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Deepak Fertilizers slips after ICRA downgrades long-term rating of its NCD issue

24 Jun 2016 Evaluate

Deepak Fertilizers and Petrochemicals Corporation is currently trading at Rs. 151.45, down by 8.70 points or 5.43% from its previous closing of Rs. 160.15 on the BSE.

The scrip opened at Rs. 153.00 and has touched a high and low of Rs. 156.35 and Rs. 151.45 respectively. So far 13,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 173.25 on 13-May-2016 and a 52 week low of Rs. 121.10 on 01-Sep-2015.

Last one week high and low of the scrip stood at Rs. 164.80 and Rs. 151.45 respectively. The current market cap of the company is Rs. 1,335.86 crore.

The promoters holding in the company stood at 51.07%, while Institutions and Non-Institutions held 17.89% and 31.04% respectively.

Ratings agency ICRA has downgraded the long-term rating of Deepak Fertilizers and Petrochemicals Corporation’s Rs 600 crore worth of non-convertible debentures (NCDs), Rs 575-crore (increased from Rs 500 crore) long-term fund-based limits and Rs 141.44-crore term loans from ‘AA’ to ‘AA-’.

The rating agency has reaffirmed the short-term rating assigned to the Rs 750-crore commercial paper programme and Rs 1,425-crore (reduced from Rs 1,500 crore) non-fund based limits of the company at ‘A1+’.

The rating agency has downgraded the company’s ratings on account of the deterioration in the financial profile, owing to the “continued regulatory overhang over gas supply issue and the recovery of unintended benefits from players manufacturing Nutrient “N” using domestic gas. Moreover the company’s working capital position has weakened over the last one year due to holding up of subsidy payments by the Department of Fertilisers’ pending recovery of unintended benefits, resulting in significant build-up of short-term debt.


Deepak Fert & Petro Share Price

1229.00 30.35 (2.53%)
17-Apr-2026 16:59 View Price Chart
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