DNL/1 38/BsE/661 /2021 12th February,2021

Department of Corporate Services BSE Limited Phiroje Jeejeebhoy Towers Datal Street MUMBAT - 400 001

Dear Sir,

Scrip Code: 506401

Re: Un-audited Financial Results 31't December,2O2O for the Quarter and Nine Months period ended

We wish to inform you that the Board of Directors of the Company at its meeting hetd today i.e. 12th February, 2021, has considered and approved the Standatone and Consotidated Un-audited Financial Results of the Company for the Quarter and Nine Months period ended 31't December, 2020.

Pursuant to Regulation 33 of the SEB| (Listing Obtigations and Disclosure Requirements) Regulations, 2015 ("Listing Regutations"), we are sending herewith Standatone and Consotidated Un-audited Financial Resutts for the Quarter and Nine Months period ended 31't December, 2020, duty signed by the Chairman and Managing Director of the Company.

Further, we also enclose herewith Limited Review Report issued by M/s Deloitte Haskins & Setts LLP, Chartered Accountants, Statutory Auditors of the Company as required under Regulation 33 of the Listing Regutations.

The Board Meeting commenced at 2:00 P.M. and concluded at 5:30 P.M.

Please take the same on your record.

Thanking you,

Yours faithfully, LIMITED

Encl.: os above

DEEPAK NITRITE LIMITED

CIN: 124110GJ1970P1C001735 Registered & Corporate Office: Aaditya-1, Chhani Road,Vadodara-390 024. Gujarat, India. Teli+9L2652765200/396 0200 | Fax: +91 265 ^2765344 Investor Relations Contact: investor@ godeepak.com www.godeepak.com

~ DEEPAK NITRITE LIMITED

Registered Office : Aaditya-1 , Chhani Road, Vadodara - 390 024, Gujarat Web Site: www.godeepak.com, Investors Relation Contact: [email protected] Corcorate Identification Number: L2411DGJ1970PLC001735,Tel.: +91-265-2765200, Fax: +91-265-2765344

STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE Q.UARTERAND NINE MONTHS ENDED 31ST DECEMBER, 2020

													, in Crores
			STANDALONE RESULTS						CONSOLIDATED RESULTI
Sr.	Particulars		Quarter Ended		Nine MOnths Ended		Year Ended		Quarter Ended		Nfne Months Ended		Year Ended
No.		31.12.2020 (Unaudited)	30.09.2020 (Unaudited I	31.12.2019 (Unaudited)	31.12.2020 (Unaud lted )	31.12.2019 (Unaudited)	31.03.2020 (Audited)	31 . 12.2020 (Unaudited)	30.09.2020 (Unaudited)	31.12.2019 (Unaudited)	31.12.2020 (Unaudited)	31.12.2019 (Unaudited)	31.03.2020 (Audited)
1	Income
	(a) Revenue from operations	487.77	445.?7	584.91	1,283 .44	1 .704.42	2,229.66	1,234.69	987.34	1,119.86	2,896.52	3, 174. 17	4,229.71
	(b) Othe r income	3. 15	2.71	1.87	10.72	8.00	7.58	4.88	3.95	14.74	15.58	34. 18	35.ZO
	Total Income	-490 .92	98 -4	586.78	1,294.16	1,712.-42	2,237.24	1,239.57	991.29	1,134.60	2,912.10	3,208.35	4,264.9 1
2	Expenses
	(a) Cost of materials consumed	210.73	181 .7-4	241 .56	540.67	690.17	884.68	628.05	530.61	631.77	1,477.13	1,768. 21	2,347.9 1
I	(b ) Changes in inventories of finished goods and Work-in-progress	5.55	(1.20)	(12.81)	(1.74)	(17.39)	3.30	48.28	(43.66)	17.35	19.94	Z.09	25.>9
	(c ) Employee benefits expense	42.1,6	46.23	45.94	139.01	130.89	173.40	66.90	60.15	56.49	188.86	16) .08	216.96
I	(d) Finance Costs	0A1	0.59	4,38	3.89	15.78	20.32	15.70	19.57	26.96	60.00	87.67	11 4.87
	(e) Depreciation and amortisation expense	17, 10	14.40	19.87	45.78	57.24	77.93	33.92	31.24	35.14	96.17	103.50	139.?J
	(f) Power & Fuel Expenses	35.34	33.(,2	37.89	93.27	112.59	145.B0	72.75	67.00	67.77	181.98	22 1.83	285.1 9
I	(g) Other expenses	-4 7,36	48,21	5B.86	131 .82	176 .82	225.78	83.67	97.54	88.23	236.24	256.4~	328.26
	Total expenses	359.1 6	323.59	395.69	952.70	1,166.10	1,531 .21	949 .27	762.45	923.71	2,260.32	2,602.80	3, 458.51
3	Profit Before Tax (1 - 2)	131.76	124.)9	191,09	341.46	546,32	706,03	290.30	228.84	210,89	651.78	605 ,55	806 0
4	Tax Expense
	(a) Current Tax	34.22	n.n	50.69	88.49	141.08	192.08	63.64	49.09	50.69	139.35	141.08	192.08
I	(b) Deferre d Tax	(0.39)	(1.01 )	(1 .48)	(0,65)	(22 .54)	(30.09)	10.10	9.56	3.49	26.73	25.74	3.29
	Tot.al Tax Expenses	13.83	32.31	49.21	87.84	118.S4	161.99	73.74	58.65	54. 18	166.08	166.82	195.:J.7
s	Net Profit for the period (3 -4) Other Comprehensive Income	97.93	92 .08	141 .88	253.62	427.78	544.04	216.56	170.19	156.71	485.70	438 .73	611 .0)
6	a. Items that will not be reclassified to profit and loss
	I. Remeasurements of the defined benefit plans	(1. 00)	(0.75)	(0.25)	(2 .00)	(1 .00)	(4.78)	(1 .00)	(0.75)	(0 .25 )	(2.00 )	(1.00)	(4.961
	Ii. Equity Instruments through Othe r Comprehensive	0.0)	(0 U1l	0.05	0.09	0.05	0.02	0.03	(0.01)	0.05	0.09	0.05	0.02
	Income (FYOCI)
I	m. Income tax related to items above	0. 26	0. 18	0.05	0.49	0.19	1.10	0.26	0.18	0.05	0.49	0. 19	1.14
	Other Comprehensive Income (net of tax)	(0 .71 )	(0. 58 )	(0.15)	(1 .42)	(0.76)	{3.66)	(0.71)	(0.58)	(0.15)	(1.42)	(0.76)	13,801
7	Total comprehensive fncome for the period (5+6)	97.21	91 .50	141.73	252.20	427,02	540.38	215.85	169.61	156.56	484.28	437.97	607.2.3
8	Patd•up Equity Share Capital (Face Value of ~ 2/ · each)	27.28	27.28	27.28	27.28	27.28	27.28	27.28	27.28	27.28	27.28	27.28	27.28
9	Other Equity	NA	NA	NA	NA	NA	1,464 05	NA	NA	NA	NA	NA	1,544.63
I	10,i Basic & Diluted Earnings per share (before exceptlonal	7 18	C. .75	10.40	18.59	31.36	39.89	15.88	12.48	11 .49	35.61	32. l7	44.80
	items) (of ~ 2/ · each) (not annualised ) : 10.ii Basic ft Dilute d Earnings pe r share (after exceptional iu,rm)	7 18	6. 75	10.40	18.59	31 36	39 89	15.88	12.48	11.49	)5.61	32.17	44.80
I	I (of ~ 2/· each) (not annualised) :						I

DEEPAK NITRITE LIMITED

Registered Office: Aaditya-I, Chhani Road, Vadodara - 390 024, Guiarat Web Site : www.godeepak.com, Investors Relation Contact : [email protected] Corporate Identification Number: L24110GJ1970PLC001735.Tel.: +91-265-2765200, Fax: +91-265-2765344

SEGMENT-WISE REVENUE. RESULTS. SEGMENT ASSETS AND SEGMENT LIABILITIES

Sr. No.		STANDALONE RESULTS							KIN Crores CONSOLIDATED RESULTS
	Partículars	Quarter Ended			Nine Months Ended Year Ended			Quarter Ended			Nine Months Ended		Year Ended
		31.12.2020 (Unaudited)	30.09.2020 (Unaudited)	31,12,2019 (Unaudited)	31.12.2020 (Unaudited)	31.12.2019 (Unaudited)	31.03.2020 (Audited)	31.12.2020 (Unaudited)	30,09,2020 (Unaudited)	31.12.2019 (Unaudited)	31.12.2020 (Unaudited)	31.12.2019 (Unaudited)	31.03.2020 (Audited)
	Segment Revenue (Revenue from operations):
	a) Basic Chemicals	196.24	175.50	252.64	524.63	714.65	940.32	196.24	172.21	252.65	514.96	714.65	940.32
	b) Fine & Speciality Chemicals	210.93	209.90	173,22	560.60	427.25	585.26	210.93	209.90	173.22	560.60	427.25	585.26
	c) Performance Products	90.17	67.02	176.21	217.74	613.73	767.93	90.17	67.02	176.09	217.52	613.58	767.12
	d) Phenolics			Time.	W.	$\sim$		746.92	545.36	535.06	1,622.97	1,469.90	2,000.86
	Total	497.34	452.42	602.07	1,302.97	1.755.63	2,293.51	1,244.26	994.49	1,137.02	2,916.05	3,225.38	4,293.56
	Less : Inter segment revenue	9.57	7.15	17.16	19.53	51.21	63.85	9.57	7.15	17.16	19.53	51.21	63.85
	Total Revenue from Operations	487.77	445.27	584.91	1.283.44	1.704.42	2,229.66	1.234.69	987.34	1,119.86	2,896.52	3,174.17	4,229.71
	Segment Results before Tax & Interest:
	a) Basic Chemicals	46.88	40.88	58.98	124.32	153.48	209,35	46.88	40.87	58.98	124.16	153.48	209.35
	b) Fine & Speciality Chemicals	90.99	100.57	57.48	253.24	117.59	167.88	90.99	101.18	58.73	254.02	124.50	175.24
	c) Performance Products	8.13	4.65	94.69	19.43	342.74	418.16	8.16	4.75	95.31	19.58	343.24	418.62
	d) Phenolics				SO	SOF		173.83	122.88	40.50	365.79	123,71	187.31
	Total	146.00	146,10	211.15	396.99	613.81	795.39	319.86	269.68	253,52	763.55	744.93	990.52
	Less: (i) Interest	0.42	0.59	4.38	3.89	15.78	20.32	15.70	19.57	26,98	60.00	87.69	115.14
	ii) Other un-allocable expenditure (Net of un-
	allocable income)	13.82	21.12	15.68	51.64	51.71	69.04	13.86	21.27	15.65	51.77	51.69	68.98
	Total Profit Before Tax	131.76	124.39	191.09	341.46	546.32	706.03	290.30	228.84	210.89	651.78	605.55	806.40
$\overline{\mathbf{3}}$	Segment Assets
	a) Basic Chemicals	409.60	424.93	480.80	409.60	480.80	453.36	409.60	424,93	480.80	409.60	480.80	453.36
	b) Fine & Speciality Chemicals	466.33	423.98	392.50	466.33	392,50	381.74	466.33	423.98	392.50	466.33	392.50	381.74
	c) Performance Products	421.12	396.45	459.93	421.12	459.93	476.74	421,21	396.48	459.82	421.21	459.82	476.50
	d) Phenolics							1,807.02	1,683.65	1,661.38	1,807.02	1,661.38	1,723.01
	e) Others un-allocable	775.40	728.41	729.14	775.40	729.14	734.68	214.87	167.93	168.67	214.87	168.67	174.00
	Total Segment Assets	2,072.45	1,973.77	2,062.37	2.072.45	2,062.37	2,046.52	3,319.03	3,096.97	3,163.17	3,319.03	3.163.17	3,208.61
	Segment Liabilities
	a) Basic Chemicals	85,78	79.55	100.73	85.78	100.73	115.24	85.78	79.55	100.73	85.78	100.73	115.24
	b) Fine & Speciality Chemicals	81.27	73.37	65.40	81.27	65.40	70.96	81.27	72.04	64.61	81.27	64.61	70.65
	c) Performance Products	59.11	42.44	69.54	59.11	69.54	57,41	58.24	41.65	68.67	58.24	68.67	56.55
	d) Phenolics			Little C				929.98	931.30	1,083.08	929.98	1,083.08	1,082.68
	e) Others un-allocable	102.76	132.09	374.72	102.76	374.72	311.58	102.76	132.09	369.42	102.76	369.42	311.58
	Total Segment Liabilities	328,92	327,45	610,39	328.92	610,39	555,19	1,258.03	1.256.63	1,686.51	1,258.03	1,686.51	1,636.70

NOTES

The above Unaudited financial results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at their meeting held on February 12, 2021. $\mathbf{1}$

$\overline{2}$ Deepak Clean Tech Limited ("DCTL"), a wholly owned subsidiary of the Company, has been incorporated on October 09, 2020.

$\overline{3}$ The Group has considered the possible effects that may result from the pandemic relating to COVID-19 in the preparation of these financial results including recoverability of trade receivables and inventories. In developin future uncertainties in the economic conditions due to COVID-19, the management has considered relevant internal and external sources of information, including economic forecasts as at the date of approval of these financi from that estimated as at the date of approval of these financial results due to the impact of the pandemic and the Group will continue to closely monitor the developments.

For DEEPAK NITRITE LIMITED

B.C. MEHTA Chairman & Managing Director DIN: 00028377

Vadodara, February 12, 2021

Deloitte Haskins & Sells LLP

Chartered Accountants 19th floor, Shapath-V S.G. Highway Ahmedabad-380 015 Gujarat, India

Tel: +91 79 6682 7300 Fax: +91 79 6682 7 400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF Deepak Nitrite Limited

We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Deepak Nitrite Limited ("the Company"), for the quarter and nine months ended 31st December, 2020 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Based on our review conducted as stated in paragraph 3 above , nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Deloitte Haskins & Sells LLP Chartered Accountants (Firm's Registration No. 117366W/W100018)

Kartikeya Raval (Partner) (Membership No. 106189) UDIN: 21106189AAAACH4424

Place: Ahmedabad Date: 12th February, 2021

Deloitte Haskins & Sells LLP

Chartered Accountants 19th floor, Shapath-V S.G. Highway Ahmedabad-380 01 5 Gujarat, India

Tel: +91 79 6682 7300 Fax: +91 79 6682 7 400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RES UL TS

TO THE BOARD OF DIRECTORS OF DEEPAK NITRITE LIMITED

We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Deepak Nitrite Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter and nine months ended 31st December 2020 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

The Statement includes the results of the following entities :
a. Deepak Nitrite Limited Parent Company
b. Deepak Phenolics Limited Subsidiary Company
c. Deepak Nitrite Corporation Inc., United States of America Subsidiary Company
d. Deepak Clean Tech Limited Subsidiary Company
Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure