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Dhanuka Agritech Ltd. — Earnings Release 2024
May 17, 2024
61335_rns_2024-05-17_a24645b1-fc62-4bcd-92ed-dd968ba7c8fc.pdf
Earnings Release
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Date: 17[th] May, 2024
Listing Department The Department of Corporate ServicesNational Stock Exchange of India Listing Limited The BSE Ltd. Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot No. C/1, G. Block, Dalal Street, Bandra- Kurla Complex, Mumbai- 400 001 Bandra East, Mumbai-400 051 Scrip Code : 507717 Symbol- DHANUKA
Sub: Press Release- Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2024
Dear Sir/Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is a copy of the Press Release with regard to the Audited Financial Results of the Company for the Quarter and Financial Year ended March 31, 2024.
A copy of the Press Release is also uploaded on the website of the Company at www.dhanuka.com
Please take the above information in your record.
Thanking you,
For Dhanuka Agritech Limited
Digitally signed JITIN by JITIN SADANA SADANA Date: 2024.05.17 16:37:14 +05'30'
Jitin Sadana Company Secretary and Compliance Officer FCS-7612
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Dhanuka Agritech FY24 net profit up by 2.4% to Rs. 239.09 Cr; Revenue increases to Rs. 1758.54 Cr in FY’24 by 3.4%
Delhi, 17 May 2024 : Dhanuka Agritech -- one of the leading agri input companies in India – today announced its financial results for the fourth quarter of the financial year ending March 2024.
Financial Performance Update
| INR crore (Unless otherwise stated) |
FY24 | FY23 | YoY % |
|---|---|---|---|
| Revenue | 1758.54 | 1700.22 | 3.4% |
| EBITDA | 327.44 | 278.7 | 17.5% |
| EBITDA Margin (%) |
18.62% | 16.39% | |
| Net Profit | 239.09 | 233.51 | 2.4% |
Key Highlights – 12M ending 31st March 2024
The company recorded revenues of ₹ 1758.54 Cr for the period ended March 31, 2024, an increase of 3.4 % over PY of ₹ 1700.22 Cr . Profit after tax was ₹ 239.09 Cr , as compared to PY profit after tax of ₹ 233.51 Cr.
The company recently launched several products which will revolutionize the agricultural sector of the country. The products, include LaNevo, MYCORe SUPER and Purge.
Management’s take on Q4FY24 Performance
Commenting on the Q4 performance, Mr. M. K. Dhanuka, Vice-Chairman and Managing Director, Dhanuka Agritech Ltd said, despite the year 2023 recording below-average rainfall (820 mm compared to the usual 868.6 mm) due to El Nino, prevailing volatile and challenging market conditions, the company performed reasonably well. Our new product offerings have received encouraging responses from the farming community.
As IMD forecasts predict above-normal rainfall this year, it would significantly benefit the agriculture sector, especially the kharif season. Accordingly, we at Dhanuka are hopeful of delivering a strong performance and profit stabilization in the current financial year.
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Projecting into the current financial year, he said like the last few years, the company plans to launch several groundbreaking products in the current financial year. These advancements will not only revolutionize Indian agriculture but also solidify the company's position in the competitive agrochemical market. Already, in the month of April-May, we have launched three innovative products including the global introduction of the herbicide ‘Purge’, as well as the launch of insecticide ‘LaNevo’, and bio-fertilizer ‘MYCORe Super’. The initial feedback of the market is phenomenal for all these products and we plan the introduction of more innovative products over the next few months.
For media information:
Dhanuka Agritech: Nishtha Saxena / 9911236995 / [email protected] PR Partner: Slough PR/ Archana Dwivedi / 9958989404 / [email protected]