On Friday, the stock of India’s leading agro-chemical firm rose slightly to ₹1,274 per share following the company’s launch of the powerful insecticide ‘LaNevo’ along with a bio-fertilizer in the Indian market.
On Friday at 12:35 p.m., Dhanuka Agritech Ltd shares were trading at ₹1,260 per share, showing a decrease of 1.03% on the National Stock Exchange. The company’s market capitalization stands at ₹5,863 crores.
According to the company’s recent exchange filing, Dhanuka Agritech Limited introduced two innovative products, the potent insecticide ‘LaNevo’ and the bio-fertilizer ‘MYCORe Super’. The company launched new products to enhance agriculture yields and to transform crop protection.
The launch of ‘LaNevo’ also signifies a strategic partnership with Nissan Chemical Corporation, Japan, which enhances Dhanuka’s insecticide offerings. ‘LaNevo’ provides dual benefits through its unique mode of action, offering enhanced protection against both sucking and chewing pests while minimizing resistance development and promoting healthier crops with increased yields.
Dhanuka Agritech Ltd manufactures an extensive range of agro-chemicals, including herbicides, insecticides, fungicides, and plant growth regulators, available in various forms such as liquids, dust, powder, and granules.
The company has over 300 product registrations across its segments, with approximately 90 products spanning all categories.
Over the past six months, Dhanuka Agritech Ltd’s shares have surged by 51%, and over the last 12 months, they have risen by an impressive 95%.
The company has experienced notable revenue growth, increasing by 2.5% annually, from ₹393 crore in Q3FY23 to ₹403 crore in Q3FY24. Meanwhile, the net profit has seen a minor decrease from ₹46 crore to ₹45 crore during the same period.
In Q3FY23-24, the company’s EBITDA stood at ₹62.16 crores, compared to ₹51.83 crores in Q3FY22-23. Additionally, the EBITDA margin improved by 15.41% in Q3FY24.
Dhanuka Agritech Ltd maintains a well-diversified portfolio across its business segments, with contributions of 32% from insecticides, 21% from fungicides, 35% from herbicides, and 12% from other products.
As of March 2024, the company’s shareholding pattern indicates that the promoter holds a 70.19% stake, while foreign institutional investors and domestic institutional investors hold 1.49% and 18.90% stakes, respectively.
Written by Omkar Chitnis
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