Dharmaj Crop Guard Ltd (DHARMAJ) — shareholding pattern, promoter holding, financials and share price
About Dharmaj Crop Guard Ltd (DHARMAJ)
Dharmaj Crop Guard Ltd operates in the Pesticides & Agrochemicals industry, within the Chemicals sector. It trades on the NSE as DHARMAJ and on the BSE under scrip code 543687. Its ISIN is INE00OQ01016.
Incorporated in 2015, Dharmaj Crop Guard manufactures and deals in pesticides including concessionaires of public health products for pest control, insecticides, herbicide, fertilizers and allied products related to research and technical formulations [1]
Dharmaj Crop Guard Limited is an integrated Indian agrochemical company manufacturing and marketing crop-protection solutions, including branded formulations, domestic and export institutional formulations, active ingredients (technicals), and public-health and animal-health chemicals, supported by multiple manufacturing units in Gujarat and a distribution network of dealers, distributors and retail touchpoints across India.
Q3FY26 showed mixed outcomes: revenue grew 9% year-on-year to ₹1,895 million, but EBITDA and PAT contracted due to a softer formulations mix and a one-time ₹4.75 million labour-code provision, resulting in a Q3 EBITDA margin of 3.9% and PAT margin of 0.4%, while 9MFY26 displayed stronger scale with revenues up 22% and PAT up 36% versus 9MFY25.
Listed peers in Pesticides & Agrochemicals: Meghmani Organics Ltd, Heranba Industries Ltd, Advance Agrolife Ltd, Best Agrolife Ltd, KN Agri Resources Ltd, Indogulf Cropsciences Ltd.
Valuation & Returns
10 Jul 2026At ₹259.7 a share on 10 Jul 2026, Dharmaj Crop Guard Ltd (DHARMAJ) was valued at a price-to-earnings ratio of 16.06x against an industry P/E of 22.12x and a price-to-book of 2.23x on a book value of ₹116.7 per share as of Mar 2025. Solomo computes return on equity of 13.86% and return on capital employed of 17.59% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 16.06x
- Industry P/E
- 22.12x
- P/B
- 2.23x
- EPS (TTM)
- ₹16.17
- Book value / share
- ₹116.7
- ROE
- 13.86%
- ROCE
- 17.59%
- ROA
- 7.45%
- Debt / equity
- 0.29x
- Dividend yield
- 0%
- EBITDA margin
- 9.56%
- 52-week range
- ₹211.05 – ₹391.25
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Dharmaj Crop Guard Ltd (DHARMAJ) reported revenue of ₹1,138 crore, net profit of ₹55 crore and earnings per share of ₹16.17. That compares with revenue of ₹951 crore and net profit of ₹35 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹233.78 crore and net profit ₹3.97 crore (consolidated).
| Metric | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue (₹ cr) | 654 | 951 | 1,138 |
| Net profit (₹ cr) | 44 | 35 | 55 |
| EPS (₹) | 13.13 | 10.31 | 16.17 |
| Measure | 5Y | 3Y | 1Y |
|---|---|---|---|
| Sales growth | 36.84% | 34.12% | 45.40% |
| Profit growth | 26.49% | 6.68% | -21.52% |
| Stock price CAGR | - | 15% | -23% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 70.4% of Dharmaj Crop Guard Ltd (DHARMAJ) (unchanged from the previous quarter), foreign institutional investors (FII) hold 3.13% and domestic institutional investors (DII) hold 0.5%. Market capitalisation was ₹878 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Dec 2022.
Largest disclosed public shareholders in Jun 2026: Gymkhana Partners L.P. 1.56%, Unico Global Opportunities Fund Limited 1.48%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 70.4% | - | 3.13% | 0.5% | 29.6% |
| Mar 2026 | 70.4% | - | 3.13% | 0.47% | 29.6% |
| Dec 2025 | 70.4% | - | 3.49% | 0.47% | 29.6% |
| Sep 2025 | 70.4% | - | 3.09% | 0.47% | 29.6% |
| Jun 2025 | 70.4% | - | 3.58% | 0.47% | 29.6% |
| Mar 2025 | 70.4% | - | 4.14% | 0.47% | 29.6% |
| Dec 2024 | 70.4% | - | 3.77% | 0.91% | 29.6% |
| Sep 2024 | 70.4% | - | 4.4% | 0.61% | 29.6% |