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(BSE: 507717; NSE: DHANUKA) Q3 FY 2025 - 2026 Earnings Presentation Feb 05, 2026
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Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Dhanuka Agritech Limited (“Dhanuka Agritech” or the Company) future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Dhanuka Agritech undertakes no obligation to publicly revise any forward looking statements to reflect future / likely events or circumstances. 2
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Chairman Message Dhanuka Agritech is a leading Indian agrochemical company. Dhanuka is working with the vision of Transforming India through Agriculture. We have a Pan-India presence in all major states to reach out to more than 10 million farmers with our products and services. Dhanuka’s key focus has been on introduction of novel chemistries and extensive product development distinguishing us from the rest of the industry. With four manufacturing units and 41 warehouses across India, we cater to around 6,500 distributors and 80,000 retailers. Dhanuka has a strong Sales and Marketing team to promote and develop new products. Over last couple of years we have set up, 2 research and technology centers to enhance our focus on innovation and research. One of the centers is focused on applied chemistry and working for establishment of new products and new formulation development. The second laboratory is focused on innovation in process technology for generic and late stage patented products. To support our investments in innovation, we have significantly enhanced our regulatory team to speed up our Indian as well as International registration initiatives, providing us faster access to international markets and quicker introductions of new products. Dhanuka has international collaboration with ten leading global agrochemical companies from Japan, US and Europe, which helps us to introduce the latest technology in India. During this Quarter, Agrochemical demand remained weak due to stressed demand drivers (weather issues, low crop prices), leading to industry-wide volume decline. Farmer interest in purchasing high value products dropped due to lower crop and horticulture prices. South & West India saw sharp demand declines, while East & North remained stable. Indian farmers delayed purchases due to significantly extended rainfall and weaker commodity realizations. Lower farm incomes reduced spending on crop protection products, impacting domestic sales. Further, I am happy to share that we have commercialized the second product from Dahej plant in Q3 FY26. We are working for making Dahej operations EBIDTA positive in FY27 and try to reach 80% capacity utilization of existing plant. Also, we are in the final stages of working for Business plan for MPP-2 and will be concluding the same within this year. I would like to assure our shareholders and other stakeholders that our strategy is well laid out, with continuous extension in rural market penetration, new product introductions, technical manufacturing and international market expansion. We are confident on delivering our long- term objective of achieving double digit CAGR. We consider ourselves responsible towards securing the farmer’s welfare and preserving food security of the nation. We continue to strengthen our association with the Agriculture Universities, Krishi Vigyan Kendras (KVKs) and other critical institutions to impart knowledge and latest technology to the Farmers. 3
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Table of Content Content Page No. Company Overview 5-16 Financial Overview 17-22 4
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Why Dhanuka Agritech? Synthesis plant at Dahej supported by Fully equipped R&D Lab with 30 Chemists to master new chemistry Creating breakthroughs in Chemical Synthesis 41 warehouses, 6,500+ distributors and 80,000+ retailers to service the needs of over 10 million farmers Rural FMCG Play 300+ registrations across Herbicides, Insecticides, Fungicides and Plant Growth Regulators, ~90 Products across all segments Diverse Product Portfolio World’s leading agrochemical companies from the US, Japan and Europe have partnered with Dhanuka Agritech to introduce latest technology to Indian farmlands Global Innovator Tie Ups Focus on margin accretive “9(3) product” portfolio. Target to launch Several new products across all segments including “me-too” over the next two years Robust Pipeline Higher contribution of specialty products, growth in volumes from existing products to drive return ratios Profitable Growth 5
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Field Day Activity Count 6,050 No. of Farmers 1,43,881 6
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Mega Farmer Meeting Activity Count 267 No. of Farmers 18,804 7
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Village Meeting Activity Count 17,155 No. of Farmers 3,59,107 8
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KVK Meeting Activity Count 30 No. of Farmers 876 9
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We proudly represented two projects at the National Convention on Quality Concepts by QCFI and won two Par Excellence Awards, the highest honor of QCFI. “From National Recognition to Global Readiness – Dhanuka at NCQC” 10
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Agri Business Summit 2025 Event: 8th December 2025 Dhanuka with PHDCCI organised Agri Business Summit 2025 where many dignitaries participated with Hon'ble Shivraj Singh Chouhan, Agriculture Minister 11
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Dhanuka organized Farmers' Day: 23rd December 2025 Dr. R.G. Agarwal celebrated Farmers Day at Palwal with 200 Farmers and many Dignitaries like Dr. P K Singh, Agri Comm., DC Palwal, Haryana, etc. 12
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Dhanuka Team Visit BAYER(Germany): 9th-12th December 2025 Dhanuka team visited BAYER head office and manufacturing plant in Germany in December (9th to 12th) 2025 13
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Summit Agro Team Visit: 27th January 2026 Global head of Summit Agro International and delegates from Sumisho Agro India 14
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NISSAN Team Visit: 27th January 2026 NISSAN global head of Agrochemical business 15
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Digital Reach In YouTube, we are considering views instead of Reach Platforms FY 23-24 FY24-25 FY 25-26 Q1 Q2 Q3 Reached As on 31 Dec’25 YouTube 25 L 60 L 69.8 L 100 L 26 L 195.8 L Instagram 289 L 500 L 626 L 940 L 763 L 2329 L LinkedIn 2.17 L 11.6 L 1.5 L 2.5 L 2.8 L 6.8 L Facebook 369 L 500 L 614 L 1584 L 1665 L 3863 L 16
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Q3 FY2025-26 Result Highlights Q3 FY2025-26 vs Q3 FY2024-25 Performance Discussion • REVENUE FROM OPERATIONS: Revenues from Operations stood at Rs. 409.92 Crores in Q3 FY2025-26 vs Rs. 445.27 Crores in Q3 FY2024- 25. • EBITDA: EBITDA stood at Rs. 58.66 Crores in Q3 FY2025-26 vs Rs. 75.56 Crores in Q3 FY2024-25. • PAT: Profit after tax was at Rs.40.00 Crores in Q2 FY2025-26 vs Rs. 55.04 Crores in Q2 FY2024-25. FY 2025-26 Guidance • REVENUE FROM OPERATIONS: Expecting flat • EBITDA: Expecting decline approx. 100bps 445 410 39.95% 39.81% 39.70% 39.75% 39.80% 39.85% 39.90% 39.95% 40.00% Q3 FY 25 Q3 FY 26 Revenue from Operations and Gross Margin 76 59 16.97% 14.31% 12.00% 13.00% 14.00% 15.00% 16.00% 17.00% 18.00% Q3 FY 25 Q3 FY 26 EBITDA and EBITDA Margin 55 40 12.36% 9.76% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% Q3 FY 25 Q3 FY 26 PAT and PAT Margin 17
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Q3 FY2025-26 Revenue Mix (By Geography) Rs. 445 CroreRs. 410 Crore • Well diversified portfolio across key geographies 25% 22% 34% 39% 11% 11% 30% 28% Q3 FY 26 Q3 FY 25 North South East West 18
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Q3 FY2025-26 Revenue Mix (By Segment) Rs. 445 CroreRs. 410 Crore • Well diversified portfolio across business segment 19 28% 30% 21% 20% 37% 35% 14% 15% Q3 FY 26 Q3 FY 25 Insecticides Fungicides Herbicides Others
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Innovation Turnover Index 11.39% 10.00% 14.26% 15.32% 16.55% 16.32% 9M FY21 9M FY22 9M FY23 9M FY 24 9M FY25 9M FY26 New Molecules as a % of Total Revenue 20
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Q3 FY2025-26 Income Statement Particulars (Rs.in Crores) Q3 FY 26 Q3 FY 25 YoY% FY 25 FY 24 YoY% Revenue from Operations 409.92 445.27 (7.94%) 2035.15 1758.54 15.73% COGS 246.74 267.40 (7.73%) 1219.06 1072.19 13.70% Gross Profit 163.18 177.88 (8.26%) 816.09 686.35 18.90% Gross Profit Margin(as a % of sales) 39.81% 39.95% 40.10% 39.03% Employee Benefit Expenses 44.92 42.34 6.09% 172.07 155.36 10.76% Other expenses 59.60 59.98 (0.63%) 227.42 203.55 11.73% EBITDA 58.66 75.56 (22.37%) 416.61 327.44 27.23% EBITDA Margin(as a % of sales) 14.31% 16.97% 20.47% 18.62% Depreciation and amortisation expenses 16.26 13.06 24.50% 55.46 40.56 36.74% EBIT 42.40 62.50 (32.16%) 361.15 286.88 25.89% EBIT Margin(as a % of sales) 10.34% 14.04% 17.75% 16.31% Finance Cost 0.80 1.43 (44.50%) 5.11 3.09 65.37% Other Income 8.12 7.01 15.83% 36.10 34.96 3.26% PBT 49.73 68.08 (26.95%) 392.14 318.75 23.02% Total tax 9.74 13.03 (25.25%) 95.18 79.66 19.48% PAT 40.00 55.04 (27.33%) 296.96 239.09 24.20% PAT Margin(as a % of sales) 9.76% 12.36% 14.59% 13.59% Basic EPS 8.87 12.25 (27.59%) 65.55 52.46 24.95% 21
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Annual P&L Trend: Focus on Profitable Growth Revenue From Operations and Gross Margin EBITDA and EBITDA Margin PAT And PAT Margin 1,120 1,387 1,478 1,700 1,759 2,035 36.5% 38.0% 36.0% 34.0% 39.0% 40.0% FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 173 269 263 279 327 417 15.5% 19.4% 17.8% 16.4% 18.6% 20.5% FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 141 211 209 234 239 297 12.6% 15.2% 14.1% 13.7% 13.6% 14.6% FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 22
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Dhanuka Agritech Limited (CIN: L24219HR1985PLC122802) Global Gateway Towers Near Guru Dronacharya Metro Station, MG Road, Gurgaon -122002, Haryana. Contact No: +91-124-4345000 Email: Investors@dhanuka.com Dhanuka Agritech Limited (CIN: L24219HR1985PLC122802) Global Gateway Towers Near Guru Dronacharya Metro Station, MG Road, Gurgaon -122002, Haryana. Contact No: +91-124-4345000 Email: Investors@dhanuka.com