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Last Updated: April 2, 2026, 2:49 am
Author: Getaka|Social: XLinkedIn

Dhanuka Agritech Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹800.82Overvalued by 15.08%vs CMP ₹943.00

P/E (14.6) × ROE (22.0%) × BV (₹311.00) × DY (0.21%)

₹740.72Overvalued by 21.45%vs CMP ₹943.00
MoS: -27.3% (Negative)Confidence: 48/100 (Moderate)Models: 4 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹863.4622%Fair (-8.4%)
Graham NumberEarnings₹678.9716%Over (-28%)
Earnings PowerEarnings₹441.7313%Over (-53.2%)
DCFCash Flow₹986.1013%Fair (+4.6%)
Net Asset ValueAssets₹311.237%Over (-67%)
EV/EBITDAEnterprise₹1,030.629%Fair (+9.3%)
Earnings YieldEarnings₹658.807%Over (-30.1%)
ROCE CapitalReturns₹918.229%Fair (-2.6%)
Revenue MultipleRevenue₹451.425%Over (-52.1%)
Consensus (9 models)₹740.72100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 7.8%

*Investments are subject to market risks

Investment Snapshot

72
Dhanuka Agritech Ltd scores 72/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 28.3% ExcellentROE 22.0% ExcellentD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 0.72% MF buyingPromoter holding at 69.7% Stable
Earnings Quality55/100 · Moderate
OPM expanding (17% → 20%) ImprovingWorking capital: 121 days Capital intensive
Quarterly Momentum68/100 · Strong
Revenue (4Q): +16% YoY GrowingProfit (4Q): +25% YoY Positive
Industry Rank80/100 · Strong
P/E 14.6 vs industry 25.3 Cheaper than peersROCE 28.3% vs industry 15.2% Above peers3Y sales CAGR: 11% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Dhanuka Agritech Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 14.6 vs Ind 25.3 | ROCE 28.3% | ROE 22.0% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.01x | IntCov 0.0x | Current 3.11x | Borrow/Reserve 0.05x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹297 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -0.16 pp | DII +0.70 pp | Prom 0.00 pp
Business Momentum
+77
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -0.7% | Q NP +38.2% | Q OPM +8.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-21.5%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.05xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-0.16 ppLatest FII% minus previous FII%
DII Change+0.70 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-1,218Latest shareholder count minus previous count
Quarterly Sales Change-0.7%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+38.2%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+8.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:49 am

Market Cap 4,251 Cr.
Current Price 943
Intrinsic Value₹740.72
High / Low 1,975/890
Stock P/E14.6
Book Value 311
Dividend Yield0.21 %
ROCE28.3 %
ROE22.0 %
Face Value 2.00
PEG Ratio1.87

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Dhanuka Agritech Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Dhanuka Agritech Ltd 4,251 Cr. 943 1,975/89014.6 3110.21 %28.3 %22.0 % 2.00
Rallis India Ltd 4,540 Cr. 233 386/19724.7 1061.07 %10.1 %6.65 % 1.00
Epigral Ltd 3,749 Cr. 869 2,114/80611.1 4870.69 %24.9 %22.3 % 10.0
NACL Industries Ltd 3,081 Cr. 132 311/113 19.00.00 %7.80 %25.8 % 1.00
Bhagiradha Chemicals & Industries Ltd 2,535 Cr. 196 331/170105 54.90.08 %7.44 %4.91 % 1.00
Industry Average9,472.25 Cr1,009.7725.27369.000.53%15.21%19.87%6.67

All Competitor Stocks of Dhanuka Agritech Ltd

Quarterly Result

MetricMar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
Sales 318393543393371369618403368494654445442
Expenses 253341445342293325476341288422495370332
Operating Profit 65519852784414262807216076110
OPM % 20%13%18%13%21%12%23%15%22%15%24%17%25%
Other Income 1217681576715711711
Interest 1111111111112
Depreciation 44445510131312131317
Profit before tax 72649854874513756816615768102
Tax % 25%23%25%15%25%26%26%19%28%26%25%19%26%
Net Profit 5449734665331024559491185576
EPS in Rs 11.6810.5415.689.8914.337.2322.339.9512.9510.7326.0712.2116.75

Last Updated: January 1, 2026, 11:02 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 5:26 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Sales 7387858298839631,0061,1201,3871,4781,7001,7592,035
Expenses 6186536897137968609471,1181,2141,4211,4311,619
Operating Profit 121132140170166146174269264279327417
OPM % 16%17%17%19%17%15%15%19%18%16%19%20%
Other Income 5613181621253434453536
Interest 431111233335
Depreciation 566151412161516184155
Profit before tax 116129145172167154181285278303319392
Tax % 20%18%26%29%24%27%22%26%25%23%25%24%
Net Profit 93106107122126113141211209234239297
EPS in Rs 18.6221.2121.4524.8325.7123.6629.7145.2144.8551.2352.4665.88
Dividend Payout % 21%6%30%2%21%3%40%4%31%4%27%3%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)13.98%0.94%14.02%3.28%-10.32%24.78%49.65%-0.95%11.96%2.14%24.27%
Change in YoY Net Profit Growth (%)0.00%-13.04%13.08%-10.74%-13.60%35.10%24.87%-50.59%12.91%-9.82%22.13%

Dhanuka Agritech Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:13%
3 Years:11%
TTM:16%
Compounded Profit Growth
10 Years:11%
5 Years:16%
3 Years:12%
TTM:23%
Stock Price CAGR
10 Years:13%
5 Years:16%
3 Years:30%
1 Year:-3%
Return on Equity
10 Years:22%
5 Years:23%
3 Years:21%
Last Year:22%

Last Updated: September 5, 2025, 2:55 am

Balance Sheet

Last Updated: June 16, 2025, 12:14 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital 103101010101099999
Reserves 3224104705126246336987879511,0521,2471,394
Borrowings 39168852284832342774
Other Liabilities 145166169185185171217286320310296323
Total Liabilities 5175946577158238359321,1311,3121,4051,5791,800
Fixed Assets 6770133138131117117167159165338504
CWIP 223800014848153289
Investments 1479266182120159278336255240230
Other Assets 4274384315105105976526797698339731,057
Total Assets 5175946577158238359321,1311,3121,4051,5791,800

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 331101406313813162231104136134263
Cash from Investing Activity + -19-70-6620-11163-44-127-433-81-143
Cash from Financing Activity + -17-38-76-81-20-87-93-129-61-137-57-120
Net Cash Flow -32-237-1025-2512-30
Free Cash Flow 58511344131915221946364674
CFO/OP 46%101%124%63%107%46%114%108%65%75%65%86%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow82.00116.00132.00162.00161.00124.00166.00221.00232.00245.00300.00343.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 849082767979796470737282
Inventory Days 168161125222147137141137148123159132
Days Payable 385246486051645074625746
Cash Conversion Cycle 214199160250166165156151143133174168
Working Capital Days 118113112138122145125103112107140121
ROCE %36%33%31%34%29%23%26%36%30%27%27%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 70.19%70.19%70.19%70.19%70.19%70.19%70.29%70.29%70.32%69.88%69.72%69.72%
FIIs 4.05%3.55%2.21%1.34%1.49%1.53%2.01%2.16%2.19%2.67%2.30%2.14%
DIIs 16.63%17.24%18.22%18.41%18.90%19.29%19.03%18.73%18.06%17.63%18.08%18.78%
Public 9.13%9.03%9.39%10.07%9.43%9.00%8.68%8.82%9.42%9.83%9.91%9.37%
No. of Shareholders 36,58734,22133,68832,51233,81232,77740,46640,40741,01141,81340,91639,698

Shareholding Pattern Chart

No. of Shareholders

Dhanuka Agritech Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund 2,463,511 1.71 275.592,209,5132025-12-15 00:40:0511.5%
DSP Mid Cap Fund 1,637,906 0.96 183.231,872,8832025-12-07 06:23:44-12.55%
Kotak Small Cap Fund 1,341,842 0.92 150.11N/AN/AN/A
HDFC Mid Cap Fund 1,041,094 0.13 116.47N/AN/AN/A
Aditya Birla Sun Life Dividend Yield Fund 182,184 1.34 20.38182,1842025-04-22 17:25:370%
Bandhan Multi Cap Fund 175,000 0.7 19.58170,0002026-02-23 06:03:212.94%
Bandhan Multi Asset Allocation Fund 59,286 0.22 6.6349,2862026-02-23 06:03:2120.29%
Navi Flexi Cap Fund 22,000 0.97 2.469,5002026-02-23 06:03:21131.58%
Bandhan Retirement Fund 7,107 0.43 0.8N/AN/AN/A
Navi Aggressive Hybrid Fund 4,500 0.46 0.5N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 65.5552.4650.3544.8544.61
Diluted EPS (Rs.) 65.5552.4650.3544.8544.61
Cash EPS (Rs.) 78.1861.3655.0948.3448.46
Book Value[Excl.RevalReserv]/Share (Rs.) 311.17275.54232.85206.19170.94
Book Value[Incl.RevalReserv]/Share (Rs.) 311.17275.54232.85206.19170.94
Revenue From Operations / Share (Rs.) 451.47385.83373.03317.27297.88
PBDIT / Share (Rs.) 100.4379.5170.9663.7865.01
PBIT / Share (Rs.) 88.1270.6167.1060.2861.75
PBT / Share (Rs.) 86.9969.9466.4259.6061.17
Net Profit / Share (Rs.) 65.8852.4651.2344.8545.21
NP After MI And SOA / Share (Rs.) 65.8852.4651.2344.8545.21
PBDIT Margin (%) 22.2420.6019.0220.1021.82
PBIT Margin (%) 19.5118.3017.9819.0020.73
PBT Margin (%) 19.2618.1217.8018.7820.53
Net Profit Margin (%) 14.5913.5913.7314.1315.17
NP After MI And SOA Margin (%) 14.5913.5913.7314.1315.17
Return on Networth / Equity (%) 21.1719.0322.0021.7526.44
Return on Capital Employeed (%) 27.3624.7327.6127.8633.63
Return On Assets (%) 16.4915.1416.6115.9118.61
Total Debt / Equity (X) 0.030.000.000.000.01
Asset Turnover Ratio (%) 1.201.181.251.211.34
Current Ratio (X) 3.293.693.013.143.11
Quick Ratio (X) 2.152.191.852.002.04
Inventory Turnover Ratio (X) 4.982.362.672.502.78
Dividend Payout Ratio (NP) (%) 9.2019.0611.9622.290.00
Dividend Payout Ratio (CP) (%) 7.7516.2911.1220.680.00
Earning Retention Ratio (%) 90.8080.9488.0477.710.00
Cash Earning Retention Ratio (%) 92.2583.7188.8879.320.00
Interest Coverage Ratio (X) 88.57117.41103.7492.76112.41
Interest Coverage Ratio (Post Tax) (X) 59.1078.4675.8966.2279.16
Enterprise Value (Cr.) 5866.524658.652785.053337.743220.33
EV / Net Operating Revenue (X) 2.882.651.642.262.32
EV / EBITDA (X) 12.9612.858.6111.2410.63
MarketCap / Net Operating Revenue (X) 2.862.651.642.262.32
Retention Ratios (%) 90.7980.9388.0377.700.00
Price / BV (X) 4.153.712.623.484.04
Price / Net Operating Revenue (X) 2.862.651.642.262.32
EarningsYield 0.050.050.080.060.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Dhanuka Agritech Ltd. is a Public Limited Listed company incorporated on 13/02/1985 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L24219HR1985PLC122802 and registration number is 122802. Currently Company is involved in the business activities of Manufacture of insecticides, rodenticides, fungicides, herbicides. Company's Total Operating Revenue is Rs. 2035.15 Cr. and Equity Capital is Rs. 9.02 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Agro Chemicals/PesticidesGlobal Gateway Towers, Near Guru Dronacharya Metro Station, Gurugram Haryana 122002Contact not found
Management
NamePosition Held
Mr. Mahendra Kumar DhanukaChairman
Mr. Rahul DhanukaManaging Director
Mr. Harsh DhanukaExecutive Director
Mr. Ashish SarafExecutive Director
Mr. Manish DhanukaNon Executive Director
Mr. Sachin Kumar BhartiyaIndependent Director
Mr. Sanjay SaxenaIndependent Director
Ms. Namrata GuptaIndependent Director
Mr. Bajrang Lal BajajIndependent Director
Mr. Siraj Azmat ChaudhryIndependent Director
Mr. Satish Kumar GuptaIndependent Director

FAQ

What is the intrinsic value of Dhanuka Agritech Ltd and is it undervalued?

As of 07 April 2026, Dhanuka Agritech Ltd's intrinsic value is ₹740.72, which is 21.45% lower than the current market price of ₹943.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (22.0 %), book value (₹311), dividend yield (0.21 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Dhanuka Agritech Ltd?

Dhanuka Agritech Ltd is trading at ₹943.00 as of 07 April 2026, with a FY2026-2027 high of ₹1,975 and low of ₹890. The stock is currently near its 52-week low. Market cap stands at ₹4,251 Cr..

How does Dhanuka Agritech Ltd's P/E ratio compare to its industry?

Dhanuka Agritech Ltd has a P/E ratio of 14.6, which is below the industry average of 25.27. This is broadly in line with or below the industry average.

Is Dhanuka Agritech Ltd financially healthy?

Key indicators for Dhanuka Agritech Ltd: ROCE of 28.3 % indicates efficient capital utilization; ROE of 22.0 % shows strong shareholder returns. Dividend yield is 0.21 %.

Is Dhanuka Agritech Ltd profitable and how is the profit trend?

Dhanuka Agritech Ltd reported a net profit of ₹297 Cr in Mar 2025 on revenue of ₹2,035 Cr. Compared to ₹209 Cr in Mar 2022, the net profit shows an improving trend.

Does Dhanuka Agritech Ltd pay dividends?

Dhanuka Agritech Ltd has a dividend yield of 0.21 % at the current price of ₹943.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dhanuka Agritech Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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