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    Dhanuka Agritech: Why it presents a buying opportunity

    Given the indication of a normal monsoon this year, the domestic agrochemical market is poised to do well

    Lekha Badlani
    March 19, 2024 / 09:11 AM IST
    Dhanuka Agritech: Why it presents a buying opportunity

    Supported by a richer product mix and the possibility of a normal monsoon, Dhanuka expects to achieve a double-digit revenue growth in FY25

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Highlights

    • Inventory and pricing situation remain mixed across geographies

    • Domestic agrochem demand remains solid

    • Management expects double-digit growth in FY25

    • Recent correction offers value

    Dhanuka Agritech (DAL; CMP: Rs 971; Market cap: Rs 4,427 crore; Rating: Overweight) has remained quite resilient amid a challenging agrochemical market and we believe it will continue to deliver healthy growth, going forward.

    Agrochemical market remains a mixed bag

    The global agrochemical market has not yet completely stabilised, given the erratic monsoon in India and harsh weather conditions

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