Dharmaj Crop

NSE: DHARMAJ · Pesticides & Agrochemicals

52W Range₹211 ₹387

Snapshot

Unlock Dharmaj Crop's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Dharmaj Crop Guard Limited is an Indian agrochemical company engaged in the manufacturing, distribution, and marketing of insecticides, fungicides, herbicides, and plant growth regulators. The company serves both B2B and B2C markets while also providing pest control solutions for public and animal health.

Business Model

The company generates revenue through the sale of diverse agrochemical formulations and technical-grade products. It operates through a dual-channel approach, catering to domestic agricultural needs and international markets across Latin America, Africa, the Middle East, and Asia.

Growth Outlook

Growth is driven by the expansion of its product portfolio and the strengthening of its international footprint in emerging markets. The company continues to leverage its manufacturing capabilities to capture demand in both the domestic and export segments.

Key Risks

  • Regulatory Risk. The agrochemical industry is subject to stringent environmental and safety regulations that can impact product approvals and manufacturing operations.
  • Monsoon Dependency. As an agrochemical manufacturer, the company's domestic sales are highly sensitive to the quality and distribution of the annual monsoon season in India.
  • Raw Material Price Volatility. Fluctuations in the prices of key chemical intermediates and raw materials can significantly impact the company's operating margins.
  • Geopolitical and Currency Risk. Exporting to diverse international markets exposes the company to geopolitical instability and foreign exchange rate fluctuations.

Price

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Key Metrics

P/E

16.1x

Q4 FY26 · consolidated

16.1 vs 20.0x5Y avg

NET PROFIT MARGIN

1.7%

Q4 FY26 · consolidated

+2.9 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

+0.00xYoY

Peers · Pesticides & Agrochemicals

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Dharmaj CropDHARMAJ
78516.099.6%13.4%18.8%-23.3%
Astec LifesciencASTEC
1,198-18.09-5.7%0.1%-29.6%-9.3%-24.1%
Meghmani Organi.MOL
1,08541.454.5%12.6%1.9%8.3%-53.9%
Heranba IndsHERANBA
700-9.4913.1%4.8%-9.4%-2.3%-53.3%
Advance AgrolifeADVANCE
57416.4310.5%11.4%17.1%
Best AgrolifeBESTAGRO
4920.61-30.7%16.0%11.0%19.6%-96.4%

As of Q4 FY26

Financials