Dharmaj Crop Guard Limited (DHARMAJ) Earnings Call Transcripts
Dharmaj Crop Guard Limited's Latest Earnings Call - Q4 FY2026
In Q4 FY '26, Dharmaj Crop Guard Limited reported revenue of INR 234 crores, an 11% year-on-year increase, while full-year revenue reached INR 1,138 crores, reflecting a robust 20% growth. The company achieved a net profit of INR 55 crores for the year, up 57% YoY, and an EBITDA margin improvement to 9% from 8% in FY '25. Management provided a positive outlook for FY '27, projecting overall top-line growth of 18% to 20%, driven by improved capacity utilization and a return to stronger growth in the Branded Formulations segment.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | INR 1,138 crores (beat) |
| Q4 Revenue | INR 234 crores (beat) |
| Net Profit | INR 55 crores (beat) |
| EBITDA | INR 101 crores (beat) |
| EBITDA Margin | 9% (positive) |
| Return on Capital Employed | 18% (positive) |
Guidance from management
Management expects overall top-line growth of 18% to 20% for FY '27, with a focus on improving capacity utilization and product mix in the Active Ingredients segment.
What management said
So thing is that B2C was [indiscernible] because the technical plant, the two Formulations was only the [indiscernible]. When we started technical plant, technical production has come. That is why we see that B2C overall is growing. Percentage-wise, it's going down. But overall, if you see -- so it was at par only. So last year, we have 3% growth in B2C. Now overall margin side, it should be -- B2B is around 15 to 20...
Herbicide, we already have in our existing plant there. Only thing is that there is a space issue. So what we are doing, we are having a Herbicide formulation plant near our existing plant. So overall, if you see the margin will definitely going to improve. Right now, we are having 8.73 EBITDA margin. That will be improved to double digit in next 2 years.
What analysts pressed on
Analysts expressed concerns about the muted growth in the Branded Formulations segment and the potential impact of increased inventory on cash flow. There were also questions regarding margin compression as the B2B business scales up.
Main topics on the call
- Revenue Growth — Dharmaj reported a full-year revenue of INR 1,138 crores, marking a 20% year-on-year increase. For Q4, revenue was INR 234 crores, up 11% YoY, despite a strong comparative base in Q4 FY '25.
- Profitability Improvement — The company achieved a net profit of INR 55 crores for FY '26, which is a 57% increase compared to the previous year. EBITDA also improved to INR 101 crores, reflecting a 34% growth YoY.
- Branded Formulations Performance — The Branded Formulations segment grew only 3% YoY, attributed to erratic monsoon patterns affecting agrochemical demand. Management expects this segment to return to stronger growth in FY '27.
- Active Ingredients Growth — The Domestic Active Ingredients business saw a significant growth of 37% YoY. Management highlighted the achievement of breakeven at the technical plant as a key milestone.
Read the full Dharmaj Crop Guard Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Dharmaj Crop Guard Limited
Dharmaj Crop Guard Limited (DHARMAJ) is a publicly listed company in the Chemicals industry, within the Materials sector. It trades on NSEI and is based in IN. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 2 calls on record spanning June 3, 2024 to May 29, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 2 Dharmaj Crop Guard Limited earnings call transcripts on record, spanning June 3, 2024 to May 29, 2026. The most recent call on file is dated May 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.
| Quarter | Date | |
|---|---|---|
| Q4 FY2026 | May 29, 2026 | Read transcript → |
| Q4 FY2024 | Jun 3, 2024 | Read transcript → |