Dhanlaxmi Crop Science Ltd. (DHANLAXMI)

SME Cap

Dhanlaxmi is a technology-driven seeds company with 18+ years of experience in the Indian seeds industry. It develops, produces, processes, and sells seeds for 36 field crops and vegetables, combining traditional breeding with advanced biotechnology for higher yields and pest resistance. Operations span five states, with HQ and R&D in Himmatnagar, Gujarat.

₹24.7

-2.30 · -8.52%

Market cap ₹40.3 Cr

Data qualityFresh enough for analysisQuote updated 19 Oct, 05:56 pm IST

Details

Quote19 Oct, 05:56 pm IST

Base fundamentals20 Oct 2026 · screener

Latest result01 Jun, 07:53 pm IST

Score20 Oct, 04:19 pm IST · v4.3-runtime-valuation

Tags24 Apr 2026

Coverage12/14 · 86%

Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)

Technical timing lens

Trend score and candlestick chart

45Neutral

SMA20 +2.2% / mo · MACD + · near 52W low · sector -3.7pp vs Nifty 500 (3M)

Stock trend: 52

Sector RS: 36

Sector 3M: -9.3% vs Nifty 500 -5.6%

Consumer FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Compare peers →

Technical chart

DHANLAXMID candles · FIT view-22.7%

Latest close ₹24.70 on 2026-10-19

Bar

-8.5%

RSI

MACD hist

0.00

52W pos

21%

2026-10-19O ₹27.00H ₹27.00L ₹24.70C ₹24.70Vol 28,000 sh

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

DHANLAXMINifty Consumer DurablesNifty 500

DHANLAXMI: +5.8%
Nifty 500: -5.6%
Nifty Consumer Durables: -9.7%
Vs Nifty 500: +11.4 pp

Chart stats

19 Oct 2026

From 52W high: -46.1%
52W range position: 18%
ATR (14): 6.5%
Volume vs 20D: 1.29x
Avg traded value: ₹0.1 Cr
20D price channel: ₹22 - ₹28

Quarter ended 31 Mar 2026

Bad · 22

margin compression · Rev +80% YoY

Revenue: ₹9.3 Cr; YoY +79.6%
PAT: ₹-5.1 Cr; YoY NDF
Operating margin: -63.1%; QoQ -8713 bps
PAT margin: -54.9%; QoQ -7105 bps

Filed 31 Mar 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 4 Downtrend

Current trend context ranked against all active NSE stocks. It describes the chart; it is not a buy or sell signal.

RS percentile: 21; +15 ranks over 20D
Stage 2 entry: Not in Stage 2; Current classification: Stage 4 Downtrend
Sector rotation: #9; neutral · 495 stocks
Industry rotation: —; Fewer than five rank-eligible peers

Trend structure

Below 20-DMABelow 50-DMABelow 200-DMA

RSI (14)

Neutral momentum

MACD

Above signal

Histogram +0.00

Volume participation

1.3x average

Versus 20-session average

20-session position

45% of range

₹22 low · ₹27.95 high

Relative performance

vs Nifty 500

1M: +6.4 pp; stock +2.9%
3M: +11.4 pp; stock +5.8%
6M: -9.2 pp; stock -13.3%
1Y: -30.7 pp; stock -37.8%

From 52W high

-41.3%

High ₹42.1

52W range position

21%

₹20.05 - ₹42.1

ATR (14)

6.5%

₹1.6

Avg traded value

₹0.1 Cr

20-session average

Current setup

No confirmed setup attached

Review the chart and detailed technical evidence before drawing a conclusion.

Open detailed technicals →

Research snapshot

What the evidence says now

Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.

Suggested next step

Check latest quarters

Result consistency is weak; verify whether the thesis is improving or deteriorating.

U-Score

Legacy · OVERVALUED

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 31 Mar 2026

Bad · 22/100

margin compression · Rev +80% YoY

Filed 31 Mar 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹9.3 Cr	+79.6%	-67.6%
EBITDA	₹-5.9 Cr	NDF	-185.0%
Operating margin	-63.1%	NDF	-8713 bps
PAT	₹-5.1 Cr	NDF	-210.6%
PAT margin	-54.9%	NDF	-7105 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: —
P/B: 0.89
EV/EBITDA: 32.41
Market Cap: 40.30Cr

Profitability

ROE: -1.07%
ROCE: 0.93%
ROA: -0.77%
Dividend Y: —

Growth (CAGR)

Revenue 5Y: 16.00%
EPS 5Y: 16.00%
Revenue 3Y: -6.00%
EPS 3Y: 14.00%

Balance Sheet

Debt/Equity: 0.23
Interest Coverage: 1.07×
Altman Z: 2.86
Book Value: 27.80

Cash Flow

FCF Yield: —
FCF Positive Y: 2/5
OCF: -13.82 Cr
EPS TTM: -0.30

Shareholding

Promoter Hold: 73.97%
Promoter Pledge: 0.00%
Momentum 52W: 21%

Financial History

Updated 20/10/2026

Revenue

₹ Cr

Latest: 38.1-70.5% vs prev

Net Profit

₹ Cr

Latest: -0.5-105.6% vs prev

Return on Equity

Latest: -1.1-105.7% vs prev

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term trend down. RSI 46. Wait for confirmation.

Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
SMA20 rising (~2.2% over last month) — short-term momentum positive.
RSI(14) at 46 — falling, no extreme reading.
MACD above signal but histogram contracting — bullish momentum cooling.
41% off 52W high · 23% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 4 Downtrend

1M return

+4.7%

3M return

-16.8%

6M return

+0.8%

1Y return

-44.5%

RS 1D

-11

RS 20D

+15

Sector rank

Industry rank

Stage evidence

Price is 8.6% below the 30-week proxy.
The 50-DMA is below the 30-week proxy and its slope is falling -2.2%.

50-DMA

price below

200-DMA

price below

Sector

neutral

Industry

unranked

Relative-strength line vs Nifty 500 (base 100)

224 observations

19 Oct 2026Value 58.04-7.58%

RS vs Nifty 50058

Valuation & peers

U-Score 16 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

OVERVALUED

Fundamental score breakdown

U band · OVERVALUED

Valuation5/30

Growth9/25

Quality0/20

Balance Sheet8/15

Cash Flow1/10

Piotroski

3/9 (+1)

Penalties

-8

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

16/100 · legacy band OVERVALUED

Positive drivers

Balance sheet contributes 8/15 to the score.
Growth contributes 9/25 to the score.
Valuation contributes 5/30 to the score.

Main drags

Penalty bucket subtracts 8 points.
Quality is weaker at 0/20; verify the latest quarterly trend.
Cash flow is weaker at 1/10; verify the latest quarterly trend.

Sector valuation model

Consumer valuation: PE/PEG and brand-quality premium

Consumer franchises can deserve higher multiples, but only when growth quality supports them.

Consumer PE/PEG

Primary lens

PE and PEG relative to growth, ROE, margins, and brand strength.

Secondary checks

Volume growth, pricing power, distribution, same-store or category growth.

Main risk check

Premium valuation needs durable growth and margin resilience.

—

0.9

EV/EBITDA

32.4

ROE

-1.1%

ROCE

0.9%

FCF Yield

—

Debt/Equity

0.2

MoS

—

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 20 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 16

Legacy U-Score band

OVERVALUED

Previous: OVERVALUED

Margin of safety

—

Peers

Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

VISHWAS

SME

Vishwas Agri Seeds Ltd.

Nirman Agri Genetics Ltd.

Continental Seeds and Chemicals Ltd.

Upsurge Seeds of Agriculture Ltd.

Bombay Super Hybrid Seeds Limited

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis under stressReviewed 2026-07-01T13:20:04.904Z

Management commentary snapshot

FY25 revenue surged 103% YoY to Rs. 12,962.34 lakhs, with PAT up 85.5% to Rs. 867.97 lakhs. However, H2FY25 saw a significant decline, with revenue down 45.9% YoY and PAT turning negative to Rs. -283.85 lakhs, attributed to business seasonality.

Despite strong annual FY25 growth, the sharp H2FY25 decline to negative profitability raises concerns. Management attributes this to seasonality, with 95% revenue in H1. The extent of the H2 loss, however, suggests potential underlying issues or significant working capital swings that need scrutiny beyond just seasonality.

Growth engines

Crop Portfolio Diversification

Diversifying crop portfolio from primarily cotton to include maize, wheat, regular and hybrid paddy, and soybean for sustainable growth.

Geographic Expansion

Exploring and targeting new states and emerging markets to secure higher business volumes in the future.

Enhanced Cotton Profitability

Shifting focus toward enhancing per-packet profitability in cotton to drive better margins.

Advanced R&D

Portfolio benefits from advanced R&D combining traditional breeding with biotechnology for high-yield, pest-resistant varieties.

Tailwinds

Growing Indian Agriculture Sector

Indian agriculture sector expanded by 4.6% in FY24-25, propelled by favorable monsoon conditions and increased crop yields.

Government Support

Budget for Department of Agriculture and Farmers’ Welfare increased to Rs. 1,22,528.77 crore (US$ 14.13 billion) in 2024-25.

Seed Market Growth

India Seed Market estimated at 3.82 billion USD in 2025, expected to reach 5.01 billion USD by 2030, growing at a CAGR of 5.56%.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare BOTH

The company explicitly states its business is highly seasonal, with ~95% of revenue generated in H1 (April-September). Therefore, both YoY (for annual growth and H2 comparison) and QoQ (for sequential momentum within the seasonal cycle) comparisons are crucial to understand performance.

Sector KPIs management disclosed

Total Revenue

Rs. 12,962.34 Lakhs in FY25, up from Rs. 6,375.08 Lakhs in FY24 (YoY growth of 103%).

EBITDA

Rs. 1,265.33 Lakhs in FY25, up from Rs. 692.04 Lakhs in FY24 (YoY growth of 82.8%).

PAT

Rs. 867.97 Lakhs in FY25, up from Rs. 467.82 Lakhs in FY24 (YoY growth of 85.5%).

EBITDA Margin

9.76% in FY25, down from 10.86% in FY24.

Management forward view

Focus on Cotton Profitability

Management aims to enhance per-packet profitability in cotton to drive better margins.

Crop Diversification Strategy

Management plans to diversify crop portfolio beyond cotton to include maize, wheat, paddy, and soybean for sustainable growth.

Geographic Expansion

Management intends to explore and target new states and emerging markets to secure higher business volumes.

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
H2 Profitability	PAT of Rs. -283.85 lakhs in H2FY25.	Improvement in H2 profitability and reduced losses in the seasonally weaker half, indicating better cost management or diversified revenue streams.
Crop Diversification Progress	Primarily cotton-focused, with stated intent to diversify into maize, wheat, paddy, soybean.	Explicit revenue contribution from new crops and reduced reliance on cotton in future disclosures.
Geographic Expansion	Operations in five states, targeting new states.	Disclosure of new state entries and their contribution to overall sales volume.
EBITDA/PAT Margins	FY25 EBITDA margin 9.76%, PAT margin 6.70% (down YoY).	Stabilization or improvement in annual margins, especially given the focus on per-packet profitability in cotton.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score

50Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 7th percentile of the scored universe and 9th percentile within Consumer. Main check: financial discipline is weak at 22/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026

management-trust-v1

2 docs text-extracted · 0 concalls text-extracted

Score band

Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank

7th percentile

overall median 67 · Consumer: 9th pctile, median 66 · SME: 7th pctile, median 64

Evidence depth

Financial-only

2 documents have extracted text, but claim history is not strong enough yet.

Claim delivery

Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence

What it measures

Reliability of management and financial delivery, using financial behaviour only.

Confidence

Treat this as an early read until more concalls and outcomes are matched.

Investor use

Needs extra due diligence; demand valuation comfort and recent improvement.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter

strong · holding, pledge, alignment

Cash flow

weak · profit to cash conversion

Balance sheet

watch · leverage and solvency

Discipline

weak · capital discipline

Results

watch · quarterly consistency

Trust positives

▸Promoter holding is 74%.
▸Promoter pledge is zero.

Trust risks

▸Operating cash flow is negative at ₹-14 Cr.
▸Interest coverage is 1.1x.
▸ROCE is low at 0.9%.
▸ROE is low at -1.1%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Compare Consumer stocks Browse Indian stocks starting with D Explore fundamental stock screeners Browse Indian investment themes

Related companies

Vishwas Agri Seeds Ltd. (VISHWAS)Nirman Agri Genetics Ltd. (NIRMAN)Continental Seeds and Chemicals Ltd. (CONTI)Upsurge Seeds of Agriculture Ltd. (USASEEDS)Bombay Super Hybrid Seeds Limited (BSHSL)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

Source: Nse

Open source ↗

31 Mar 2025

Annual reportMar 2025

Mar 2025 · Annual Report 2025

Source: Nse

Open source ↗

Verify on:NSE India ↗

All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.

Dhanlaxmi Crop Science Ltd. (DHANLAXMI)

Trend score and candlestick chart

Technical chart

Relative performance and chart statistics

What the evidence says now

Financials

Quarter ended 31 Mar 2026

Fundamentals

Valuation

Profitability

Growth (CAGR)

Balance Sheet

Cash Flow

Shareholding

Revenue

Net Profit

Return on Equity

Technicals

Daily technical trend read

Relative Strength & Trend Stage

Valuation & peers

Fundamental score breakdown

Why this score?

Positive drivers

Main drags

Consumer valuation: PE/PEG and brand-quality premium

Stored run vs live recompute

Score history

Factor attribution

Modelled fair value

Comparable companies

Business, management & trust

Where growth can come from, and what can break the case

Crop Portfolio Diversification

Geographic Expansion

Enhanced Cotton Profitability

Advanced R&D

Growing Indian Agriculture Sector

Government Support

Seed Market Growth

What management said, and what results must prove

Total Revenue

EBITDA

PAT

EBITDA Margin

Focus on Cotton Profitability

Crop Diversification Strategy

Geographic Expansion

Numbers and claims to verify in the next filings

How to read this Trust Score

Forensic breakdown

Trust positives

Trust risks

Continue researching Dhanlaxmi Crop Science Ltd.

Important announcements & filings

Shareholders meeting 30 Sep - Signature details only; no substantive announcement information provided.

Shareholders meeting 30 Sep - Document contains only signature blocks and no substantive announcement.

Trading Window 28 Sep - Digitally signed document metadata only; no substantive announcement text.

Press Release 1 Aug - No substantive announcement; only a digitally signed signature block.

Appointment 30 Jul - Only digital signature metadata is visible; no announcement details.

Reply to Clarification- Financial results 14 Jul - Digitally signed document metadata only; no substantive announcement.

Apr 2026 · Statement of deviation(s) or variation(s) under Reg. 32 21 April 2026 - No substantive announcement content provided.

Apr 2026 · Structural Digital Database 14 April 2026 - Submitted SDD compliance certificate for quarter and year ended 31 March 2026.

Mar 2026 · Annual Report 2026

Jun 2025 · PPT

Mar 2025 · Annual Report 2025