Dhanuka Agritech net up 26 pc at Rs 13.88 cr

Agrochemicals producer Dhanuka Agritech Ltd (DAL) reported a 26 per cent rise in its consolidated net profit for the quarter ended March 31, 2011 to Rs 13.88 crore over Rs 10.81 crore in the year-ago period.

DAL's consolidated revenue in the March 2011 quarter rose by 13 per cent to Rs 128.01 crore as compared to Rs 113.27 crore in the corresponding period of the previous year, the company said in a statement.

The company''s net profit in the full year 2010-11 rose by 41 per cent to Rs 51.11 crore as against Rs 36.33 crore in the previous fiscal.

Its net revenue rose by 21 per cent to Rs 439.59 crore as compared to Rs 408.72 crore in the period under review.

DAL has also recommended a final dividend of Rs 2 for the year ended March 31, 2011.

"The Board of Directors of the company have recommended the payment of final dividend to the Shareholders at the rate of 100 per cent (Rs 2 per equity share of Rs 2 each), for the year ended March 31, 2011," the company said in a filing to the Bombay Stock Exchange (BSE).

Dhanuka also plans to modernise its production plants.

"We are further enhancing our manufacturing capabilities at Sanad (Gujarat) and Udhampur (Jammu and Kashmir) and also undertaking modernisation at other facilities with the help of high tech machineries and plant automation," Dhanuka Group Managing Director M K Dhanuka said.

DAL is involved in the manufacturing and sale of agro-chemicals and seeds.

Shares of the company today closed at Rs 79.80, down marginally by 0.06 per cent from previous close at the BSE.