DHANUKACommodities

Dhanuka Agritech Limited

Pesticides & Agrochemicals · ISIN INE435G01025 · BSE 507717 · NSE EQ · FV ₹2
Last price
₹943
+0.38%today
What this company does

Dhanuka Agritech Limited operates in Pesticides & Agrochemicals, part of the Commodities sector. It booked ₹658 cr of revenue in its latest quarter (Q2 FY27) and kept 16.6% of sales as profit. It is the 5th largest of 9 Pesticides & Agrochemicals companies we track, by market value.

In the report:
80out of 100
Equitytale Health Score
Fortress

Healthier than 80% of companies in Commodities, on all six measures of filed financials. Each measure is ranked against the 42–176 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
56

At close. Not part of the score.

Profitability & returns88

How much profit it earns on the money it employs

Balance sheet92

How much it owes, and whether earnings cover the interest

Cash quality67

Whether reported profit actually arrives as cash

Growth & consistency83

Whether sales and profit have grown, and how steadily

Valuation49

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 17% net margin
✓ Sales up 33% vs last year
✓ Profit up 123% vs last year
✓ Promoters hold 70%
✓ No promoter shares pledged
✓ Strong 25% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in DHANUKA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹943▲ +0.38%
latest close · 2026-11-04
1-year return
+13.7%
52-wk low ₹66352-wk high ₹1,054
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio9.6Low
LowAverageHigh
P/B ratio2.40Moderate
Below bookModerateHigh
EV / EBITDA6.5Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity25.0%Strong
WeakFairStrong ▸15%
Return on capital32.8%Strong
WeakFairStrong
Net margin16.6%Strong
ThinDecentStrong
EBITDA margin24.7%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover193.4×Strong
RiskyOkayStrong ▸5×
Current ratio3.75Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹4,203 cr
Book value
₹392
EPS
₹24.43
latest quarter
Net debt
₹-5 cr
more cash than debt
Enterprise value
₹4,198 cr
EBITDA
₹649 cr
annualised
EBIT
₹589 cr
annualised
Operating margin
22.4%
Return on assets
19.6%
Earnings yield
10.37%
P/S
1.60
Sales / share
₹590.0
Tax rate
25.4%
Face value
₹2
Shares
4.5 cr
Working capital
₹1,194 cr
Current assets
₹1,628 cr
Current liabilities
₹434 cr
Delivery %
45.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹749 vs market price ₹943 — price is 26% above it
Safety cushion-25.8%(target ≥ +20%)
Models span ₹656–₹842, midpoint ₹749
Model ₹749
Price ₹943
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹658 cr
Other Income₹9 cr
Total Income₹667 cr
Cost of Materials₹326 cr
Purchases of Stock-in-Trade₹18 cr
Inventory Change (±)₹43 cr
Employee Benefit Expense₹53 cr
Finance Costs₹76.1 L
Depreciation & Amortisation₹15 cr
Other Expenses₹65 cr
Total Expenses₹520 cr
Profit before Tax₹146 cr
Tax Expense₹37 cr
Net Profit₹109 cr
Net margin on total income16.4%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹387 cr58.0%
Employee benefit expense₹53 cr8.0%
Finance costs₹76.1 L0.1%
Depreciation & amortisation₹15 cr2.2%
Other expenses₹65 cr9.7%
Tax expense₹37 cr5.6%
Profit for the period₹109 cr16.4%
Total income ₹667 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY25Q4 FY25Q2 FY27
Revenue445 cr442 cr658 cr
Total income452 cr453 cr667 cr
Expenses384 cr352 cr520 cr
Profit before tax68 cr102 cr146 cr
Tax13 cr26 cr37 cr
Net profit (owners' share)55 cr76 cr109 cr
Net margin (owners' share, on revenue)12.4%17.1%16.6%
EPS (₹)12.2516.7424.43
YoY (latest quarter): total income +33.1% · net profit +123.4%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹2,232 cr
Shareholder equity
₹1,748 cr
parent shareholders
Total debt
₹7 L
Cash
₹5 cr
Cash flow · H1 FY27
Operating
₹81 cr
Investing
₹-11 cr
Financing
₹-85 cr
Peer comparison
Pesticides & Agrochemicals · by market value
CompanyPriceMarket capP/E
UPL Limited₹518₹43,758 cr25.9
PI Industries Limited₹2,185₹33,212 cr33.9
Sumitomo Chemical India Limited₹314₹15,668 cr25.0
Sharda Cropchem Limited₹672₹6,058 cr16.5
Dhanuka Agritech Limitedthis company₹939₹4,187 cr9.6
Rallis India Limited₹190₹3,695 cr—
NACL Industries Limited₹115₹2,704 cr32.4
Bhagiradha Chemicals & Industries Limited₹187₹2,427 cr111.4
GSP Crop Science Limited₹434₹2,020 cr19.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.21%
trailing 12 months
Dividend / share (TTM)
₹2
Last dividend
₹2
ex 17 Jul 2026
ActionDetailEx-date
Dividend₹2 / share17 Jul 2026
BuybackBuy Back29 May 2026
Dividend₹2 / share18 Jul 2025
BuybackBuy Back16 Aug 2024
Dividend₹6 / share19 Jul 2024
Dividend₹8 / share14 Feb 2024
Who owns it · 2026-09-30
No pledge
Promoter
69.8%
FII / Foreign
1.6%
DII / Domestic
19.3%
Retail / others
9.3%
Promoter stake down 0.4% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtRam Gopal Agarwal · Promoters10,100 · ₹97.6 L8 Dec 23
SoldSatya Narain Agarwal · Promoter Group10,000 · ₹92.1 L7 Dec 23
SoldAbhishek Dhanuka · Promoter Group100 · ₹97,0926 Dec 23
Bulk / block deals
short— · NSE1003 Aug 26
short— · NSE723 Feb 26
short— · NSE3216 Jun 25
Stake changes
BoughtDSP Trustee Private Limited on behalf of schemes of DSP Mutual Fund→ 9.36% · 10,35016 Feb 26
BoughtDSP Trustee Private Limited on behalf of schemes of DSP Mutual Fund→ 9.36% · 10,35016 Feb 26
SoldRam Gopal Agarwal · promoter→ 0.42% · 1.50 L30 Jun 21
Promoter pledges
ReleasedBajaj Finance Ltd9.99 L · 2.14% held8 Feb 21
ReleasedBajaj Finance Ltd2.10 L · 0.45% held8 Feb 21
ReleasedNA37.86 L · 8.39% held3 Jul 20
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 19 Mar 2026
See the official result
1
Appointment of Mr Sanjiv Goel (DIN: 03616090) as an Independent Director of the Company, for the first term of 5 years
Backed by 100% of shareholders other than promotersneeded 75%
80.76 L votes for, 251 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 26 named members
owning 69.8% between them · as of 2026-09-30
TRIVENI TRUST57.22%
PUSHPA DHANUKA TRUST10.17%
MANISH DHANUKA0.58%
RAHUL DHANUKA0.44%
MAHENDRA KUMAR DHANUKA HUF (Mahendra Kumar Dhanuka)0.43%
SATYA NARAIN AGARWAL0.33%
MAYURI DHANUKA0.12%
PUSHPA DHANUKA0.12%
Business done with them
FY2025 · 3 of the group
The company paid ₹19 cr to companies in the promoter group last year — about 0.9% of its ₹2,035 cr revenue.
RAHUL DHANUKA
Other payments to them · As per Attached note
also owns 0.44% of the company
₹7 cr
company paid
MAHENDRA KUMAR DHANUKA
Other payments to them · As per Attached note
also owns 0.06% of the company
₹7 cr
company paid
HARSH DHANUKA
Other payments to them · As per Attached note
also owns 0.06% of the company
₹5 cr
company paid

The company also transacted with 2 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.