New Delhi, 06 November, 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 Q2 financial results for the Quarter and Half-year ended September 30, 2014. The company maintained its growth by registering 30.20% increase in its net profit for the quarter ended September 30, 2014 at Rs.41.73 crores as against Rs.32.05 crores for the same period last year.
The revenue of the Company for the Q2 of 2015 stood at Rs.283.26 crores as against Rs.253.44 crores for the same quarter last year, up by 11.77%. The company registered growth in its net profit of 30.20% during Q2FY15, compared to 35.29% in the same period of the preceding year.
Commenting on the performance of the Company, Mr.M.K.Dhanuka, Managing Director, Dhanuka Agritech Limited said, “During this quarter, despite the weak rainfall, Dhanuka Agritech has achieved growth in its turnover and net profits. Our key products continue to perform well and gain market share. We are well positioned to pursue our strong growth potential and are moving forward with introducing our new products. ‘Mortar’, a new 9(3) registered product that has been developed in-house was launched for the first time in India, in this quarter.”
The Company has also launched ‘Oxykill’ a highly effective weedicide, that can be used on Onion crop for control of various weeds.
For the first six months of this fiscal, Dhanuka Agritech recorded net profit of Rs.62.18 crores against Rs.49.40 crores in the corresponding period last year, a growth of 25.87%. Net revenue of the company for the six months ended September 30, 2014 stood at Rs.458.06 crores compared to Rs.419.63 crores in the same period in previous fiscal, up by 9.16%.
About M/s Dhanuka Agritech Limited:
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 ratio 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 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 two years in succession: FY 2010-11 and FY 2011-12.
The company has recently bagged a place in the prestigious list of India’s exemplary Companies: INC. INDIA - HALL OF FAME– 2014 & also received FICCI Chemicals and Petrochemicals Award for BEST CONTRIBUTION TO ACADEMIA in October, 2014.