Dhanuka Agritech, one of India’s leading agrochemical formulations companies, announced its Q2 and half yearly financial results for FY 2019-20.
The company reported a profit of Rs 59.99 crores in the quarter ending September 30, 2019 which is up by 8.25 percent as against a profit of Rs 55.04 crores in the corresponding period last fiscal.
The performance for the first half-year ending September 2019 was up by 4.62 per cent at Rs 74.67 crores in half-year ended September 30, 2019 as against a profit of Rs 71.22 crores in the corresponding period last fiscal. EBITDA of the company stands at Rs 78.19 crores for Q2 FY20.
Financial Highlights H1 FY2020
|Particulars||H1 FY20||H1 FY19||Growth|
|Turnover (in Rs. Cr)||629.59||607.30||3.54%|
Financial Highlights Q2 FY 2020
|Particulars||Q2 FY 2020||Q2 FY 2019||Growth|
|Turnover (in Rs. Cr.)||406.84||385.75||5.18%|
Speaking on the results and performance of the company, MK Dhanuka, Managing Director, Dhanuka Agritech, said, “The company’s financial performance in Q2 and first half of this year has been satisfactory, with 5.18 percent growth in turnover. This year, we launched three competitive products for paddy, cotton and chilli crops which has seen huge acceptability among farmers. Further, rainfall this year though delayed has been normal, which impacted the sales and our company’s performance.
“In order to create awareness about increasing spread of spurious agrochemicals, Dhanuka Agritech has been organising seminars for reaching and informing relevant policymakers about the severity of the issue. Further, we are educating farmers about it. By introducing latest products, the company has been working to upgrade farming practices in the country,” he further added.