DEEPAK  NITRITE LIMITED
                                  Registered Office : 9/10, Kunj Society, Alkapuri, Vadodara  390 007
     UNAUDITED  FINANCIAL  RESULTS  (PROVISIONAL)                          
FOR THE QUARTER AND NINE MONTHS ENDED 31st DECEMBER, 2005
Rs. in lacs
Sr.No Particulars Quarter Ended Nine Months Ended Year Ended
    31-12-05 31-12-04 31-12-05 31-12-04 31-03-2005
    (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
             
1 Net Sales 8755.43 8173.26 25333.11 21935.03 32126.68
2 Other Operating Income 134.30 219.74 331.56 377.94 556.73
3 Other Income 26.32 37.80 162.15 122.62 218.38
4 Total Expenditure 7846.94 7596.63 22887.48 20261.81 29502.51
  a. (Increase)/Decrease in Stock in Trade        (521.75)       (627.27)       (887.20) (517.96) 328.34
  b. Consumption of Raw Materials 5826.49 6118.32 16665.14 14315.13 19992.49
  c. Staff Cost 679.66 530.33 1857.91 1661.09 2497.89
  d. Other Expenditure 1862.54 1575.25 5251.63 4803.55 6683.79
5 Interest 268.36 241.93 728.43 660.42 912.18
6 Depreciation 269.17 291.91 834.44 888.00 999.68
7 Profit before Tax 531.58 300.33 1376.47 625.36 1487.42
8 Provision for taxation          
  a) Current Tax (including Fringe Benefit Tax) 178.41 23.55 370.89 49.03 103.40
  b) Deferred Tax        (103.21) 102.69 (17.92) 219.73 378.35
9 Profit after Tax 456.38 174.09 1023.50 356.60 1005.67
10 Add (Less) : Prior Year’s adjustment / - - -                         13.60 -
                      Extraordinary items          
11 Net Profit 456.38 174.09 1023.50 370.20 1005.67
12 Paid up Equity Share Capital  598.21 598.21 598.21 598.21 598.21
  (Face Value of Rs. 10/- each)          
13 Reserves excluding revaluation reserve         7105.95
14 Basic  EPS not annualised( Rs.) 7.63 2.91 17.11 6.19 16.81
15 Diluted  EPS not annualised( Rs.) 7.63 2.91 17.11 6.19 16.81
16 Aggregate of Non-Promoter Shareholding          
  Number of Shares 3163879 3163879 3163879 3163879 3163879
  Percentage of Shareholding 52.89 52.89 52.89 52.89 52.89
SEGMENT-WISE  REVENUE,  RESULTS  AND  CAPITAL EMPLOYED 
Rs. in lacs
Sr. No Particulars Quarter Ended Nine Months Ended Year Ended
    31-12-05 31-12-04 31-12-05 31-12-04 31-03-2005
    (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Segment Revenue :          
  a) Inorganic Intermediates 1419.48 1646.22 4696.62 5077.46 6878.65
  b) Organic Intermediates 5996.59 5398.87 17551.23 13129.97 19034.96
  c) Fine & Speciality Chemicals 1460.47 1266.67 3420.77 4202.60 6942.07
  d) Others 13.19 119.96 15.16 119.96 84.67
  Total 8889.73 8431.72 25683.78 22529.99 32940.35
  Less: Inter segment revenue - 38.72 19.11 217.02 256.94
  Net Sales/Income from operations 8889.73 8393.00 25664.67 22312.97 32683.41
             
2 Segment Results before tax & Interest:          
  a) Inorganic Intermediates 220.78 163.94 760.73 591.60 705.87
  b) Organic Intermediates 557.84 321.30 2004.43 901.64 1597.60
  c) Fine & Speciality Chemicals 523.25 109.66        450.55 439.57 1185.54
  Total 1301.87 594.89 3215.71 1932.81 3489.01
  Less: I)   Interest 268.36 241.93 728.44 660.42 912.18
           ii)  Other un-allocable expenditure  501.93 52.63 1110.80 633.43 1089.41
                Net of un-allocable Income          
  Total Profit Before Tax 531.58 300.33 1376.47 638.96 1487.42
             
3 Capital Employed :          
  a) Inorganic Intermediates 3261.84 3068.00 3261.84 3068.00 3069.60
  b) Organic Intermediates 13862.99 12266.77 13862.99 12266.77 12789.35
  c) Fine & Speciality Chemicals 5236.18 4792.36 5236.18 4792.36 5716.64
  d) Other unallocable 1505.92 1455.44 1505.92 1455.44 1216.52
  Total 23866.93 21582.57 23866.93 21582.57 22792.11
             
  The Segment Information has been suitably regrouped wherever necessary considering the nature of products.
 NOTES :
1) Previous periods figures have been regrouped/rearranged, whereever necessary.
   
2) The Auditors of the Company have conducted a Limited Review of the results for the quarter   
  and nine months ended 31st  December, 2005.  
   
3)  The Company had received two complaints from investors during the quarter which were resolved. 
   No complaint was pending at the beginning or end of the quarter.    
   
4) The above unaudited financial results were reviewed by the Audit Committee and  have been considered and 
  taken on record by the Board of Directors at its meeting held on 24th January, 2006  
   
5) Consequent to the relocation plan of its plant at Pune, the Board of Directors of the Company at its meeting   
  held on 16th December, 2005 has decided to sell its Factory Plot located at Sinhgad Road , Pune for a consideration  
   of Rs. 30 crores (Rupees Thirty crores). Execution of the same awaits necessary statutory clearances.   
   
6)  The Board of Directors at its meeting held on 16th December, 2005 has approved the issue of 29,91,031   
  Equity Shares of Rs. 10/- each for cash at a premium of Rs. 140/- per share, to the equity shareholders of the  
  Company on rights basis in the ratio of Two Equity Shares for every Four Equity Shares held on the Record Date   
  alongwith 14,95,516 Detachable Warrants in the ratio of 1 Detachable Warrant for every two such equity shares  
   to be allotted under the Rights issue. The Detachable Warrants carries an option to apply for      
  an Equity Share of Rs. 10/-  each at a premium of Rs. 240/- per share during warrant excercise period.     
  The total issue size including conversion of Warrants to Equity Shares, is Rs. 8225.34 Lacs.   
  The Company has submitted  Draft Letter of Offer to SEBI and Stock Exchanges on 23rd December, 2005.    
  The in-principle approval for the same has been received from Stock Exchanges, SEBI approval is awaited.  
   
   
  FOR DEEPAK NITRITE LIMITED  
   
MUMBAI,                       D.  C.  MEHTA  
24th January, 2006                MANAGING DIRECTOR