India’s TOP 500 Companies 2020

INDIA’S TOP 500 COMPANIES 2020 128 Experts’ View Deepak Nitrite Limited SANJAY UPADHYAY Director – Finance & CFO Deepak Nitrite Ltd (DNL) today is one of India’s fastest-growing chemical intermediates companies with diversified businesses, how do you perceive the company’s success? According to you, what are the most significant milestones for DNL from when the first plant of DNL commissioned in 1972? We stand on the cusp of 50 glorious years of excellence and value creation. This has been a long and fulfilling journey where Deepak Nitrite Limited (DNL) has successfully demonstrated its capabilities and perseverance to evolve from a local manufacturer of Bulk Chemicals into a global provider of Chemical intermediates. Froma humble beginning in 1972 with its first plant set up at Nadesari with two products, today we have 6 manufacturing facilities producing over 30 products reaching out to over 1000 customers in 30 countries. Deepak Phenolics’ largest Phenol & Acetone plant and recent addition of IPA is another lapel to our success story. Our track record over this journey of 5 decades, gives us immense pride as we have built deep relationships with leading enterprises in India and overseas, established a manufacturing footprint of global scale and positively impacted the lives of employees, associates, partners and through our Foundation, served society at large. How do you perceive the growth of India’s chemicals sector in next 3-5 years? What impact would central banks’ recent rate cuts have on the overall chemical sector? The chemical industry in India has been actively gaining global market share in recent years and has been a beacon of hope. The Indian chemical industry is expected to double to US$ 300 billion by 2025, recording an annual growth rate of 15%-20%. Global rating agencies expect India’s economic growth to rebound sharply to 6.6%-6.7% in FY 2021-22. Leading players have demonstrated intent to scale up, diversify offerings and plough earnings back into the business by pursuing innovation and sophistication. The pace for the chemical industry’s adoption of technology continues to be on the rise. Looking towards an optimistic future, India’s chemical industry is set for sustained growth receiving impetus with capital investment and affirmative Government policies. How has the DNL leveraged its R & D capabilities to provide superior customer experience while adhering to the 3Ps of growth? What are the factors that give DNL an edge over its competitors? At DNL, innovativeness is one of the key growth drivers. This excellence is fuelled by our intellectually strong Research & Development wing - Deepak Research and Development Center (DRDC). DNL’s 50years legacyof soundchemistry coupled with close relationship with its customer due to quality, technology and dependability, in the face of adversity, has created a niche in the industry. Company’s approach towards nurturing people strength, adhering to responsible chemistry and environmental norms has brought it to today’s level. With over 35 patents and 70 scientists, DRDC has served the organization with sound foundation of R&D and today well poised to expand and set up a new facility on outskirts of Baroda. “ Deepak Nitrite has successfully demonstrated its capabilities and perseverance to evolve from a local manufacturer of Bulk Chemicals into a global provider of Chemical intermediates. ” Dun & Bradstreet