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Dolat Capital Report
Dhanuka Agritech Ltd. registered a revenue growth of 20.7% YoY to Rs 3.6 billion driven largely by volumes which grew by 18% YoY.
Gross margins saw a dip of 207 bps YoY to 35.1% impacted by higher prices of technicals.
Ebitda grew by 9.6% YoY to Rs 550 million (our estimate: Rs 640 million) registering an Ebitda margin contraction of 157 bps YoY to 15.4%.
Higher input, freight and utility costs had a negative bearing on the operating margin.
Dhanuka Agritech's profit after tax saw a modest growth of 6.2% YoY to Rs 425 million (our estimate : Rs 493 million).
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