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Dhanuka Agritech

₹1268 -2.6 | 0.2%

Market Cap ₹5779 Cr.

Stock P/E 23.6

P/B 4.7

Current Price ₹1268

Book Value ₹ 270.4

Face Value 2

52W High ₹1427.4

Dividend Yield 0.16%

52W Low ₹ 641.8

Dhanuka Agritech Research see more...

Overview Inc. Year: 1985Industry: Pesticides & Agrochemicals

Dhanuka Agritech Ltd is engaged in formulation and advertising of plant safety agro-chemicals, together with insecticides, herbicides, fungicides and plant growth regulators. The Company's brand portfolio includes over 80 products. The Company offers various product classes, which include Herbicides, consisting of SULTOP, DYNOFOP, CRAZE, WEEDMAR SUPER/WEEDMAR, NOWEED, TARGA SUPER, NABOOD, HOOK, BARRIER and OZONE; Fungicides, consisting of Kasu-B, Sheathmar, Cursor, Vitavax Power, Vitavax Ultra FF, and Hi-Dice; Insecticides, consisting of DUNET, MARKAR, AAATANK, DHAWA GOLD, OMITE, CALDAN four G, CALDAN 50 SP, and AREVA, and Plant Growth Regulators, consisting of DHANUVIT, WETCIT, DHANZYME, DHANZYME GOLD. The Company offers its crop solutions for various plants, together with soybean, paddy, cotton, sugarcane, potato, chilli, brinjal, onion and garlic, tomato, okra, and cabbage and cauliflower. The Company has a community of approximately 8800 vendors/dealers and approximately 80000 shops across India.

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Dhanuka Agritech Share Price

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Dhanuka Agritech Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 439 357 318 393 543 393 371 369 618 403
Other Income 7 7 12 17 6 8 15 7 6 7
Total Income 446 364 330 410 548 401 386 376 624 411
Total Expenditure 357 302 253 341 445 342 293 325 476 341
Operating Profit 89 62 77 68 103 59 93 50 147 69
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 4 4 4 4 4 4 5 5 10 13
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 84 57 72 64 98 54 87 45 137 56
Provision for Tax 21 14 18 15 25 8 21 12 35 10
Profit After Tax 63 43 54 49 73 46 65 33 102 45
Adjustments 0 0 0 0 0 0 0 -0 0 0
Profit After Adjustments 63 43 54 49 73 46 65 33 102 45
Adjusted Earnings Per Share 13.6 9.1 11.7 10.5 15.7 9.9 14.3 7.2 22.3 10

Dhanuka Agritech Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 582 738 785 829 883 963 1006 1120 1387 1478 1700 1761
Other Income 7 5 6 13 18 16 21 25 34 34 45 35
Total Income 589 743 791 841 901 979 1027 1145 1421 1511 1745 1797
Total Expenditure 500 618 653 689 713 796 860 947 1118 1214 1421 1435
Operating Profit 89 125 138 152 187 182 167 199 303 297 324 359
Interest 4 4 3 1 1 1 1 2 3 3 3 4
Depreciation 5 5 6 6 15 14 12 16 15 16 18 33
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 81 116 129 145 172 167 154 181 285 278 303 325
Provision for Tax 16 23 23 38 50 41 41 39 74 69 69 78
Profit After Tax 64 93 106 107 122 126 113 141 211 209 234 245
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 64 93 106 107 122 126 113 141 211 209 234 245
Adjusted Earnings Per Share 12.9 18.6 78.4 21.5 24.8 25.7 23.7 29.7 45.2 44.8 51.2 53.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 15% 15% 12% 11%
Operating Profit CAGR 9% 18% 12% 14%
PAT CAGR 12% 18% 13% 14%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 96% 14% 28% 17%
ROE Average 23% 25% 23% 25%
ROCE Average 30% 33% 30% 31%

Dhanuka Agritech Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 263 332 412 480 522 633 642 708 796 960 1061
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 16 19 21 32 46 39 30 27 59 47 46
Total Current Liabilities 142 166 161 144 148 151 163 198 276 304 298
Total Liabilities 420 517 594 657 715 823 835 932 1131 1312 1405
Fixed Assets 63 67 70 133 138 131 117 117 167 159 165
Other Non-Current Assets 20 44 75 73 74 115 124 148 106 199 345
Total Current Assets 338 407 449 450 503 577 594 666 858 955 896
Total Assets 420 517 594 657 715 823 835 932 1131 1312 1405

Dhanuka Agritech Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 9 5 2 4 1 4 11 0 25 1 1
Cash Flow from Operating Activities 47 33 110 140 63 138 13 162 231 104 136
Cash Flow from Investing Activities -19 -19 -70 -66 20 -111 63 -44 -127 -43 3
Cash Flow from Financing Activities -31 -17 -38 -76 -81 -20 -87 -93 -129 -61 -137
Net Cash Inflow / Outflow -3 -3 2 -2 3 7 -10 25 -25 1 2
Closing Cash & Cash Equivalent 5 2 4 2 4 11 0 25 1 1 3

Dhanuka Agritech Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 12.88 18.62 78.42 21.45 24.83 25.71 23.66 29.71 45.21 44.85 51.23
CEPS(Rs) 13.79 19.59 82.75 22.63 27.86 28.6 26.26 33.15 48.46 48.34 55.09
DPS(Rs) 2.8 4 4.5 6.5 0.6 5.5 0.6 12 2 14 2
Book NAV/Share(Rs) 52.53 66.47 299.38 96.05 106.3 129.05 134.98 148.72 170.94 206.19 232.85
Core EBITDA Margin(%) 12.67 14.54 15.19 15.4 16.98 14.81 12.87 13.95 17.91 16.82 15.5
EBIT Margin(%) 13.04 14.54 15.22 16.13 17.25 14.97 13.65 14.65 19.14 17.92 17.01
Pre Tax Margin(%) 12.5 14.03 14.92 16.01 17.14 14.88 13.56 14.51 18.95 17.7 16.83
PAT Margin (%) 9.97 11.23 12.23 11.82 12.18 11.24 9.91 11.36 14.01 13.32 12.98
Cash Profit Margin (%) 10.67 11.82 12.91 12.47 13.66 12.5 11 12.68 15.02 14.36 13.96
ROA(%) 15.79 19.86 19.09 17.16 17.77 16.41 13.58 15.99 20.41 17.1 17.19
ROE(%) 27 31.29 28.77 24.24 24.32 21.85 17.65 20.94 28 23.78 23.1
ROCE(%) 30.27 36.06 32.98 31.96 33.93 28.79 23.8 26.41 37.86 31.83 30.2
Receivable days 85.24 70.67 76.63 76.3 67.4 63.69 68.56 67.65 58.89 61.12 63.07
Inventory Days 84.31 81.71 84.79 73.2 79.7 76.32 66.17 67 66.21 74.79 70.25
Payable days 56.15 43.73 46.25 51.63 50.7 50.18 53 53.96 51.53 60.39 62.12
PER(x) 9.27 13.6 8.6 27.27 32.11 21.52 16.61 10.89 15.26 15.99 11.93
Price/Book(x) 2.27 3.81 2.25 6.09 7.5 4.29 2.91 2.18 4.04 3.48 2.62
Dividend Yield(%) 2.34 1.58 0.67 1.11 0.08 0.99 0.15 3.71 0.29 1.95 0.33
EV/Net Sales(x) 1.08 1.77 1.18 3.54 4.43 2.81 1.88 1.36 2.32 2.26 1.64
EV/Core EBITDA(x) 7.05 10.4 6.71 19.24 20.89 14.86 11.3 7.66 10.63 11.23 8.61
Net Sales Growth(%) 10.04 26.81 6.32 5.57 6.58 8.98 4.49 11.36 23.87 6.51 15.05
EBIT Growth(%) 11.63 42.94 9.53 10.95 17.89 -2.65 -7.78 17.58 57.92 -2.35 8.87
PAT Growth(%) 12.81 44.51 13.9 1.16 13.57 3.53 -10.78 25.56 48.97 -0.79 11.78
EPS Growth(%) 12.81 44.51 321.16 -72.64 15.75 3.53 -7.97 25.56 52.16 -0.79 14.23
Debt/Equity(x) 0.13 0.12 0.04 0.02 0.02 0.01 0.03 0.01 0.01 0 0
Current Ratio(x) 2.39 2.45 2.79 3.13 3.41 3.83 3.64 3.37 3.11 3.14 3.01
Quick Ratio(x) 1.26 1.18 1.6 1.93 1.62 2.47 2.38 2.11 2.04 2 1.85
Interest Cover(x) 23.9 28.91 50.77 132.67 157.66 159.44 149.68 106.69 101.14 81.78 94.15
Total Debt/Mcap(x) 0.06 0.03 0 0 0 0 0.01 0.01 0 0 0

Dhanuka Agritech Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 70 70 70 70 70 70.18 70.18 70.18 70.18 70.18
FII 4.18 3.67 3.9 3.99 4.04 4.06 3.55 2.21 1.34 1.49
DII 17.05 17.51 17.18 16.64 16.61 16.63 17.24 18.22 18.41 18.9
Public 8.77 8.83 8.92 9.37 9.36 9.13 9.03 9.38 10.06 9.43
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 25%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 60.39 to 62.12days.
  • Stock is trading at 4.7 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Dhanuka Agritech News

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