New Delhi, 07 February, 2017: 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 Q3 financial results for the Quarter and Nine Months ending 31stDecember, 2016.
The Company maintained its growth by registering 18.12% increase in its consolidated Net Profit for the quarter, at Rs. 26.63 crores as against Rs. 22.55 crores for the same period last year. Dhanuka Agritech reported Net Sales of Rs. 209.03 crores for the quarter ended December 31, 2016 compared to Rs. 205.99 crore for Quarter ending December 31, 2015.
Commenting on the results and performance, Mr. Mahendera Kumar Dhanuka, (Managing Director), Dhanuka Agritech Limited said, “Despite 10-15% negative impact on the agriculture sector due to demonetization, Dhanuka has been able to maintain topline equivalent to last year. Our new products have been enthusiastically received by farmers and continue to gain market share. We are well positioned to pursue our strong growth potential and are moving forward with our strong new product pipeline.”
For the nine months period ending December 31, 2016, Dhanuka Agritech recorded net profit of Rs. 95.20 crores against Rs. 78.83 crores in the corresponding period last year. The company’s net sales stood Rs. 718.04 crores for the nine month period ending December 31, 2016 against Rs. 656.66 crores in the corresponding period last year
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 5 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 kind of pets & diseases 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.
Visit: www.dhanuka.com