Dhanuka Agritech
Dhanuka Agritech
ChemicalsKey Fundamentals
MicrocapPesticides & AgrochemicalsChemicalsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
1- The company has delivered a poor sales growth of 7.80% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Dhanuka Agritech is a nearly debt-free agrochemical company trading at a PE of 16x with a market cap of ₹4,664 Cr. The company has maintained a consistent ROE of ~20% over 5 years but faces headwinds with negative TTM sales growth of -1% and a sharp 46% stock price decline over the past year.
- Company is virtually debt-free, providing significant financial flexibility and low interest burden
- Consistent return on equity averaging 21% over 5 years and 20% over 3 years, indicating efficient capital allocation
- PE ratio of 16x is reasonable for a specialty chemicals company with 20%+ ROE, suggesting valuation is not stretched
- Compounded profit growth of 11% over 10 years demonstrates long-term earnings consistency
- 10-year compounded sales CAGR of 9% shows the company has grown revenue through multiple agricultural cycles
- Price-to-book ratio of 2.73x is modest relative to 18-21% ROE range, implying reasonable value for return generated
- Company has actively reduced debt over time, strengthening its balance sheet for potential future expansion
- 3-year compounded profit growth of 10% outpaces 3-year sales growth of 6%, indicating margin improvement over the medium term
- Stock price has declined 46% over the past 1 year, reflecting significant negative market sentiment
- TTM sales growth is negative at -1%, indicating current revenue contraction
- TTM profit growth is negative at -2%, showing earnings are currently declining
- 5-year sales CAGR of only 8% and recent deceleration to -1% TTM suggests structural growth challenges in the agrochemical segment
- ROE has declined from 21% (5-year average) to 18% in the last year, signaling deteriorating capital efficiency
- Dividend yield of only 0.19% provides minimal income support for investors during periods of capital loss
- 5-year stock CAGR of just 2% has significantly underperformed broader market indices over the same period
- 5-year compounded profit growth of only 6% lags the 10-year average of 11%, indicating a slowdown in earnings momentum
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Q1 earnings call scheduled Jul 28
Dhanuka Agritech will host an analyst/investor conference call on Aug 3, 2026 at 3:30 PM IST to discuss Q1 FY27 results, hosted by Antique Stock Broking.
TL;DR: Limited recent news flow for Dhanuka Agritech with only a routine earnings call announcement. No material headwinds or positive catalysts identified in the current news cycle. Investors should watch the Aug 3 Q1 FY27 results call for updates on revenue growth, margin trajectory, and kharif season performance.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 369 | 618 | 403 | 368 | 494 | 654 | 445 | 442 | 528 | 598 | 410 | 483 | 462 |
| Expenses | 325 | 476 | 341 | 288 | 422 | 495 | 370 | 332 | 445 | 462 | 351 | 358 | 407 |
| Operating Profit | 44 | 142 | 62 | 80 | 72 | 160 | 76 | 110 | 83 | 137 | 59 | 125 | 55 |
| OPM % | 12% | 23% | 15% | 22% | 15% | 24% | 17% | 25% | 16% | 23% | 14% | 26% | 12% |
| Other Income | 7 | 6 | 7 | 15 | 7 | 11 | 7 | 11 | 8 | 6 | 8 | 21 | 9 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 5 | 10 | 13 | 13 | 12 | 13 | 13 | 17 | 15 | 16 | 16 | 16 | 14 |
| PBT | 45 | 137 | 56 | 81 | 66 | 157 | 68 | 102 | 75 | 126 | 50 | 128 | 49 |
| Tax % | 26% | 26% | 19% | 28% | 26% | 25% | 19% | 26% | 26% | 25% | 20% | 24% | 25% |
| Net Profit | 33 | 102 | 45 | 59 | 49 | 118 | 55 | 76 | 56 | 94 | 40 | 98 | 36 |
| EPS in Rs | 7.23 | 22.33 | 9.95 | 12.95 | 10.73 | 26.07 | 12.21 | 16.75 | 12.31 | 20.85 | 8.87 | 21.69 | 8.14 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 785 | 829 | 883 | 963 | 1,006 | 1,120 | 1,387 | 1,478 | 1,700 | 1,759 | 2,035 | 2,020 | 1,953 |
| Expenses | 653 | 689 | 713 | 796 | 860 | 946 | 1,118 | 1,214 | 1,421 | 1,431 | 1,619 | 1,616 | 1,578 |
| Operating Profit | 132 | 140 | 170 | 166 | 146 | 174 | 269 | 264 | 279 | 327 | 417 | 404 | 375 |
| OPM % | 17% | 17% | 19% | 17% | 15% | 16% | 19% | 18% | 16% | 19% | 20% | 20% | 19% |
| Other Income | 6 | 13 | 18 | 16 | 21 | 25 | 34 | 34 | 45 | 35 | 36 | 43 | 44 |
| Interest | 3 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 5 | 4 | 3 |
| Depreciation | 6 | 6 | 15 | 14 | 12 | 16 | 15 | 16 | 18 | 41 | 55 | 64 | 63 |
| PBT | 129 | 145 | 172 | 167 | 154 | 181 | 285 | 277 | 303 | 319 | 392 | 379 | 353 |
| Tax % | 18% | 26% | 29% | 24% | 27% | 22% | 26% | 25% | 23% | 25% | 24% | 24% | — |
| Net Profit | 106 | 107 | 122 | 126 | 113 | 141 | 211 | 209 | 234 | 239 | 297 | 287 | 268 |
| EPS in Rs | 21.21 | 21.45 | 24.83 | 25.71 | 23.66 | 29.73 | 45.21 | 44.82 | 51.23 | 52.46 | 65.88 | 63.72 | 59.55 |
| Div. Payout % | 6% | 30% | 2% | 21% | 3% | 40% | 4% | 31% | 4% | 27% | 3% | 3% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 10 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 410 | 470 | 512 | 624 | 633 | 698 | 787 | 951 | 1,052 | 1,247 | 1,394 | 1,673 |
| Borrowings | 16 | 8 | 8 | 5 | 22 | 8 | 48 | 32 | 34 | 27 | 74 | 31 |
| Other Liabilities | 166 | 169 | 185 | 185 | 171 | 217 | 286 | 320 | 310 | 296 | 323 | 390 |
| Total Liabilities | 594 | 657 | 715 | 823 | 835 | 932 | 1,131 | 1,312 | 1,405 | 1,579 | 1,800 | 2,102 |
| Fixed Assets | 70 | 133 | 138 | 131 | 117 | 117 | 167 | 159 | 165 | 338 | 504 | 467 |
| CWIP | 38 | 0 | 0 | 0 | 1 | 4 | 8 | 48 | 153 | 28 | 9 | 12 |
| Investments | 47 | 92 | 66 | 182 | 120 | 159 | 278 | 336 | 255 | 240 | 230 | 371 |
| Other Assets | 438 | 431 | 510 | 510 | 597 | 652 | 679 | 769 | 833 | 973 | 1,057 | 1,252 |
| Total Assets | 594 | 657 | 715 | 823 | 835 | 932 | 1,131 | 1,312 | 1,405 | 1,579 | 1,800 | 2,102 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 110 | 140 | 63 | 138 | 13 | 162 | 231 | 104 | 136 | 134 | 263 | 196 |
| Investing | -70 | -66 | 20 | -111 | 63 | -44 | -127 | -43 | 3 | -81 | -143 | -118 |
| Financing | -38 | -76 | -81 | -20 | -87 | -93 | -129 | -61 | -137 | -57 | -120 | -60 |
| Net Cash Flow | 2 | -2 | 3 | 7 | -10 | 25 | -25 | 1 | 2 | -3 | 0 | 18 |
| Free Cash Flow | 85 | 113 | 44 | 131 | 9 | 152 | 219 | 46 | 36 | 46 | 74 | 169 |
| CFO/OP | 101 | 124 | 63 | 107 | 46 | 114 | 108 | 65 | 75 | 65 | 86 | 70 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 90 | 82 | 76 | 79 | 79 | 79 | 64 | 70 | 73 | 72 | 82 | 80 |
| Inventory Days | 161 | 125 | 222 | 147 | 137 | 141 | 137 | 148 | 123 | 155 | 132 | 173 |
| Days Payable | 52 | 46 | 48 | 60 | 51 | 64 | 50 | 74 | 62 | 56 | 46 | 66 |
| Cash Conversion Cycle | 199 | 160 | 250 | 166 | 165 | 156 | 151 | 143 | 133 | 172 | 168 | 187 |
| Working Capital Days | 113 | 112 | 138 | 122 | 145 | 125 | 103 | 112 | 107 | 140 | 121 | 154 |
| ROCE % | 33% | 31% | 34% | 29% | 23% | 26% | 36% | 30% | 27% | 27% | 28% | 24% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY11–FY27.
Documents
Frequently Asked Questions about Dhanuka Agritech
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Company Information
Dhanuka Agritech manufactures a wide range of agro-chemicals like herbicides, insecticides, fungicides, plant growth regulators in various forms liquid, dust, powder and granules.(Source : 202003 Annual Report Page No:93)
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