New Delhi, 11 August, 2016: Dhanuka Agritech Limited, Bombay Stock Exchange (BSE: 507717) and National Stock Exchange (NSE:DHANUKA) listed, one of India’s leading Agrochemical formulations Company, today announced its financial results for the quarter ended June 30, 2016.
The company maintained its growth by registering 10 % increase in its net sales of Rs.198.40 crores for the quarter ended June 30, 2016 compared to Rs. 180.41 crores in quarter ended June 30, 2015.
Dhanuka Agritech reported net profit for the quarter at Rs. 19.35 crores as against Rs18.56 crores for the same period last year.
Commenting on the results and performance, Mr. Mahendra Kumar Dhanuka, Managing Director, Dhanuka Agritech Limited said, “Dhanuka Agritech continues to achieve growth during this quarter as well. Despite delayed monsoons, we have achieved moderate sales growth. South and North zones are our key markets and have done well in this quarter.”
He further added, “Even today, India is heavily dependent on monsoons and so is the sale of plant protection chemicals. The last two years saw deficient rainfall. However, this year, there has been above normal monsoon in most parts of the country in the month of July & sowing & sales of Agro-Chemicals have picked up form July onwards. We are confident that the second quarter will be a bumper quarter for Agri Input Companies as well as for Dhanuka.”
The Company has recently introduced MAXX-SOY, a complete weed management solution for Soybean crop. MAXX-SOY effectively controls both type of weeds i.e. monocot as well as dicot and comes in a packaged combo of three products-MAXX-SOY, MAXX-ME & MAXX-WET. Dhanuka has over 1,500 trained Dhanuka Doctors working as free consultants to farmers, who disseminate knowledge to increase yield per hectare and bring world class technology to Indian farmlands.
For years Dhanuka Agritech Limited (DAL) has been at the forefront of educating and spreading awareness about the right & judicious use of agro-chemicals. The company has recently launched a series of 6 commercials, depicting the farmer’s belief in astrologers and clairvoyants for predicting future cultivation and dependence on God for protecting their crops from destruction. The commercials portray Mr. Amitabh Bachchan as a rural man who guides the farmers to use the products including Dhanzyme Gold, MAXX-SOY, Mortar, Sakura and Cover on various crops.
About M/s Dhanuka Agritech Limited:
M/s Dhanuka Agritech Limited manufactures a wide range of farm input products to support the farmer in his pursuit for better crop, better farming and better life. The Company has a pan-India presence through its marketing offices in all major states in India, with a network of more than 8,800 distributors & dealers selling to approx. 80,000 retailers across India and reaching out to more than 10 million farmers. The Company has technical tie-ups with 4 American and 4 Japanese companies.
Dhanuka Agritech is among the top five companies in India, in Brand sales. With more than 200 registrations and 500 active SKUs, the company has one of the largest market penetrations. Dhanuka Agritech currently has 30 Branch offices across India and 48 warehouses.
Dhanuka is a preferred Brand among progressive farmers. Growth drivers are the intensive marketing network penetrating even the interiors of India, increased farm income, enhanced awareness about the cost-benefit ratio of agro-chemicals, highly diverse product range with solution for almost all problems in all crops, innovative marketing strategies and international technical tie-ups. 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.
Bollywood Superstar Shri. Amitabh Bachchan continues to endorse Dhanuka’s products as Brand Ambassador of the Company.