### **Company Overview** Dhanuka Agritech Ltd is one of India’s leading agrochemical companies, focused on the manufacturing, marketing, and innovation of **branded formulated crop protection products**, including herbicides, insecticides, fungicides, plant growth regulators, and biologicals. The company operates with a **pan-India presence**, serving **over 10 million farmers** through a vast distribution network and strategic global partnerships. Listed on both the BSE and NSE, it has emerged as a key player in the domestic agrochemical space, with a strategic shift toward **global expansion** and **technology-driven agriculture** in recent years. --- ### **Key Highlights (Recent Developments as of Aug 2025)** #### **1. Strategic Expansion & Global Ambitions** - **Acquisition of Global Rights from Bayer AG:** Dhanuka acquired global manufacturing and sales rights to two high-potential fungicide molecules – **Iprovalicarb** and **Triadimenol** – along with the **Melody brand** and sub-brands. This allows Dhanuka to operate in **over 20 countries** across Latin America, Europe, Asia, Africa, and the Middle East, marking a major strategic pivot into international markets. - **Dahej Plant as Export Hub:** The Dahej chemical synthesis plant in Gujarat has commenced **commercial production of Bifenthrin Technical**, with plans to shift manufacturing of at least one acquired Bayer product to this facility. This backward integration supports **cost efficiency**, **global supply capabilities**, and **contract manufacturing (CRAMS)** opportunities. - **Export Division & Registrations:** Dhanuka has initiated regulatory registrations in **Brazil, the USA**, and other key markets. The company expects **significant export growth** beginning FY 2025–26, building on the strong foundation of existing registrations under the acquired Bayer portfolio. #### **2. Innovation & New Product Launches** - **Dinkar Herbicide Launch:** A new paddy herbicide, **Dinkar**, developed through collaboration with **Hokko Chemical Japan**, was launched in Q1 FY25–26. It has received **strong farmer response in South India**, with launch events held in **Tirupati, Hyderabad, and Mahabalipuram**. - **Future Launch Pipeline:** The company plans to launch **8 new products** over the next two years, primarily in the **margin-accretive Section 9(3)** category. This includes a **new herbicide for transplanted rice** to combat weed resistance. - **Recent Key Launches (FY24–25):** - **Purge (Fomesafen + Quizalofop-ethyl)** – Pre-emergence herbicide for soybean and groundnut (in collaboration with Nissan Chemical). - **LaNevo (Fluxametamide + Bifenthrin)** – Broad-spectrum insecticide for sucking and chewing pests; now among the **Top 10 products** by sales. - **MYCORe Super** – Premium **Arbuscular Mycorrhizal Fungi (AMF)** biofertilizer for enhanced root development and yield. - **Tizom, Roxa, Mesotrax, Defend, Semacia** – High-technology agrochemicals in herbicide and insecticide segments. #### **3. Manufacturing & R&D Infrastructure** - **Four Manufacturing Units:** Located in **Sanand, Dahej (Gujarat), Udhampur (J&K), and Keshwana (Rajasthan)**. Dahej is dedicated to **technical manufacturing** (e.g., Bifenthrin, Lambda Cyhalothrin). - **Dahej Chemical Synthesis Plant:** Operational since **FY 2023–24**, supported by a **fully equipped R&D lab** with **30 chemists** focused on process innovation and chemical synthesis R&D. - **NABL-Accredited R&D Labs:** Two accredited laboratories at Dahej and Sanand. Additional R&D centers include the **Dhanuka Agritech Research & Technology (DART) Center in Palwal, Haryana**, which supports product testing, crop trials, and farmer engagement. - **Focus Areas:** - Eco-friendly molecules, novel formulations, and bio-based inputs - Shelf-life extension, label expansions, and AI-driven crop modeling - **Digital R&D**: Use of artificial intelligence and data analytics for precision agriculture #### **4. Distribution & Market Reach** - **Unparalleled Pan-India Network:** - **41 Warehouses** - **6,500+ Distributors** - **80,000+ Retailers** Serves **over 10 million farmers** across all agro-climatic zones. - **Strong Techno-Commercial Team:** Supported by **over 1,000 trained field staff** responsible for farmer education, product demonstrations, and on-ground support. - **Digital & Direct Engagement:** - Over **200,000 YouTube subscribers** – **highest social media penetration** in the Indian agrochemical sector - Farmer webinars, **Kisan Chaupals**, and WhatsApp-based advisory via **Dhani AI chatbot** - Partnerships with **AgroStar, Gramophone, Plant It**, and other digital agristacks #### **5. Strategic Collaborations & Technology Adoption** - **Global Partnerships:** Active technical collaborations with **10 leading global agrochemical firms**, including: - **Nissan Chemical (Japan)** – Sempra, Purge, LaNevo - **Hokko Chemical (Japan)** – Zanet, Dinkar - **Corteva, FMC, Syngenta, Mitsui Chemicals, Bayer AG** - **Biologicals & Sustainable Agriculture:** - Re-launched **Biologiq** portfolio: includes **Whiteaxe, Nemataxe, Downil, Sporenil, Myconxt, Omninxt** - Focus on **integrated Pest & Nutrition Management (IPNM)** with **4R principles** (Resistance, Residue, Resurgence, Soil Rejuvenation) - Strategic intent to expand biologicals segment, currently <5% of ag input market but growing at 18–20% CAGR - **Precision Agriculture & Digital Tools:** - Partnerships with drone manufacturer **IoTechWorld Avigation** (invested Rs. 20 crores) - Uses **drones for product application** and farmer education - Investments in **digital dealer platforms, supply chain analytics, and intelligent forecasting** #### **6. Business & Financial Performance** - **Revenue Milestone:** - Achieved **₹2,035 crores revenue in FY 2024–25**, crossing the **₹2,000 crore threshold**. - **Herbicides** emerged as the largest contributor (**50% of sales**) in Q1 FY25–26, followed by insecticides (23%), fungicides (11%), and others (16%). - **Geographic Sales Mix (Q1 FY25–26):** - **West India**: 41% - **North India**: 31% - **South India**: 19% - **East India**: 9% - **“Others” Segment Growth:** Includes **technical chemicals, PGRs, and traded brands** (e.g., **TORNADO, Dabooch, Nabood, Largo**), showing **double-digit growth**. - **Royalty Income:** Generated **₹13 crores** in FY24–25 from two products acquired from Bayer. - **Export Potential:** TAM for the two Bayer-acquired molecules estimated at **$100 million globally**; Dhanuka expects **₹110 crores revenue** from these products in FY25–26. #### **7. Crop-Centric Focus & Portfolio** - **Product Portfolio:** - **~90 distinct products**, backed by **300+ regulatory registrations** - Revenue mix: ~1/3 from **partnerships**, 1/3 from **generics**, 1/3 from **specialty products** - Targeting increase in **partnership-derived revenue to 33–36%** - **Top Performers:** - **Sempra** (10-year collaboration with Nissan) – ₹50 crores revenue, 25 MT volume - **Targa Super** – 25 years of Japan collaboration - **Decide, Lustre, Conika, Vitavax, Godiwa Super**, etc. #### **8. Sustainability & Farmer Engagement** - **Farmer-Centric Outreach:** - Conducts **Kisan Chaupals** (60+ events, 10,000+ farmers engaged) - Runs live webinars and collaborates with **Krishi Vigyan Kendras (KVKs), ICAR**, and **State Agricultural Universities** - First agrochemical company to partner with **MANAGE** under PPP for **Diploma in Agricultural Extension Services (DAESI)** - **R&D with Public Institutions:** MoUs with **ICAR, ANGRAU, MPKV, SKRAU**, and others for joint research and capacity building. - **Climate-Resilient Farming:** Invests in **low-residue, eco-friendly formulations**, and **digital ag** tools to support sustainable productivity. #### **9. Future Outlook (FY2025–26 & Beyond)** - **Growth Drivers:** - Strong **9(3) and 9(4) product pipeline** - **Monsoon performance** remains a key factor, with FY25–26 benefiting from **La Niña-induced favorable rainfall** - **Global expansion** through Bayer portfolio and Dahej-manufactured exports - **Strategic Goals:** - Scale **Bayer-acquired molecules** to international markets - Transition more **active ingredients and formulations** to **in-house manufacturing** - Expand **digital adoption, CRAMS services, and bio-inputs** - **Long-Term Vision:** To position Dhanuka as a **global integrated crop solutions provider** – combining **chemistry, biology, and digital tools** to drive farm income, food security, and environmental sustainability. ---