Small Chemicals

Dhanuka Agritech Ltd.

DHANUKA

₹1688.4

-0.88% (-15.05)

Market Cap

₹7,764 Cr.

P/E

26.15

Dhanuka Agritech Ltd.

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Dhanuka Agritech Ltd. Shareprice

Has the share price of Dhanuka Agritech grown faster than its competition?

Dhanuka Agritech has given lower returns compared to its competitors.
Dhanuka Agritech has grown at ~11.14% over the last 9yrs while peers have grown at a median rate of 25.2%

Is Dhanuka Agritech stock expensive?

Yes, Dhanuka Agritech is expensive.
Latest PE of Dhanuka Agritech is 26.15, while 3 year average PE is 19.3.
Also latest EV/EBITDA of Dhanuka Agritech is 18.73 while 3yr average is 14.89.

View FAQ's On Business

Growth Table

Dhanuka Agritech Ltd.
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	23.69	46.31	33.59	16.12	21.84	27.76	16.86	7.89	11.21	11.17
TTM EPS CAGR	21.50	12.44	13.01	9.61	16.56	18.76	13.69	12.97	8.38	7.02
Sales CAGR	15.73	9.41	11.26	10.05	12.69	12.46	11.06	9.31	10.46	9.92
PAT Margin (Abs Growth)	-0.40	-0.73	-1.42	1.22	2.68	1.35	0.41	0.77	0.36	1.35
PE CAGR	0.31	30.65	18.21	5.88	6.04	7.80	2.96	-4.33	2.55	3.78
CFO CAGR	-1.30	13.56	-16.51	-4.56	58.84	-0.40	11.41	-0.48	2.26	14.96

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Dhanuka Agritech Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	657	715	823	835	932	1,131	1,312	1,405	1,579	1,800
Non Current Assets	198	199	232	229	260	264	352	507	548	652
Net Block	133	138	131	117	117	167	159	165	322	489
Capital Work in Progress	0.05	0.44	0.08	0.99	3.67	7.59	48.35	153	28.25	8.51
Intangible Assets Under Development	—	—	—	—	—	—	—	—	—	—
Long Term Investments	43.24	49.05	89.49	89.78	99.15	90.30	140	159	168	107
Current Assets	450	503	577	594	666	858	955	896	1,026	1,149
Inventory	173	264	205	207	250	296	347	345	418	399
Accounts Receivable	186	184	208	219	242	243	282	339	347	459
Short Term Investments	48.90	17.35	92.51	30.49	59.72	188	196	95.77	71.84	124
Cash & Bank Balances	2.18	4.35	11.44	1.35	26.29	1.48	2.44	4.28	1.31	1.38
Liabilities	657	715	823	835	932	1,131	1,312	1,405	1,579	1,800
Shareholders Funds	480	522	633	642	708	796	960	1,061	1,256	1,403
Share Capital	10.00	9.82	9.82	9.52	9.52	9.32	9.32	9.12	9.12	9.02
Reserves	470	512	624	633	698	787	951	1,052	1,247	1,394
Non Current Liabilities	32.42	45.58	38.71	29.94	27.03	58.99	47.40	46.06	45.12	48.81
Secured Loans	—	—	—	—	—	—	—	—	—	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	—
Current Liabilities	144	148	151	163	198	276	304	298	278	349
Accounts Payable	63.95	56.99	83.01	77.53	113	109	175	175	149	140
Short Term Loans	7.69	7.89	4.72	22.21	7.98	8.36	0.96	3.81	0.47	42.18

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Dhanuka Agritech Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	829	883	963	1,006	1,120	1,387	1,478	1,700	1,759	2,035
Operating Expenses	689	713	796	860	947	1,118	1,214	1,421	1,431	1,619
Raw Material	453	499	445	575	656	821	867	1,034	1,018	1,032
Material Cost (%)	53.83	49.28	52.89	54.95	57.59	56.62	57.95	60.46	55.86	51.71
Employee Cost	82.44	96.91	106	105	105	118	121	126	155	172
Power & Fuel Cost	2.18	2.58	2.70	2.53	2.30	2.26	2.28	2.66	4.59	—
Operating Profit	140	170	166	146	174	269	264	279	328	417
Other Income	12.52	17.51	16.03	21.20	25.09	33.70	33.59	44.76	34.96	36.10
OPM (%)	16.87	19.24	17.27	14.53	15.49	19.41	17.85	16.40	18.63	20.47
Depreciation and Amortisation	5.91	14.85	14.21	12.35	16.36	15.18	16.28	17.61	40.56	55.46
Interest	1.10	1.09	1.05	1.04	1.71	2.85	3.44	3.25	3.27	5.11
Profit Before Tax	145	172	167	154	181	285	278	303	319	392
Tax	38.03	49.67	40.83	41.38	39.18	74.38	68.70	69.22	79.66	95.18
Net Profit	107	122	126	113	141	211	209	234	239	297
Number of shares(Crs)	5.00	4.91	4.91	4.76	4.76	4.66	4.66	4.56	4.56	—
Dividend Payout Ratio(%)	30.30	2.42	21.39	2.54	40.39	4.42	31.22	3.90	26.69	—

TTM Values as of Mar 2025

Cash Flow

Dhanuka Agritech Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	140	63.12	138	13.30	162	231	104	136	134	263
Profit Before Tax	145	172	167	154	181	285	278	303	319	392
Adjustments	-3.23	1.30	5.99	1.28	2.12	-9.70	-5.62	-22.17	15.94	32.58
OCF Before Working Capital	142	173	173	155	183	275	272	281	335	425
Working Capital Changes	30.73	-65.01	5.03	-87.74	15.78	16.86	-102	-71.08	-121	-67.38
Taxes Paid	-33.14	-44.72	-40.32	-54.20	-36.35	-61.04	-65.96	-73.25	-79.42	-94.68
Cash from Investing Activity	-65.62	20.08	-111	63.18	-44.32	-127	-42.60	2.56	-80.89	-143
Net Fixed Assets Purchased	-27.07	-19.34	-6.35	-4.73	-10.38	-12.26	-58.16	-99.92	-88.06	4.85
Fixed Assets Purchased	-31.58	-19.93	-6.48	-6.08	-13.72	-12.62	-59.82	-124	-89.34	—
Fixed Assets Sold	4.52	0.59	0.14	1.35	3.33	0.36	1.66	24.25	1.28	4.84
Investment Purchased	-1,386	—	-112	-8.50	-48.81	-116	-45.80	—	-11.19	—
Investment Sold	1,341	29.27	—	68.06	—	—	9.53	86.96	23.86	14.11
Interest Recieved	3.85	7.47	3.92	7.01	10.96	15.62	12.59	14.82	18.95	22.11
Dividends Recieved	2.25	2.69	3.39	1.60	2.91	—	0.25	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	-75.77	-80.60	-19.60	-86.61	-93.01	-129	-60.80	-137	-56.54	-120
Proceeds From Shares	—	—	—	—	—	—	—	—	—	—
Net Long Term Borrowings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds From Borrowings	—	—	—	—	—	—	—	—	—	—
Repayment From Borrowings	—	—	—	—	—	—	—	—	—	—
Interest Paid	-1.10	-0.99	-0.87	-0.89	-1.56	-2.69	-3.20	-3.12	-3.09	-5.11
Dividend Paid	-55.02	—	-12.76	-17.18	-59.95	—	-46.58	-27.95	-45.58	-27.35
Net Cash Flow	-1.69	2.59	7.08	-10.13	24.75	-24.61	0.87	2.00	-2.97	0.06
Opening Cash & Cash Equivalents	3.87	0.93	3.53	10.61	0.48	25.23	0.61	1.48	3.48	0.51
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	2.18	3.53	10.61	0.48	25.23	0.61	1.48	3.48	0.51	0.57
Net Capex (est)	27.07	19.34	6.35	4.73	10.38	12.26	58.16	99.92	88.06	-4.85
Free Cash Flow (est)	113	43.77	131	8.57	152	219	46.11	36.30	46.40	268

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Dhanuka Agritech Ltd.
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.60	1.93	1.62	2.47	2.38	2.11	2.04	2.00	1.85	2.19
Liquid Assets (Crs)	258	278	239	372	388	417	563	607	551	608
Current Liabilities (Crs)	161	144	148	151	163	198	276	304	298	278
Current Ratio	2.79	3.13	3.41	3.83	3.64	3.37	3.11	3.14	3.01	3.69
Current Assets (Crs)	449	450	503	577	594	666	858	955	896	1,026
Current Liabilities (Crs)	161	144	148	151	163	198	276	304	298	278
Interest Coverage Ratio	50.77	133	158	159	150	107	101	81.78	94.15	98.62
EBIT (Crs)	132	146	173	168	155	182	288	281	306	322
Interest Expenses (Crs)	2.60	1.10	1.09	1.05	1.04	1.71	2.85	3.44	3.25	3.27
Fixed Asset Turnover	7.35	4.74	5.79	6.02	6.47	6.56	6.02	6.32	6.67	3.96
Net Sales (Crs)	785	829	883	963	1,006	1,120	1,387	1,478	1,700	1,759
Fixed Assets (Crs)	107	175	153	160	155	171	231	234	255	445
Cash Conversion Cycle	115	97.87	96.39	89.83	81.72	80.69	73.56	75.52	71.20	78.87
Inventory Days	84.79	73.20	79.70	76.32	66.17	67.00	66.21	74.79	70.25	73.30
Days Receivable	76.63	76.30	67.40	63.69	68.56	67.65	58.89	61.12	63.07	65.89
Days Payable	46.25	51.63	50.70	50.18	53.00	53.96	51.53	60.39	62.12	60.33
Debt to Equity Ratio	0.04	0.02	0.02	0.01	0.03	0.01	0.01	0.00	0.00	0.00
Total Debt (Crs)	16.11	7.69	7.89	4.72	22.21	7.98	8.36	0.96	3.81	0.47
Shareholders Equity (Crs)	412	480	522	633	642	708	796	960	1,061	1,256
Free Cash Flow/Sales (%)	10.78	13.59	4.96	13.64	0.85	13.54	15.77	3.12	2.14	2.64
Free Cash Flow(est) (Crs)	84.60	113	43.77	131	8.57	152	219	46.11	36.30	46.40
Net Sales (Crs)	785	829	883	963	1,006	1,120	1,387	1,478	1,700	1,759
Profitability Ratios
Gross Margin (%)	44.51	46.17	50.72	47.11	45.05	42.41	43.38	42.05	39.54	44.14
Op Profit Margin (%)	16.78	16.87	19.24	17.27	14.53	15.49	19.41	17.85	16.40	18.63
Operating Profit (Crs)	138	152	187	182	167	199	303	297	324	363
Net Sales (Crs)	785	829	883	963	1,006	1,120	1,387	1,478	1,700	1,759
Net Profit Margin (%)	13.51	12.95	13.80	13.11	11.19	12.62	15.18	14.14	13.73	13.60
Net Profit (Crs)	106	107	122	126	113	141	211	209	234	239
Net Sales (Crs)	785	829	883	963	1,006	1,120	1,387	1,478	1,700	1,759
ROCE (%)	30.48	28.55	30.43	25.01	23.06	24.81	33.65	27.89	27.63	24.75
EBIT (Crs)	132	146	173	168	155	182	288	281	306	322
Capital Employed (Crs)	433	513	567	672	672	735	855	1,008	1,107	1,301
Return on Assets (%)	17.86	16.34	17.05	15.34	13.48	15.16	18.62	15.92	16.62	15.14
Net Profit (Crs)	106	107	122	126	113	141	211	209	234	239
Total Assets (Crs)	594	657	715	823	835	932	1,131	1,312	1,405	1,579
ROIC (%)	26.22	22.55	22.42	20.96	17.53	20.99	24.78	21.75	21.56	19.43
Op Profit after Taxes (Crs)	103	98.88	110	115	97.83	123	188	186	201	215
Invested Capital (Crs)	394	439	492	548	558	586	758	856	935	1,108
ROE (%)	25.73	22.34	23.36	19.92	17.53	19.98	26.45	21.75	22.00	19.04
Net Profit Margin (%)	13.51	12.95	13.80	13.11	11.19	12.62	15.18	14.14	13.73	13.60
Asset Turnover ratio	1.32	1.26	1.24	1.17	1.20	1.20	1.23	1.13	1.21	1.11
Equity Multiplier	1.44	1.37	1.37	1.30	1.30	1.32	1.42	1.37	1.32	1.26
Adjusted EPS	78.42	21.45	24.83	25.71	23.66	29.71	45.21	44.85	51.23	52.46
Valuation Ratios
P/E	8.60	27.27	32.11	21.52	16.61	10.89	15.26	15.99	11.93	19.49
Price to Book	2.25	6.09	7.50	4.29	2.91	2.18	4.04	3.48	2.62	3.71
EV/EBITDA	6.71	19.24	20.89	14.86	11.30	7.66	10.63	11.23	8.61	12.85
Dividend Yield (%)	0.67	1.11	0.08	0.99	0.15	3.71	0.29	1.95	0.33	1.37

Quarterly Results

Dhanuka Agritech Ltd.
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	393	371	369	618	403	368	494	654	445	442
Operating Expenses	342	293	325	476	341	288	422	495	370	332
Increase/Decrease in Stock	34.04	-17.20	-65.14	72.22	3.67	-46.35	-48.40	-7.29	65.39	10.88
Raw Material	151	233	229	240	200	231	294	336	171	232
Employee Cost	31.05	28.53	34.09	44.09	40.02	37.16	42.80	46.72	42.34	40.21
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	51.83	77.87	43.61	142	62.16	80.09	71.72	160	75.56	110
Other Income	7.66	14.74	6.64	5.76	7.28	15.28	7.13	10.80	7.01	11.16
Interest	0.77	0.77	0.89	0.76	0.74	0.70	0.83	1.05	1.43	1.79
PBDT	58.72	91.84	49.36	147	68.70	94.67	78.02	169	81.14	119
Depreciation and Amortization	4.46	5.10	4.63	9.88	12.88	13.18	12.28	12.67	13.06	17.45
Profit Before Tax	54.26	86.74	44.73	137	55.83	81.50	65.74	157	68.08	102
Tax	8.19	21.44	11.79	34.93	10.46	22.48	16.85	39.14	13.03	26.16
Profit After Tax	46.07	65.30	32.94	102	45.37	59.02	48.90	118	55.04	75.50
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	46.07	65.30	32.94	102	45.37	59.02	48.90	118	55.05	75.50
Quarterly Ratios
EPS	9.89	14.33	7.23	22.33	9.95	12.95	10.73	26.07	12.21	16.75
Operating Profit Margin	13.18	20.98	11.82	22.91	15.42	21.75	14.53	24.39	16.97	24.83
Net Profit Margin	11.71	17.59	8.93	16.47	11.25	16.02	9.91	17.96	12.36	17.08

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

35.00%

Implied Growth Rate over a 5 year period*

12.00%

Implied Growth Rate over a 10 year period*

5.00%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Dhanuka Agritech Ltd. Financials

How strong is Dhanuka Agritech balance sheet?

Balance sheet of Dhanuka Agritech is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of Dhanuka Agritech increasing or decreasing?

Yes, The net debt of Dhanuka Agritech is increasing.
Latest net debt of Dhanuka Agritech is ₹40.8 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹1.69 Crs.

Is the profitablity of Dhanuka Agritech improving?

Yes, profit is increasing.
The profit of Dhanuka Agritech is ₹297 Crs for TTM, ₹239 Crs for Mar 2024 and ₹234 Crs for Mar 2023.

Does Dhanuka Agritech pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Dhanuka Agritech latest dividend payout ratio is 26.69% and 3yr average dividend payout ratio is 20.6%

How has Dhanuka Agritech allocated its funds?

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Inventory, Short Term Loans & Advances

View FAQ's On Shareholding

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Dhanuka Agritech Ltd.

Dhanuka Agritech Ltd.

Has the share price of Dhanuka Agritech grown faster than its competition?

Is Dhanuka Agritech stock expensive?

How strong is Dhanuka Agritech balance sheet?

Is the debt of Dhanuka Agritech increasing or decreasing?

Is the profitablity of Dhanuka Agritech improving?

Does Dhanuka Agritech pay decent dividends?

How has Dhanuka Agritech allocated its funds?

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