Dharmaj Crop Guard Ltd. (IN:DHARMAJ)
:DHARMAJ
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Dharmaj Crop Guard Ltd.
(DHARMAJ)
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Rating:62Neutral
Price Target:
₹298.00
▲(24.58% Upside)
Action:Reiterated
Date:05/31/26
The score is mainly constrained by weak and volatile cash flow (including negative free cash flow) and margin compression despite strong revenue growth. Technicals are supportive with price above major moving averages and positive momentum indicators, while valuation is moderate with a ~20 P/E and no dividend yield data to add support.
Positive Factors
Revenue Growth
Sustained top-line expansion indicates successful market penetration and product uptake across cycles. Scaling revenues provide a base for fixed-cost leverage, broader distribution reach and potential margin recovery if raw-material and pricing pressures are managed, supporting durable growth options.
Negative Factors
Weak Cash Generation
Operating cash flow materially trails reported profits and free cash flow is frequently negative, indicating working-capital intensity or investment strain. Persistent weak cash conversion raises refinancing and liquidity risk, constraining capex, registrations and shareholder returns over months to years.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained top-line expansion indicates successful market penetration and product uptake across cycles. Scaling revenues provide a base for fixed-cost leverage, broader distribution reach and potential margin recovery if raw-material and pricing pressures are managed, supporting durable growth options.
Read all positive factors
Dharmaj Crop Guard Ltd. (DHARMAJ) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.95B
Dividend YieldN/A
Average Volume (3M)4.33K
Price to Earnings (P/E)16.4
Beta (1Y)1.16
Revenue Growth19.65%
EPS Growth56.90%
CountryIN
Employees582
SectorServices
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)14.39
Shares Outstanding33,797,295
10 Day Avg. Volume4,995
30 Day Avg. Volume4,329
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)1.73
Price to Sales (P/S)0.68
P/FCF Ratio-61.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dharmaj Crop Guard Ltd. Business Overview & Revenue Model
Company Description
Based in Ahmedabad, India, Dharmaj Crop Guard Limited operates as a key player in the Indian agrochemical sector. The company specializes in the production, supply, and marketing of a diverse array of agricultural chemical solutions. These include...
How the Company Makes Money
DHARMAJ primarily makes money by selling agrochemical crop protection and related agricultural inputs, with revenue recognized from product sales to distributors, dealers, institutional/B2B customers, and export buyers. Its key revenue streams are...
Dharmaj Crop Guard Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
74
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.99B | 11.38B | 9.51B | 6.53B | 5.22B | 3.92B |
| Gross Profit | 2.21B | 1.83B | 2.07B | 1.35B | 904.92M | 768.63M |
| EBITDA | 981.45M | 1.00B | 769.27M | 660.78M | 456.35M | 464.83M |
| Net Income | 486.49M | 546.46M | 348.25M | 443.76M | 268.60M | 286.90M |
Balance Sheet | ||||||
| Total Assets | 9.56B | 8.41B | 7.33B | 5.63B | 4.32B | 2.20B |
| Cash, Cash Equivalents and Short-Term Investments | 66.94M | 64.69M | 32.72M | 29.99M | 1.25B | 9.52M |
| Total Debt | 1.39B | 1.32B | 1.16B | 1.12B | 524.17M | 369.28M |
| Total Liabilities | 5.12B | 3.92B | 3.39B | 2.04B | 1.17B | 1.35B |
| Stockholders Equity | 4.44B | 4.49B | 3.94B | 3.59B | 3.15B | 849.18M |
Cash Flow | ||||||
| Free Cash Flow | -139.62M | -126.15M | 65.60M | -1.83B | -928.33M | -72.41M |
| Operating Cash Flow | 2.45M | 143.00M | 386.80M | 73.85M | -237.16M | 164.11M |
| Investing Cash Flow | -168.57M | -294.33M | -329.01M | -620.25M | -1.91B | -238.65M |
| Financing Cash Flow | 169.52M | 151.81M | -85.49M | 572.15M | 2.14B | 74.53M |
Dharmaj Crop Guard Ltd. Technical Analysis
Neutral
239.20
Price Trends
269.98
Positive
253.80
Positive
267.66
Positive
Market Momentum
2.27
Positive
48.53
Neutral
49.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DHARMAJ, the sentiment is Neutral. The current price of 239.2 is below the 20-day moving average (MA) of 276.87, below the 50-day MA of 269.98, and below the 200-day MA of 267.66, indicating a neutral trend. The MACD of 2.27 indicates Positive momentum. The RSI at 48.53 is Neutral, neither overbought nor oversold. The STOCH value of 49.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DHARMAJ.
Dharmaj Crop Guard Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹81.99B | 12.03 | ― | 1.02% | 21.94% | 123.70% | |
71 Outperform | ₹48.81B | 16.81 | ― | 0.17% | -0.75% | -2.74% | |
68 Neutral | ₹191.74B | 27.83 | ― | 1.57% | 3.71% | 21.34% | |
66 Neutral | ₹66.45B | 9.93 | ― | 2.80% | 14.81% | 13.77% | |
64 Neutral | ₹44.48B | 23.57 | ― | 0.92% | 8.79% | 47.20% | |
62 Neutral | ₹8.95B | 16.44 | ― | ― | 19.65% | 56.90% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% |
* Services Sector Average
IN:DHARMAJ
Dharmaj Crop Guard Ltd.
264.80
-18.90
-6.66%
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IN:SHARDACROP
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15.64%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.