Deepak Nitrite Limited — Interim / Quarterly Report 2026

May 15, 2026

RESPONSIBLE CARE
OUR CHOSENBERAT NO EXCHANGEBURS

DEEPAK NITRITE

DNL/140/NSE/1656/2026
15th May, 2026

Listing Department
National Stock Exchange of India Limited,
Exchange Plaza
Bandra Kurla Complex
Bandra (E)
MUMBAI - 400 051

Dear Sir,

Stock Symbol: DEEPAKNTR

Re: Outcome of Board Meeting - Audited Financial Results

Pursuant to the requirements of Regulations 30 and 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) this is to inform that the Board of Directors of the Company at their Meeting held today, i.e. 15th May, 2026 inter alia approved Audited Standalone and Consolidated Financial Results of the Company for the Financial Year ended 31st March, 2026.

In this regard, we enclose herewith Audited Standalone and Consolidated Financial Results of the Company for the year ended 31st March, 2026, along with the Auditors’ Report issued by M/s. Deloitte Haskins & Sells LLP, Chartered Accountants, Statutory Auditors of the Company.

We hereby declare that the Statutory Auditors have issued the Audit Report with unmodified opinion in respect of Annual Audited Standalone and Consolidated Financial Results for the Financial Year ended 31st March, 2026.

The Board Meeting of the Company commenced at 2:10 P.M. and concluded at 4:30 P.M.

Kindly take the same on your records.

Thanking you,

Yours faithfully
For DEEPAK NITRITE LIMITED

ARVIND BAJPAI
Company Secretary

Encl: as above

DEEPAK NITRITE LIMITED
CIN: L24110GJ1970PLC001735
Registered & Corporate Office:
2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara – 390 003, Gujarat, India.
Tel: +91 265 276 5200/276 5500
Investor Relations Contact: investor@godeepak.com
www.godeepak.com

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DEEPAK NITRITE LIMITED

Registered Office : 2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara - 390 003, Gujarat, India

Web Site : www.godeepak.com, Investors Relation Contact : investor@godeepak.com

Corporate Identification Number: L24110GJ1970PLC001735, Tel.: +91-265-2765200, Fax: +91-265-2765344

STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2026
₹ in Crores

Sr. No.	Particulars	Quarter Ended			Year Ended
		31.03.2026 (Unaudited) (Refer Note 6)	31.12.2025 (Unaudited)	31.03.2025 (Unaudited) (Refer Note 6)	31.03.2026 (Audited)	31.03.2025 (Audited)
1	Income
	(a) Revenue from operations	717.67	693.59	654.47	2,639.46	2,526.47
	(b) Other income (Refer Note 2)	8.40	5.20	18.96	120.86	149.19
	Total Income	726.07	698.79	673.43	2,760.32	2,675.66
2	Expenses
	(a) Cost of materials consumed	421.59	409.27	380.26	1,544.01	1,460.66
	(b) Purchases of stock-in-trade	9.00	5.66	0.17	34.71	0.17
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	19.99	45.28	(3.17)	79.55	(53.81)
	(d) Employee benefits expense	72.11	69.01	70.44	280.23	275.05
	(e) Finance costs	1.30	0.79	1.02	3.97	3.78
	(f) Depreciation and amortisation expense	26.30	26.94	25.35	104.75	99.87
	(g) Power & fuel expenses	55.72	51.77	55.51	219.27	229.37
	(h) Other expenses	66.63	67.91	73.51	258.22	323.03
	Total expenses	672.64	676.63	603.09	2,524.71	2,338.12
3	Profit Before Exceptional Items and Tax (1 - 2)	53.43	22.16	70.34	235.61	337.54
4	Exceptional Items (Refer Note 3)	-	10.51	-	10.51	-
5	Profit before Tax (3 - 4)	53.43	11.65	70.34	225.10	337.54
6	Tax Expense
	(a) Current Tax	8.20	3.06	18.90	21.92	62.38
	(b) Deferred Tax	6.43	0.45	(2.43)	14.30	(1.27)
	Total Tax Expenses	14.63	3.51	16.47	36.22	61.11
7	Net Profit for the period / year (5 - 6)	38.80	8.14	53.87	188.88	276.43
8	Other Comprehensive Income
	a. Items that will not be reclassified to profit and loss
	i. Remeasurements of the defined benefit plans	1.34	2.56	(1.40)	2.64	(3.25)
	ii. Equity Instruments through Other Comprehensive Income (FVOCI)	0.34	0.02	0.26	0.46	0.30
	iii. Income tax related to items above	(0.46)	(0.69)	0.27	(0.84)	0.75
	Other Comprehensive Income (net of tax)	1.22	1.89	(0.87)	2.26	(2.20)
	Total comprehensive income for the period / year (7 + 8)	40.02	10.03	53.00	191.14	274.23
9	Paid-up Equity Share Capital (Face Value of ₹ 2/- each)	27.28	27.28	27.28	27.28	27.28
10	Other Equity	NA	NA	NA	3,188.05	3,099.20
11	Basic & Diluted Earning per share (of ₹ 2/- each) (not annualised) (in ₹):	2.84	0.60	3.95	13.85	20.27

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DEEPAK NITRITE LIMITED

Registered Office: 2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara - 390 003, Gujarat, India
Web Site: www.godeepak.com, Investors Relation Contact: investor@godeepak.com
Corporate Identification Number: L24110GJ1970PLC001735, Tel.: +91-265-2765200, Fax: +91-265-2765344

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2026
₹ In Crores

Sr. No.	Particulars	Quarter Ended			Year Ended
		31.03.2026 (Unaudited) (Refer Note 6)	31.12.2025 (Unaudited)	31.03.2025 (Unaudited) (Refer Note 6)	31.03.2026 (Audited)	31.03.2025 (Audited)
1	Income
	(a) Revenue from operations	2,120.33	1,974.97	2,179.69	7,887.07	8,281.93
	(b) Other income	6.86	8.50	22.79	59.87	83.86
2	Total Income	2,127.19	1,983.47	2,202.48	7,946.94	8,365.79
	Expenses
	(a) Cost of materials consumed	1,377.81	1,371.75	1,479.23	5,324.47	5,681.16
	(b) Purchases of stock-in-trade	59.14	74.91	18.48	273.69	131.63
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(57.31)	(21.46)	14.65	(55.25)	(24.90)
	(d) Employee benefits expense	110.91	106.60	101.59	423.18	392.15
	(e) Finance costs	18.91	11.04	9.34	46.02	27.50
	(f) Depreciation and amortisation expense	62.59	57.55	51.25	224.64	195.37
	(g) Power & fuel expenses	120.39	106.88	114.45	447.17	463.52
	(h) Other expenses	133.40	125.39	134.78	493.09	546.61
	Total expenses	1,825.84	1,832.66	1,923.77	7,177.01	7,413.04
3	Profit Before Exceptional Items and Tax (1 - 2)	301.35	150.81	278.71	769.93	952.75
4	Exceptional Items (Refer Note 3)	-	12.84	-	12.84	-
5	Profit before Tax (3 - 4)	301.35	137.97	278.71	757.09	952.75
6	Tax Expense
	(a) Current Tax	65.51	41.49	45.99	190.71	228.33
	(b) Deferred Tax	16.01	(3.34)	30.22	15.72	27.05
7	Total Tax Expenses	81.52	38.15	76.21	206.43	255.38
	Net Profit for the period / year (5 - 6)	219.83	99.82	202.50	550.66	697.37
	Net Profit attributable to:
8	Owners of the Company	219.74	99.79	202.41	550.53	697.24
	Non-controlling interests	0.09	0.03	0.09	0.13	0.13
	Other Comprehensive Income
	a. Items that will not be reclassified to profit and loss
	i. Remeasurements of the defined benefit plans	5.51	2.85	(1.76)	3.66	(3.61)
	ii. Equity Instruments through Other Comprehensive Income (FVOCI)	1.20	0.03	0.26	1.24	0.30
	iii. Income tax related to items above	(1.64)	(0.74)	0.38	(1.16)	0.86
	b. Items that will be reclassified to profit and loss
	i. Exchange Differences on translation of foreign operations	(7.11)	(0.74)	(0.48)	(7.49)	(0.86)
	ii. Income tax related to items above
9	Other Comprehensive Income (net of tax)	(2.04)	1.40	(1.60)	(3.75)	(3.31)
	Other Comprehensive Income (net of tax) attributable to:
	Owners of the Company	1.44	1.76	(1.37)	(0.08)	(2.89)
	Non-controlling interests	(3.48)	(0.36)	(0.23)	(3.67)	(0.42)
	Total comprehensive income for the period / year (7 + 8)	217.79	101.22	200.90	546.91	694.06
	Total comprehensive income for the period / year attributable to:
	Owners of the Company	221.18	101.55	201.05	550.45	694.35
	Non-controlling interests	(3.39)	(0.33)	(0.15)	(3.54)	(0.29)
	Paid-up Equity Share Capital (Face Value of ₹ 2/- each)	27.28	27.28	27.28	27.28	27.28
11	Other Equity	NA	NA	NA	5,809.55	5,361.39
12	Basic & Diluted Earning per share (of ₹ 2/- each) (not annualised) (in ₹):	16.11	7.32	14.84	40.36	51.12

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DEEPAK NITRITE LIMITED

Registered Office: 2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara - 390 003, Gujarat, India

Web Site: www.godeepak.com, Investors Relation Contact: investor@godeepak.com

Corporate Identification Number: L24110GJ1970PLC001735, Tel.: +91-265-2765200, Fax: +91-265-2765344

CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS, SEGMENT ASSETS AND SEGMENT LIABILITIES
₹ In Crores

Sr. No.	Particulars	Quarter Ended			Year Ended
		31.03.2026 (Unaudited) (Refer Note 6)	31.12.2025 (Unaudited)	31.03.2025 (Unaudited) (Refer Note 6)	31.03.2026 (Audited)	31.03.2025 (Audited)
1	Segment Revenue (Revenue from operations):
	a) Advanced Intermediates	707.70	652.45	653.94	2,553.32	2,527.31
	b) Phenolics	1,429.47	1,333.79	1,532.27	5,400.68	5,805.10
	Sub-Total	2,137.17	1,986.24	2,186.21	7,954.00	8,332.41
	Less: Inter Segment Revenue	16.84	11.27	6.52	66.93	50.48
	Total Revenue from Operations	2,120.33	1,974.97	2,179.69	7,887.07	8,281.93
2	Segment Results before Tax & Interest:
	a) Advanced Intermediates	33.57	14.94	44.88	106.95	175.70
	b) Phenolics	286.58	145.32	239.33	694.58	782.96
	Total	320.15	160.26	284.21	801.53	958.66
	Less: i) Interest	18.91	11.04	9.34	46.02	27.50
	ii) Other un-allocable Income (Net of un-allocable Expenditure)	(0.11)	(1.59)	(3.84)	(14.42)	(21.59)
	iii) Exceptional Items (Refer Note 3)	-	12.84	-	12.84	-
	Total Profit Before Tax	301.35	137.97	278.71	757.09	952.75
3	Segment Assets
	a) Advanced Intermediates	3,467.62	3,155.17	2,512.32	3,467.62	2,512.32
	b) Phenolics	2,674.36	2,523.37	2,642.14	2,674.36	2,642.14
	c) Others un-allocable	2,538.70	2,310.70	2,563.21	2,538.70	2,563.21
	Total Segment Assets	8,680.68	7,989.24	7,717.67	8,680.68	7,717.67
4	Segment Liabilities
	a) Advanced Intermediates	1,252.41	970.64	583.72	1,252.41	583.72
	b) Phenolics	765.58	551.20	595.15	765.58	595.15
	c) Others un-allocable	793.41	816.14	1,114.14	793.41	1,114.14
	Total Segment Liabilities	2,811.40	2,337.98	2,293.01	2,811.40	2,293.01

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DEEPAK NITRITE LIMITED

Registered Office: 2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara - 390 003, Gujarat, India

Web Site: www.godeepak.com, Investors Relation Contact: investor@godeepak.com

Corporate Identification Number: L24110GJ1970PLC001735, Tel.: +91-265-2765200, Fax: +91-265-2765344

STANDALONE AND CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
In Crores

	Particulars	Standalone		Consolidated
		31.03.2026 (Audited)	31.03.2025 (Audited)	31.03.2026 (Audited)	31.03.2025 (Audited)
A)	ASSETS
I	Non-current assets
	Property, Plant and Equipment	1,038.97	895.41	3,209.93	2,400.20
	Capital Work-in-Progress	65.78	170.42	1,828.19	1,649.05
	Goodwill	-	-	2.66	2.66
	Intangible Assets	2.02	2.55	56.95	54.37
	Financial Assets:
	Investments	1,410.17	1,283.86	18.15	2.98
	Loans	1.94	1.35	2.70	1.96
	Other Financial Assets	8.68	7.48	21.55	15.52
	Non-current Tax Assets (net)	0.56	0.13	1.96	0.40
	Deferred Tax Assets	-	-	27.33	11.65
	Other Non-Current Assets	3.86	10.63	441.88	281.77
	Total Non-Current Assets	2,531.98	2,371.83	5,611.30	4,420.56
II	Current assets
	Inventories	421.03	452.34	862.30	926.40
	Financial Assets:
	Investments	155.46	88.59	195.13	507.91
	Trade Receivables	594.48	612.93	1,505.56	1,273.81
	Cash and Cash Equivalents	5.82	6.09	243.14	179.41
	Bank balances other than Cash and Cash Equivalents above	1.91	1.97	25.87	227.15
	Loans	69.18	10.24	1.23	1.74
	Other Financial Assets	5.03	10.44	66.65	18.56
	Current Tax Assets (net)	0.12	-	0.12	-
	Other Current Assets	21.73	63.04	169.38	162.13
	Total Current Assets	1,274.76	1,245.64	3,069.38	3,297.11
	TOTAL ASSETS	3,806.74	3,617.47	8,680.68	7,717.67
B)	EQUITY AND LIABILITIES
I	EQUITY
	Equity Share Capital	27.28	27.28	27.28	27.28
	Other Equity	3,188.05	3,099.20	5,809.55	5,361.39
	Equity attributable to owners of the Company	3,215.33	3,126.48	5,836.83	5,388.67
	Non-controlling interests	-	-	32.45	35.99
	Total Equity	3,215.33	3,126.48	5,869.28	5,424.66
II	LIABILITIES
1	Non-current liabilities
	Financial Liabilities:
	Borrowings	-	-	1,134.83	1,025.71
	Lease Liabilities	45.26	29.37	100.92	88.60
	Provisions	34.25	32.23	50.18	43.16
	Deferred Tax Liabilities (Net)	66.34	50.30	246.73	212.78
	Total Non-Current Liabilities	145.85	111.90	1,532.66	1,370.25
2	Current liabilities
	Financial Liabilities:
	Borrowings	12.97	18.87	392.99	144.82
	Lease Liabilities	1.78	1.49	8.98	7.88
	Trade Payables
	Total outstanding dues of
	a) micro enterprises and small enterprises	32.00	49.51	60.45	64.92
	b) creditors other than micro enterprises and small enterprises	314.06	246.42	473.66	456.85
	Other Financial Liabilities	28.22	33.43	239.01	184.64
	Other Current Liabilities	35.82	10.71	64.18	32.20
	Provisions	20.71	16.68	24.89	18.88
	Current Tax Liabilities (Net)	-	1.98	14.58	12.57
	Total Current Liabilities	445.56	379.09	1,278.74	922.76
	Total Liabilities	591.41	490.99	2,811.40	2,293.01
	TOTAL EQUITY AND LIABILITIES	3,806.74	3,617.47	8,680.68	7,717.67

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DEEPAK NITRITE LIMITED

Registered Office: 2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara - 390 003, Gujarat, India

Web Site: www.godeepak.com, Investors Relation Contact: investor@godeepak.com

Corporate Identification Number: L24110GJ1970PLC001735, Tel.: +91-265-2765200, Fax: +91-265-2765344

STANDALONE AND CONSOLIDATED CASH FLOW STATEMENT

Particulars	Standalone	Consolidated
Year ended	Year ended
31.03.2026
(Audited)	31.03.2025
(Audited)	31.03.2026
(Audited)	31.03.2025
(Audited)
(A)	CASH FLOW FROM OPERATING ACTIVITIES
Profit Before Tax	225.10	337.54
Adjustments for:
1. Depreciation and Amortisation Expense	104.75	99.87
2. Loss/(Gain) on Sale of Property, Plant and Equipment	0.29	(13.25)
3. Gain on disposal/modification of RTU assets	-	-
4. Allowance/(Reversal) for credit losses	(2.18)	4.74
5. Provision/(Reversal) for Inventory Obsolescence	(1.16)	1.47
6. (Gain) on Redemption of Current Investment including gain on fair valuation	(4.63)	(21.31)
7. Finance Costs	3.97	3.78
8. Interest Income	(2.55)	(8.00)
9. Dividend Income	(91.00)	(98.00)
10. Bad Debts (net of recovery)	0.01	-
11. Unrealised Foreign Exchange Loss/(Gain) (net)	(2.70)	0.72
12. Expenditure for Property, Plant and Equipment	-	-
Operating Profit before change in Operating assets and liabilities
Movements in working capital :	229.90	307.56
1. (Increase)/Decrease in Inventories	32.46	(73.24)
2. (Increase)/Decrease in Trade Receivables	27.98	(4.58)
3. (Increase)/Decrease in Other Assets	48.03	30.46
4. Increase/(Decrease) in Trade Payables	46.29	57.09
5. Increase/(Decrease) in Other liabilities	32.34	0.44
Cash generated from operations	417.00	317.73
Less: Income tax paid	(23.55)	(63.65)
Net cash inflow from operating activities	393.45	254.08
(B)	CASH FLOW FROM INVESTING ACTIVITIES
1. Purchase of Property, Plant and Equipment, including Capital Work-in-Progress, Capital Advances & Payable for Capital Expenditure	(126.99)	(209.95)
2. Purchase of Intangible assets	(0.18)	(0.65)
3. Proceeds from Sale of Property, Plant and Equipment	1.03	17.05
4. Investment in Subsidiaries	(120.50)	(428.65)
5. Investment in Entities other than Subsidiaries	(5.34)	-
6. Loan to Subsidiaries	(68.40)	(13.90)
7. Repayment of Loan by Subsidiaries	8.90	174.98
8. Payment for acquisition of subsidiaries	-	-
9. Net Proceeds/(Purchase) from Redemption of Current Investments	(62.24)	22.82
10. Deposit with Bank (net)	-	-
11. Interest received	2.60	7.77
12. Dividend received	91.00	98.00
13. Income Tax Paid for Property, Plant and Equipment	-	-
Net cash (outflow) from investing activities	(280.12)	(332.53)
(C)	CASH FLOW FROM FINANCING ACTIVITIES
1. Proceeds from issue of Equity Shares by subsidiary	-	-
2. Proceeds from Long-Term Borrowings	-	-
3. Net Proceeds/(Repayment) of Short-Term Borrowings	(5.90)	18.87
4. Interest paid	(0.47)	(0.71)
5. Dividend paid on Equity Shares	(102.29)	(102.29)
6. Margin Money (Deposit) & DSRA Deposit redeemed	(0.01)	(0.01)
7. Principal repayment of Lease Liability	(1.42)	(1.16)
8. Interest paid on Lease	(3.50)	(3.07)
Net cash (outflow) / inflow from financing activities	(113.59)	(88.37)

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DEEPAK NITRITE LIMITED

Registered Office: 2nd Floor, Fermenter House, Alembic City, Alembic Avenue Road, Vadodara - 390 003, Gujarat, India
Web Site: www.godeepak.com, Investors Relation Contact: investor@godeepak.com
Corporate Identification Number: L24110GJ1970PLC001735, Tel.: +91-265-2765200, Fax: +91-265-2765344

Particulars	Standalone		Consolidated
		Year ended		Year ended
		31.03.2026
(Audited)	31.03.2025
(Audited)	31.03.2026
(Audited)	31.03.2025
(Audited)
	Net increase/(decrease) in cash and cash equivalents (A+B+C)	(0.26)	(166.82)	63.65	(60.47)
	Cash and cash equivalents at the beginning of the financial year	6.09	172.91	179.41	237.97
	Cash and Cash Equivalents on acquisition of subsidiaries	-	-	-	1.91
	Effect of exchange differences on translation of foreign currency
Cash and Cash Equivalents			0.08	-
	Cash and cash equivalents at the end of the financial year	5.82	6.09	243.14	179.41
	Reconciliation of Cash and Cash equivalents
Balances with Banks:
	In Current Accounts	5.74	5.88	33.76	55.07
	Deposit with banks with maturity less than 3 months	-	-	208.79	123.90
	Cash on hand	0.08	0.21	0.59	0.44
	Total Cash and Cash Equivalents	5.82	6.09	243.14	179.41

NOTES:

1. The Board of Directors have recommended, subject to the approval of shareholders, dividend of ₹ 7.5 (Rupees Seven and Fifty Paise only) per equity share of face value of ₹ 2/- (Rupees Two only) each for the year ended March 31, 2026 on 13,63,93,041 equity shares amounting to ₹ 102.29 Crores.

2. In the standalone results, Other Income Includes:
   (i) For the year ended March 31, 2026, Dividend income of ₹91.00 Crores (₹98 Crores in year ended March 31, 2025) received from Deepak Phenolics Limited, a wholly owned subsidiary of the Company.
   (ii) For the year ended March 31, 2025, profit of ₹13.04 Crores on assignment of leasehold rights in respect of parcel of land and sale of building shed located at Dahej to Deepak Phenolics Limited, a wholly owned Subsidiary of the Company.

3. The Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes' on November 21,2025. Accordingly, the Company and Group has assessed the impact of these changes and, based on certain estimates and an actuarial valuation, the Company and Group has made a provision of ₹10.51 Crores and ₹12.84 Crores respectively as an "Exceptional item" in the financial results for the quarter ended on December 31, 2025 as well as year ended March 31, 2026.

4. Revenue from operations in consolidated financial results includes government incentive income recognized in one of the subsidiary Company as under:
   ₹ In Crores

Particulars	Quarter Ended			Year Ended
	31.03.2026
(Unaudited)
(Refer Note 6)	31.12.2025
(Unaudited)	31.03.2025
(Unaudited)
(Refer Note 6)	31.03.2026
(Audited)	31.03.2025
(Audited)
Government Incentive Income	68.41	-	161.18	102.10	161.18

1. In accordance with Ind AS 108 -Operating Segments, the Company has disclosed the segment information at consolidated level and accordingly no separate disclosure on segment information is given at standalone financial results level.

2. The figures of the last quarter are the balancing figure between audited figures in respect of the full financial year ended March 31, 2026 and March 31, 2025 and the published year to date figures up to the end of third quarter ended December 31, 2025 and December 31, 2024 respectively.

3. The above audited financial results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at their meeting held on May 15, 2026.

Vadodara, May 15, 2026

For DEEPAK NITRITE LIMITED.

D. C. MEHTA
Chairman & Managing Director
DIN No: 00028377

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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 7400

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF DEEPAK NITRITE LIMITED

Opinion and Conclusion

We have (a) audited the Standalone Financial Results for the year ended March 31, 2026 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2026 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Standalone Financial Results for the Quarter and Year Ended March 31, 2026” of DEEPAK NITRITE LIMITED (the “Company”), (the “Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “LODR Regulations”).

(a) Opinion on Annual Standalone Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the Standalone Financial Results for the year ended March 31, 2026:

i. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for the year then ended.

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2026

With respect to the Standalone Financial Results for the quarter ended March 31, 2026, based on our review conducted as stated in paragraph (b) of Auditor’s Responsibilities section below, nothing has come to our attention that causes us to believe that the Standalone Financial Results for the quarter ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 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.

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Regd. Office of the International Center, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India
Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737

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Deloitte Haskins & Sells LLP

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2026

We conducted our audit in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Companies Act, 2013 (the "Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the "ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's and Board of Directors' Responsibilities for the Statement

This Statement which includes the Standalone Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2026 has been compiled from the related audited standalone financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2026 that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Results, the Board of Directors is responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2026

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2026 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.

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Deloitte Haskins & Sells LLP

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

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Deloitte Haskins & Sells LLP

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2026

We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2026 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 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 SAs specified under section 143(10) of the Act 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.

Other Matters

• The Statement includes the results for the Quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS LLP
Chartered Accountants.
(Firm's Registration No. 117366W/W-100018)

H. S. Sutaria

Hardik Sutaria
Partner
(Membership No 116642)
(UDIN: 26116642MUXQYV3144)

Place: Vadodara
Date: May 15, 2026

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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 7400

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF DEEPAK NITRITE LIMITED

Opinion and Conclusion

We have (a) audited the Consolidated Financial Results for the year ended March 31, 2026 and (b) reviewed the Consolidated Financial Results for the quarter ended March 31, 2026 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Consolidated Financial Results for the Quarter and Year Ended March 31, 2026” of DEEPAK NITRITE LIMITED (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as the “Group”), (the “Statement”), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “LODR Regulations”).

(a) Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financial statements of subsidiaries referred to in Other Matters section below, the Consolidated Financial Results for the year ended March 31, 2026:

(i) includes the financial results of the following entities:

• Deepak Nitrite Limited- the Holding Company
• Deepak Phenolics Limited- wholly owned subsidiary
• Deepak Chem Tech Limited- wholly owned subsidiary
• Deepak Nitrite Corporation Inc, United States of America- wholly owned subsidiary
• Deepak PMC Limited- wholly owned subsidiary
• Deepak Oman Industries LLC (SFZ)- Subsidiary Company
• Deepak Advanced Materials Limited (formerly known as OXOC Chemicals Limited)- wholly owned subsidiary
• Narmada Thermal Power Private Limited (formerly known as Narmada Thermal Power Limited)- Step down subsidiary

(ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

(iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit and consolidated other comprehensive loss and other financial information of the Group for the year ended March 31, 2026.

A

Regd. Office: One International Center, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP identification No: AAB-8737

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Deloitte Haskins & Sells LLP

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2026

With respect to the Consolidated Financial Results for the quarter ended March 31, 2026, based on our review conducted and procedures performed as stated in paragraph (b) of Auditor’s Responsibilities section below and based on the consideration of the review reports of the other auditors referred to in Other Matters section below, nothing has come to our attention that causes us to believe that the Consolidated Financial Results for the quarter ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 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.

Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2026

We conducted our audit in accordance with the Standards on Auditing (“SA”s) specified under Section 143(10) of the Companies Act, 2013 (the “Act”). Our responsibilities under those Standards are further described in paragraph (a) of Auditor’s Responsibilities section below. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the “ICAI”) together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Management’s and Board of Directors’ Responsibilities for the Statement

This Statement, which includes the Consolidated Financial Results is the responsibility of the Holding Company’s Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2026, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2026 that give a true and fair view of the consolidated net profit and consolidated other comprehensive loss and other financial information of the Group in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations.

The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Holding Company, as aforesaid.

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Deloitte Haskins & Sells LLP

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2026

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2026 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

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Deloitte Haskins & Sells LLP

• Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the LODR Regulations to the extent applicable.
• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the entities within the Group to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Annual Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Consolidated Financial Results.

We communicate with those charged with governance of the Holding Company and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2026

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2026 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 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 SAs specified under section 143(10) of the Act 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.

The Statement includes the results of the entities as listed under paragraph (a)(i) of Opinion and Conclusion section above.

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.

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Deloitte Haskins & Sells LLP

Other Matters

• The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report is not modified in respect of this matter.

• We did not audit the financial statements of 5 subsidiaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 295.54 Crore as at March 31, 2026 and total revenues of Rs. 12.74 Crore and Rs. 49.59 Crore for the quarter and year ended March 31, 2026 respectively, total net loss after tax of Rs. 3.77 Crore and Rs. 8.25 Crore for the quarter and year ended March 31, 2026 respectively and other comprehensive income of Rs. Nil and Rs. Nil for the quarter and year ended March 31, 2026 respectively and net cash flows of Rs. 11.29 Crore for the year ended March 31, 2026, as considered in the Statement. These financial statements have been audited, by other auditors whose reports have been furnished to us by the Management and our opinion and conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated under Auditor's Responsibilities section above.

Certain of these subsidiaries are located outside India whose financial statements have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial statements of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments, if any, made by the Holding Company's management. Our report on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and reviewed by us.

Our report on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
(Firm's Registration No. 117366W/W-100018)

H. S. Sataria
Hardik Sutaria
Partner
(Membership No. 116642)
(UDIN: 26116642ERFWHL2466)

Place: Vadodara
Date: May 15, 2026

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