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(BSE: 507717; NSE: DHANUKA) Q2 FY 2026 - 2027 Earnings Presentation Oct 30, 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. Agrochemical sector in India is experiencing a weak and highly subdued earnings season for the second Quarter of FY 2026-27. Performance across major players is impacted by erratic and uneven monsoon rainfall, and persistently high raw material procurement costs. The monsoon rainfall was lower by a sharp 13% with significant regional and monthly variations across key agricultural belts. This has led to compressed volumes and margins across the industry. This weather disturbance significantly disrupted traditional farming cycles, delayed crop-care applications, and led to a marked contraction of consumption at farmer level. Due to the dry weather, performance of herbicides was significantly impacted while Insecticides segment has grown. Despite all these challenges, I am pleased to report that our company delivered resilient performance. Our diversified geographic footprint allowed us to capture demand from regions which had availability of water resources. Further, Our Dahej Plant will hit 70.75% capacity utilization by this financial year end. So, we will be doing capacity expansion within this unit. In addition, the Dahej Plant will also commence manufacturing the products acquired from Bayer AG. At Dhanuka, we continue to believe that sustainable business growth must go hand in hand with farmer prosperity and national food security. Our continued engagement with Agriculture Universities, Krishi Vigyan Kendra’s, and other scientific institutions remains an important part of our farmer education and technology dissemination efforts. I would like to thank all our investors, analysts, business partners, and stakeholders for their continued trust and confidence in Dhanuka Agritech Limited. Wishing you all a very Happy Diwali and Festive season ahead. 3
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Table of Content Content Page No. Company Overview 5-12 Financial Overview 13-18 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 The acquisition of Bayer AG’s renowned fungicide brands marks a key milestone in Dhanuka’s evolution from a domestic agrochemical leader to an emerging global player. With access to 20+ international markets and manufacturing integration through the advanced Dahej technical synthesis facility, Dhanuka is well placed to accelerate export and expand its global business. Global Expansion
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Mega Farmer Meeting for Decide & Lanevo in Chilli 6
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Farmer Meetings- Maharashtra 7
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Van Campaign- Maharashtra 8
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Top 300 Customers Visit- UP 9
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Polin Launch In South 10
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CLI's National Conference 2026 - AI is transforming agriculture: 17th September, 2026 Attended CropLife India’s National Conference 2026, themed: AI for Agriculture Transformation: Driving Efficiency, Sustainability & Farmers’ Prosperity 11
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Mitsui Team Visit: 16th July, 2026 Delegates from Mitsui visited on 16th July, 2026 12
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Q2 FY2026-27 Result Highlights Q2 FY2026-27 vs Q2 FY2025-26 Performance Discussion • REVENUE FROM OPERATIONS: Revenues from Operations stood at Rs. 657.51 Crores in Q2 FY2026-27 vs Rs. 598.25 Crores in Q2 FY2025-26. • EBITDA: EBITDA stood at Rs. 152.97 Crores in Q2 FY2026-27 vs Rs. 136.73 Crores in Q2 FY2025-26. • PAT: Profit after tax was at Rs. 109.22 Crores in Q2 FY2026-27 vs Rs. 93.97 Crores in Q2 FY2025-26. FY 2026-27 Guidance • REVENUE FROM OPERATIONS: Lower Single Digit Growth • EBITDA: Expecting decline approx. 125bps 13 598 658 42.45% 41.18% 40.50% 41.00% 41.50% 42.00% 42.50% 43.00% Q2 FY 26 Q2 FY 27 Revenue from Operations and Gross Margin 137 15322.85% 23.27% 22.60% 22.70% 22.80% 22.90% 23.00% 23.10% 23.20% 23.30% 23.40% Q2 FY 26 Q2 FY 27 EBITDA and EBITDA Margin 94 10915.71% 16.61% 15.20% 15.40% 15.60% 15.80% 16.00% 16.20% 16.40% 16.60% 16.80% Q2 FY 26 Q2 FY 27 PAT and PAT Margin
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Q2 FY2026-27 Revenue Mix (By Geography) • Well diversified portfolio across key geographies 14 Rs. 658 Crore Rs. 598 Crore 31% 28% 29% 32% 12% 13% 28% 27% Q2 FY 27 Q2 FY 26 North South East West
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Q2 FY2026-27 Revenue Mix (By Segment) Rs. 598 CroreRs. 658 Crore • Well diversified portfolio across business segment 15 47% 46% 25% 29% 8% 9% 20% 16% Q2 FY 27 Q2 FY 26 Insecticides Fungicides Herbicides Others
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Innovation Turnover Index 16 12.75% 13.29% 14.93% 13.93% 16.14% 12.84% FY23 FY24 FY25 FY26 H1 FY26 H1 FY27 New Molecules as a % of Total Revenue
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Q2 FY2026-27 Income Statement Particulars (Rs.in Crores) Q2 FY 27 Q2 FY 26 YoY% FY 26 FY 25 YoY% Revenue from Operations 657.51 598.25 9.91% 2019.79 2035.15 (0.75%) COGS 386.74 344.30 12.33% 1206.45 1219.06 (1.03%) Gross Profit 270.77 253.95 6.62% 813.34 816.09 (0.34%) Gross Profit Margin(as a % of sales) 41.18% 42.45% 40.27% 40.10% Employee Benefit Expenses 53.04 47.85 10.85% 189.83 172.07 10.32% Other expenses 64.76 69.36 (6.63%) 220.03 227.42 (3.25%) EBITDA 152.97 136.73 11.88% 403.48 416.61 (3.15%) EBITDA Margin(as a % of sales) 23.27% 22.85% 19.98% 20.47% Depreciation and amortisation expenses 14.91 16.26 (8.30%) 64.22 55.46 15.80% EBIT 138.06 120.47 14.60% 339.26 361.15 (6.06%) EBIT Margin(as a % of sales) 21.00% 20.14% 16.80% 17.75% Finance Cost 0.76 0.82 (7.32%) 3.71 5.11 (27.40%) Other Income 9.17 6.32 45.09% 43.01 36.10 19.14% PBT 146.47 125.97 16.27% 378.56 392.14 (3.46%) Total tax 37.25 32.00 16.41% 91.33 95.18 (4.04%) PAT 109.22 93.97 16.23% 287.23 296.96 (3.28%) PAT Margin(as a % of sales) 16.61% 15.71% 14.22% 14.59% Basic EPS 24.43 20.85 17.12% 63.72 65.55 (2.79%) 17
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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 18 269 263 279 327 417 403 19.4% 17.8% 16.4% 18.6% 20.5% 20.0% FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 211 209 234 239 297 287 15.2% 14.1% 13.7% 13.6% 14.6% 14.2% FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 1,387 1,478 1,700 1,759 2,035 2,020 37.8% 36.5% 34.0% 39.0% 40.1% 40.3% FY 21 FY 22 FY 23 FY 24 FY 25 FY 26
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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