Dhanuka Agritech Q3 Review -Gross Margins Cushion Value Erosion, ITI To Drive Growth In FY25: Axis Securities

There was 567 bps YoY improvement in gross margins during the quarter largely on account product mix

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Axis Securities Report

Dhanuka Agritech Ltd. reported revenue of Rs 403 crore, up by 2.5% YoY and down by 35% QoQ, missing our estimate by 10%. Company reported Ebitda of Rs 62 crore, up by 20% YoY and down by 56% QoQ, inline with our estimate of Rs 63 crore.

Dhanuka reported Ebitda margin of 15.4%. Ebitda margins elevated due to better operating performance, against 13% YoY. Company beat our estimate on profit after tax front. PAT came in at Rs 45 crore, betting our estimate by 4.2%.

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Axis Securities Dhanuka Agritech Results Update.pdf
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Also Read: UPL Q3 Results Review - Global Headwinds Continue To Dent Revenue: Motilal Oswal

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