Dhanuka Agritech Limited has informed the Exchange about Transcript
DHANUKA · price
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Dhanuka Agritech reported a weak Q2 FY26 with revenue falling to INR598.25 crores (vs INR654.28 crores YoY), EBITDA at INR136.73 crores, and PAT at INR93.97 crores (vs INR117.52 crores YoY), hurt by uneven rainfall, weak herbicide demand (segment dropped to just 9% of sales), and a regulatory disruption in biostimulants (impact of ~INR20+ crores in Q2). Sales returns rose to ~13.5% of sales from 11% earlier. Management revised gross margin guidance to flat YoY (from earlier 100 bps decline), but maintained ~100 bps EBITDA margin pressure for FY26. Bayer products revenue was cut to ~INR40 crores for FY26 (vs earlier INR100 crores guidance), with most export revenue now expected in FY27. Management remains open to acquisitions and is exploring expansion into seeds, water-soluble fertilizers, drones, and IoT-based agriculture services.
Short-term pressure on stock as Q2 numbers missed and annual guidance was cut across multiple fronts (Bayer revenue, margins, Dahej breakeven pushed to FY27). However, management expects Q3 to be 'significantly better' on rabi sowing recovery and biostimulant clearance in coming quarters, offering a near-term recovery catalyst.