Deepak Group

What Deepak Group does

Deepak Group, led by flagship Deepak Nitrite Limited (BSE/NSE: DEEPAKNTR, founded 1970, headquartered in Vadodara, Gujarat), is a 55-year-old Indian chemical intermediates manufacturer operating 8 manufacturing facilities across India and serving 1,500+ customers in 45+ countries. The company is structured around four operating subsidiaries: Deepak Phenolics Limited (Phenol, Acetone, IPA — 50%+ Indian market share since 2018), Deepak Chem Tech Limited (Polycarbonate, MMA/PMMA, Aniline, Fluorination products, Nitric Acid — under construction), Deepak Advanced Materials Limited (Polycarbonate compounding), and Deepak Oman Industries LLC (51% subsidiary for low-cost input access). The portfolio spans two major segments: Advanced Intermediates (Sodium Nitrite/Nitrate, Nitro Aromatics, Hydrogenation Products, DASDA, Optical Brightening Agents, Xylidines, Cumidines, Oximes) and Phenolics (Cumene, Phenol, Acetone, IPA, AMS), with the company reporting top-3 global positions in Xylidines, Cumidines, and Oximes. End-markets include pharmaceuticals, agrochemicals, dyes and pigments, laminates/plywood, automotive, construction, coatings, and emerging engineered-materials segments (EV, electronics, defense).

The company's products are built on eight chemistry platforms — nitration, hydrogenation, fluorination, photochlorination, oxidation, ammonolysis, and high-pressure reaction — supported by a DSIR-approved R&D centre (DRDC) in Nandesari with 100 R&D professionals, 23 PhDs, 24 granted patents, and 68 cumulative filings. Manufacturing operations are digitised via Advanced Process Control (APC), a Digital Twin platform, SAP RISE with HANA ERP, Laboratory Information Management System (LIMS), predictive maintenance analytics, and an AI-powered CCTV control room. The Revenue model is direct B2B chemical product sales through enterprise sales relationships and long-term contracts, with quotes-based pricing determined by volume, contract terms, and relationship duration. Revenue is approximately 80% domestic and 20% export, with FY 2023-24 consolidated revenue of ₹7,682 Crores, EBITDA of ₹1,199 Crores, PAT of ₹811 Crores, and a zero net debt position with ICRA AA / A1+ credit ratings. Key strategic initiatives underway include ₹14,000 Crores of planned capex by FY 2027-28 under MoUs with the Government of Gujarat, a Polycarbonate complex at Dahej (commissioning 2028 with Praxair/Linde HyCO partnership), and a polycarbonate compounding plant through Deepak Advanced Materials (inaugurated 2025).

Name

Deepak Group

Legal name

Deepak Nitrite Limited

Website

https://godeepak.com

Company type

Public

Founded year

1970

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Deepak Group (Deepak Nitrite Limited) is a 55-year-old Indian chemical intermediates manufacturer producing phenol, acetone, sodium nitrite, specialty intermediates, and emerging polycarbonate materials for pharmaceuticals, agrochemicals, laminates, automotive, and engineered-materials customers across 45+ countries.

Ownership category

akta.pro rank

Product category

Specialty Chemicals Manufacturing

NAICS

Chemical Manufacturing (325), Basic Chemical Manufacturing (3251), Petrochemical Manufacturing (325110), All Other Chemical Product and Preparation Manufacturing (32599), Other Chemical Product and Preparation Manufacturing (3259), All Other Basic Organic Chemical Manufacturing (325199)

SIC

Industrial Organic Chemicals (2860), Miscellaneous Chemical Products (2890), Chemicals & Allied Products (2800)

akta.pro primary industry

Water Treatment & Process Specialty Chemicals (IMAEABAN)

akta.pro secondary industries

Commodity Organic Chemicals (Solvents & Intermediates) (IMAEAAAB), Industrial Alcohols & Glycols (Commodity Grade) (IMAEAAAK), Specialty Surfactants & Performance Additives (IMAEABAL), Personal Care & Cosmetic Ingredients (IMAEABAJ)

Keywords

• Chemical intermediates manufacturing
• Phenol and acetone production
• Specialty chemicals
• Sodium nitrite and nitrate
• Performance polymers

Headquarters

HQ city

Vadodara

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Chemical Product Sales: Primary revenue stream from manufacturing and selling chemical products including Sodium Nitrite, Phenol, Acetone, IPA, Xylidines, Oximes, Toluidines, Cumidines, DASDA, Benzotrifluoride, and other specialty chemicals. Revenue generated through direct sales to customers in pharma, agrochemicals, dyes, construction, automotive, and other industries.
2. Phenol and Acetone (Deepak Phenolics): Subsidiary Deepak Phenolics Limited generates revenue from manufacturing Phenol and Acetone, serving laminate, plywood, automotive, construction, pharmaceuticals, adhesives, and other industries. Largest producer of Phenol and Acetone in India with 50%+ market share since 2018.
3. Specialty Chemicals (Deepak Chem Tech): Deepak Chem Tech Limited (DCTL) developing specialty chemicals including Polycarbonate, MMA/PMMA, Aniline, fluorination products, and nitric acid for various industrial applications.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Deepak Group manufactures and sells chemical intermediates and phenolic chemicals through its flagship Deepak Nitrite Limited and subsidiaries Deepak Phenolics, Deepak Chem Tech, and Deepak Advanced Materials. Its portfolio spans Sodium Nitrite/Nitrate, Nitro Aromatics, DASDA, Optical Brightening Agents, Xylidines, Cumidines, Oximes, Cumene, Phenol, Acetone, Isopropyl Alcohol, and emerging products such as Polycarbonate, MMA/PMMA, Aniline, Bisphenol-A, MIBK/MIBC, and Nitric Acid, serving pharmaceuticals, agrochemicals, dyes, laminates, automotive, and construction industries.

Product overview

Deepak Group, led by flagship Deepak Nitrite Limited, is a leading Indian chemical intermediates company serving numerous industries and 56+ applications with over 100 international quality products. The portfolio spans two main segments: Advanced Intermediates (Sodium Nitrite/Nitrate, Nitro Aromatics, Hydrogenation Products, DASDA, Optical Brightening Agents, Fuel Additives, Xylidines, Cumidines, Oximes, and Specialty Agrochemicals including Fluorination Products) and Phenolics (Cumene, Phenol, Acetone, Isopropyl Alcohol, Alpha Methyl Styrene). Under Deepak Chem Tech Limited, the company is expanding into high-performance polymers including Polycarbonate Resins & Compounds, Methyl Methacrylate (MMA)/PMMA, Aniline, and Bisphenol-A. Additionally, MIBK/MIBC solvents and Nitric Acid plants are under development for backward integration. The company serves applications across pharmaceuticals, agrochemicals, dyes and pigments, laminates, plywood, paints, coatings, automotive, construction, electronics, and more.

Differentiator

Problem solved

Functional benefit

Brands

• Deepak Foundation: CSR arm of Deepak Group focusing on community development, healthcare, education, and livelihood programs spanning over 1,500 villages in Gujarat
• Deepak Medical Foundation (DMF)
• Deepak Research and Development Centre (DRDC)
• Project Vivek Vidya
• Nidaan Van
• Project Surabhi
• Project Sangaath
• Project Gram Jal Sanchay
• Samaj Suraksha Sankul

Products and services

• Sodium Nitrite & Sodium Nitrate Sodium nitrite and sodium nitrate compounds manufactured since 1972 and used in various industrial applications including pharmaceuticals, dyes, and chemicals. Deepak is the leading producer in India since 1972.
• Nitro Aromatic Products Nitro toluene and related aromatic compounds manufactured at Nandesari facility for dyes, pigments, and agrochemical applications.
• Hydrogenation Products Specialty chemical intermediates produced through catalytic hydrogenation processes at the full-fledged Taloja plant.
• DASDA (4,4-Diamino Stilbene-2,2-Disulphonic Acid) Specialty chemical used in dye industry applications, manufactured at the Hyderabad (Telangana) Zero Liquid Discharge-certified unit.
• Optical Brightening Agents (OBA) Optical brightening agents used in paper and textile industries, manufactured at a world-class facility commissioned in 2014.
• Fuel Additives Chemical intermediates for fuel quality enhancement, including fuel additives for automotive and industrial applications.
• Cumene, Phenol & Acetone Deepak Phenolics Limited produces cumene, phenol, and acetone. Largest producer of Phenol and Acetone in India with 50%+ market share since 2018, with phenol plant achieving over 150% capacity utilization.
• Isopropyl Alcohol (IPA) Isopropyl alcohol manufactured for pharma and sanitizer applications, with forward integration from acetone production.
• Alpha Methyl Styrene (AMS) Specialty derivative product manufactured at the phenolics facility for various chemical applications.
• Xylidines Among top 3 global players for xylidines, used in dyes, rubber chemicals, and pharmaceutical intermediates.
• Cumidines Among top 3 global players for cumidines, specialty chemical intermediates for agrochemical and pharmaceutical applications.
• Oximes Among top 3 global players for oximes, used in chemical synthesis and industrial applications.
• Specialty Agrochemicals Specialty agrochemical intermediates including products from fluorination chemistry for crop protection applications.
• Polycarbonate Resins & Compounds High-performance engineering polymer for EV, electronics, semiconductors, mobility, medical devices, and defense applications. India is 100% import-dependent for polycarbonate; DCTL aims to be first domestic producer through new facility at Dahej.
• Methyl Methacrylate (MMA) & PMMA MMA for acrylate-based paints and coatings, and PMMA for electronic components, automotive, healthcare, and furniture applications. India is 100% import-dependent for MMA/PMMA.
• Aniline Key intermediate for producing polycarbonate (BPA) as well as epoxy resins, rubber chemicals, pharmaceutical and agrochemical applications.
• Bisphenol-A (BPA) Key intermediate for producing polycarbonate and epoxy resins, planned as part of backward integration strategy. India will be first domestic producer.
• Fluorination Products (BTF) Benzotrifluoride and related fluorination products from Dahej plant commissioned March 2024, strengthening backward integration for agrochemical intermediates.
• MIBK & MIBC Methyl Isobutyl Ketone (MIBK) and Methyl Isobutyl Carbinol (MIBC) - downstream derivatives of acetone for pharmaceutical and agrochemical solvent applications. Plants under commissioning.
• Nitric Acid Nitric acid production facility at Nandesari (Rs. 515 crore investment) for backward integration to supply nitration products.

Quantifiable outcome

• 150%+ capacity utilization rate at Phenol plant setting industry benchmark
• +7 more outcomes

Named customers3 records

Segments9 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature8 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Praxair India (A Linde Company)coreStrategic or Co-development Partner · 1 May 2026Deepak Chem Tech Limited (DCTL), a wholly owned subsidiary of Deepak Nitrite Limited, entered into a long-term agreement with Praxair India to build, own, and operate an on-site HyCO (hydrogen/carbon monoxide) plant at DCTL's upcoming polycarbonate manufacturing facility in Padariya, Dahej, Gujarat. The facility will manufacture and supply key feedstocks for polycarbonate production, with commissioning expected in 2028. This agreement establishes a reliable, long-term supply of essential raw materials supporting product quality, scalability, and supply chain resilience.
• Petronet LNGcoreStrategic or Co-development Partner · 1 February 2025Deepak Phenolics Limited signed a 15-year supply deal with Petronet LNG for offtake of raw materials including propylene and hydrogen. Also executed binding Term Sheet for supply of 250 KTPA of propylene and 11 KTPA of hydrogen from Petronet's proposed facility at Dahej, mitigating long-term project risks and ensuring steady supply for manufacturing operations.
• Deepak Oman Industries LLC (DOIL)coreStrategic or Co-development Partner · 1 January 2024Deepak Nitrite increased its stake in Deepak Oman Industries LLC (SFZ) to 51%, making it a subsidiary. This strategic investment enables benefit from low-cost inputs of raw materials and energy, serving global markets more effectively. DOIL manufactures key chemicals and benefits from low-cost inputs in Oman.
• Kashiba Children Hospital / Medical Care Centre TrustminorOthers · 1 January 2024Deepak Group through Deepak Phenolics Limited and Deepak Nitrite Limited supported construction of new hospital building and repairs/renovations of existing hospital buildings. The campus has been named 'Deepak Medical Centre' and will serve patients from Gujarat, Maharashtra, Madhya Pradesh and neighboring states.
• GSFC UniversityminorStrategic or Co-development Partner · 1 January 2024Deepak Group partnered with GSFC University to develop customized learning interventions including TATVA-Chemistry certification program for chemical engineers and multidisciplinary non-residential program for campus trainee batch 2023.
• Government of GujaratcoreStrategic or Co-development Partner · 1 January 2023Deepak Chem Tech Limited signed MoUs with Government of Gujarat totaling ₹14,000 Crores for manufacturing specialty chemicals, Polycarbonate Resins & Compounds, MMA/PMMA, and Aniline at Dahej. First MoU of ₹5,000 Crores signed in 2023, second MoU of ₹9,000 Crores signed in 2024, supporting Make in India initiative and domestic production of high-performance materials.

Scale indicators31 records

Recent moves13 records

Expansion highlights7 records

Direct peers

• Aarti Industries Limited: Indian specialty chemical intermediates manufacturer with overlapping product portfolios in nitro aromatics, intermediates, and specialty chemicals serving pharma, agro, dyes, and pigments. Directly comparable as a B2B Indian intermediates company with multi-plant operations and global exports.
• SRF Limited: Indian specialty chemicals player competing in fluorination, specialty intermediates, and packaging films. Comparable to Deepak on B2B enterprise customer model, chemical intermediates focus, and process-driven specialty platforms.
• Atul Limited: Indian diversified specialty chemicals company producing intermediates for dyes, agrochemicals, pharma, and performance chemicals. Similar to Deepak in serving multiple downstream end-markets with integrated intermediates production.
• Navin Fluorine International Limited: Indian specialty chemicals company specializing in fluorine chemistry with overlapping interest in fluorination products, refrigerants, and pharma intermediates. Highly comparable as Deepak builds its fluorination platform at Dahej.
• Gujarat Fluorochemicals Limited (GFL): Indian fluorochemicals manufacturer producing refrigerants, fluoropolymers, and fluorinated intermediates. Comparable to Deepak in fluorination technology platform and serving multinational agro/pharma customers.
• PI Industries Limited: Indian agrochemical specialty intermediates and CSM company. Comparable to Deepak's agrochemical intermediate franchise (xylidines, cumidines, oximes, fluorination products) and shared multinational agro customers.
• Vinati Organics Limited: Indian specialty intermediates producer focused on isobutyl benzene, ATBS, and other performance chemicals serving industrial customers. Comparable Indian specialty intermediates manufacturer with similar B2B direct sales model.
• Clean Science and Technology Limited: Indian specialty chemicals company with leading positions in performance chemicals and intermediates. Comparable as an Indian mid-cap specialty intermediates peer with process innovation focus.

Broad incumbents

• Tata Chemicals Limited: Larger Indian conglomerate-headquartered chemicals player producing soda ash, salt, and basic chemicals. Comparable only at the broad Indian chemical manufacturer level, not in Deepak's specialty intermediates niche.
• BASF SE: Global chemical giant producing phenol, acetone, intermediates, and specialty chemicals. Comparable as a broad incumbent in phenol/acetone and intermediates but vastly larger and more diversified than Deepak.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deepak Group