The genesis of Deepak Fertilisers And Petrochemicals Corporation could be said to be in the year 1970 when Mr. C. K. Mehta set up Deepak Nitrite Ltd, combining his skills in trading and manufacturing. DNL grew by leaps and bounds, surpassing expectations of all investors and also won many prestigious awards like the Sir P.C. Ray award, for being the best Chemical Industrial unit in India. In 1983, Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL) started commercial production of ammonia (in technical collaboration with Fish International Engineers (USA) using natural gas as feedstock. This marked the fulfillment of a need for lateral integration into the world of basic building block chemicals, premium fertilisers and petrochemicals. At the time, this was India's only merchant ammonia manufacturer. The International Finance Corporation initially supported this venture of Deepak group in the form of equity participation in DFPCL.

The company undertook major expansion and diversification in 1989 to achieve forward integration of ammonia and diversification in Methanol. In July 1992, DFPCL commenced commercial production of Low Density Ammonium Nitrate (LDAN), Nitro Phosphate (NP), Dilute Nitric Acid (DNA), and Concentrated Nitric Acid (CNA). This has resulted in a multi-product portfolio for DFPCL consisting of chemicals, petrochemicals, fertilisers and other agri-inputs. To ensure an uninterrupted supply of natural gas to its plant, DFPCL laid its own 43 km gas pipeline from the coastal fall point of Bombay High to its plants in Tajola, thus becoming one of the first companies in India to have its own gas pipeline. The Company has now diversified into specialty retailing with Ishanya, India's largest Design Centre and Specialty Mall for interiors and exteriors. This 5,50,000 sq.ft. project is located near the hear of Pune and is home to 52 product and service categories in interiors and exteriors.

Their products are Methanol, Nitric Acid, Liquid Carbon Dioxide, Ammoniu Nitrate, Isopropyl Alcohol.