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Dharmaj Crop Guard share price & results

Dharmaj Crop Guard Limited· Chemicals· Commodities

Results to
Jun 2026
Latest analysed call
Q4 FY26
Ownership as of
Sept 2026

Gujarat-based integrated agrochemicals maker spanning active-ingredients (technicals) manufacturing, formulations production, and branded (B2C) plus institutional (B2B) marketing across the crop-protection value chain

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue382 ₹ crore+4.1% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin15.0 %+1.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit38.0 ₹ crore+15.2% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity14.22 %+4.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin0.13 %−0.8 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)8.47 %−25.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

2 of 3 judged targets kept · 9 open · verdicts reflect calls analysed to Q4 FY26.

Dharmaj Crop Guard Limited management guidance track record on Inve: 12 targets tracked across analysed earnings calls (2 achieved, 1 missed, 9 open).

TargetOriginal wordingSaidLatest callVerdict
Topline Growth20% to 25% in all segments
Call transcript, Q4 FY25 · 3 Jun 2025		Q4 FY25Q4 FY26:Achieved 20% YoY revenue growth for FY26 (₹1138 cr), hitting the low end of the 20-25% guidance. However, this was below the refined ₹1150-1200 cr target and branded formulation growth was only 3%, missing the 'all segments' qualifier.
Call transcript, Q4 FY26 · 29 May 2026		Achieved*
Technical Segment RevenueRs. 250 crores to Rs. 260 crores
Call transcript, Q4 FY25 · 3 Jun 2025		Q4 FY25Q4 FY26:Management did not provide the final FY26 revenue figure for the technical plant. They stated the plant achieved PBT breakeven and the domestic active ingredient business grew 37%, but the specific ₹250-260 crore target was not addressed.
Call transcript, Q4 FY26 · 29 May 2026		Ghosted
Brazil Subsidiary RegistrationRegister subsidiary and start business
Call transcript, Q2 FY26 · 17 Nov 2025		Q2 FY26Q4 FY26:No update provided on the Brazil subsidiary registration, which remains on hold as per Q2 FY26 update.
Call transcript, Q4 FY26 · 29 May 2026		Delayed

Source: Inve Guidance Tracker for Dharmaj Crop Guard Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of Dharmaj Crop Guard Limited's 12 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.

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Price

₹250.75 +4.44% · +₹10.65

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −14.6% 1Y

₹220₹240₹260₹280₹300Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 17 Nov 2025Q4 FY26 — 29 May 2026

1Y: ₹293.6 on 24 Oct 2025 → ₹250.75. High ₹300.55 (24 Sept 2026), low ₹215.8 (27 Jan 2026).

Previous close
₹240.1
Market cap
₹817 Cr
52-week range
₹215.8 – ₹300.55
One year
−15.46%
Price to earnings (TTM to Jun 2026)
13.62×
Return on equity (TTM to Jun 2026)
14.22%

Overview

Symbol
NSE:DHARMAJ
Sector
Chemicals
Industry
Commodities
Exchange
NSE
Currency
INR

What Dharmaj Crop Guard Limited does

Based on the company's own presentations, annual report and earnings calls.

Dharmaj Crop Guard manufactures and markets agrochemicals — insecticides, fungicides, herbicides, plant growth regulators and micro-fertilizers — across three verticals: Branded Formulations (B2C, sold through its own dealer/retail network), Institutional Formulations (B2B, bulk supply to domestic and international agrochemical companies), and Active Ingredients/Technicals (B2B, backward-integrated manufacturing of technicals and intermediates used captively and sold externally). It runs a formulations plant at Kerala GIDC, Ahmedabad and a multi-purpose active-ingredients (technicals) facility at Sayakha, Bharuch, commissioned in January 2024. Products reach farmers through a pan-India retail and dealer network and reach institutional/export customers directly.

Segments

  • Branded Formulations (B2C)
  • Institutional Formulations (B2B)
  • Active Ingredients / Technicals (B2B)
Formulations manufacturing capacity
25,500 MT/TPA (Kerala GIDC, Ahmedabad)
Active ingredients / technicals capacity
8,000 MT/TPA (Sayakha, Bharuch — on-stream since Jan 2024)
Retail touchpoints
19,300+
Dealers & distributors
5,300+
States present (Branded/B2C)
24 states with 20 stock depots
Institutional customer base
700+ customers across 41 countries
Founded 2015Headquarters Ahmedabad, Gujarat, IndiaEmployees 800 (FY26) Company website

How the price took the results

close before → close after

Q4 FY26
−1.0%
29 May
Q2 FY26
−2.3%
17 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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