Dhanuka Agritech

Oct 6 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DHANUKA AGRITECH LTD - GETS TAX DEMAND ORDERS WORTH 555.3 MILLION RUPEES

Source text: [ID:]

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By Surbhi Misra

Sept 23 (Reuters) - India's weak monsoon is prompting farmers to cut spending on pesticides, fertilisers and seeds this year, the chief executive of Tata Chemicals TTCH.NS unit Rallis India RALL.NS said.

The June-September monsoon, which accounts for nearly 70% of the country's annual rainfall, has been erratic this year and remains well below normal, raising concerns about crop yields, rural incomes and food inflation in Asia's No.3 economy.

Monsoon rainfall was 15% below the average, as of September 21, Barclays said this week, adding that rainfall was 18% below normal so far in September and 16% below normal in August.

"When rainfall certainty is very low, farmers tend to save on resources," agrochemicals and seeds firm Rallis India Managing Director and CEO Gyanendra Shukla said in an interview earlier this week.

"Farmers are not very certain of full harvest as they would have anticipated."

Indian farmers typically sow summer crops such as rice, soybeans and cotton from June as monsoon rains arrive, while winter crops including wheat and rapeseed are planted from October after the monsoon retreats.

"There will be compression in the overall use of crop protection products, fertilisers and seed," Shukla said, highlighting how demand for herbicides and fungicides had been particularly weak.

Rallis peers Dhanuka Agritech DHNP.NS and Godrej Agrovet GODE.NS have also blamed erratic monsoon rains for weak demand for crop-protection products.

India's farm input sector is also ripe for consolidation, Shukla said, arguing that low barriers to entry had led to an overcrowded market.

"There are too many players," he said, adding that companies focused on innovation and strong partnerships would be best positioned to withstand intensifying competition.

(Reporting by Surbhi Misra in Bengaluru; Editing by Dhanya Skariachan and Subhranshu Sahu)

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Dhanuka Agritech's board approved an investment of up to ₹200 crore to set up a new pesticide manufacturing unit at Nagpur, Maharashtra, with a proposed capacity of 23,000 tonnes per annum and expected to be operational by March/April 2028. The company posted revenue of ₹461.9 crore for the June quarter, down about 13% from ₹528.3 crore a year earlier, with profit after tax at ₹36.3 crore against ₹55.5 crore. The new facility is intended to bring production closer to its markets in South, East and Central India. The board also sanctioned a loan of up to ₹15 crore to the proposed employee stock benefits trust for implementing the Stock Appreciation Rights Plan 2026.

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Dhanuka Agritech's board approved an investment of up to ₹200 crore to set up a new pesticide manufacturing unit at Nagpur in Maharashtra, with a proposed capacity of 23,000 tonnes a year and operations expected to begin by March or April 2028. For the quarter ended June 30, 2026, revenue from operations fell to ₹462 crore from ₹528 crore a year earlier, while net profit dropped to ₹36 crore from ₹55 crore. The board also sanctioned a loan of up to ₹15 crore to a proposed employee stock benefits trust to administer the company's Stock Appreciation Rights Plan, 2026. The new unit would add to Dhanuka's manufacturing footprint, which includes four formulation plants and the Dahej technical plant in Gujarat commissioned in July 2023. Revenue was ₹2,020 crore in the year to March, with profit after tax of ₹287 crore.

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Dhanuka Agritech's board approved a new pesticide manufacturing unit at Nagpur, Maharashtra, with investment of up to ₹200 crore and planned capacity of 23,000 metric tonnes a year. The plant is expected to be operational by March or April 2028 and is aimed at moving production closer to markets in South, East and Central India. The board also reported weaker first-quarter results, with revenue of ₹461.9 crore for the quarter ended June 30, down about 13% from a year earlier, and net profit of ₹36.3 crore, down about 35%. It sanctioned a further loan of up to ₹15 crore to a trust that will administer the company's stock appreciation rights plan. The company has been expanding backward integration through a technical plant at Dahej and had earlier guided to additional capex of ₹60-70 crore for a second multipurpose plant.

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Aug 3 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DHANUKA AGRITECH LTD - JUNE-QUARTER PROFIT 363 MILLION RUPEES

• DHANUKA AGRITECH LTD- JUNE-QUARTER REVENUE FROM OPERATIONS 4.62 BILLION RUPEES

• DHANUKA AGRITECH LTD - TO INVEST 2 BILLION RUPEES TO SET UP PESTICIDE MANUFACTURING UNIT AT NAGPUR

Source text: ID:nBSE1DwNZL

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May 19 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• MARCH-QUARTER PROFIT 977.7 MILLION RUPEES

• APPROVES BUYBACK OF SHARES UP TO 700 MILLION RUPEES

• APPROVES SHARE BUYBACK OF UP TO 700 MILLION RUPEES

• MARCH-QUARTER REVENUE FROM OPERATIONS 4.83 BILLION RUPEES

• DIVIDEND 2 RUPEES PER SHARE

• TO SET UP SUBSIDIARIES TO SUPPORT GROWTH IN EUROPE AND BRAZIL

Source text: ID:nBSE9b4lB5

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May 14 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DHANUKA AGRITECH LTD - TO CONSIDER PROPOSAL FOR BUYBACK OF FULLY PAID-UP EQUITY SHARES

Source text: ID:nnAZN4SW8KL

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Feb 5 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DEC-QUARTER PROFIT 400 MILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 4.1 BILLION RUPEES

Source text: ID:nBSE9457Cs

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** Shares of Dhanuka Agritech DHNP.NS fall as much as 11.7% to 1,686 rupees

** Stock logs steepest intraday pct loss since March 12

** Dhanuka Agritech posts a 26.5% Y/Y decline in June-qtr profit; rev from ops rises 19.5% Y/Y

** More than 287,875 shares change hands, 2.9x of 30-day avg

** DHNP rated "buy" by 10 analysts on average; median target price is 1,857 rupees – data compiled by LSEG

** Stock up 14% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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** Brokerage HSBC says strong rainfall and sowing trends support positive fundamentals for Indian agrochemical companies in the first half of FY2026

** 2025 monsoon arrived early on May 24, with an initial 31% rainfall deficit but a revival since then has pushed rainfall above average, with overall levels 2% above normal as of June 23

** Brokerage says good monsoon and higher crop sowing expected to boost seed and pesticide consumption

** HSBC maintains 'Buy' on UPL UPLL.NS and Dhanuka Agritech DHNP.NS, 'Hold' on Bayer CropScience BAYE.NS, and 'Reduce' on Rallis India RALL.NS

** YTD, UPL has gained ~29%, Dhanuka Agritech rose ~13%, Bayer CropScience edged up 1.9%, while Rallis India added 3.1%

(Reporting by Yagnoseni Das in Bengaluru)

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May 16 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DHANUKA AGRITECH LTD MARCH-QUARTER CONSOL PROFIT 755 MILLION RUPEES

• DHANUKA AGRITECH LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 4.42 BILLION RUPEES

Source text: ID:nBSE6YYQhr

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Feb 3 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DEC-QUARTER CONSOL PROFIT 550.4 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.45 BILLION RUPEES

Source text: ID:nBSE6MMnJg

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Nov 6 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DHANUKA AGRITECH SEPT-QUARTER CONSOL PROFIT 1.18 BILLION RUPEES

• DHANUKA AGRITECH SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 6.54 BILLION RUPEES

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** Shares of Rallis India RALL.NS rise 11.5% to 359.45 rupees

** Agrochemical firm reports a 19.5% rise in Sept-qtr net profit to 980 million rupees (~$11.7 million) while rev from ops jumps 11.5%

** RALL on track for fourth straight session of gains

** Busiest session for stock since early August; more than 3.6 mln shares change hands, over 11 times the 30-day avg in early trade

** Avg rating of analysts covering RALL at "sell" vs a "buy" rating both for larger peers UPL UPLL.NS and Dhanuka Agritech DHNP.NS

** RALL's median PT is at 250 rupees - LSEG data

** Stock up ~44% so far this year vs a ~3% fall in UPLL and a ~44% rise in DHNP

($1 = 84.0650 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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** Shares of Insecticides (India) Ltd ISIL.NS down 5.9% at 936 rupees

** ISIL announced a buyback of shares worth 500 million rupees (around $6 mln) after market hours on Friday at 1,000 rupees per share

** Buyback price at 0.6% premium to Friday's close to 994.45 rupees

** Rivals Dhanuka Agritech DHNP.NS and Rallis India RALL.NS closed at 1,825.9 rupees (down 0.8%) and 352.4 rupees (up 4.5%) on Friday

** Stock down for third-straight session where it has lost 8.5%

** ISIL trims YTD gains to ~40%

($1 = 83.8800 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Corrects headline and second bullet to say approves opening of tender offer, not approves buyback of shares

** Shares of Dhanuka Agritech DHNP.NS rise 7% to 1,869.44 rupees

** The agro chemical firm approves opening of tender offer for buyback of shares worth up to 1 bln rupees ($11.93 mln) via tender offer route

** All brokerages rating the stock rate it "buy" or higher; median PT is 1,900 rupees - LSEG data

** Including session's gains, DHNP up ~69% YTD

($1 = 83.8275 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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July 30 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• TO CONSIDER BUYBACK OF SHARES

Source text for Eikon: ID:nBSE5B20Zs

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** Shares of Kaveri Seed Company KVRI.NS, Dhanuka Agritech DHNP.NS and Mangalam Seeds MGSL.BO up between 5.7% and 8.6%

** Indian government to provision 1.52 trln rupees ($18.18 bln) for agri- and allied sectors, Finance Minister Nirmala Sitharaman said in budget speech

** KVRI on track to rise in third straight session, if trend holds

** KVRI and DHNP up 64% each YTD, MGSL up 10%

($1 = 83.6180 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

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** Brokerage HSBC downgrades Tata Chemicals TTCH.NS to "reduce" from "hold", flags weak fundamentals in soda ash segment and elevated valuations

** TTCH ends session ~4% lower, extending declines from Friday

** Expect volume- and pricing-led pressure to impact Q4 results for UPL UPLL.NS and Rallis India RALL.NS, leading to 6%-25% rev declines, brokerage says

** Retains "buy" on UPL, "reduce" on RALL; avg rating on UPLL, RALL, TTCH are "buy", "hold" and "sell" respectively - LSEG

** Adds domestic agri-chem companies likely fared better, "prefers" PI Industries PIIL.NS and Dhanuka Agritech DHNP.NS

** Sector to revive in H2CY24 after "disrupted" 2023, led by lower inventory, stable prices - HSBC

** UPLL, RALL, PIIL, DHNP close down between 1.12%-2.6%

(Reporting by Hritam Mukherjee in Bengaluru)

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March 21 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• SIGNED MOU WITH INDIAN COUNCIL OF AGRICULTURAL RESEARCH FOR SCIENTIFIC AND TECHNICAL COOPERATION

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Feb 2 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DECLARED INTERIM DIVIDEND OF 8 RUPEES PER SHARE

• DEC-QUARTER CONSOL PROFIT 453.7 MILLION RUPEES VERSUS 460.7 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.03 BILLION RUPEES VERSUS 3.93 BILLION RUPEES

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** Shares of Dhanuka Agritech Ltd DHNP.NS rises 2.7% to 1,199.90 after hitting an intraday high of 3.3% earlier in the session

** Agro chemical co says it signed a non-binding letter of intent (LoI) with Kimitec Group, Spain to explore various business opportunities including setting up JV in India

** Stock on track to gain after 2 days of losses

** Stock trading above its 200-day simple moving avg since Aug. 2, 2023

** All brokerages rating the stock rate it "buy" or higher; their median PT is 1,060 rupees - 13.8% lower than day's high - LSEG data

** With session's gains, DHNP up ~13.4% YTD; stock gained 48.3% in 2023

(Reporting by Meenakshi Maidas in Bengaluru)

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Jan 24 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• DHANUKA AGRITECH LTD - SIGNED A NON-BINDING LETTER OF INTENT WITH AN OVERSEAS ENTITY NAMED KIMITEC GROUP, SPAIN

• DHANUKA AGRITECH LTD - LOI FOR EXPLORING VARIOUS BUSINESS OPPORTUNITIES INCLUDING SETTING UP OF JOINT VENTURE IN INDIA

Source text for Eikon: ID:nNSE712Nw7

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** Brokerage HSBC expects Indian agro input companies to recover in 2024 following a "disruptive" 2023

** Sector should rebalance over 1H2024 and may see a revival in 2H on less inventory overhang, pesticide prices close to bottoming out, higher crop prices - HSBC

** Brokerage raises PT of Dhanuka Agritech DHNP.NS to 1,200 rupees and of Bayer Cropscience BAYE.NS to 5,600 rupees

** Prefers UPL UPLL.NS, PI Industries PIIL.NS and DHNP, downgrades Rallis India RALL.NS to "reduce" from "hold"

** DHNP rises 1.6%, on track to snap six straight weeks of losses

** BAYE, UPLL, RALL, PIIL gain between 0.4% and 1.4% on Thursday

(Reporting by Hritam Mukherjee)

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Nov 7 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• APPROVED PROVIDING LOAN FACILITY TO DHANUKA LABORATORIES UPTO 500 MILLION RUPEES

• SEPT-QUARTER CONSOL PROFIT 1.02 BILLION RUPEES VERSUS 730.2 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 6.18 BILLION RUPEES VERSUS 5.43 BILLION RUPEES

Source text for Eikon: ID:nBSE6Sfx52

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Aug 9 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

• TRIAL PRODUCTION AT NEW PLANT SITUATED AT DAHEJ, GUJARAT HAS COMMENCED ON AUG 8

Source text for Eikon: ID:nNSE1YRdjm

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Aug 2 (Reuters) - Dhanuka Agritech Ltd DHNP.NS:

SARVEJANA HEALTHCARE PRIVATE LIMITED​

• JUNE-QUARTER CONSOL PROFIT 329.4 MILLION RUPEES VERSUS PROFIT 491.1 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 3.69 BILLION RUPEES VERSUS 3.93 BILLION RUPEES

Source text for Eikon: ID:nBSE2pW9W2

Further company coverage: DHNP.NS

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** Shares of Dhanuka Agritech Ltd DHNP.NS rise as much as 4.5% to 714.9 rupees, their highest since Feb. 1

** Agriculture chemicals company says March-qtr net profit jumped 20% to 653 mln rupees ($7.89 mln), rev from ops rose 16.6%

** Stock trading above its 50-, 100-, and 200-day moving averages, suggesting bullish bias

** Relative strength index (RSI) above 70, indicating it is overbought

** Trading volume at ~152,700 shares, 10.6x the 30-day avg of ~14,400 shares as of 2:10 p.m. IST

** Stock down 1.8% so far this year, trimming losses of 4% up to last close

($1 = 82.74 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru)

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