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Dhanuka Agritech Limited
(DHANUKA)
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Rating:67Neutral
Price Target:
₹1,080.00
▲(6.60% Upside)
Action:Downgraded
Date:08/21/26
The score is anchored by strong financial quality—especially the very low-leverage balance sheet and solid growth/profitability—offset by inconsistent cash-flow conversion and margin volatility. Technically, the stock looks weak (below key moving averages with negative MACD and sub-40 RSI), which drags the score. Valuation is reasonable (P/E ~16.8) but the very low dividend yield offers little support.
Positive Factors
Very Low Leverage
Extremely low leverage reduces interest and refinancing risk, giving Dhanuka financial flexibility to withstand agricultural cycles and fund product development, inventory, or distribution expansion without relying heavily on additional borrowing.
Negative Factors
Uneven Cash Conversion
Historically weak operating-cash-flow conversion suggests working-capital and collection timing risks. This can make earnings less dependable as a source of funding, particularly when inventory needs rise during seasonal agricultural demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage reduces interest and refinancing risk, giving Dhanuka financial flexibility to withstand agricultural cycles and fund product development, inventory, or distribution expansion without relying heavily on additional borrowing.
Read all positive factors
Dhanuka Agritech Limited (DHANUKA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹43.59B
Dividend Yield0.2%
Average Volume (3M)1.72K
Price to Earnings (P/E)16.5
Beta (1Y)0.92
Revenue Growth-5.63%
EPS Growth-11.38%
CountryIN
Employees1,136
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)59.46
Shares Outstanding44,578,323
10 Day Avg. Volume802
30 Day Avg. Volume1,723
Financial Highlights & Ratios
PEG Ratio-5.05
Price to Book (P/B)2.41
Price to Sales (P/S)2.01
P/FCF Ratio22.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)61.97
Revenue Forecast (FY)₹21.64B
Dhanuka Agritech Limited Business Overview & Revenue Model
Company Description
Dhanuka Agritech Limited, established in 1985 and based in Gurugram, India, is a key player in the Indian agricultural sector, focusing on the production and sale of a wide array of agro-chemicals. Their comprehensive product portfolio includes he...
How the Company Makes Money
Dhanuka Agritech primarily makes money by selling branded agrochemical crop protection products in India. Revenue is generated from the sale of formulations across key categories—herbicides, insecticides, fungicides, and plant growth regulators—di...
Dhanuka Agritech Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.53B | 20.20B | 20.35B | 17.33B | 17.00B | 14.63B |
| Gross Profit | 5.96B | 5.59B | 8.16B | 6.59B | 5.85B | 5.23B |
| EBITDA | 4.19B | 4.03B | 4.17B | 3.62B | 3.23B | 2.97B |
| Net Income | 2.68B | 2.87B | 2.97B | 2.39B | 2.34B | 2.09B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 21.02B | 18.00B | 15.79B | 14.05B | 13.12B |
| Cash, Cash Equivalents and Short-Term Investments | 2.97B | 3.21B | 1.24B | 723.49M | 992.53M | 1.98B |
| Total Debt | 0.00 | 306.39M | 742.33M | 269.79M | 335.17M | 318.07M |
| Total Liabilities | -16.82B | 4.20B | 3.97B | 3.23B | 3.44B | 3.52B |
| Stockholders Equity | 16.82B | 16.82B | 14.03B | 12.56B | 10.61B | 9.60B |
Cash Flow | ||||||
| Free Cash Flow | 255.12M | 1.82B | 686.61M | 451.24M | 120.50M | 444.51M |
| Operating Cash Flow | 398.19M | 2.09B | 2.63B | 1.34B | 1.36B | 1.04B |
| Investing Cash Flow | 191.17M | -1.35B | -1.43B | -808.93M | 25.65M | -426.01M |
| Financing Cash Flow | -554.26M | -560.78M | -1.20B | -565.42M | -1.37B | -608.00M |
Dhanuka Agritech Limited Technical Analysis
Negative
1013.10
Price Trends
1013.54
Negative
1049.42
Negative
1072.58
Negative
Market Momentum
-6.22
Negative
43.26
Neutral
33.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DHANUKA, the sentiment is Negative. The current price of 1013.1 is above the 20-day moving average (MA) of 992.87, below the 50-day MA of 1013.54, and below the 200-day MA of 1072.58, indicating a bearish trend. The MACD of -6.22 indicates Negative momentum. The RSI at 43.26 is Neutral, neither overbought nor oversold. The STOCH value of 33.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DHANUKA.
Dhanuka Agritech Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹39.65B | 18.48 | ― | 1.48% | 4.41% | 24.42% | |
68 Neutral | ₹177.45B | 24.42 | ― | 3.77% | -2.78% | 23.56% | |
67 Neutral | ₹43.59B | 16.48 | ― | 0.20% | -5.63% | -11.38% | |
58 Neutral | ₹487.09B | 24.04 | ― | 1.05% | 12.86% | 72.26% | |
56 Neutral | ₹363.52B | 30.79 | ― | 0.42% | -16.57% | -27.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹15.63B | 14.53 | ― | 0.55% | 17.05% | 9.10% |
* General Sector Average
IN:DHANUKA
Dhanuka Agritech Limited
983.20
-592.06
-37.59%
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135.65
-75.01
-35.61%
IN:PIIND
PI Industries Limited
2,359.75
-1,360.46
-36.57%
IN:RALLIS
Rallis India Limited
203.00
-127.91
-38.65%
IN:UPL
UPL Limited
573.85
-120.93
-17.41%
Dhanuka Agritech Limited Corporate Events
Dhanuka Agritech Appoints New General Manager–Sales to Bolster Agro-Inputs Business
Aug 3, 2026
Dhanuka Agritech Limited has appointed Mr. Shalinder Singh as Senior Management Personnel in the role of General Manager–Sales, effective 3 August 2026. He joins the company on a full-time basis, strengthening its sales leadership structure ...
Dhanuka Agritech Launches ₹70 Crore Share Buyback at ₹1,400 Per Share
May 21, 2026
Dhanuka Agritech Limited has announced a buyback offer for up to 500,000 fully paid-up equity shares with a face value of ₹2 each at a price of ₹1,400 per share, payable in cash. The buyback, to be executed on a proportionate basis thr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.