Dharmaj Crop Guard Limited

Dharmaj Crop Guard Limited

DHARMAJ.BO
Dharmaj Crop Guard LimitedIN flagBombay Stock Exchange
259.40
INR
+0.60
- -
8.71BMarket Cap
Dharmaj Crop Guard Limited
DHARMAJ.BO
(Bombay Stock Exchange)

Recent

price

259.40

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
2026
TTM
FRC
58.24
88.84
115.92
189.78
193.11
281.29
336.73
335.01
Revenue per Share
3.18
6.2
8.49
9.76
13.13
10.3
16.17
16.09
Basic EPS, GAAP
-3.73
-1.86
-2.14
-33.72
-54.01
1.94
0.21
- -
Free Cash Flow per Basic Share
- -
- -
0.05
0.09
- -
- -
- -
- -
Dividend per Share
8.2
14.39
25.13
43.82
48.77
59.11
10
9.95
Book Value per Share
10.45
16.55
24.57
113.39
105.13
114.77
129.89
129.23
Tangible Book Value per Share
34
34
34
28
34
34
34
34
Basic Weighted Avg Shares
1,968
3,002
3,918
5,224
6,527
9,510
11,380
11,380
Sales/Revenue/Turnover
8.19
9.57
10.01
8.38
9.13
5.94
7.15
7.15
Operating Margin (%)
22
26
53
51
54
183
191
191
Depreciation Expense
108
210
287
269
444
348
546
546
Net Income, GAAP
25.61
25.65
25.54
29.73
22.81
23.89
24.61
24.61
Effective Tax Rate (%)
5.47
6.98
7.32
5.14
6.8
3.66
4.8
4.8
Profit Margin (%)
111
278
467
2,059
1,186
1,425
1,816
1,816
Working Capital
51
152
253
335
761
641
510
510
LT Debt
354
563
849
3,152
3,594
3,944
4,490
4,490
Total Equity
- -
30.53
28.31
12.54
10.99
8.84
11.27
11.27
Return on Invested Capital (%)
- -
35.46
30.87
19.26
20.77
15.08
28.11
28.11
Return on Capital (%)
- -
54.91
42.97
26.13
31.09
19.1
46.77
46.77
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
807
- -
809
LT Borrowings
581
- -
510
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
34
- -
34
Market Capitalization
10,166
8,156
7,816

Working Capital

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
6,295
- -
5,127
Cash, Cash Equivalents & STI
68
- -
67
Accounts Receivable, Net
4,508
- -
2,807
Inventories
1,654
- -
2,074
Total Current Liabilities
4,451
- -
3,311
Payables & Accruals
- -
- -
- -
ST Debt
807
- -
809
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
71.9%
13.85%
Free Cash Flow
- -
220.23%
-89.42%
Net Income, GAAP
- -
26.22%
56.92%
Sales/Revenue/Turnover
- -
30.83%
19.65%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,575
2,571
1,234
1,146
6,527
2025
2,553
3,113
1,745
2,099
9,510
2026
3,674
3,473
1,895
2,338
11,380

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4.29
7.55
2.29
- -
13.13
2025
4.46
6.22
0.35
-0.73
10.3
2026
9.64
5.13
0.22
1.17
16.17

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Dharmaj Crop Guard Limited Dharmaj Crop Guard Limited manufactures, distributes and markets a comprehensive range of agrochemical formulations including insecticides such as Padgham, Lubrio, Nilaayan, Remora and Emamectin Benzoate 5% SG; fungicides such as Hexaconazole 5% EC, Tebuconazole 10% + Sulphur 65% WG and Thiophanate Methyl 70% WP; herbicides including Glyphosate 41% SL, Pendimethalin 38.7% CS and Glufosinate Ammonium 13.5% SL; plant growth regulators like Gibberellic Acid 0.001% L, Ethephon 39% SL and Rujuta; micro fertilizers such as Zinc 12% EDTA, Boron 20% and Greentora Ferrous 12% EDTA; and antibiotics including Retardo, alongside general insect and pest control chemicals for public health and animal health protection. The company operates through three verticals--Branded Formulations for B2C sales to Indian farmers via a network spanning 24 states with over 15,000 retail touchpoints and 5,000 dealers; Institutional Formulations for B2B domestic and export customers across 29 to 38 countries in Latin America, East Africa, the Middle East and Far East Asia, serving over 700 institutional clients with 250-plus products; and Active Ingredients for technicals and intermediates. Founded in 2015 and headquartered in Ahmedabad, Gujarat, India, Dharmaj Crop Guard maintains formulations production capacity of 25,500 metric tons per annum at its Kerala GIDC facility near Bavla, Ahmedabad, and 8,000 metric tons per annum multi-purpose capacity for active ingredients and intermediates at its Saykha GIDC plant in Bharuch, Gujarat, with capabilities across EC, SC, SL, SG, WDG, WP, DP, GR, CS and ZC formulations, supported by NABL-accredited quality control labs, DSIR-certified R&D and certifications including ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and ISO 17025:2017. Recent developments include the January 2024 commissioning of the Saykha active ingredients facility enabling backward integration, captive consumption and external sales of eight commercialized products targeting 200 metric tons monthly run-rate; expansion into four new South Indian states--Odisha, Andhra Pradesh, Karnataka and Telangana--establishing pan-India presence across 24 states; new product launches such as Suffar Gold and others in FY24 contributing to portfolio refresh; land acquisitions for formulation capacity expansion in Kerala GIDC and a 99-year lease at Saykha; achievement of record revenue exceeding 6.5 billion rupees in FY24 with 25% top-line growth despite industry headwinds; CRISIL credit rating upgrade to BBB+/Stable; and recent board changes including appointments of additional independent directors Umesh Menon and Bhuptray Khunt, alongside financial results announcements for quarters through June 2025.