Dhanuka Agritech - Better Sales Mix Drive Q3 Profitability: Prabhudas Lilladher
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Prabhudas Lilladher Report
Dhanuka Agritech Ltd. reported better than expected Ebitda growth of 46% to Rs 502 million (our estimate Rs 405 million) driven by better sales mix and sharp growth in fungicides segment.
Q4 is expected to be another good quarter driven by demand, due to deferment of season from Q3 and low base effect due to lockdown in Q4.
Its robust pipeline of 10 new products will drive growth for the next two years.
The company plans to invest Rs 2 billion to set up a technical manufacturing plant at Dahej for backward integration and venturing into exports.
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