Deepak Nitrite Board of Directors to Hold Fundraiser on December 22

Deepak Nitrite announced on Tuesday that the company’s board of directors will meet on December 22, 2021 to consider raising funds.

In an exchange filing, Deepak Nitrite said that a meeting of the company’s board of directors is scheduled to be held on Wednesday, December 22, 2021 to consider raising funds through the issuance of shares or any other instruments or securities, including fully/partially convertible or through a composite issue of non-convertible debentures or any other qualifying security through qualified institutions, private placement and/or public issue of equity securities /borrow.

Deepak Nitrite is one of the fastest growing chemical intermediates with a diverse portfolio that caters to the dyestuffs & pigments, agrochemicals, pharmaceuticals, plastics, textiles, paper and chemicals segments. personal and household care and petro-derivative intermediates – phenolics, acetone and IPA in India and abroad. Its products are manufactured in six factories across five sites, all of which are accredited by Responsible Care.

The company recorded a 49.4% increase in its consolidated net profit to Rs 254.34 crore in Q2 FY22 from Rs 170.19 crore posted in Q2 FY21. Operating income increased by 70.3% of net sales to Rs 1,681.35 crore in Q2 FY22 from Q2 FY21.

Shares of Deepak Nitrite were trading up 1.06% at Rs 2,349.95 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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