Dharmaj Crop Guard Limited has informed the Exchange about Transcript
DHARMAJ · price
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Dharmaj Crop Guard reported FY25 revenue of Rs. 951 crore, up 45% year-on-year, with Q4 revenue at Rs. 210 crore (up 81% YoY). Volume growth was 25-30% across most products despite pricing pressure in the agrochemical industry. The Sayakha active ingredient plant contributed Rs. 217 crore in its first full year but recorded an EBITDA loss of Rs. 7 crore and PBT loss of Rs. 25 crore due to below-cost pricing and front-loaded expenses. Working capital improved with cash conversion cycle falling from 84 days to 67 days, and debt-to-equity ratio improved slightly to 0.29. Management guided for 20-25% revenue growth across all segments in FY26, with overall EBITDA margin improving by about 1% to around 9.5%, and aims to reach Rs. 2,000 crore revenue by 2030 with margins around 13%.
Positive revenue growth and improving working capital signals operational strength, but margin recovery remains slow due to Sayakha plant losses and industry pricing pressure. Shareholders should watch FY26 execution on margin improvement and export ramp-up as key catalysts.