Dhanuka Agritech Limited has informed the Exchange about Transcript
DHANUKA · price
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Dhanuka Agritech reported Q1 FY26 revenue of INR528.29 crores, up 7% year-on-year, with EBITDA of INR83.19 crores and profit after tax of INR55.5 crores. Volume growth was 5%, with the remaining 2% coming from a INR9 crore one-time payment from Bayer India. The quarter was impacted by a delayed and uneven monsoon that hurt sowing of soybean and cotton, leading to weak herbicide demand and elevated channel inventory in Madhya Pradesh, Maharashtra, Karnataka and Telangana. Management reiterated guidance of double-digit revenue growth for FY26 (lower end) along with an expected ~100 basis points decline in EBITDA margins, citing the ban on a high-margin biofertilizer molecule and stabilization of technical prices. The Dahej technical plant posted INR16.5 crore revenue and a INR3 crore EBITDA loss in Q1, with full-year revenue target of INR65 crores and a second product slated for H2 FY26.
Margins are set to compress by roughly 100 bps this fiscal, which is the key negative for shareholders despite maintained double-digit growth guidance. However, strong July consumption, an above-normal monsoon forecast and upcoming product launches (Kinzan fungicide, Melody Duo, more me-too products) support a recovery in H1 FY26, while the INR2 dividend and completed INR100 crore buyback provide near-term shareholder returns.