Dharmaj Crop Guard
DHARMAJ NSE
Dharmaj Crop Guard
ChemicalsNSE: DHARMAJ BSE: 543687 Pesticides & Agrochemicals
Key Fundamentals
MicrocapPesticides & AgrochemicalsChemicalsMarket Cap
₹899 Cr
Volatility
Moderate
P/E Ratio
15.13
EBITDA
₹109 Cr
Return on Equity
12.17%
Debt to Equity
0.29
Book Value
₹132.86
52W High
₹368.3
52W Low
₹210.65
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has delivered good profit growth of 22.2% CAGR over last 5 years
Weaknesses
2- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 11.9% over last 3 years.
Growth Rate
Revenue Growth
20.26% lower than
3Y
Net Income Growth
56.9% higher than
3Y
Cash Flow Change
-28.62% lower than
3Y
ROE
37.83% higher than
3Y
ROCE
39.3% higher than
3Y
EBITDA Margin (Avg.)
17.6% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 162 | 253 | 123 | 116 | 255 | 311 | 175 | 210 | 367 | 347 | 190 | 234 | 384 |
| Expenses | 143 | 222 | 113 | 116 | 228 | 277 | 165 | 206 | 317 | 315 | 182 | 223 | 327 |
| Operating Profit | 19 | 31 | 11 | 0 | 27 | 34 | 10 | 4 | 51 | 32 | 7 | 11 | 57 |
| OPM % | 12% | 12% | 9% | 0% | 11% | 11% | 5% | 1.8% | 14% | 9% | 3.9% | 4.5% | 15% |
| Other Income | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 0 | 3 | 4 | 1 |
| Interest | 1 | 0 | 0 | 2 | 3 | 3 | 3 | 4 | 3 | 4 | 5 | 5 | 3 |
| Depreciation | 1 | 0 | 1 | 3 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| PBT | 20 | 31 | 10 | -5 | 20 | 27 | 2 | -3 | 44 | 23 | 1 | 5 | 51 |
| Tax % | 26% | 25% | 20% | -32% | 25% | 23% | 23% | -23% | 25% | 23% | 22% | 24% | 25% |
| Net Profit | 15 | 23 | 8 | -3 | 15 | 21 | 1 | -2 | 33 | 17 | 1 | 4 | 38 |
| EPS in Rs | 4.29 | 6.81 | 2.29 | -1 | 4.46 | 6.22 | 0.35 | -0.72 | 9.64 | 5.13 | 0.23 | 1.18 | 11.26 |
Profit & Loss
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 136 | 193 | 298 | 388 | 524 | 654 | 951 | 1,138 | 1,155 |
| Expenses | 126 | 175 | 267 | 344 | 483 | 591 | 876 | 1,036 | 1,048 |
| Operating Profit | 10 | 18 | 31 | 44 | 41 | 63 | 75 | 102 | 107 |
| OPM % | 8% | 9% | 10% | 11% | 8% | 10% | 8% | 9% | 9% |
| Other Income | 1 | 1 | 1 | 2 | 4 | 3 | 2 | 7 | 9 |
| Interest | 2 | 2 | 1 | 3 | 2 | 3 | 13 | 17 | 17 |
| Depreciation | 2 | 2 | 3 | 5 | 5 | 5 | 18 | 19 | 19 |
| PBT | 7 | 14 | 28 | 39 | 38 | 57 | 46 | 73 | 80 |
| Tax % | 28% | 26% | 26% | 26% | 30% | 23% | 24% | 25% | — |
| Net Profit | 5 | 11 | 21 | 29 | 27 | 44 | 35 | 55 | 60 |
| EPS in Rs | 25.1 | 6.54 | 12.74 | 11.62 | 7.95 | 13.13 | 10.31 | 16.18 | 17.8 |
| Div. Payout % | 0% | 0% | 0% | 1% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 16 | 16 | 25 | 34 | 34 | 34 | 34 |
| Reserves | 9 | 19 | 40 | 60 | 281 | 326 | 361 | 415 |
| Borrowings | 20 | 20 | 27 | 37 | 52 | 112 | 116 | 132 |
| Other Liabilities | 17 | 37 | 46 | 98 | 65 | 92 | 223 | 260 |
| Total Liabilities | 48 | 93 | 129 | 220 | 432 | 563 | 733 | 841 |
| Fixed Assets | 12 | 22 | 39 | 40 | 40 | 312 | 311 | 312 |
| CWIP | 0 | 2 | 1 | 18 | 90 | 2 | 7 | 13 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 36 | 68 | 89 | 161 | 302 | 249 | 416 | 516 |
| Total Assets | 48 | 93 | 129 | 220 | 432 | 563 | 733 | 841 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | 3 | 2 | 13 | 16 | -24 | 7 | 39 | 28 |
| Investing | -4 | -15 | -18 | -24 | -191 | -62 | -33 | -29 |
| Financing | 0 | 12 | 6 | 7 | 214 | 57 | -9 | 2 |
| Net Cash Flow | 0 | -1 | 1 | 0 | -1 | 3 | -3 | 0 |
| Free Cash Flow | 0 | -13 | -5 | -7 | -93 | -182 | 9 | 1 |
| CFO/OP | 50 | 32 | 64 | 59 | -30 | 33 | 58 | 39 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 63 | 44 | 81 | 51 | 66 | 95 | 90 |
| Inventory Days | 52 | 67 | 68 | 74 | 62 | 66 | 68 | 86 |
| Days Payable | 44 | 80 | 61 | 108 | 31 | 47 | 96 | 89 |
| Cash Conversion Cycle | 54 | 49 | 51 | 47 | 81 | 84 | 67 | 87 |
| Working Capital Days | 36 | 20 | 33 | 43 | 56 | 65 | 53 | 56 |
| ROCE % | — | 39% | 42% | 40% | 17% | 15% | 12% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Dharmaj Crop Guard insights
58 extracted metrics + investor summaries across FY19–FY27.
Documents
1
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
25 Apr - Company says it is not a Large Corporate under SEBI debt circular as on March 31, 2026. 25 Apr - Company says it is not a Large Corporate under SEBI debt circular as on March 31, 2026.
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
12h - Company says it is not a Large Corporate under SEBI debt circular as on March 31, 2026. 12h - Company says it is not a Large Corporate under SEBI debt circular as on March 31, 2026.
3
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
4 Apr - Filed Regulation 74(5) compliance certificate for quarter ended 31 March 2026. 4 Apr - Filed Regulation 74(5) compliance certificate for quarter ended 31 March 2026.
4
Announcement under Regulation 30 (LODR)-Credit Rating
3 Apr - CRISIL reaffirmed then withdrew ratings for Rs.237.85 crore bank facilities; BBB+/Stable and A2. 3 Apr - CRISIL reaffirmed then withdrew ratings for Rs.237.85 crore bank facilities; BBB+/Stable and A2.
5
Closure of Trading Window
25 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited Q4 and year-ended Mar 31, 2026 results. 25 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited Q4 and year-ended Mar 31, 2026 results.
Frequently Asked Questions about Dharmaj Crop Guard
What does Dharmaj Crop Guard Ltd do?
Incorporated in 2015, Dharmaj Crop Guard manufactures and deals in pesticides including concessionaires of public health products for pest control, insecticides, herbicide, fertilizers and allied products related to research and technical formulations[1]
Where is Dharmaj Crop Guard Ltd (DHARMAJ) listed?
Dharmaj Crop Guard Ltd trades as DHARMAJ on the NSE and under code 543687 on the BSE.
Which sector does Dharmaj Crop Guard Ltd belong to?
Dharmaj Crop Guard Ltd is classified under the Chemicals sector, in the Pesticides & Agrochemicals industry.
What is the market capitalisation of Dharmaj Crop Guard Ltd?
Dharmaj Crop Guard Ltd has a market capitalisation of ₹898.67 Cr, which places it in the Small Cap band.
What is the PE ratio of Dharmaj Crop Guard Ltd?
Dharmaj Crop Guard Ltd trades at a PE ratio of 15.13, against a book value of ₹132.86 per share.
What is the 52-week high and low of Dharmaj Crop Guard Ltd?
Over the last 52 weeks Dharmaj Crop Guard Ltd has traded between ₹210.65 and ₹368.3.
What is the Return on Equity (ROE) of Dharmaj Crop Guard Ltd?
Dharmaj Crop Guard Ltd reported a return on equity of 12.17%. Its debt-to-equity ratio is 0.29.
Company Information
Incorporated in 2015, Dharmaj Crop Guard manufactures and deals in pesticides including concessionaires of public health products for pest control, insecticides, herbicide, fertilizers and allied products related to research and technical formulations[1]
Website dharmajcrop.com
CEO Mr. Rameshbhai Ravajibhai Talavia
Employees 671
Listed 2022-12-08
Face Value ₹ 10
Issued Size 3,37,97,296
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