Deepak Nitrite Limited (DNL) has crossed the Rs 100 crore turnover mark from its international business during 2003-2004. Exports accounted for Rs 110 crore out of the total turnover for the year of about Rs 280 crore for DNL in the last financial year. A large share of the exports are going to top chemical companies in Europe. US is the next big destination followed by Japan and Korea. The next milestone for the DNL would be to achieve 50 per cent of its turnover from exports.

International business is growing at a faster rate and is less volatile than the domestic business and customers are also more discerning, managing director Deepak Mehta said, “We are able to keep DNL off the volatility in the domestic markets and concentrate on bringing in greater value add to our products,” he said, “adding the company would also be looking at acquisitions and strategic relationships depending on the new emerging needs of its international customers.”

Apart from hike in R&D and capacity expansion, DNL adopted a new business model for growing its international business development of new products based on joint research programs and eventually becoming exclusive suppliers to large companies. These kinds of long term contracts are expected to account for 30 to 35 per cent of business.