Dhanuka Agritech Q4 profit grows 20% to Rs 65.30 cr; revenue up 17%

Agrochemical firm Dhanuka Agritech on Thursday reported a 20 per cent increase in consolidated net profit to Rs 65.30 crore for the quarter ended March 2023 on higher income.

Its net profit stood at Rs 54.40 crore in the year-ago period.

The total revenue rose to Rs 385.97 crore in the fourth quarter of the last fiscal from Rs 330.48 crore in the preceding year, according to a regulatory filing.

Net profit increased to Rs 233.50 crore in the 2022-23 fiscal from Rs 208.89 crore in FY22.

Its total revenue surged to Rs 1,744.97 crore in the last fiscal from Rs 1,511.36 crore.

"Dhanuka Agritech has achieved a turnover of Rs 1,700 crore first time in its history. The net profits are Rs 233 crore, which is the highest since the inception of the company. This achievement is commendable despite all odds," Dhanuka Agritech Vice Chairman and Managing Director MK Dhanuka said in a statement.

He said the rainfall was erratic in Karif and Rabi seasons.

"The pest infestation was also low due to which many sprays were missed out by the farmers. Despite these factors, the company was able to post good figures," he added.

"Although the sky met is forecasting El Nino for the current season. We hope there is no major impact on the consumption of the products. We expect double-digit volume growth in this financial year," Dhanuka noted.

Dhanuka Group has three manufacturing units located in Gujarat, Rajasthan and Jammu & Kashmir.