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Saturday / July 20. 2024
HomeAgribusinessDhanuka Agritech FY24 net profit up by 2.4% to Rs 239.09 Cr

Dhanuka Agritech FY24 net profit up by 2.4% to Rs 239.09 Cr

 Company has reported revenue of Rs. 1758.54 Cr in FY’24 and growth of 3.4 per cent over FY23.

Dhanuka Agritech, one of the leading agri input companies in India, announced its financial results for the fourth quarter of the financial year ending March 2024. The company recorded revenues of Rs 1758.54 Crore for the period ended March 31, 2024, an increase of 3.4 per cent over Past Year of Rs 1700.22 Crore. Company has posted Net Profit of Rs 239.09 in FY24 compared to Rs 233.51 in FY23 registering growth of 2.4 per cent.

The company recently launched several products which will revolutionize the agricultural sector of the country. The products, include LaNevo, MYCORe SUPER and Purge.

Commenting on the Q4 performance, M. K. Dhanuka, Vice-Chairman and Managing Director, Dhanuka Agritech Ltd said, despite the year 2023 recording below-average rainfall (820 mm compared to the usual 868.6 mm) due to El Nino, prevailing volatile and challenging market conditions, the company performed reasonably well. Our new product offerings have received encouraging responses from the farming community.

As IMD forecasts predict above-normal rainfall this year, it would significantly benefit the agriculture sector, especially the kharif season. Accordingly, we at Dhanuka are hopeful of delivering a strong performance and profit stabilization in the current financial year.

Projecting into the current financial year, he said like the last few years, the company plans to launch several groundbreaking products in the current financial year. These advancements will not only revolutionize Indian agriculture but also solidify the company’s position in the competitive agrochemical market. Already, in the month of April-May, we have launched three innovative products including the global introduction of the herbicide ‘Purge’, as well as the launch of insecticide ‘LaNevo’, and bio-fertilizer ‘MYCORe Super’. The initial feedback of the market is phenomenal for all these products, and we plan the introduction of more innovative products over the next few months.

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