Dharmaj Crop Guard Limited DHARMAJ NSEINFRA

Basic Materials · Agricultural Inputs · India

https://www.dharmajcrop.com

Dharmaj Crop Guard Limited engages in manufacturing, distributing, and marketing of a range of agro chemical formulations in India. The company's agro chemical formulations include insecticides, fungicides, herbicides, plant growth regulators, micronutrient fertilizers, and antibiotics to the B2C and B2B customers. It also manufactures and sells general insect and pest control chemicals for public and animal health protection applications; and offers crop protection solutions, and agrochemical active ingredients and intermediates. The company exports its products to Latin America, East African countries, the Middle East, and Far East Asia. Dharmaj Crop Guard Limited was incorporated in 2015 and is based in Ahmedabad, India.

Market & Price

Market Cap

₹951.06 Cr

Current Price

₹281.40

High / Low (52W)

₹372.40 / ₹215.80

Beta

0.01

Valuation

Stock P/E

19.72

Industry PE

23.81

Forward P/E

PEG Ratio

Book Value

₹132.40

Price to Book

2.13

P/S

0.84

EV/EBITDA

10.75

Dividend Yield

Profitability & Returns

ROCE

12.21%

ROE

12.96%

ROA

6.46%

Profit Margin

4.80%

Op Margin

2.49%

EPS (Latest Qtr)

₹0.22

EPS (TTM)

₹14.27

Balance Sheet & Liquidity

Debt/Equity

0.29

Quick Ratio

0.87

Current Ratio

1.55

Debt

₹131.90 Cr

Total Assets

₹733.41 Cr

Current Assets

₹411.18 Cr

Working Capital

₹142.54 Cr

Ownership

Promoter Holding

73.64%

Chg in Prom Hold

FII / Inst Holding

0.00%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹1,079.79 Cr

Total Revenue (TTM)

₹1,137.96 Cr

EBITDA

₹100.47 Cr

Free Cash Flow

₹-30.00 Cr

Operating Cash Flow

₹27.61 Cr

Shares Outstanding

₹3.38 Cr

Gross Margin

22.62%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

34.32%

Profit 5Y

6.67%

Revenue (YoY)

11.40%

Earnings (YoY)

PROS

Compounding revenue at 34.3% over 5 years.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

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Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	DHARMAJ Dharmaj Crop Guard Limited NSEINFRA	281.40	19.72	₹951.06 Cr	-	12.21%	12.96%	34.32%	6.67%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	174.51 Cr	208.23 Cr	367.38 Cr	347.26 Cr	189.54 Cr
Cost of Revenue	-	132.97 Cr	189.16 Cr	278.62 Cr	271.61 Cr	146.06 Cr
Gross Profit	-	41.53 Cr	19.07 Cr	88.76 Cr	75.65 Cr	43.48 Cr
Operating Expenses	-	36.70 Cr	17.61 Cr	42.69 Cr	48.64 Cr	41.03 Cr
Operating Income	-	4.84 Cr	1.46 Cr	46.07 Cr	27.01 Cr	2.45 Cr
EBITDA	-	9.46 Cr	3.46 Cr	51.50 Cr	31.83 Cr	10.49 Cr
Interest Expense	-	3.26 Cr	2.08 Cr	3.12 Cr	4.50 Cr	4.64 Cr
Pretax Income	-	1.54 Cr	-3.19 Cr	43.73 Cr	22.54 Cr	97.30 L
Tax Provision	-	36.00 L	-74.10 L	11.14 Cr	5.21 Cr	21.70 L
Net Income	-	1.18 Cr	-2.45 Cr	32.59 Cr	17.33 Cr	75.60 L
Diluted EPS	6.22	0.35	-	9.64	5.13	0.22

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	391.77 Cr	522.45 Cr	652.66 Cr	949.34 Cr
Cost of Revenue	314.27 Cr	431.96 Cr	521.83 Cr	758.25 Cr
Gross Profit	77.50 Cr	90.49 Cr	130.83 Cr	191.09 Cr
Operating Expenses	38.30 Cr	46.73 Cr	71.26 Cr	132.39 Cr
Operating Income	39.20 Cr	43.76 Cr	59.57 Cr	58.70 Cr
EBITDA	46.19 Cr	45.48 Cr	65.96 Cr	75.04 Cr
Interest Expense	2.39 Cr	2.18 Cr	3.04 Cr	11.01 Cr
Pretax Income	38.53 Cr	38.22 Cr	57.49 Cr	45.76 Cr
Tax Provision	9.84 Cr	11.36 Cr	13.11 Cr	10.93 Cr
Net Income	28.69 Cr	26.86 Cr	44.38 Cr	34.83 Cr
Diluted EPS	8.49	9.76	13.13	10.30

Compounded Sales Growth

5 Years:	34.32%
1 Year:	11.40%

Compounded Profit Growth

5 Years:	6.67%
1 Year:	-

Stock Price Performance

1 Year:	+17.31%
6 Months:	+11.31%
3 Months:	+19.64%
1 Month:	+10.00%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	219.54 Cr	432.27 Cr	563.27 Cr	733.41 Cr
Current Assets	155.58 Cr	288.89 Cr	244.34 Cr	411.18 Cr
Cash & Equivalents	95.20 L	42.30 L	3.00 Cr	22.70 L
Inventory	62.88 Cr	72.86 Cr	93.38 Cr	138.49 Cr
Receivables	85.51 Cr	72.71 Cr	118.68 Cr	248.39 Cr
Total Liabilities	134.63 Cr	117.09 Cr	203.90 Cr	339.00 Cr
Current Liabilities	108.90 Cr	83.00 Cr	125.73 Cr	268.64 Cr
Long Term Debt	25.32 Cr	33.51 Cr	76.11 Cr	64.11 Cr
Total Debt	36.93 Cr	52.42 Cr	111.89 Cr	115.56 Cr
Total Equity	84.92 Cr	315.18 Cr	359.37 Cr	394.41 Cr
Shares Outstanding	3.38 Cr	3.38 Cr	3.38 Cr	3.38 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	16.41 Cr	-23.72 Cr	7.38 Cr	38.68 Cr
Investing Cash Flow	-23.86 Cr	-190.98 Cr	-62.02 Cr	-32.90 Cr
Financing Cash Flow	7.45 Cr	214.16 Cr	57.22 Cr	-8.55 Cr
Capital Expenditure	-23.65 Cr	-69.12 Cr	-189.91 Cr	-32.12 Cr
Free Cash Flow	-7.24 Cr	-92.83 Cr	-182.53 Cr	6.56 Cr
Net Change in Cash	-10,000	-52.90 L	2.58 Cr	-2.77 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	19.8%	17.3%	20.0%	20.1%
Operating Margin %	10.0%	8.4%	9.1%	6.2%
Net Margin %	7.3%	5.1%	6.8%	3.7%
ROE %	33.8%	8.5%	12.3%	8.8%
ROCE %	35.4%	12.5%	13.6%	12.6%

Shareholding Pattern

Insiders

73.64%

Institutions

0.00%

Public Float

0.00%

Analyst View

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DHARMAJ · Basic Materials