Dharmaj Crop Guard reports strong H1 FY26 growth despite monsoon issues

Dharmaj Crop Guard Limited announced its Q2 and H1 FY26 financial results, revealing revenue of INR 347 crores for Q2 FY26, a 12% year-on-year increase. H1 FY26 revenue reached INR 715 crores, marking 26% year-on-year growth. The company's Q2 revenue was sequentially lower than Q1 due to an early monsoon onset, which shifted some Q2 sales to Q1. Erratic monsoon patterns later in Q2 led to crop losses and subdued agrochemical demand.

Despite these challenges, the brand formulation business grew 17% year-on-year, and domestic institutional formulation increased 21% year-on-year for H1 FY26. The active ingredient segment also scaled up, posting 44% year-on-year growth in H1 FY26. Export institutional business, which faced issues last year, returned to growth with a 51% year-on-year expansion in H1 FY26. Net profit for H1 FY26 stood at INR 49.9 crores, up from INR 36.1 crores in H1 FY25. The company expects to achieve 20-25% overall growth for FY26, with an EBITDA margin increase of 1% to 1.5%, aiming for 9-9.5%.