Dhanuka Agritech

Agrichemical firm Dhanuka Agritech on Friday reported an 8 per cent growth in consolidated net profit at Rs 46.07 crore for the quarter ended December on higher income. Its profit stood at Rs 42.52 crore in the year-ago period. The company's revenue rose 10 per cent to Rs 393.37 crore in the third quarter of this fiscal, from Rs 356.86 crore in the corresponding period of the previous year, according to a statement. "Dhanuka had reasonable growth in the top line in spite of the odds in the industry. The climatic conditions were not favorable for insecticide usage. "There was excessive rainfall in the month of October which led to delayed harvesting and delayed sowing of Rabi crops," said M K Dhanuka, Managing Director, Dhanuka Agritech. The insect attack was very less due to which the consumption of insecticide has been impacted, he added. "Overall the prices were declining and the company was having a high-cost inventory. So, we were not able to pass on this high cost to the cons

Dhanuka Agritech Ltd on Monday said its buyback offer for shares worth Rs 85 crore will open on December 26. The buyback will close on January 6, 2023, the company said in a regulatory filing. The company has proposed to buy back 10 lakh shares of face value of Rs 2 each at Rs 850 per share for an aggregate amount of Rs 85 crore through a tender offer process. The board approved the buyback of shares in a meeting held on November 1, 2022.

Agro chemicals firm Dhanuka Agritech Ltd on Tuesday posted a 15.22 per cent jump in consolidated net profit at Rs 73.02 crore for the second quarter ended September, mainly on the back of higher income. The Gurugram-based company had reported a net profit of Rs 63.37 crore in the same quarter previous fiscal, according to a regulatory filing. The company also said its board has approved buying back 10 lakh shares at Rs 850 a share, or up to Rs 85 crore. The buyback would subject to all applicable statutory approvals. Net income increased 23 per cent on a consolidated basis to Rs 548.39 crore in the latest September quarter. In the year-ago period, the same stood at Rs 445.75 crore. Expenses remained higher at Rs 450.42 crore as against Rs 361.41 crore in the year-ago period. The board has fixed November 18 as the record date for the buyback offer. Shares of the company rose 1.51 per cent to Rs 737.70 in afternoon trade on BSE.

According to the technical analyst from Anand Rathi, CSB Bank can rally to Rs 240, while Dhanuka can surge to Rs 790.

Exporters could do better as domestic firms are hit by monsoon delay, inventories

Agro-chemicals firm Dhanuka Agritech Ltd reported a six per cent increase in its consolidated net profit to Rs 42.51 crore for the quarter ended December.

Agro-chemical firm Dhanuka Agritech on Friday reported 17 per cent jump in its consolidated net profit to Rs 70.08 crore for the second quarter this fiscal on strong sales

The stock had hit a 52-week high of Rs 935 on July 20, 2020.

The board of directors of the company is scheduled to meet on July 22, 2020, to consider and evaluate the proposal for buyback of equity shares

These companies reported an increase in revenue and/or profit before tax for the March quarter

The stock hit a 52-week high of Rs 667. It has rallied 15% in the past four trading days, as compared to a 3.9 per cent decline in the S&P BSE Sensex.

Coromandel International, PI Industries may be some of the beneficiaries

The stock was up 2.3% at Rs 744, extending its Thursday's 7% surge on the National Stock Exchange.

The stock rallied 6% to Rs 594 on the BSE in early morning trade.