Thursday, 31 July 2014

Dhanuka Agritech's Net Increases 18 % this Quarter

Dhanuka Agritech Limited’s Net Profits increase by 17.87% to Rs.20.45 Crores for Q1FY 2014-15

New Delhi, July 30, 2014: Dhanuka Agritech Limited, Bombay Stock Exchange (BSE: 507717) and National Stock Exchange (NSE: DHANUKA) listed, one of India’s leading agrochemical formulations Company, today announced its financial results for the Quarter ended June 30, 2014.

Dhanuka has maintained its growth by registering Net Turnover of Rs.172.91 crores for the quarter ended June 30, 2014 as compared to Rs.166.13 crores for the corresponding period last year. The Company has reported 17.87% increase in its Net Profits for the first quarter at Rs.20.45 crores against Rs.17.35 crores for the corresponding quarter of last year.

Commenting on the results and performance, Mr.R.G.Agarwal, Chairman of Dhanuka Agritech Limited said, “The turnover and Net Profits of Dhanuka Agritech Ltd. have grown during the first quarter despite 47% deficient rains till June end. The sale of plant-protection agro-chemicals depends on arrival of monsoon, since agriculture in India is still heavily dependent on monsoon. The season has been delayed by one month due to late arrival of rains. The Company hopes to perform better in second quarter. We are delighted that we have received registrations for two new, scientifically advanced products recently and they will be launched soon for the first time in India, for the benefit of the Indian farmers.

The Company has received first-time registration for two new, exclusive products u/s 9(3) of the Insecticides Act, 1968 from Central Insecticides Board. These are “Mortar” (Insecticide) and “Sakura” (Weedicide). The Company plans to launch its prestigious new product “Sempra” under Section 9(3) for the first time in India before the beginning of Rabi season. It is expected that these technologically advanced, high-efficacy products will contribute to the robust growth of Indian agriculture and food production. Dhanuka has focused on providing value for money, high quality products to Indian farmer, even in interior and remote parts of India.

M/s Dhanuka Agritech Limited manufactures a wide range of agro-chemicals like herbicides, insecticides, fungicides, miticides, plant growth regulators in various forms – liquid, dust, powder and granules. The Company has a pan-India presence through its marketing offices in all major states in India, with a network of more than 8,000 distributors & dealers selling to over 75,000 retailers across India and reaching out to more than 10 million farmers. The Company has technical tie-ups with 3 American and 4 Japanese companies.

Dhanuka Agritech is among the top five companies in India, recognized for branded sales. With more than 200 registrations and 500 active SKUs, the company has the largest market penetration. Dhanuka Agritech currently has 30 offices across India, more than 8,000 dealers and distributors selling to over 75,000 retailers.

Dhanuka’s target customers are primarily farmers. Growth drivers are the intensive marketing network penetrating even the interiors of India, increased farm income, enhanced awareness about the cost-benefit tradeoff of agro-chemicals, highly diverse product range with solution for almost all problems in all crops, innovative marketing strategies and international technical tie-ups. The Company keeps adding new products every year through its collaborations and is continuously on the lookout to bring the latest technology to Indian Farmers.

Dhanuka Agritech Limited, has been listed as among ‘200 Best Under a Billion Companies in Asia Pacific’ for the third time by FORBES magazine in the year 2010, 2011 & in 2013. The company was recently awarded the INC. India Innovative 100 Award: 2013 in recognition of smart innovation for the newly launched product – Lustre and the ‘Inc India 500 India’s fastest growing Companies under INR 1,500 Cr. for three years in succession: FY 2010-11, FY 2011-12 and FY 2012-13.

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