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BSE LIVE NSE LIVE 26 Aug, 2025 12:21 Volume Todays L/H More ×

Anand Rathi's research report on Dhanuka Agritech

Less than the consensus but in line with ARe, Dhanuka Agritech’s Q2 revenue/EBITDA/PAT fell 9/14/20% y/y. Highlights: a) Subdued revenue growth chiefly due to rainfall abnormality in the peak kharif season, leading to lower offtake. b) Better product mix led to the GM up 20bps y/y to 42.4%. c) Higher opex pulled the EBITDA margin down 150bps y/y to 22.9%. d) More sales return due to less herbicide sales (13.5% of revenue in H1FY26 vs. 11% the year prior). e) Rs220m Dahej revenue and Rs4.6m EBITDA loss. e) H1 FY26 innovation-turnover index 16.14% (16.09% a year back); f) Post-H1 FY26, management trimmed their

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