Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 17 Sep - CARE reaffirmed Dhanuka Agritech’s bank facility ratings at CARE AA; Stable and CARE A1+ for ₹63 crore.
Source: Bse
Dhanuka Agritech Limited (DHANUKA)
Small CapIndustrials stocks · Small cap · NSE
Dhanuka Agritech Limited operates in Agrochemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result03 Aug, 08:03 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
33Bearishfull bear SMA stack · SMA20 -7.4% / mo · RSI oversold · MACD − · near 52W low
Stock trend: 22
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
DHANUKAD candles · FIT view-18.8%Latest close ₹862.50 on 2026-10-19
Bar
-0.7%
RSI
30
MACD hist
-2.60
52W pos
3%
2026-10-19O ₹868.50H ₹870.00L ₹854.00C ₹862.50Vol 21,914 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
DHANUKANifty India ManufacturingNifty 500
- DHANUKA
- -14.9%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -9.3 pp
Chart stats
19 Oct 2026- From 52W high
- -42.7%
- 52W range position
- 3%
- ATR (14)
- 2.8%
- Volume vs 20D
- 0.77x
- Avg traded value
- ₹2.6 Cr
- 20D price channel
- ₹843.1 - ₹992
₹1,504.9
₹843.1 - ₹1,504.9
₹23.9
Latest completed session
20-session average
23.0% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE76
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -12.5% · PAT -35.7% YoY
Technical
Bearish33
Price trend and sector-relative-strength timing.
Valuation
Legacy model+66.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence76
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -13% YoY · PAT -36% YoY · margin compression
Filed 03 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹462 Cr | -12.5% | -4.3% |
| EBITDA | ₹55 Cr | -33.7% | -56.0% |
| Operating margin | 12.0% | -400 bps | -1400 bps |
| PAT | ₹36 Cr | -35.7% | -63.3% |
| PAT margin | 7.8% | -282 bps | -1250 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 13.90
- P/B
- 2.92
- EV/EBITDA
- 8.73
- Market Cap
- 4045.00Cr
Profitability
- ROE
- 22.00%
- ROCE
- 28.30%
- ROA
- 16.50%
- Dividend Y
- 0.22%
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 16.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 12.00%
Balance Sheet
- Debt/Equity
- 0.05
- Interest Coverage
- 83.40×
- Altman Z
- 9.11
- Book Value
- 311.00
Cash Flow
- FCF Yield
- 2.97%
- FCF Positive Y
- 12/5
- OCF
- 263.00 Cr
- EPS TTM
- 65.88
Shareholding
- Promoter Hold
- 69.81%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 2%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 462-4.3% vs prev
Net Profit
₹ CrLatest: 36.0-63.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 30. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~8.0% over last month) — short-term momentum negative.
- RSI(14) at 30 — oversold zone; bounce conditions.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 5% of 52-week low — testing support.
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
17
RS percentile
Stage 4 Downtrend
1M return
-11.4%
3M return
-14.9%
6M return
-17.6%
1Y return
-39.7%
RS 1D
-1
RS 20D
-4
Sector rank
#2
Industry rank
#54
Stage evidence
- Price is 15.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 58.37+0.33%
RS vs Nifty 50058
Valuation & peers
U-Score 76 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 76 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation18/30
Growth17/25
Quality16/20
Balance Sheet11/15
Cash Flow8/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
76
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
76/100 · legacy band DEEP VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 66.7%.
- Quality contributes 16/20 to the score.
Main drags
- Valuation is weaker at 18/30; verify the latest quarterly trend.
- Growth is weaker at 17/25; verify the latest quarterly trend.
- Balance sheet is weaker at 11/15; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
13.9
PB
2.9
EV/EBITDA
8.7
ROE
22.0%
ROCE
28.3%
FCF Yield
3.0%
Debt/Equity
0.1
MoS
+66.7%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
76
Previous: 76
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+66.7%
Previous: +66.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
76
76
76
76
76
76
76
76
76
76
76
76
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹678.97
-27.0% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹2,589.08
+66.7% MoS
PEG
0.97
Comparable companies
Peers
Business-comparable peers in Industrials — 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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GSPCROP
Small
GSP Crop Science Limited
Agrochemicals
match 165
46
20.3
16.5%
+1%
FAIR VALUE
BHAGCHEM
Small
Bhagiradha Chemicals & Industries Limited
Agrochemicals
match 164
16
108.0
2.6%
-1678%
OVERVALUED
IPL
Small
India Pesticides Limited
Agrochemicals
match 163
46
13.8
12.5%
-110%
FAIR VALUE
EXCELINDUS
Small
Excel Industries Limited
Agrochemicals
match 162
46
16.1
4.6%
-80%
FAIR VALUE
DHARMAJ
Small
Dharmaj Crop Guard Limited
Agrochemicals
match 162
48
15.0
13.3%
+65%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Dhanuka Agritech Limited operates in Agrochemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
76Limited 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 81st percentile of the scored universe and 79th percentile within Industrials. Main check: results consistency is weak at 15/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
128 docs text-extracted · 56 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
81st percentile
overall median 67 · Industrials: 79th pctile, median 68 · Small: 83rd pctile, median 66
Evidence depth
Financial-only
128 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 confidenceWhat 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
Can support position sizing if valuation and trend also agree.
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
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
15
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 69.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.7%.
- ▸12 years of positive FCF.
Trust risks
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Dhanuka Agritech Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Jul - Copy of Newspaper Publication- Notice of 41st Annual General Meeting of the Company and E-voting
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 19 Jun - Submission of Post Buyback Offer Public Advertisement As per Regulation 24(vi) of the SEBI (Buyback of Securities) Regulations, 2018 in respect of ....
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Jun - Submission of Newspaper Advertisement pertaining to Public Notice for the Buyback of Fully Paid-up Equity Shares by the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Jun - Copy of Newspaper Advertisement of notice to the Equity Shareholders regarding proposed Transfer of Unpaid/Unclaimed Dividends and Equity shares of the Company to Investor Education …
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.