Operational Highlights
- Revenues from Operations stood at ₹356.86 Crores in Q3 FY2021-22 vs ₹295.66 Crores in Q3 FY2020-21.
- EBITDA stood at ₹61.74 Cr with EBITDA margins at 17%
- Q3FY22 revenue split – Specialty Contributed 60% & Generic contributed 40%
Products contribution to revenues
- Insecticides 32%
- Fungicides 19%
- Herbicides 36%
- Others 13%
Geography wise revenues contribution
- North 21%
- South 37%
- East 11%
- West 31%
- Growth is driven by new products and largely driven by herbicides.Volume growth were 18% during the quarter (1.8% for 9MFY22) partly along with price hikes
- Steep increase in prices for few molecules were more than 100% and the incremental pass on are happening deferred basis
- The company has signed MoU with 2 agricultural universities to jointly conduct research in crop protection chemicals
- Focus on expanding portfolio and reaching out on digital platforms
- EBITDA expectation in the range on 18% in FY22
- “Markar” product sales doubled in the year compared to previous year
CIBRC registration approvals for new products:
- Thiophanate Methyl + Kasugamycin, This product is developed jointly in partnership with M/s. Nippon Soda Co Ltd, Japan and M/s.Hokko Chemicals Co. Ltd., Japan.Dhamuka will market this product under the brand name “janet” used mainly in horticulture crops
- Halosulfuron Methyl + Atrazine,This product is developed in collaboration with M/s. Nissan Chemicals Corporation, Japan. Dhanuka will market this molecule under brand name “cornax” herbicide product
- Etofenprox + Diafenthturon,This product is developed in collaboration with M/s. Mitsut Chemicals Ltd, Japan. Dhamuka will market this product under the brand name “Decide” used mainly in cotton and chilli crops
- All these products are expected to be launched in Q1FY23
- Small farmers uses the generic products whereas progressive farmers use specialty products
Capex
- Dahej phase 1 formulation project on track and confident on previous guidance of completion in the March 2022
- Phase 2 will be more into technical intermediates and expected to be completed by the end of 2023 and revenues will start reflecting in 2024