Dhanuka Agritech slips 19% in 2 days post Q1; Axis Sec downgrades to 'Hold'

Dhanuka Agritech's profit after tax jumped 13.52 per cent year-on-year to ₹55.5 crore in Q1FY26, as against ₹48.89 crore in the same quarter last year

Dhanuka Agritech share price today: Shares of Gurugram-based agrochemical manufacturer Dhanuka Agritech fell around 6 per cent to hit an intraday low of ₹1,547.6 after it reported a weak set of numbers for the June 2025 quarter (Q1FY26).

 

At 12 PM, Dhanuka's share price was trading 4 per cent lower at ₹1,578.7 per share on the NSE. In comparison, NSE Nifty50 was up 0.44 per cent at 24,672.15 levels. The market capitalisation of the company stood at ₹7,122.22 crore. The stock has plunged nearly 19 per cent in the last two trading sessions.  READ STOCK MARKET LIVE UPDATES TODAY

Dhanuka Agritech share price

Dhanuka Agritech’s profit after tax (PAT) jumped 13.52 per cent year-on-year (Y-o-Y) to ₹55.5 crore in Q1FY26, as against ₹48.89 crore in the same quarter last year (Q1FY25).

 

The revenue from operations grew 7.03 per cent Y-o-Y to ₹528.29 crore in Q1FY26, from ₹493.58 crore a year ago.

 

At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) rose 16 per cent Y-o-Y to ₹83.19 crore, from ₹71.72 crore in the same quarter of the previous fiscal year. Subsequently, Ebitda margin expanded to 15.75 per cent in Q1FY26, from 14.53 per cent a year ago.

Dhanuka Agritech FY26 guidance

The company said, in its investor presentation, that it is expecting higher double-digit growth in its revenue for FY26, while Ebitda guidance remains in line with 2024-25.   ALSO READ | JSW Energy share price rises 4% in trade; why is the stock in demand?

Dhanuka Agritech Q1 results analysis - Axis Securities

According to analysts at Axis Securities, Dhanuka commenced FY26 on a cautious note, posting a 7 per cent Y-o-Y revenue growth in Q1, driven by 5 per cent growth in volumes and a 7 per cent improvement in realisations. The brokerage said that the delayed and uneven southwest monsoon affected timely kharif sowing, softening demand for agri-inputs like herbicides. Conservative farmer sentiment and high channel inventories also weighed on primary sales. However, improved rainfall by late June has brightened agricultural prospects, paving the way for a recovery in Q2.

 

According to Axis Securities, Dhanuka's newly launched  9(3) product — Dinkar, a herbicide for paddy, has received a positive response, particularly in southern markets. The company is on track to launch additional products from its Dahej facility in H2FY26, including Kinzan, a Japanese fungicide (licensed from Nissan Chemicals) targeted at grapes and potatoes. "Furthermore, it plans to launch Melody Duo—a product acquired from Bayer CropScience—along with at least two more new products in FY26, which should support growth momentum," the brokerage said.

 

Axis Securities has downgraded the stock from 'Buy' to 'Hold' with an unchanged target price of ₹1,800 per share, citing limited room for further appreciation at current valuations.