyance.

1994 - The Company re-activated the carbon-dioxide project.

- During November, the Company allotted 150,00,000 warrants to the promoter group against 10% up front payment carrying the right to convert the same into equity shares within 18 months price of Rs 28.65 per share.

- 151,02,093 No. of equity shares were allotted at a premium of Rs 10 per share to those who exercised the warrants on 31.5.1995.

- The Company decided to undertake debottlenecking of the ammonia plant which would raise the capacity by 20%.

1996 - The company proposed to debottleneck the Ammonia ANP fertiliser plant in order to augment their capacities and to bring down the cost per ton. Also proposed to add bulk fertilisers as well as specialised agro products and services to provide an enlarged basket of products to the farmers at a single window.

- Pref. shares redeemed during the year, 150,00,000 shares allotted (prem. Rs 18.65) to promoters on conversion of warrants. 4,27,900 shares forfeited.

2000 - The Pune-based Deepak Fertilizers and Petrochemicals Corporation Ltd is setting up a new nitric acid plant with an annual capacity of one lakh tonnes at Taloja in Maharashtra.

           -  Deepak Fertilisers and Petrochemicals Corporation Ltd has chalked
              out plans to invest about Rs.100 cr.
2002

-Board approves for the buyback of equity shares upto 10% of its paid up capital and free reserves.

-Mr A C Mehta appointed as the additional Director on the Board of the company.

-Hands over its price bid to fertilizer unit of Rourkela Steel Plant.

-Shri D C Mehta ,MD is elevated to the position of Vice-chairman and in his place Shri S C Mehta has been appointed as the MD.

2003

-Buyback of equity shares closed on January 20.

-Inducts Knight Frank as its real estate consultant.

-Board approves for setting up 6MW capacity cogeneration capitive power plant .

2004

-Deepak Fertilizers and Petrochemicals Corporation Ltd has informed that the company has entered into License Agreement and related contracts with Aker Kvaerner Inc., Houston, USA, for manufacture of 70,000 MT per annum Isopropyl Alcohol (IPA) at the plant at Taloja, Mumbai. The total outlay for this project is estimated to be Rs. 2,000 million

2010

- Deepak Fertilisers & Petrochemicals Corporation Ltd has informed that Shri Pranay Vakil has joined the Board of Directors of the Company.

2011

- DFPCL awarded for `Excellence in Fertiliser Extension Services'.

- DFPCL was ranked amongst the Top 500 Companies according to Fortune (India).

- Aquisition of 49% equity stake, with management control, in the Gujarat-based Desai Fruits And Vegetables Pvt. Ltd.

2012

-The Company has recommended dividend of 55 % i.e. Rs. 5.50 (Previous Year Rs. 5.00) per share on Equity Shares (Face Value of Rs. 10/- each) of the Company for the year ended March 31, 2012.

-Deepak Fertilisers to invest Rs 415 cr on expansion activities

2013

-The Company has recommended dividend of 55% (Rs. 5.50 per share) on equity shares of the Company for year ended March 31, 2013.

-Deepak Fertilisers And Petrochemicals Corporation Limited participates in a bidding process for phosphate project in Togo, West Africa

-The Company has acquired 2,89,91,150 equity shares of face value of Rs. 10/- each representing 24.46% of share capital of Mangalore Chemicals & Fertilisers Limited.

2014

-The Company has recommended dividend of 65% i.e. Rs. 6.50 (Previous Year Rs. 5.50/- ) per share on the equity shares (face value of Rs. 10/- each) of the Company for the year ended March 31, 2014. -Deepak Fertilisers - Joint Venture (JV) in Australia

2015 -Deepak Fertilisers Shareholders Agreement with Unity Infraproiects Limited -Deepak Fertilisers resume production of ANP fertilizer -Deepak Fertilisers Order of Hon'ble High Court of Delhi in the gas discontinuation matter -Deepak Fertilisers zooms on HC verdict to resume gas supply

2016

-The Company plans to deploy a state-of-the-art manufacturing facility with an investment of Rs.550 crores.2. The project will be funded partly through internal accruals and partly through debt.

2017

-Fertilizer major Deepak Fertilisers and Petrochemicals Corp Ltd (DFPCL) has said that it plans to set up a brownfield isopropyl alcohol plant with high purity diisopropyl ether as co-product at its existing Tajola facility. The expansion at Taloja in neighbouring Raigad district will share synergies in various storages and utilities with the existing isopropyl alcohol (IPA) plant

-Deepak Fertilisers & Petrochemicals Corporation’s (DFPCL) wholly owned subsidiary - Smartchem Technologies (STL) has decided to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.

-The company has said that Smartchem technologies Ltd. (STL) a wholly owned subsidiary of DFPCL has decided to acquire majority stake in Performance Chemiserve Private Limited (PCPL), a Company engaged in packaging services to the chemical industry since 2006. STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the Subsidiary of STL and Step-down Subsidiary of DFPCL.

2018

-Deepak Fertilizers And Petrochemicals Corporation Limited has informed the Exchange regarding 'Upholding of Award and Order in Company's favour by Honorable Delhi High Court against GAIL'.

2018

-Deepak Fertilisers and Petrochemicals Corporation has received environment clearance for expansion of its fertiliser facilities in Raigad district of Maharashtra, which would entail an investment of Rs 190 crore, according to an official document.

2020

The Board Inter-alia approved:1.Issue Price: Rs. 133/- per fully paid-up equity share (including a premium of Rs. 123/- per fully paid-up equity share over the face value of Rs. 10 per equity share).2. Rights entitlement ratio: 3 (three) fully paid-up equity shares for every 20 (twenty) fully paid-up equity shares held by the eligible equity shareholders of the Company, as on the record date.

-Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Monday announced its foray into hand sanitiser segment under the brand name 'Cororid'. The product based on Isopropyl Alcohol (IPA) is available in different volumes from 500 millilitre, 1 litre, 5 litre, 10 litre, 20 litre, 25 litre, 200 litre to tanker load, the company said in a regulatory filing. The 'Cororid' hand sanitiser has an effective anti-bacterial, antifungal and anti-viral agent with proven disinfectant properties which does not dehydrate and is soft on the skin,

2022

-Smartchem Technologies Limited to invest Rs. 2,200 crore in its Global Scale Technical Ammonium Nitrate Plant in Gopalpur, Odisha.

2023

-Company has signed a Supply Proposal for purchase of Natural Gas from Gujrat State Petroleum Corporation Ltd. (GSPC) for a period of three years effective from 1st May 2023.