Dharmaj Crop Guard (DHARMAJ) had a P/E of 13.7× on 6 Nov 2026, below the industry P/E of 14.4×, and the shares are 20% below their 52-week high. Sales and net profit grew 30% and 27% a year over 3 years, with ROCE of 16% and ROE of 13%. Debt is 0.29× equity. It is a small-cap company with a market cap of ₹823 Cr, ranked 31st of 72 Agricultural Inputs companies by market cap; the shares fell 5.2% over the past year.
- ₹244.15
- ₹246.70
- ₹242.60
- ₹244.15
- 11.8K
Health check
- ReturnsAhead
−5.2% over a year, better than 7 of 7 peers.
- Price tagIn line
P/E 13.7 vs industry 14.4.
- GrowthStrong
Sales +29.5%, profit +26.7% a year over 3 years.
- ProfitabilityAverage
ROCE 16.2% vs peer median 20.9%.
- Balance sheetSolid
Debt 0.29× equity, interest covered 8.1×, Piotroski 8 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹823 Cr
- Small cap
- P/E
- 13.7
- Industry 14.4
- Price to book
- 1.83
- Peers 4.28
- Dividend yield
- 0.00%
- ROE
- 13.0%
- Peers 16.2%
- ROCE
- 16.2%
- Peers 20.9%
- Debt to equity
- 0.29
- Debt ₹132 Cr
- EPS (TTM)
- ₹17.80
- Face value ₹10
- OPM (TTM)
- 9.3%
- Net margin 5.2%
- Sales growth
- +4.1%
- Latest quarter vs a year ago
- Profit growth
- +16.9%
- Latest quarter vs a year ago
- Price to sales
- 0.71
- EV/EBITDA 9.1
Strengths and risks
Strengths and risks
Nothing stands out either way in the headline numbers.
About Dharmaj Crop Guard
Dharmaj Crop Guard Limited engages in manufacturing, distributing, and marketing of a range of agro chemical formulations in India. The company's agro chemical formulations include insecticides, fungicides, herbicides, plant growth regulators, micronutrient fertilizers, and antibiotics to the B2C and B2B customers. It also manufactures and sells general insect and pest control chemicals for public and animal health protection applications; and offers crop…
- Headquarters
- Ahmedabad
- Employees
- 803
- Sector
- Basic Materials
- ISIN
- INE00OQ01016
- Website
- dharmajcrop.com
Price range
- Avg volume (3M)
- 57.5K
- 1-year return
- minus 5.2%
- From 52-week high
- minus 20.4%
Peers · Agricultural Inputs
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| COROMANDELCoromandel International | 1,824.00 | minus 4.00% | 53,724 | 34.5 | 17.0 | 20.9% | 9.4% | 0.11 | 10.2% | minus 12.4% |
| FACTFertilisers and Chemicals Travancore | 750.25 | minus 1.24% | 48,547 | – | 703.5 | 14.2% | 0.0% | 2.95 | 0.0% | minus 15.3% |
| UPLUPL | 534.90 | plus 1.60% | 45,214 | 23.9 | 6.0 | 9.9% | 20.0% | 0.83 | −1.2% | minus 28.0% |
| PIINDPI Industries | 1,735.00 | minus 1.98% | 26,321 | 30.0 | 13.1 | 14.7% | 24.2% | 0.03 | 1.1% | minus 51.9% |
| SUMICHEMSumitomo Chemical India | 328.95 | plus 0.34% | 16,419 | 29.4 | 21.0 | 21.0% | 20.3% | 0.02 | −2.6% | minus 34.4% |
| CHAMBLFERTChambal Fertilizers & Chemicals | 384.70 | minus 0.91% | 15,413 | 8.1 | 5.7 | 21.8% | 13.7% | 0.16 | −9.2% | minus 19.4% |
| BAYERCROPBayer Cropscience | 3,316.30 | plus 0.48% | 14,904 | 20.0 | 15.4 | 27.9% | 16.0% | 0.03 | 3.6% | minus 31.7% |
| DHARMAJDharmaj Crop Guard | 243.60 | minus 0.23% | 823 | 13.7 | 8.5 | 16.2% | 9.3% | 0.29 | 29.5% | minus 5.2% |
| Median of 7 peers | – | −0.91% | 26,321 | 26.6 | 15.4 | 20.9% | 16.0% | 0.11 | 0.0% | −28.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 367 | 347 | 190 | 234 | 382 | |
| 317 | 315 | 182 | 223 | 325 | |
| 50.7 | 31.8 | 7.3 | 10.6 | 57.4 | |
| 13.8% | 9.2% | 3.9% | 4.5% | 15.0% | |
| 0.8 | 0 | 3.2 | 4.4 | 1.1 | |
| 3.1 | 4.5 | 4.6 | 5 | 2.7 | |
| 4.7 | 4.8 | 4.9 | 4.8 | 4.9 | |
| 43.7 | 22.5 | 1 | 5.2 | 51 | |
| 25.5% | 23.1% | 22.3% | 24.2% | 25.3% | |
| 32.6 | 17.3 | 0.8 | 4 | 38.1 | |
| 9.64 | 5.13 | 0.22 | 1.17 | 11.28 |
Profit & loss
- Sales CAGR 3Y
- +29.5%
- Profit CAGR 3Y
- +26.7%
- EPS CAGR 3Y
- +18.3%
- ROE
- 13.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 522 | 653 | 949 | 1,136 | |
| – | +24.9% | +45.5% | +19.6% | |
| 474 | 588 | 872 | 1,023 | |
| 48.8 | 65 | 77 | 112 | |
| 9.3% | 10.0% | 8.1% | 9.9% | |
| 3.6 | 2.9 | 1.1 | −4 | |
| 2.2 | 3 | 11 | 10.2 | |
| 5.1 | 5.4 | 18.3 | 19.1 | |
| −7 | −2 | −3 | −6.5 | |
| 38.2 | 57.5 | 45.8 | 72.5 | |
| 29.7% | 22.8% | 23.9% | 24.6% | |
| 26.9 | 44.4 | 34.8 | 54.6 | |
| – | +65.2% | minus 21.5% | +56.9% | |
| 9.76 | 13.13 | 10.30 | 16.17 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 33.8 | 33.8 | 33.8 | 33.8 | |
| 281 | 326 | 361 | 415 | |
| 52.4 | 112 | 116 | 132 | |
| 64.7 | 92 | 223 | 260 | |
| 432 | 563 | 733 | 841 | |
| 136 | 311 | 313 | 316 | |
| 97.7 | 0.5 | 4.7 | 6.2 | |
| 0.5 | 0 | 0 | 0 | |
| 125 | 3 | 0.2 | 0.3 | |
| 72.5 | 249 | 415 | 519 | |
| 432 | 563 | 733 | 841 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −23.7 | 7.4 | 38.7 | 27.6 | |
| −191 | −62 | −32.9 | −29.3 | |
| 214 | 57.2 | −8.5 | 1.7 | |
| −0.5 | 2.6 | −2.8 | 0 | |
| −69.1 | −190 | −32.1 | −26.9 | |
| −92.8 | −183 | 6.6 | 0.7 | |
| −0.2 | – | – | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.