Deepak Nitrite (DN IN) – Q3FY26 Result Update – Margins remain under pressure – Hold
Published on 14 Feb 2026
DN continues to undertake growth initiatives, primarily focused on the Phenolics segment. While domestic demand for phenol is expected to remain strong, the threat of low-priced imports is likely to keep margins under pressure. The stock is currently trading at ~28x FY28 EPS. We value the stock at 30x Dec’27E EPS and maintain ‘HOLD’ rating with TP of Rs1,673.
