NEW DELHI, 10 JUNE 2020: Haryana based leading agrochemicals formulation company, Dhanuka Agritech Limited (BSE: 507717; NSE: DHANUKA) has recorded a profit after tax (PAT) of INR 141.47 crore for fiscal year 2019-20.
During the same period last year, the company’s net profit was at INR 112.58 crore, the company in the Bombay Stock Exchange (BSE) filing said.
The Company has registered a growth of 11.36 percent in turnover at INR 1120.07 crore, against INR 1005.84 crore recorded during 2018-19.
The company’s EBITDA has registered an increase by 18.82 percent at INR 173.47 crore for 2019-20, as compared to 145.99 percent posted during the last financial year.
Speaking on this, Dhanuka Agritech managing director M K Dhanuka said, “Driven by the focus of winning customers through planned strategies, the Company’s financial performance continued to gain momentum quarter after quarter this year.”
The company has registered 11.36% growth in turnover this year, which shows company’s initiatives have reaped good results. Being an Agro-industry, Govt. allowed us functioning during the COVID-19 pandemic in lockdown 2, and hence the impact of lockdown was not much. The masses realized the importance of farmers and agriculture, Dhanuka added.
Q4 net profit touches INR 39 crore
During the fiscal year, the company's turnover for fourth quarter ended 31 March 2020 was also recorded a growth of 18.09 percent, at INR 227.57 crore, as compared to INR 192.72 crore.
Company's net profit for the quarter ended 31 March 2020 (Jan-March) was up by 45.80 percent at INR 39 crore, as compared 26.75 crore posted during Q4 of 2018-19.
EBITDA for Q4 registered an increase of 38.61 percent at INR 45.78 crore, as compared to INR 33.03 crore.
With this year’s favorable monsoon forecast coupled with a slew of initiatives announced by the government, we are hopeful of much positive performance in the fiscal year 2020-21. At the same time, we will remain committed to improving our product mix, ongoing branding initiatives, and new product offerings, the filing said.
Dhanuka Agritech has always been working towards providing better solutions to farmers and improving their livelihood. We strongly believe that both, Indian agriculture and Indian farmers have a bright future, Dhanuka said adding our company will continue to empower them through such initiatives and help bring prosperity to our farmer friends. The company is working towards farmer’s welfare by strengthening Agri-inputs dealer as a strong extension service provider and for that our “Diploma in Agricultural Extension Service in Input Dealers” (DEASI) program in association with many Agriculture universities stabling new milestone.
The Company keeps adding new products every year through its collaborations and is continuously on the lookout to bring the latest technology to Indian Farmers.
Dhanuka Agritech having pan-India presence with three manufacturing units for supporting farmers in their pursuit for better crop, better farming and better life cater to more than 10 million farmers.
Having a NABL Accredited Laboratories, the company has technical tie-ups with six Japanese and four American companies.
