Dhanuka Agritech reported a 5.18% Revenue Growth in Q2FY20
Dhanuka Agritech Limited, one of India’s leading agrochemical formulations companies, listed on the Bombay Stock Exchange of India (BSE: 507717) and National Stock Exchange (NSE: DHANUKA), announced its Q2 and half yearly financial results for FY 2019-20.
The company reported a profit of ₹59.99 crore in the quarter ending September 30, 2019 which is up by 8.25 % as against a profit of ₹55.04 crore in the corresponding period last fiscal.
The performance for the first half-year ending September 2019 was up by 4.62 per cent at ₹74.67 crore in half-year ended September 30, 2019 as against a profit of ₹71.22 crore in the corresponding period last fiscal. EBITDA of the company stands at ₹ 78.19 crore for Q2 FY20.
Speaking on the results and performance of the Company, M.K. Dhanuka, Managing Director, Dhanuka Agritech, said “The Company’s financial performance in Q2 and first half of this year has been satisfactory, with 5.18% growth in turnover. This year we launched three competitive products for paddy, cotton and chilli crops which has seen huge acceptability among farmers. Further, rainfall this year though delayed has been normal, which impacted the sales and our company’s performance.
He further added, “In order to create awareness about increasing spread of spurious agrochemicals Dhanuka Agritech has been organizing seminars for reaching and informing relevant policymakers about the severity of the issue. Further, we are educating farmers about it. By introducing latest products, the company has been working to upgrade farming practices in the country.”