Dharmaj Crop Guard Limited | Globe Capital
Dharmaj Crop Guard Limited
Ongoing
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Price Band
Rs 216-237
IPO Issue Period
Nov 28, 2022 to Nov 30, 2022
Issue Size
251.15 Cr
Face value
Rs. 10
Fresh issue
216.00Cr.
Offer for sale
35.15 Cr
Minimum Shares for Retail
60 Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Dec 08, 2022
QIB
Not More than 50% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 35% of the offer

Elara Capital (India) Private
Monarch Networth Capital Ltd

Incorporated in 2015, Dharmaj Crop Guard Limited is an agrochemical company. The company is engaged in the business of manufacturing, distributing, and marketing a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilizers and antibiotics to the B2C and B2B customers.

The company also provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. Dharmaj Crop Guard Limited export products to more than 20 countries in Latin America, East African Countries, the Middle East and Far East Asia.

As of November 30, 2021, Dharmaj Crop Guard Limited had more than 196 institutional products that they sold to more than 600 customers based in India and the international markets. As of November 30, 2021, the company exported its products to more than 60 customers across 20 countries.

The company’s manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a research and development (“R&D”) centre at the manufacturing facility.

The company’s branded products are sold in 12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India, as of November 30, 2021.

The revenue from operations for Fiscals 2019, 2020 and 2021 and seven months period ended on October 31, 2021, was Rs 1,393.56 million, Rs 1,982.22 million, Rs 3,024.10 million and Rs 2,272.62 million, respectively.

For year/ period ended ( in Cr.)

H1FY22 FY21 FY20
Total Revenue
Profit After Tax
EPS
OPM (%)

 

  • Diversified portfolio of the products and consistent focus on quality and innovation
  • Strong R&D capabilities with focus on innovation and sustainability
  • Established distribution network with strong branded products and stable relationship with the institutional Customers
  • Experienced Promoters and management team
  • Track record of strong operational and financial performance

1. Funding capital expenditure towards setting up of a manufacturing facility at Saykha, Bharuch, Gujarat.

2. Funding incremental working capital requirements of the Company.

3. Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company.

4. General corporate purposes.

The Company is in the agrochemical segment and has created a niche place with its B2C and B2B model. It has posted steady growth in its top and bottom lines and is poised for bright prospects with more products launch up its sleeves. Hence, Investors may subscribe to the Issue.

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