Dharmaj Crop Guard reports record revenue but net profit falls in FY25

Dharmaj Crop Guard Limited reported a record revenue from operations of ₹9,510.44 million for the financial year ended March 31, 2025, representing a 45.4% increase year-on-year. This growth was driven by increased demand in both branded formulations and institutional segments, coupled with deeper penetration across key regional markets. Gross margins also improved to 23% in FY25, up from 21% in FY24, reflecting effective cost management and scale efficiencies.

Despite the top-line growth, Net Profit for the year decreased to ₹348.36 million, a 22% decline from ₹443.76 million in FY24. This was primarily due to increased finance costs (₹128.97 million in FY25 versus ₹34.45 million in FY24) and higher depreciation and amortisation expenses (₹182.73 million in FY25 versus ₹54.36 million in FY24), largely associated with the commissioning and ramp-up of the Saykha Unit of Production.

Looking ahead to FY26, the company is optimistic about continued good performance, anticipating healthy monsoons and sustained demand. A strategic focus remains on scaling formulations and achieving EBITDA positive status for the Active Ingredients business. The 11th Annual General Meeting is scheduled for Thursday, September 25, 2025.