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Dhanuka Agritech Results: Latest Quarterly Results & Analysis

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Dhanuka Agritech Ltd. 31 Oct 2025 13:22 PM

Q2FY26 Quarterly Result Announced for Dhanuka Agritech Ltd.

Agrochemicals company Dhanuka Agritech announced Q2FY26 results

  • Revenues from Operations stood at Rs 598.25 crore in Q2FY26 vs Rs 654.28 crore in Q2FY25.
  • EBITDA stood at Rs 136.73 crore in Q2FY26 vs Rs 159.58 crore in Q2FY25.
  • Profit after tax was at Rs 93.97 crore in Q2FY26 vs Rs 117.52 crore in Q2FY25.

Mahendra Kumar, Chairman, Dhanuka, said: "Dhanuka Agritech is a leading Indian agrochemical company. Dhanuka is working with the vision of Transforming India through Agriculture. We have a pan-India presence in all major states to reach out to more than 10 million farmers with our products and services. Dhanuka’s key focus has been on introduction of novel chemistries and extensive product development distinguishing us from the rest of the industry.

With four manufacturing units and 41 warehouses across India, we cater to around 6,500 distributors and around 80,000 retailers. Dhanuka has a strong Sales and Marketing team to promote and develop new products. Dhanuka with 2 R&D Laboratories has world-class NABL accredited laboratories as well as an excellent team for new product registration and development. Dhanuka has international collaboration with ten leading global agrochemical companies from Japan, US and Europe, which helps us to introduce the latest technology in India.

During this Quarter, Abnormal and uneven rainfall distribution led to significant crop losses in various states. Some regions experienced excess rainfall, while others faced deficient showers, creating uneven soil moisture conditions. Crops in waterlogged areas suffered significant damage, reducing the application of agrochemicals. These conditions delayed harvesting and the application of crop protection product, limited pest infestation due to heavy rain washing off the pest, resulting in lower demand for agrochemical products from farmers.

We are happy to inform you that we have received the Registration Certificate of Ipflufenoquin for indigenous manufacture u/s 9(3) duly approved by the Secretary, CIB&RC for use in Transplanted Paddy for the control of Leaf blast & Neck blast. This product is introduced in collaboration with Nisso Chemicals, Japan.

Further, I would like to share that we have started trial production of second product from our Dahej Plant. We Expect this product to help us increase the revenue from Dahej Plant. Also, our sales of Bifenthrin from Dahej is on track and in line with our annual objective.

We consider ourselves responsible towards securing the farmer’s welfare and preserving food security of the nation. We continue to strengthen our association with the Agriculture Universities, Krishi Vigyan Kendras (KVKs) and other critical institutions to impart knowledge and latest technology to the Farmers."

Result PDF

Agrochemicals company Dhanuka Agritech announced Q1FY26 results

  • Revenues from Operations stood at Rs 528.29 crore in Q1FY26 vs Rs 493.58 crore in Q1FY25.
  • EBITDA stood at Rs 83.19 crore in Q1FY26 vs Rs 71.72 crore in Q1FY25.
  • Profit after tax was at Rs 55.50 crore in Q1FY26 vs Rs 48.89 crore in Q1FY25.

Mahendra Kumar Dhanuka, Chairman, said: "Dhanuka Agritech is a leading Indian agrochemical company. Dhanuka is working with the vision of Transforming India through Agriculture. We have a pan-India presence in all major states to reach out to more than 10 million farmers with our products and services. Dhanuka’s key focus has been on introduction of novel chemistries and extensive product development distinguishing us from the rest of the industry.

With four manufacturing units and 41 warehouses across India, we cater to around 6,500 distributors and around 80,000 retailers. Dhanuka has a strong Sales and Marketing team to promote and develop new products. Dhanuka with 2 R&D Laboratories has world-class NABL accredited laboratories as well as an excellent team for new product registration and development. Dhanuka has international collaboration with ten leading global agrochemical companies from Japan, US and Europe, which helps us to introduce the latest technology in India.

The April to June 2025 quarter remained challenging for the Indian agrochemical industry. A delayed and uneven onset of the southwest monsoon impacted the timely sowing of kharif crops, leading to subdued demand for agri-inputs, particularly herbicides. Farmers exercised caution in purchases due to uncertainty in rainfall and lower realizations from previous harvests. Additionally, channel inventories remained elevated in certain regions, further affecting primary sales. However, towards the latter part of June, rainfall improved, reviving optimism for the upcoming season and setting a foundation for recovery in the second quarter. India is likely to achieve a new record in foodgrain production during the 2025-26 Kharif season starting next month, buoyed by forecasts of above-normal monsoon rains. The India Meteorological Department (IMD) has forecast an above-normal southwest monsoon for the entire 2025 Kharif season (June to September).

As shared in the last call, we introduced 1 new 9(3) product in Q1, Dinkar which is a herbicide for Paddy crop, and it has received highly encouraging response from farmers, especially in South region.

The Shareholders of the Company in the 40th Annual General Meeting held today at 11.00 AM declared the Final Dividend of 100% that is Rs2/- per equity share having face value of Rs 2-/per share. The Company has already rewarded its Equity Shareholders with buy back of 5 lakh Equity Shares @ Rs 2000/- per Equity Share absorbing Rs 100 crore."

Result PDF

Agrochemicals company Dhanuka Agritech announced Q3FY25 results

  • Revenues from Operations stood at Rs 445.27 crore in Q3FY25 vs Rs 403.24 crore in Q3FY24.
  • EBITDA stood at Rs 75.56 crore in Q3FY25 vs Rs 62.16 crore in Q3FY24.
  • Profit after tax was at Rs 55.04 crore in Q3FY25 vs Rs 45.37 crore in Q3FY24.

Mahendra Kumar Dhanuka Chairman, said: Dhanuka Agritech is a leading Indian agrochemical company. Dhanuka is working with the vision of Transforming India through Agriculture. We have a pan-India presence in all major states to reach out to more than 10 million farmers with our products and services. Dhanuka’s key focus has been on introduction of novel chemistries and extensive product development distinguishing us from the rest of the industry.

With four manufacturing units and 41 warehouses across India, we cater to around 6,500 distributors and around 80,000 retailers. Dhanuka has a strong Sales and Marketing team to promote and develop new products. Dhanuka’s strong R&D division has worldclass NABL accredited laboratory as well as an excellent team for new product registration and development. Dhanuka has international collaboration with ten leading global agrochemical companies from Japan, US and Europe, which helps us to introduce the latest technology in India. Quarter 3 is important from the perspective of Rabi crops like Rice in South and East India, Wheat in North and Central India. This quarter is also important for farmers for harvest of Kharif crops and selling the harvest to generate money for the next season. In horticulture segment, Q3 is key season for Potato in North India, Grapes in West India Chilli in South India. This year the disease appearance in Potato, Grapes and Chilli was less, resulting in lower sales of some key fungicides. Also, due to carry over stocks of Chili from last season the commodity prices remained low resulting in fewer sprays in the crop.

However, I am happy to share that we got excellent sales and Liquidation for the key product Lanevo as well as Mycore Super in this season. Both these products were introduced in this year it self and have been well accepted by farmers across India. Further, we introduced 1 new 9(4) product – “Roxa” – Pyroxasulfone 85% WG to control weeds in wheat crop and received good response from the market.

We have also informed that the Company has acquired international rights to the active ingredients Iprovalicarb and Triadimenol (invented by Bayer AG). With this acquisition, Dhanuka plans to expand its footprint in more than 20 countries, including the regions of Latin America, Europe Middle East & Africa as well as Asia including India. This acquisition will enable Dhanuka to embark on a journey of global market expansion. Dhanuka will be shifting the manufacturing of at least one of the products to India, leveraging the capabilities of our manufacturing unit at Dahej, Gujarat.

Result PDF

Agrochemicals company Dhanuka Agritec announced Q2FY25 results

  • Revenue from operations grows 5.9% YoY to Rs 654.28 crore in Q2FY25, compared to Rs 617.92 crore during Q2FY24.
  • EBITDA improves 12.7% YoY to Rs 159.58 crore.
  • PBT: 14.6% YoY to Rs 156.66 crore.
  • PAT: 15.5% YoY to Rs 117.52 crore.

Mahendra Kumar Dhanuka, Chairman of Dhanuka Agritech, said: “Our Q2 performance reflects both strong demand for our portfolio and our strategic approach in meeting market needs during this critical agricultural season. The monsoon’s timely arrival, along with our streamlined distribution, has bolstered our supply chain and fostered positive growth in this quarter."

“The sowing season has been strong, with substantial acreage in key crops as we anticipated. The forecast of a normal monsoon has supported a robust demand trajectory. As we move forward, we are strategically positioned to sustain growth and strengthen our EBITDA margins while delivering value to our distribution network and our customeRs"

Result PDF

Agrochemicals company Dhanuka Agritech announced FY24 results:

  • The company recorded revenues of Rs 1,758.54 crore for Q4FY24, an increase of 3.4% over PY of Rs 1,700.22 crore.
  • Profit after tax was Rs 239.09 crore, as compared to PY profit after tax of Rs 233.51 crore.

Commenting on the Q4 performance, M. K. Dhanuka, Vice-Chairman and Managing Director, Dhanuka Agritech said, despite the year 2023 recording below-average rainfall (820 mm compared to the usual 868.6 mm) due to El Nino, prevailing volatile and challenging market conditions, the company performed reasonably well. Our new product offerings have received encouraging responses from the farming community.

As IMD forecasts predict above-normal rainfall this year, it would significantly benefit the agriculture sector, especially the kharif season. Accordingly, we at Dhanuka are hopeful of delivering a strong performance and profit stabilization in the current financial year.

Projecting into the current financial year, he said like the last few years, the company plans to launch several groundbreaking products in the current financial year. These advancements will not only revolutionize Indian agriculture but also solidify the company's position in the competitive agrochemical market. Already, in the month of April-May, we have launched three innovative products including the global introduction of the herbicide ‘Purge’, as well as the launch of insecticide ‘LaNevo’, and bio-fertilizer ‘MYCORe Super’. The initial feedback of the market is phenomenal for all these products and we plan the introduction of more innovative products over the next few months.

Result PDF

Agrochemicals manufacturer Dhanuka Agritech announced Q2FY23:

  • Dhanuka Agritech clocked Rs 73.02 crore profit during the July-September quarter of FY'23, up 15.2% from the same quarter of the previous fiscal year.
  •  Total revenue grows 23.7% YoY to Rs 542.90 crore 

Commenting on the Q2 performance, MK Dhanuka, Managing Director, Dhanuka Agritech said: "We have witnessed reasonable growth in the top line but faced pressure on our margins due to high raw material prices. While the prices of raw materials increased, we did not pass them on to the consumers, which has impacted our margins. Apart from this, the margins were impacted due to the depreciation of the Rupee Vs Dollar”.

 

 

Result PDF

Dhanuka Agritech declares Q4FY22 result:

  • Revenue from Operations stood at Rs. 318.30 Crores in Q4 FY2021-22 vs Rs. 275.56 Crores in Q4 FY2020-21.
  • EBITDA stood at Rs. 77.27 Crores in Q4 FY2021-22 vs Rs. 73.36 Crores in Q4 FY2020-21.
  • Profit after tax was at Rs. 54.28 Crores in Q4 FY2021-22 vs Rs. 48.64 Crores in Q4 FY2020-21.
  • Revenue from Operations: expected double digit growth
  • EBITDA: expecting all most similar growth in line of previous year.

 

Result PDF

Agrochemicals company Dhanuka Agritech declares Q3FY22 result:

  • Revenue from Operations: Revenues from Operations stood at Rs. 356.86 Crores in Q3 FY2021-22 vs Rs. 295.66 Crores in Q3 FY2020-21.
  • EBITDA: EBITDA stood at Rs. 61.74 Crores in Q3 FY2021-22 vs Rs. 59.59 Crores in Q3 FY2020-21 
  • PAT: Profit after tax was at Rs. 42.51 Crores in Q3 FY2021-22 vs Rs. 40.04 Crores in Q3 FY2020-21.
  • Revenue from Operations: expected muted growth due to delay in monsoon.
  • EBITDA: may impact due to muted growth and steep increase in the price of many molecules.

 

Result PDF

Highlights

  • Revenue from Operations: Revenues from Operations stood at Rs. 438.82 Crores in Q2 FY2021-22 vs Rs. 442.39 Crores in Q2 FY2020-21.
  • EBITDA : EBITDA stood at Rs. 89.09 Crores in Q2 FY2021-22 vs Rs. 97.20 Crores in Q2 FY2020-21 . 
  • PAT: Profit after tax was at Rs. 63.37 Crores in Q2 FY2021-22 vs Rs. 70.08 Crores in Q2 FY2020-21.
  • Revenue from Operations: expected muted growth due to delay in mansoon.
  • EBITDA: may impact due to muted growth and carry over of high price inventory.

Dhanuka Agritech is working for Transforming India through Agriculture by working with farmers closely to improve their productivity and quality, in turn enhancing their income. We work in all major crops in India and have implemented the best-in-class technology to ensure a smooth and efficient supply chain. ‘To service the diversity of Indian crops and needs of the farmers the company has a wide range of products in tts portfolio, with over 80 brands in pack sizes ranging from 2 grams to 20 liters. These products are in various forms like liquids, powders and granules.

Coming to the financial performance for Quarter 2 of PY 2021-22, Revenues from Operations stood at Rs. 438.82 Crores in Q2 FY2021-22 vs Rs. 442.39 Crores 1n Q2 FY2020-21. EBITDA stood at Rs. 89.09 Crores 1n Q2 FY2021-22 vs Rs. 97.20 Crores in Q2 FY2020-21. Profit after tax was at Rs. 63.37 Crores 1n Q2 FY2021-22 vs Rs. 70.08 Crores 1n Q2 FY2020-21.

The Company has started working on tts greenfield project at Dahej, Gujarat. Further, I am happy to inform you that Dhanuka has been granted its the first Patent for the formulation of Synergistic Herbicidal Formulation comprising a combination of Halosulfuron Methyl and Metribuzin for control of sedges, narrow and broadleaf weeds in sugarcane. The product is under registration process and expected to be launched tn 2023.

We have also conducted the ritual of “Bhoom1i Pooyan” for the new R&D facility at Palwal, Haryana on 10th Sept. 2021. Dr. Yogendra Sehrawat, Ex-Director — Horticulture, Government of Haryana graced the occasion as Chief Guest. We will set up an R&D and Training Centre at this location for development of new technologies for agriculture and transfer of these technologies to the farmers. I am pleased to share that ICRA Credit Rating Agency has upgraded the long-term rating of Dhanuka Agritech Ltd from ICRA AA- (pronounced ICRA double A minus) to ICRA AA (pronounced ICRA double A).

Dhanuka has entered into Shareholders’ Agreement and Share Subscription Agreement with M/s loTechWorld Avigation Private Limited (‘IoTech”), a drone manufacturing company, on 11" August, 2021. As per said Agreement, DHANUKA will invest a total amount of Rs 30 Crores (Rupees Thirty Crores Only) in IoTech in the form of subscription of Compulsory Convertible Preference Shares (‘CCPS”). The Company has invested the 1st tranche of Rs. 20 Crores in this company in September 2021.

 

 

Result PDF

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