DEEPAK Nitrite Ltd has received the award for the
Export of Chemical Products for 1998-99, at the
59th annual general meeting of Indian Chemical Manufactures
Association recently in Mumbai.
Deepak Nitrite Ltd (DNL) is the flagship company
of the Rs 800 crore Deepak Group of companies. The
turnover, for the financial year ended March 31,
1999, was Rs 160 crore, while the gross profit was
Rs 31.5 crore.
The company is a leading manufacturer of organic,
inorganic, fine and speciality chemicals and had
its inception in 1972, with the manufacture of sodium
nitrite, which was then an import substitute product.
Today, it has multi-locational production facilities
and a diverse product portfolio. DNL's products
have found takers in the domestic as well as the
international market.
Deepak Mehta, Managing Director, Deepak Nitrite
Ltd, said, "It is a satisfying experience to
receive recognition from our peers and colleagues.
We are looking at exports as a major thrust for
two reasons. To grow faster the only alternative
is exports, which will help us take a larger share
of the world market. We are more focused on being
world class producers and international customers
are very choosy and do not accept any mediocre sources
of supply".
In five years, the company has made rapid strides
in export and the export turnover constitutes over
20 per cent of total sales. The company plans to
reach a level of 30 per cent in coming year. DNL
exports around 15 to 20 products. The major exports
are in the US, Europe, Japan and South Korea. Last
year DNL exported over 6000 tonnes of chemicals
and intermediates. At the same function, Deepak
Nitrite Ltd also received a certificate of merit
from ICMA for securing ISO 9002.
