Dharmaj Crop Guard Ltd

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Dharmaj Crop Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Dharmaj Crop Guard Ltd

₹ 239 -3.74%
23 Oct - close price
dharmajcrop.com BSE: 543687 NSE: DHARMAJ
About

Incorporated in 2015, Dharmaj Crop Guard manufactures and deals in pesticides including concessionaires of public health products for pest control, insecticides, herbicide, fertilizers and allied products related to research and technical formulations[1]

Key Points

Business Overview:[1][2]
The company is in the business of agrochemical formulations & active
ingredients and have the business
segments as:
a) Branded Formulations (B2C)
b) Institutional Formulations (B2B)
c) Active Ingredients (B2B)
It manufactures pesticides, weedicides, fungicides, herbicides and serves 700+ customers across 297+ products, including multinationals, large Indian agrochemical companies and small or
regional formulators
The branded portfolio has 121+ products and 449+ SKUs, with 97 new products launched over seven years[3]

Website BSE NSE
  • Market Cap ₹ 812 Cr.
  • Current Price ₹ 239
  • High / Low ₹ 307 / 211
  • Stock P/E 13.5
  • Book Value ₹ 133
  • Dividend Yield 0.00 %
  • ROCE 16.8 %
  • ROE 13.3 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 22.2% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.9% over last 3 years.

* 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.

Peer comparison

Commodities Chemicals Fertilizers & Agrochemicals Pesticides & Agrochemicals

Part of BSE Commodities

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
162 253 123 116 255 311 175 210 367 347 190 234 384
143 222 113 116 228 277 165 206 317 315 182 223 327
Operating Profit 19 31 11 -0 27 34 10 4 51 32 7 11 57
OPM % 12% 12% 9% -0.0% 11% 11% 5% 1.8% 14% 9% 3.9% 4.5% 15%
2 1 0 0 0 0 -0 2 1 0 3 4 1
Interest 1 0 0 2 3 3 3 4 3 4 5 5 3
Depreciation 1 0 1 3 4 5 5 5 5 5 5 5 5
Profit before tax 20 31 10 -5 20 27 2 -3 44 23 1 5 51
Tax % 26% 25% 20% -32% 25% 23% 23% -23% 25% 23% 22% 24% 25%
15 23 8 -3 15 21 1 -2 33 17 1 4 38
EPS in Rs 4.29 6.81 2.29 -1.00 4.46 6.22 0.35 -0.72 9.64 5.13 0.23 1.18 11.26
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
136 193 298 388 524 654 951 1,138 1,155
126 175 267 344 483 591 876 1,036 1,048
Operating Profit 10 18 31 44 41 63 75 102 107
OPM % 8% 9% 10% 11% 8% 10% 8% 9% 9%
1 1 1 2 4 3 2 7 9
Interest 2 2 1 3 2 3 13 17 17
Depreciation 2 2 3 5 5 5 18 19 19
Profit before tax 7 14 28 39 38 57 46 73 80
Tax % 28% 26% 26% 26% 30% 23% 24% 25%
5 11 21 29 27 44 35 55 60
EPS in Rs 3.35 4.36 8.49 11.62 7.95 13.13 10.31 16.18 17.80
Dividend Payout % 0% 0% 0% 1% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 31%
3 Years: 29%
TTM: 9%
Compounded Profit Growth
10 Years: %
5 Years: 22%
3 Years: 28%
TTM: 15%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 0%
1 Year: -20%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 12%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 2 16 16 25 34 34 34 34
Reserves 9 19 40 60 281 326 361 415
20 20 27 37 52 112 116 132
17 37 46 98 65 92 223 260
Total Liabilities 48 93 129 220 432 563 733 841
12 22 39 40 40 312 311 312
CWIP 0 2 1 18 90 2 7 13
Investments 0 0 0 0 0 0 0 0
36 68 89 161 302 249 416 516
Total Assets 48 93 129 220 432 563 733 841

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3 2 13 16 -24 7 39 28
-4 -15 -18 -24 -191 -62 -33 -29
0 12 6 7 214 57 -9 2
Net Cash Flow -0 -1 1 0 -1 3 -3 0
Free Cash Flow 0 -13 -5 -7 -93 -182 9 1
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 50% 32% 64% 59% -30% 33% 58% 39%

Ratios

Standalone / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 46 63 44 81 51 66 95 90
Inventory Days 52 67 68 74 62 66 68 86
Days Payable 44 80 61 108 31 47 96 89
Cash Conversion Cycle 54 49 51 47 81 84 67 87
Working Capital Days 36 20 33 43 56 65 53 56
ROCE % 39% 42% 40% 17% 15% 12% 17%

Insights

In beta
Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Formulation Blended Capacity Utilization
%

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Formulation Manufacturing Capacity
MT
Dealers & Distributors
count
Export Product Registrations
count
Total Product Registrations
count
Retail Touchpoints
count
Active Ingredients Plant Capacity Utilization
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
70.40% 70.40% 70.40% 70.40% 70.40% 70.40% 70.40% 70.40% 70.40% 70.40% 70.40% 70.40%
4.35% 5.50% 6.97% 4.40% 3.77% 4.14% 3.58% 3.09% 3.49% 3.13% 3.13% 3.12%
0.00% 0.14% 0.14% 0.14% 0.90% 0.47% 0.47% 0.47% 0.47% 0.47% 0.50% 0.50%
25.25% 23.95% 22.48% 25.04% 24.92% 24.99% 25.54% 26.03% 25.63% 26.00% 25.97% 25.97%
No. of Shareholders 47,54144,01440,67639,22938,05636,65933,42730,28428,99027,53726,56724,935

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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