New Delhi, 14th November 2018: Dhanuka Agritech Limited, one of India’s leading agrochemical formulations Company, listed on the Bombay Stock Exchange of India (BSE: 507717) and National Stock Exchange (NSE: DHANUKA), announced today its Q2 and half yearly financial results for FY 2018-19.
For H1 of Financial Year 18-19 ended on 30th September 2018, the Company has registered a growth of 4.69% in Turnover in comparison to same period last year.
The company has reported 10.39% growth in terms of Turnover and 4.22% growth in its net profit for the quarter ended on 30th September 2018 in comparison to same quarter last Year. EBITDA of the Company stands at 78.01 Crore for Q2 FY19.
Speaking on the results and performance of the Company, Mr. M. K. Dhanuka, Managing Director, Dhanuka Agritech, said, “The Company’s financial performance in Q2 and first half of this year has been satisfactory, with 10.39% growth in turnover. The growths of Company have been impacted due to deficit rainfall (91%) and its uneven distribution.
He further added, “Dhanuka Agritech believes that Indian farmers have a bright future. We have been promoting the adoption of modern farming techniques, which will increase farm productivity manifold. We have educated and guided farmers at the grass-root level and have shown them techniques to reap beneficial results. Recently, for such initiatives, our company have been awarded with ‘Company of the Year’ award in ‘India Chem’ – the largest event of the chemical and petrochemical industry in India. Going forward, we will continue to build on this success and work for the upliftment of the farming community in India.”
He further added in order to return surplus funds to the shareholders of the Company, the Board of Directors have decided to recommend the Buy-Back aggregating to an amount not exceeding Rs. 82.50Crores (Rupees Eighty two crore fifty lacs only) at a price not exceeding Rs. 550/- (Rupees Five Hundred Fifty Only) per Equity Share of Rs. 2/- (Rupees Two Only) each. The Proposed Buy back shall be subject to shareholder’s approval and other statutory and regulatory approvals.
