BWI: Dhanuka Agritech Ltd Q4 FY10-11 Net Profit Up 26% at Rs. 1366 Lakhs

Press release from Business Wire India
Source: Dhanuka Agritech Ltd.
Monday, May 23, 2011 04:23 PM IST (10:53 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Advertising, PR & marketing, Agriculture, Banking & financial services, Business services, Chemicals, Financial Analyst, Stock exchanges
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Dhanuka Agritech Ltd Q4 FY10-11 Net Profit Up 26% at Rs. 1366 Lakhs


New Delhi, Delhi, India, Monday, May 23, 2011 -- (Business Wire India) -- Dhanuka Agritech Ltd, Bombay Stock Exchange listed (BSE:507717), India's leading crop protection solutions provider, closed the financial year ended on March 31, 2011 on a strong note registering an exponential growth of 41% increase in its consolidated net profit at Rs. 51.11 crore as against Rs.36.33 crore for the corresponding period last year, on the back of its strong reach among more than 10 million farmers offering its eco-friendly high quality crop care products.

Maintaining a consistent record of high growth over the years, Dhanuka Agritech registered a growth of 26% in its consolidated net profit for the fourth quarter ended March 31, 2010 at Rs. 1366 lakhs as against Rs. 1081 lakhs for the same period last year.

The firm's consolidated revenue for the March quarter of 2010-11 stood at Rs. 12801 lakhs as against Rs. 11327 lakhs for the same quarter last year, up 13 %.

On a sequential basis also, the company registered growth in its quarter-on-quarter consolidated net profit of 10% over profit figures of the preceding quarter that stood at Rs.1242 lakhs in the October - December quarter (Q3 FY10-11).

For the Financial Year ended on March 31, 2011, Dhanuka recorded net revenue at Rs. 49,359 lakhs compared Rs. 40, 872 lakhs in the same period in previous fiscal, up by 21%. The Board has recommended final dividend @ 100 % i.e. Rs2/- per equity share of Rs.2/- each on the paid-up share capital of the Co., to be considered by share holders in forth coming AGM.

According to Mr. M K Dhanuka, Managing Director, Dhanuka Group "Our existing channel partners have played an important part in the success story and with the expansion plans of the network underway, we are sure to achieve what we are set out to - the next milestone of Rs. 1,000 crore turnover in the next couple of years.

We have been consistently achieving significant growth in our financials, which stems from our commitment to shareholders in terms of dividends; and to customers (farmers) by offering broad spectrum of products and services. We are further enhancing our manufacturing capabilities at Sanand (Gujarat) and Udhampur (J&K), and also undertaking modernization at other facilities with the help of high tech machineries and plant automation," added Mr. Dhanuka.

This is in sync with the growth plans of Dhanuka that has its eyes firmly set on the next milestone of achieving the target gross turnover of Rs 1,000 crore in the next couple of years. With current retail and dealer base of more than 70,000 and 30 offices and warehouses across India, Dhanuka is among the top five Companies in India when it comes to branded sales.

Dhanuka Agritech Limited is engaged in manufacturing of a wide range of pesticides and Bio Fertilizers. The company manufactures a large number of herbicides/weedicides, insecticides, fungicides, plant growth regulators, plant growth stimulants and foliar fertilizers, in various forms - dust, granules, EC, SC and WDG. The Company has four pesticides manufacturing units located at Gurgaon and Sohna (Haryana), Sanand (Gujarat) and Udhampur (J&K).

Dhanuka have around 80 brands in their portfolio and keep on adding new brands every year. The highest consumed product is Targa Super, and its contribution to the top line is more than 20%, which can be attributed to Co's technical tie-up with Nissan Chemical Industries Ltd., Japan. The top three brands contributing to Co's revenue are: Targa Super, Caldan and Omite.

About Dhanuka Agritech Limited

Dhanuka Agritech Limited is the umbrella company for the business of Agro-Chemicals, Bio Fertilizers, and Seeds. The company reaches out to more than 10 million farmers with its eco-friendly high quality crop care products. The Agri-Division has a pan-India presence through its marketing offices in all major states in India. With a dealer network of more than 6000 across India, the Group has been able to make "Dhanuka" the preferred choice of farmers.

To view the financial results, please click on the link given below:

Financial results
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http://www.BusinessWireIndia.com/attachments/Table_1(9).pdf
Table_1(9).pdf


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