Dharmaj Crop Guard Ltd - Stock Valuation and Financial Performance

BSE: 543687 | NSE: DHARMAJ | Pesticides & Agrochemicals | Small Cap

Dharmaj Crop Guard Share Price

345.70 18.80 5.75%
as on 11-Oct'24 16:01

DeciZen - make an informed investing decision on Dharmaj Crop Guard

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Dharmaj Crop Guard stock performance -

mw4me loader
P/E Ratio (SA):
28.84
Market Cap:
1,169.6 Cr.
52-wk low:
197.7
52-wk high:
388.8

Is Dharmaj Crop Guard Ltd an attractive stock to invest in?

1. Is Dharmaj Crop Guard Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dharmaj Crop Guard Ltd is a average quality company.

2. Is Dharmaj Crop Guard Ltd undervalued or overvalued?

The key valuation ratios of Dharmaj Crop Guard Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Dharmaj Crop Guard Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dharmaj Crop Guard Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Dharmaj Crop Guard:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dharmaj Crop Guard Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 29.4%38.6%42.7%40.1%16.6%14.5%-
Value Creation
Index
1.11.82.11.90.20.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 139198302394524654747
Sales YoY Gr.-42.2%52.6%30.4%33%24.8%-
Adj EPS 3.24.28.311.38.11312
YoY Gr.-29.6%97.4%36.1%-28.3%61.1%-
BVPS (₹) 714.422.834.493.3106.3110.8
Adj Net
Profit
4.910.420.527.827.44441
Cash Flow from Ops. 3.32.112.916.4-23.77.4-
Debt/CF from Ops. 6.29.92.12.3-2.215.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA36.2%29.3%24.8%
Adj EPS NA32.1%16.3%61.1%
BVPSNA72.2%67%14%
Share Price - - - 45.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
46.245.144.639.413.713.111.1
Op. Profit
Mgn %
7.59.110.311.389.68.9
Net Profit
Mgn %
3.55.26.87.15.26.75.4
Debt to
Equity
1.90.60.50.40.20.3-
Working Cap
Days
0959411411611779
Cash Conv.
Cycle
0403539546736

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 29.33%

Net Profit is growing at healthy rate in last 3 years 16.27%

Sales growth is good in last 4 quarters at 41.71%

Return on Equity has declined versus last 3 years average to 11.10%

Latest Financials - Dharmaj Crop Guard Ltd.

Standalone Consolidated
TTM EPS (₹) 12 -
TTM Sales (₹ Cr.) 747 -
BVPS (₹.) 110.8 -
Reserves (₹ Cr.) 341 -
P/BV 3.12 -
PE 28.84 -
From the Market
52 Week Low / High (₹) 197.65 / 388.75
All Time Low / High (₹) 139.00 / 388.75
Market Cap (₹ Cr.) 1,170
Equity (₹ Cr.) 33.8
Face Value (₹) 10
Industry PE 42.2

Management X-Ray of Dharmaj Crop Guard:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Dharmaj Crop Guard

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales139198302394524654
Operating Expenses 129180271350483591
Manufacturing Costs35711513
Material Costs108151233309431519
Employee Cost 6811131827
Other Costs 121620182932
Operating Profit 101831444163
Operating Profit Margin (%) 7.5%9.0%10.3%11.2%7.8%9.6%
Other Income 111253
Interest 221323
Depreciation 223555
Exceptional Items 000000
Profit Before Tax 71428393857
Tax 247101113
Profit After Tax 51121292744
PAT Margin (%) 3.6%5.4%6.9%7.3%5.1%6.8%
Adjusted EPS (₹)3.44.48.511.68.013.1
Dividend Payout Ratio (%)0%0%0%1%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 11355685315359
Share Capital 21616253434
Reserves 9194060281326
Minority Interest000000
Debt2020273352100
Long Term Debt17515253476
Short Term Debt3151271824
Trade Payables133339913767
Others Liabilities 446102636
Total Liabilities 4892129219429563

Fixed Assets

Gross Block1729495559337
Accumulated Depreciation5810151924
Net Fixed Assets1222394040312
CWIP 02118902
Investments 000000
Inventories152844637393
Trade Receivables1733368673119
Cash Equivalents 10111253
Others Assets378112833
Total Assets 4892129219429563

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 321316-247
PBT 71428393857
Adjustment 443859
Changes in Working Capital -6-13-12-20-55-46
Tax Paid -2-4-7-10-11-14
Cash Flow From Investing Activity -4-15-18-24-191-62
Capex -3-15-18-23-69-190
Net Investments -1000-125125
Others 000023
Cash Flow From Financing Activity 0126721457
Net Proceeds from Shares 014002160
Net Proceeds from Borrowing 1-13139561
Interest Paid -1-1-1-2-2-2
Dividend Paid 000000
Others 011-71-4-2
Net Cash Flow 0-110-13
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)47.7146.8345.6840.6213.4313.16
ROCE (%)29.3838.6242.6540.1216.5714.53
Asset Turnover Ratio2.932.832.732.261.621.32
PAT to CFO Conversion(x)0.60.180.620.55-0.890.16
Working Capital Days
Receivable Days444642575553
Inventory Days403943494746
Payable Days445657775437

Dharmaj Crop Guard Ltd Stock News

Dharmaj Crop Guard Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Dharmaj Crop Guard on 11-Oct-2024 16:01 is ₹345.7.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-Oct-2024 16:01 the market cap of Dharmaj Crop Guard stood at ₹1,169.6.
The latest P/E ratio of Dharmaj Crop Guard as of 11-Oct-2024 16:01 is 28.84.
The latest P/B ratio of Dharmaj Crop Guard as of 11-Oct-2024 16:01 is 3.12.
The 52-week high of Dharmaj Crop Guard is ₹388.8 and the 52-week low is ₹197.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dharmaj Crop Guard is ₹747.4 ( Cr.) .

About Dharmaj Crop Guard Ltd

Dharmaj Crop Guard Limited was incorporated on January 19, 2015, at Ahmedabad as a public limited company under the Companies Act, 2013 pursuant to a certificate of incorporation issued by the Registrar of Company, Gujarat at Ahmedabad (RoC).

The company is an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical formulations such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the B2C and B2B customers. It also engages in the marketing and distribution of agrochemical products under brands in-licensed by it, owned by it and through generic brands, to Indian farmers through its distribution network. It provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. It exports its products to more than 25 countries in Latin America, East African Countries, Middle East and Far East Asia. It sells its agrochemical products in granules, powder and liquid forms its customers. Additionally, it manufactures and sells general insect and pest control chemicals for Public Health and Animal Health protection.

With an aim to offer a wide product portfolio across the agri-value chain, the company continues to expand its product portfolio by introducing new products. It manufactures and sells various formulations of insecticides, fungicide and herbicides, plant growth regulators, micro fertilizers and antibiotics. The company’s manufacturing facility is located at Plot No. 408 to 411, Kerala GIDC Estate, Off NH-8, Kerala, Taluka Bavla, Ahmedabad, Gujarat, India. Its manufacturing facility are equipped with modern plant and machinery capable of producing quality agrochemical products and have received quality control certifications such as ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 for development and manufacturing of agrochemical formulations such as insecticides, herbicides, fungicides, micro fertilizers and plant growth regulators.

Business area of the company

The company is engaged in the business of manufacturing, distributing, and marketing a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilizers and antibiotics to the B2C and B2B customers.

Key awards, accreditations and recognitions

  • 2018: The company received ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certificate of registration from Alcumus ISOQAR for management system, which is applicable for development and manufacturing of agrochemical formulations such as insecticides, herbicides, fungicides, micro fertilizers and plant growth regulators (PGR).
  • 2019: Received Best Brand Award (Agriculture/ Pesticides) at Gujarat Brand Leadership Award 2019.
  • 2021: Received appreciation from Office of Mamlatdar and Executive Magistrate, Bavla for helping generously to the local and needy persons, specifically during Covid Pandemic and Tauktae Cyclone.
  • 2021: The QC Laboratory of the Company received certificate of accreditation from National Accreditation Board for Testing and Calibration Laboratories (NABL) and has been assessed and accredited in accordance with the standard ISO/IEC 17025:2017.
  • 2022: Received the runner up award for the best Emerging company in the Medium Scale Unit category from the Pesticides Manufacturer and Formulator Association of India (PMFAI).
  • 2022: Received appreciation of “Gujarat Na Anmol Ratna” from ABP Network.

Major events and milestones

  • 2016: Acquired Plot No. 408 and 409 at Kerala GIDC Estate, Taluka Bavla, Ahmedabad on lease for 99 years and commencement of manufacturing facility for agrochemical formulations.
  • 2019: Acquired Plot No 410 and 411 at Kerala GIDC Estate, Taluka Bavla, Ahmedabad on lease for 99 years for expansion of manufacturing capacity of agrochemical formulations.
  • 2019: Crossed turnover of Rs 1,000.00 million and reached to turnover of Rs 1,393.56 million for the financial year 2018-19.
  • 2021: Crossed turnover of Rs 3,000.00 million and reached to turnover of Rs 3,024.10 million for the financial year 2020-21.
  • 2021: Acquired land at Saykha, Bharuch, Gujarat on lease basis for 99 years for setting up a new facility for manufacturing Agrochemical Technicals and its intermediates.


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