Deepak Fertilizers and Petrochemicals Limited (DFPCL) reported a 45.7 yoy growth in net sales to Rs 347.3 crore and a 34.3% growth in PAT to Rs 52.2 crore. The OPM margin grew an impressive 260 bps to 26.4%. Going forward we expect DFPCL to continue to maintain its growth on the back of improved capacity utilizations and the ramp up of production from its new TAN capacity expansion should significantly enhance profitability over the next couple of years.