Transcript of conference call held on 19th May, 2026 with Analysts/Investors to discuss the Audited Financial Results of the Company for the Quarter and Financial Year ended 31st March, 2026

Dhanuka Agritech delivered resilient Q4 FY26 performance with revenue of Rs. 483.34 crore (up 9% YoY), EBITDA of Rs. 124.89 crore, and PAT of Rs. 97.77 crore. The Board announced a 100% dividend (Rs. 2 per share) and a Rs. 70 crore buyback at Rs. 1,400 per share. Management guided for low double-digit revenue growth in FY27 but expects 100 bps EBITDA margin decline due to GST refund reversal (Rs. 29 crore benefit not repeating) and lower net economic benefit. Dahej plant continues to be loss-making (Rs. 13 crore loss) with FY27 revenue target revised to Rs. 75 crore from original Rs. 100 crore. Bayer-acquired products (Melody Duo) contributed Rs. 27 crore in FY26 and are expected to double to Rs. 35 crore in FY27. Raw material inflation of 3-5% is being passed on gradually (2% in Q1, 3-4% in Q2). The company introduced its first ESOP scheme and called off a planned Spanish biological products partnership due to red flags.