Dhanuka Agritech reports Q3FY24 net profit at Rs. 45.37 Cr

Date:02-05-2024

• Total revenue stands at Rs. 403.24 crore

• Company declares an interim dividend of 400%

Dhanuka Agritech -- one of the leading agri input companies in India – announced financial results for the third quarter of FY 2023-24 ended December 31, 2023.

Gurugram-headquartered company clocked a net profit of Rs. 45.37 crore during the October-December quarter. The total income of the company stood at Rs. 410.5 crore during Q3FY24.

Financial Performance

(In Rs crore)

Management’s take on Q3FY23 Performance

Commenting on the Q3 performance, Mr. M. K. Dhanuka, Managing Director, Dhanuka Agritech said: Dhanuka has been able to show significant resilience, in this challenging year, where the industry is facing significant headwinds and pressure on both topline and bottomline,

"This year due to continuous decline in prices of generic products ranging from 5% to 40% globally, there is a significant gap in volume growth and value growth. While, the Volume has grown by 8.55%, while the Value has grown by only 2.51% in Quarter 3, representing an overall value reduction of 6% on the entire portfolio," he said.

The company, Dhanuka said, has declared an interim dividend of 400% i.e. Rs. 8/- per equity share having face value of Rs. 2/- per share.

"This will result in total outgo of Rs. 36.47 crores," he said. 

Regarding the full year guidance, he said the company is expecting double digit growth in revenue from Operations.

"Out EBITDA is also likely to grow by 50-100 BPS in the current fiscal compared to the previous year," Dhauka said.

"We have also invested Rs 10 crores in a agritech startup Kisankonnect Safe Food Private Limited," he said.

The startup delivers farm produce directly to customers through its application and farm stores. It works with farmers to grow food sustainably while using its in house technology to deliver customers fresh vegetables and fruits through its delivery channel.