The net profit in Q1FY21 came in at Rs 51.79cr that increased by 252.89 per cent, as compared to Q1FY20, when it reported Rs14.67cr 

Dhanuka Agritech announced that its consolidated net sales in Q1FY21 stood at Rs373.85cr, which is increased by 70.72 per cent yoy from Rs218.98cr in Q1FY20.

The net profit in Q1FY21 came in at Rs 51.79cr that increased by 252.89 per cent, as compared to Q1FY20, when it reported Rs14.67cr. The net profit margin in Q1FY21 came in at 13.85 per cent growth of 7.15 per cent yoy. The net profit margin for Q1FY20 was at 6.7 per cent.

Dhanuka Agritech said the group resumed operations in a phased manner from the beginning of April as per government directives on COVID-19 pandemic. However, subsidiary firm Dhanuka Agri-Solutions has not yet started operations.

With a view to ensure minimal disruption with respect to operations including production and distribution activities, the Group has taken several business continuity measures, including working from home, providing laptops or desktops, following social distancing norms and sanitization of office/work places, it said.

“While the group has not experienced any significant difficulties with respect to market demand, liquidity, collections so far, the management believes that being into an essential commodity there is no significant impact of COVID-19 pandemic on the current and future business operations, no impact on financial statements liquidity position and cash flows,” it said.

The company said it continues to closely monitor the rapidly changing situation. Dhanuka Agritech manufactures insecticides, pesticides and other chemicals. The company has technical tie-ups with 4 American and 6 Japanese companies.