Dharmaj Crop Guard Ltd Q4 FY26 Results

Summary

Dharmaj Crop Guard Limited delivered a strong all-around financial performance for FY26, with revenue growing 20% year-on-year to ₹11,380 million, and Q4FY26 revenue increasing by 11% to ₹2,338 million. Profitability saw a notable improvement, as full-year EBITDA rose 34% to ₹1,005 million and Net Profit climbed 57% to ₹547 million. Q4FY26 EBITDA margins significantly improved to 5% from 2% in the prior year, attributed to better contribution margins. The company also successfully broke even at the PBT level for its Technicals unit, a key strategic objective. Management expressed a positive growth outlook for the coming year, confident in navigating ongoing disruptions.

Key Highlights

1. 1

   Dharmaj Crop Guard Limited achieved a 20% year-on-year revenue growth for the full fiscal year FY26, with Q4FY26 revenue growing by 11% despite a higher comparative base.

2. 2

   For FY26, EBITDA increased by 34% year-on-year to ₹1,005 million, while Net Profit surged by 57% year-on-year to ₹547 million.

3. 3

   Profitability significantly improved in Q4FY26, with EBITDA margins rising to 5% from 2% in Q4FY25, driven by better contribution margins.

4. 4

   The company successfully achieved a key strategic objective for FY26 by breaking even at the PBT level at its Technicals unit due to enhanced utilization and an improved product mix.

5. 5

   The Domestic Institutional segment recorded healthy growth of 15% year-on-year for FY26, while Domestic Active Ingredients grew by 37% year-on-year.

6. 6

   A new CAPEX project for a dedicated Herbicides facility is progressing as planned and is expected to be commissioned towards the end of Q3FY27.

7. 7

   Management took a prudent step by securing additional inventories in March 2026 to ensure production continuity for the Technicals Plant through the upcoming Kharif season.