Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹409.92 Cr
verification pending
Revenue YoY
-7.94%
reported change
EBITDA
₹58.6 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Dhanuka Agritech reported a weak Q3 FY26 with revenue of ₹409.92 crore (down 7.9% YoY), EBITDA of ₹58.6 crore (down 22.4% YoY), and PAT of ₹40 crore (down 27.3% YoY). The decline was driven by stressed farmer incomes, extended rainfall, and lower crop prices, particularly impacting South and West India. The company also faced a ₹15 crore revenue hit from regulatory issues on bio-stimulants and lower sales of Bayer-acquired products. Management guided for flattish full-year revenue and expects EBITDA margin contraction of 100-110 bps for FY26. Positives include a strong start to Q4, three new product launches lined up for FY27, and progress on the Dahej plant targeting 80% capacity utilization. Key risks include delayed bio-stimulant approvals and potential El Niño impact on the kharif season.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects full-year revenue to be flattish YoY, with Q4 showing growth but not enough to offset earlier declines.
- Management expects full-year EBITDA margin to decline by 100-110 basis points compared to FY25.
- The Dahej plant is expected to achieve 80% capacity utilization in FY27 with three products (bifenthrin, defenoconazole, and a new product).
- Dhanuka plans to launch three new products in FY27, including two fungicides (first-time introductions) and a spray efficiency enhancer.
Risks flagged
- Approvals for three bio-stimulant products are expected by end of Q4 FY26; any delay could impact Q1 FY27 sales, as peak season starts in July.
- Early El Niño predictions could affect monsoon rains and farmer incomes, potentially reducing demand for agrochemicals in the kharif season.
- Transition of Bayer products to Dhanuka's control involves regulatory and supply chain dependencies; any disruption could affect sales.
- Inventory of imported molecules increased due to lower-than-expected sales, potentially leading to higher carrying costs or write-downs.
Key quotes
- I can assure the stakeholders that the bad phase is over now and now in future it is going to be good only.
- We are looking into a good harvest of Rabi and then getting into a good kharif.
- The success of any law depends on how well it gets executed where the center and the states will have to collaborate to ensure that the execution is in the spirit of the letter.
Research modules