Dharmaj Crop Guard Posts Stellar Q1 Profit Rebound on Strong Revenue Jump
Agrochemicals maker Dharmaj Crop Guard saw profit jump 16.9% YoY and a massive 860% QoQ as revenue surged and margins expanded.
Dharmaj Crop Guard reported a robust start to FY27, with Q1 profit soaring 860% sequentially on a 64% revenue jump. Net profit margin rebounded to double digits.
Dharmaj Crop Guard delivered a powerful earnings rebound in the first quarter of FY27, with profit surging both year-on-year and, more dramatically, quarter-on-quarter. This performance was driven by a strong seasonal uptick in revenue and a significant recovery in profitability, marking a sharp turnaround from the subdued preceding quarter.
The company's revenue for Q1 FY27 came in at ₹382.38 crore, a 4.1% increase over the same quarter last year. More notably, sales jumped 63.6% compared to the previous quarter (Q4 FY26), reflecting a strong seasonal upturn. Profit after tax (PAT) showed even greater strength, rising 16.9% year-on-year to ₹38.11 crore. The sequential comparison is stark: profit skyrocketed by 859.9% from a low base of ₹3.97 crore in Q4 FY26. This translated into a net profit margin of 10.0%, a healthy expansion from 8.9% a year ago and a major recovery from 1.7% in the prior quarter.
A look at the last five quarters reveals the volatility and seasonality in the agrochemicals business, with Q1 FY27 emerging as a clear high point for both sales and profitability.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
| Metric | CurrentQ1 FY27 | PreviousQ4 FY26 | Same quarter LYQ1 FY26 |
|---|---|---|---|
| Period | Quarter ended June 2026 | Quarter ended March 2026 | Quarter ended June 2025 |
| Revenue (₹ Cr) | 382.38YoY +4.1% | 233.78 | 367.38 |
| Profit (₹ Cr) | 38.11YoY +17% | 3.97 | 32.59 |
| Net Profit Margin | 10.0%YoY +12% | 1.7% | 8.9% |
Key Points
- The trailing-twelve-month (TTM) net profit margin stands at 5.2%, indicating the Q1 performance is a significant positive outlier for recent profitability.
- The company maintains a conservative balance sheet with a low debt-to-equity ratio of 0.29.
- Despite the strong quarterly earnings, the stock trades at a P/E of 17.6, a 35% discount to the industry average P/E of 27.1.
The robust Q1 sets a positive tone for FY27, though sustaining this level of margin performance will be the key challenge as the company moves through its annual cycle.
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· DHARMAJ
(BSE)
ISIN: INE00OQ01016
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