Dhanuka Agritech rallied 3.41% to Rs 1,532 after the company signed an agreement with Bayer AG, Germany, for the acquisition of the crop protection active ingredients, Iprovalicarb and Triadimenol, along with the trademark Melody for Iprovalicarb.
This agreement, signed by the company, is subject to the completion of certain closing actions. The acquisition will help the company expand its business in India and overseas markets, thereby strengthening its global presence. The company will gain the rights to sell these products in India and various countries outside India.Dhanuka Agritech is an agrochemical company. The company has three manufacturing facilities in Rajasthan, Gujarat and J&K with quality testing facilities. The R&D center is located at Gurgaon.
The companys consolidated net profit jumped 15.5% to Rs 117.52 crore in Q2 FY25 as against Rs 101.77 crore in Q2 FY24. Revenue from operations rose 5.9% to Rs 654.28 crore in the quarter ended 30 September 2024.
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