Dhanuka Agritech -- one of India’s leading agri input companies, announced its financial results for the fourth quarter of FY 2022-23 ended March 2023.
The Gurugram-headquartered company clocked Rs 65.31 crore net profit during the January - March quarter, registering a 20.3 % growth over the same quarter of the previous fiscal year.
For FY22-23 the net profits stood at Rs 233.51 crore, an increase of 11.8% over last fiscal.
(In Rs crore)
(Unless otherwise stated)
Key Highlights – Q4
Dhanuka Agritech recorded revenues of Rs 371.23 crore for the quarter ending March 31, 2023, an increase of 16.6 % over Rs 318.30 crore in the previous fiscal. Profit after tax stood at Rs 65.31 crore, as compared to 54.29 crore in the previous fiscal.
Key Highlights – FY22-23
The company recorded revenues of Rs 1700.22 crore for the period ended March 31, 2023, an increase of 15.1% over Rs 1477.78 crore in FY21-22. Profit after tax was Rs 233.51 crore, as compared to 208.78 crore in the previous fiscal.
Management’s take on Q4FY23 Performance
Commenting on the performance, M. K. Dhanuka, Vice Chairman and Managing Director, Dhanuka Agritech Ltd. said ″I am pleased to inform that Dhanuka Agritech has achieved a turnover of 1700 crores first time in its history. The net profits are 233 crores, which is the highest since the inception of the company. This achievement is commendable despite all odds. The rainfall was erratic both in Karif and Rabi seasons. The pest infestation was also low due to which many sprays were missed out by the farmers. Despite these factors, the company was able to post good figures.″
″Although the sky met is forecasting El Nino for the current season. We hope there is no major impact on the consumption of the products. We expect double-digit volume growth in this financial year.″ M. K. Dhanuka said.
The company recently launched new products to augment its offering portfolio and enter the new agri-biological segment with the launch of its BiologiQ range of sustainable agri products. Three introductory products in the BiologiQ range are Whiteaxe biological insecticide, Downil biological fungicide, and Sporenil biological wilticide. Apart from these, Dhanuka further strengthened its herbicide portfolio by introducing two selective herbicides Implode and Mesotrax.
With these new introductions, Dhanuka Agritech is optimistic to strengthen its position in the crop care product segment. Dhanuka Agritech has a positive outlook for the agricultural sector in India for FY 2023-24 with new growth plans and a robust product pipeline. Dhanuka will be launching 2 to 3 new 9 (3) molecules for the first time in India. Apart from these, the company will also introduce 3 to 4 molecules under section 9 (4) or co-market them.
The company is gearing up to start production at its newly built Dahej Plant in Gujarat this year. The new plant will support Dhanuka in its long-term business objectives and revenue growth. ″We are going to start production at Dahej from July 2023 onwards and hope in times to come we will be able to produce technical-grade pesticides from there. The export division has started and is at an infant stage and will contribute to the company’s top-line and bottom-line growth.″
″We at Dhanuka acknowledge the role of Indian farmers in nation-building and devote our efforts toward their betterment. Our products, services, and work are Dhanuka’s dedication to all the farmers of India″ – India Ka Pranam Har Kisan Ke Naam.