Deepak Fertilizers and Petrochemicals Corporation has completed the process of demerging its core business fertilizer and technical ammonium nitrate into a wholly-owned subsidiary Smartchem Technologies.
As part of the scheme, the industrial chemicals, the home lifestyle and retail arm Ishanya will continue to operate under DFPCL. The restructuring aims to enhance management focus for future growth, improving operational efficiency providing impetus to charting growth plan. Sailesh Mehta, Chairman and Managing Director, Deepak Fertilisers, said the move is aimed at future growth and providing ample room to each of the two businesses which has achieved scale and geographical spread.
