Agrichem Sector

Dhanuka Agritech Q3 profit up 8%; revenue rises by 10% to Rs 393 crore

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

Agrichemical exporters expected to clock better growth than domestic peers

Brokerages have a mixed outlook on margin trajectory for the sector

Big agrochem firms may use drones for chemical spraying this kharif season

Industry sources estimate that drones could be used for spraying pesticides and other plant chemicals in around 30,000 acres this kharif season largely as pilot projects

Agrichem exporters may harvest gains better than India-focused players

Higher demand and rising prices likely to help firms like UPL and PI offset input cost pressure

Agrichem firms in the south better placed

Market in these states is expected to grow 15-20 per cent year-on-year