Dhanuka Agritech Ltd

Dhanuka Agritech Limited, formerly known as Dhanuka Pesticides Limited, manufactures a wide range of agrochemicals like herbicides, insecticides, fungicides, plant growth regulators in various forms liquid, dust, powder and granules. The company has established itself across major crops (rice, cotton, soybean, and vegetables) and geographies (south and west). To enhance its position across the spectrum, the company has been aggressive in new product launches supported by international tieups. The Company has three production units situated at Sanand in Gujarat, Keshwana in Rajasthan, and Udhampur in Jammu Kashmir. The 3 manufacturing units with 39 warehouses and network of over 8 branch offices across the Indian geography caters to 6500 distributors around 80,000 dealers which enables it to have presence across 10 million farmers touch points. Besides these, it has a panIndia presence through its Branch offices/Depots in all major states in India. It has world class NABL Accredited Laboratories and has international collaboration with leading companies of US, Japan and Europe. Dhanuka Pesticides was incorporated in February 13th, 1985, commenced commercial production in 1986. It is promoted by the Dhanuka Group of Industries. The company has a technical tieup with Du Pont, US, for formulations of pesticides using raw material methomyl, which is imported from Du Pont. The plant was inaugurated in Jun.92.In 1993, the company implemented an expansioncumdiversification scheme to widen its operations by installing capacities for the manufacture of 200 tpa of technical grade atrazine and 80 tpa of the intermediate product parachloro benzyl cyanide and various pesticides and formulations.In 199596, the company commissioned plants to manufacture metaphenoxy benzaldehyde, an intermediate, and formulation plants for cypermethrin 10% EC and 25% EC.During 199899, the company successfully launched Nukil 10% EC in technical association with M/s Mitsui Chemicals Inc. Japan. The company also launched a systematic antibiotic, Validamycin 3L in technical tie up with M/s. Takeda Chemical Industries Ltd., Japan. The Company started marketing of Dunet 40 SP in technical tieup with M/s EI DuPont.It has also launched a Soyabean WeedicideTarga Super in technical tieup with M/s Nissan Chemicals Industries Ltd in May 2001.During the financial year ended 31 March 2010, Dhanuka Agritech launched various new products, namely Dhawa Gold, Areva, Apple, Dera, Nabood, Dhanzyme Gold and AdFyre. The market has shown encouraging response to these products. The company opened 7 new depots during the year to strengthen its market penetration and to save on transportation cost.Dhanuka Agritech achieved its sales and profitability targets during the year by a threefold strategy of increasing sales, penetrating newer markets and reducing costs. The company has passed resolutions by way of Postal Ballot for carrying out the business of Wind Mill Power Project. The project has been launched in Rajasthan in association with Suzlon Energy Limited and became functional from 31 December 2009. During the financial year ended 31 March 2014, the company embarked on the construction of a new automated manufacturing plant in Rajasthan with budgeted capex of approx Rs. 50 crore.During the year under review, the company launched inlicensed products Maxyld, Media Super, Defend, Danfuron with successful marketplace acceptance.The Delhi High Court approved the comprehensive Scheme of Amalgamation between M/s. A.M. Bros. Fintrade Private Limited and M/s. Dhanuka Finvest Private Limited with Dhanuka Agritech Limited and their respective Shareholders and Creditors. The order of the High Court has been led on 1 December 2015 with the Registrar of the Companies, NCT Delhi Haryana.Dhanuka Agritech commissioned a stateoftheart manufacturing facility at Keshwana (Rajasthan) on 16 March 2016.During the financial year ended 31 March 2017, Dhanuka Agritech rewarded its Shareholders by doing Buyback at Rs 850 per equity share (the Buyback Price) amounting to be Rs. 80 crore. With the Buyback price of Rs 850 per share and Buyback Size of Rs 80 crore, the total number of shares bought back in the Buyback was 9,41,176 Equity Shares, representing about 1.88% of the total issued and paidup equity capital of the Company as on 31 March 2016.Driven by the focus of winning customers through planned strategies, Dhanuka Agritech financial performance continued to gain momentum quarter after quarter during the financial year ended 31 March 2018 resulting in nearly 9% growth in adjusted turnover over the previous year.The company permanently closed its manufacturing activities at its plant situated at Daulatabad Road, Gurugram122 001, Haryana, w.e.f. 9 January 2018. The entire manufacturing operations of Gurugram unit have been shifted to Keshwana (Rajasthan) unit with no adverse effect on the companys overall operations.During FY 2019, the Company rewarded its Shareholders by undertaking Buyback of its Shares at Rs. 550 per Equity Share amounting to Rs. 82,50,00,000 excluding transaction costs, viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc. With the Buyback Price of Rs. 550/ and Buyback Size of Rs. 82,50,00,000 the total number of Shares bought back were 15,00,000 Equity Shares, representing about 3.06% of the total Issued and Paidup Equity Share Capital of the Company.As on 31 March 2019, the Company has only one subsidiary namely, M/s. Dhanuka Agri Solutions Private Limited, incorporated in Bangladesh, which is Companys Wholly Owned Subsidiary. In FY 20, Company launched seven products such as, Mycore, Zapac, Prorin, Prodhan, Largo, Chempa and Apply. Further the period of lockdown, it launched 2 new products , Dabooch and Dozo Maxx.In FY21, Company is in the process of setting up a plant for Technical Manufacturing of Pesticides i.e. Backward Integration Process, at Dahej, Gujarat and has acquired a plot of approx. 1,37,000 square meters at Dahej, Gujarat in the year 2013. Apart from this, it has launched Six Products such as, Dabooch, Dozo Maxx, Kirari, CrazeD, Nissodium, and Ripple. During FY22, the Company has received a 9(3) Registration Certificate for Import of Halosulfuron Methyl Tech. Min. 97%. It launched a Comarketing product under brand name TORNADO containing Quizalofop Ethyl 7.5%+ Imazthpyre 15% to control broad leaf as well as narrow leave weeds in Soybean and other crops. It also launched a product ONEKILL a combination of Quizalofop Ethyl 4% + Oxyflourfen 6% EC, which will be used for the control of weeds in Onion Crop. It has received the Registration Certificate for Export u/s 9(3) for Bifenthrin 20% EC and Lambda Cyhalothrin 25% CS and also for Formulation Indigenous Manufacture u/s 9(4) for Pymetrozine 50% WG. It will be used to protect Rice crop from Brown Plant Hopper (BPH). It has executed Shareholders Subscription Agreement and Shareholders Agreement with M/s. IotechWorld Avigation Private Limited in August 2021 and invested Rs. 20 crores.