NSE: DHANUKA | BSE: 507717

Mid-range Performer

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1616.00 -21.50 (-1.31%)

47.98% Gain from 52W Low

20,977 NSE+BSE Volume

NSE 04 Sep, 2025 3:31 PM (IST)

7,284.7

Market Cap

High in industry

1.0

Beta 1Year

Average volatility

Dhanuka Agritech Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for DHANUKA, BSE:507717 Dhanuka Agritech Ltd.

Dhanuka Agritech Ltd.

17 May 2020

1616.00

-1.31%

Sector Update - Watershed moment for Agriculture Sector

Buy: Dhanuka Agritech Ltd.

Target

Prabhudas Lilladhar

interstate trade thereby giving freedom to farmers for selling at an attractive enable much needed formalisation of the sector leading to better pricing of produce, more predictability in cropping pattern and generate better income for farmers. For agri-inputs industry, agriculture reforms do not entail any immediate benefit however they help to enhance long term structural growth. Formulating a Central law for Inter-state trade- Earlier reform measures of the Modi govt (like creating a model law for the states to deregulate marketing of fruits and vegetables, creating an electronic unified national market for agricultural...

Dhanuka Agritech Ltd. has gained 35.71% in the last 6 Months

Dhanuka Agritech Ltd.

12 Mar 2020

1616.00

-1.31%

Monthly Update - Industry sales up 11% in February driven by +28% growth in NPKS sales

Buy: Dhanuka Agritech Ltd.

Prabhudas Lilladhar

Total Industry volume is up 11% to 4.4 mn tons. Urea/NPK/DAP sales are @ 2.5 mn tons/0.8 mn tons/0.5 mn tons, up 3%/28%/26% resp. SSP volumes grew 10% to 0.3 mn tons. Domestic phosphatic fertiliser sales...

Dhanuka Agritech Ltd. has an average target of 1885.67 from 3 brokers.

Dhanuka Agritech Ltd.

13 Feb 2020

1616.00

-1.31%

Q3FY20 Result Update

Buy: Dhanuka Agritech Ltd.

Target

Prabhudas Lilladhar

Dhanuka Agritech reported mixed set of results. Benefits of higher than Change in Estimates | Target | Reco anticipated topline growth of 25% (PLe- 15%) was off-set by continued gross margin contraction (11th straight quarter) of 146 bps. Higher other income (up...

Dhanuka Agritech Ltd. has gained 35.71% in the last 6 Months

Dhanuka Agritech Ltd.

22 Jul 2019

1616.00

-1.31%

Dhanuka Agritec

Buy: Dhanuka Agritech Ltd.

Dolat Capital

Dhanuka agritech reported a muted 1QFY20 performance, Sales/EBITDA grew by 2.8/25.9% YoY to ` 2.19bn/200mn respectively. PAT de-grew by 8.6% YoY to ` 148mn. Results were below our estimates on all fronts. Gross margins continue to be under pressure as rising prices of certain technicals (Cartap Hydrochloride technical for Caldan') could not be passed on. Though gross margins saw a contraction of 110bps YoY to 34.1%, EBITDA margins expanded by 170 bps YoY owing to lower employee costs (down 7.9% YoY) and other expenses (down 7.1% YoY)....

Dhanuka Agritech Ltd. is trading below its 30 day SMA of 1656.0

Dhanuka Agritech Ltd.

03 Apr 2019, 12:00AM

1616.00

-1.31%

After seeing a 370bps yoy contraction at the operating level, we believe that Dhanuka Agr...

Buy: Dhanuka Agritech Ltd.

Emkay

After seeing a 370bps yoy contraction at the operating level, we believe that Dhanuka Agritech (DAGRI) is geared for a 200bps yoy margin recovery along with an acceleration in revenue growth (8%/9% in FY20E/FY21E vs. 2% yoy in FY19). FY18-19 was one of the most unpredictable years for agro-chemical intermediate prices. As a result, the prices of key raw-materials such as metribuzin, lamda, and bifenthrin increased in the range of 150-400%....

Dhanuka Agritech Ltd. is trading below its 30 day SMA of 1656.0

Dhanuka Agritech Ltd.

11 Mar 2019

1616.00

-1.31%

Post Conference Notes

Buy: Dhanuka Agritech Ltd.

Prabhudas Lilladhar

Dhanuka Agritech (DAGRI) maintained that the launch of new products will continue to drive growth for the company in FY20. It is also increasing its distribution reach as newer markets have emerged in the deep interiors of the country. Channel inventory for the industry is 20-30% higher than normal, due to tepid demand. Despite tepid performance we remain bullish on the stock led by 1) 15 product introductions in FY17 and FY18 2) renewed focus on efficient marketing and 3) planned launch of ~5-6 new products in FY20. Additionally, its focus on herbicides (32% of sales) and fungicides (15%)...

Dhanuka Agritech Ltd. has gained 35.71% in the last 6 Months

Dhanuka Agritech Ltd.

13 Feb 2019

1616.00

-1.31%

Dhanuka Agritech reported topline de-growth of 2% yoy to Rs2.1bn in Q3FY19, lower than ou...

Buy: Dhanuka Agritech Ltd.

Recommendation Target

Emkay

Gross margins contracted 670bps yoy to 36.6% on inflated RM cost, which the company was unable to pass on due to poor agronomics. This resulted in an EBITDA margin contraction of 603bps yoy to 9.9% (lower than our estimate of 15.1%). (up 30-40% yoy) for the industry. Dhanuka remains at a comfortable position as they have already taken a sales return of Rs490mn in Q3FY19 and Rs1.0bn in 9MFY19. We cut our EPS estimates by 20%/11% for FY19/20E and introduce FY21 estimates while rolling forward our valuations to FY21E. Maintain Buy and reduce our TP to Rs450 (earlier...

Number of FII/FPI investors increased from 104 to 115 in Jun 2025 qtr.

Dhanuka Agritech Ltd.

14 Nov 2018

1616.00

-1.31%

Dhanuka Agritech (2QFY19): Margin pressure to continue. Maintain BUY

Buy: Dhanuka Agritech Ltd.

Target

HDFC Securities

We maintain Buy with a TP of Rs 715/sh (22x Sep'20 EPS). Dhanuka Agritech (DAGRI) showed a gradual recovery in 2QFY19 after a weak 1QFY19 performance which was marred by higher input costs and inability to pass on RM inflation. Sales/EBITDA/PAT grew by 10.2/0.9/4.2% to Rs 3.8bn/ Rs 756 mn/Rs 550mn respectively.

Number of FII/FPI investors increased from 104 to 115 in Jun 2025 qtr.

Dhanuka Agritech Ltd.

10 Sep 2018

1616.00

-1.31%

Agro-Chemicals (Update): On a recovery mode

Buy: Dhanuka Agritech Ltd.

Target

HDFC Securities

We expect PI and Insecticides to post 3-year earnings CAGR of 13.4% and 13.5% over FY18-21E. We like Dhanuka's asset light business model and anticipate a better 2HFY19 performance. We like Dhanuka (TP:-Rs 723/share, upside of 31%) and PI Industries (TP:-Rs 923/share, upside of 19%) in our coverage universe. As Chinese environmental compliances get stricter, low level of RM inventory in the channels and higher RM costs are likely to pose near-term margin challenges for Indian agro-chemical manufacturers. To reduce dependency on China, Indian crop-protection companies are revisiting their sourcing options.

Number of FII/FPI investors increased from 104 to 115 in Jun 2025 qtr.

Dhanuka Agritech Ltd.

10 Aug 2018

1616.00

-1.31%

Dhanuka Agritech (1QFY19): A weak quarter. Maintain BUY

Buy: Dhanuka Agritech Ltd.

Recommendation Target

HDFC Securities

We maintain Buy with a TP of Rs 700/sh (22x Jun'20 EPS). Dhanuka Agritech (DAGRI) reported muted revenue of Rs 2.1bn (up 2.4% YoY) in 1QFY19, owing to lower change in product mix and inability to pass on RM inflation. Higher RM cost resulted in lower gross margins 35.2% (down 993 bps QoQ, and 240 bps YoY). EBITDA (at Rs 159mn) was largely impacted due to higher RM prices.

Dhanuka Agritech Ltd. has an average target of 1885.67 from 3 brokers.

Is Dhanuka Agritech Ltd. worth buying?

125 Votes:

Buy 80.0%

Sell 8.0%

Hold 12.0%

RESEARCH REPORTS

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