Will this have an impact on Deepak nitrite?

The Ministry of Finance has repealed anti-dumping duties on imports of phenol. These are imports of phenol from the European Union, Singapore and the PR of Korea. Deepak Nitrite manufactures this particular product.

Analysts expect Rs 50-70 crore to hit the bottom line, although they also say imports from these particular geographies are not significant.

In addition, analysts also expect the company to offset losses with increased exports, as the company is currently producing phenol at higher capacities. This would mean a 7-10% impact on the bottom line. However, it is expected to be covered by the additional exports that the company could make of phenol.

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According to the IIFR, this deletion only concerns Korea, Singapore and the EU, but these countries do not have significant exports to the Indian subcontinent.

There is no such impact on the soil and the prices of various other products like diamino stilbene disulfonic acid (DASDA) and sodium nitrite have risen sharply. This is something that could offset the negative impact that would result from this repeal of anti-dumping duties.

Watch CNBC-TV18’s accompanying Sonal Bhutra video for more details.

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