Dhanuka Agritech Q2 Revenue Rises 9.91% to ₹657.51 Crore

Dhanuka Agritech reported revenue from operations of ₹657.51 crore in Q2 FY27, a 9.91% increase from ₹598.25 crore a year earlier, while profit after tax rose 16.23% to ₹109.22 crore. The result matters because the company delivered quarterly growth despite uneven monsoon rainfall and elevated input costs across the agriculture sector.

What did Dhanuka Agritech report for Q2 FY27?

Dhanuka Agritech reported total income of ₹666.68 crore for the quarter ended September 30, 2026, compared with ₹604.57 crore in the corresponding quarter of the previous financial year. Revenue from operations increased by ₹59.26 crore year on year to ₹657.51 crore.

The company reported EBITDA of ₹152.97 crore in Q2 FY27, up from ₹136.73 crore in Q2 FY26, representing an increase of 11.88%. Profit after tax rose to ₹109.22 crore from ₹93.97 crore, while the reported year-on-year increase was 16.23%. These figures were included in the company’s Q2 FY27 earnings material.

How were the Q2 FY27 results approved?

Dhanuka Agritech’s unaudited financial results for the quarter and half year ended September 30, 2026 were reviewed by its Audit Committee and approved by the Board of Directors on October 30, 2026. The company subsequently held its post-results conference call on the same date, hosted by Antique Stock Broking.

The call included Executive Chairman Mahendra Dhanuka, Managing Director Rahul Dhanuka, Executive Director Harsh Dhanuka and Chief Financial Officer V.K. Bansal. The company also disclosed the conference-call transcript under Regulation 30 of the Listing Obligations and Disclosure Requirements regulations on November 4, 2026.

The earnings summary stated that standalone and consolidated results matched for the reported period. It also said the auditors’ limited reviews did not identify matters indicating material misstatement or non-compliance with applicable disclosure requirements. The reported review status is relevant because the quarterly figures are unaudited, rather than full-year audited results.

Why did Dhanuka Agritech grow despite sector conditions?

Dhanuka Agritech recorded Q2 revenue and profit growth even as its earnings summary referred to subdued sector conditions, uneven monsoon rainfall and high input costs. The supplied results do not provide a product-wise or region-wise revenue break-up, so the available information does not establish which categories drove the quarterly increase.

Agricultural input companies are exposed to seasonal demand patterns, rainfall distribution and farming activity during key sowing and crop-protection periods. Uneven rainfall can affect the timing and scale of demand across markets, while higher input costs can pressure profitability. Dhanuka Agritech’s Q2 outcome therefore came against conditions that the company described as challenging for the sector.

The 11.88% rise in reported EBITDA was faster than the 9.91% growth in revenue for the quarter. However, the company’s FY27 guidance calls for EBITDA margin to decline by about 125 basis points. The quarterly result and the full-year margin outlook should therefore be viewed separately, as management’s guidance covers the remaining periods of the financial year.

How did Dhanuka Agritech perform in the first half?

Dhanuka Agritech reported first-half FY27 revenue from operations of ₹1,119.44 crore, compared with ₹1,126.54 crore in H1 FY26. This represents a decline of about 0.63% from the previous year’s first-half revenue base, despite the higher Q2 revenue.

First-half profit after tax was ₹145.53 crore, compared with ₹149.47 crore a year earlier. Profit before tax was ₹195.04 crore versus ₹200.52 crore, while total expenses were ₹942.43 crore compared with ₹940.38 crore. The half-year data indicates that the improved second-quarter performance did not fully offset the comparative gap recorded in the other quarter of the first half.

What is Dhanuka Agritech's FY27 outlook?

Dhanuka Agritech has guided for lower single-digit growth in revenue from operations for FY27. It has also indicated that EBITDA margin is expected to decline by around 125 basis points during the year. The company did not provide a specific revenue target or a numerical EBITDA-margin target in the supplied material.

For investors, the guidance places attention on the company’s ability to sustain demand amid rainfall variability and input-cost pressures. The Q2 figures show positive year-on-year movement in revenue, EBITDA and profit after tax, while the first-half numbers and the margin outlook provide the broader context for assessing the full-year trajectory.

The available disclosures do not specify changes in product pricing, sales volumes, inventory, crop categories or geographic markets. These operational details, if provided in later company disclosures, would help investors assess the factors behind quarterly performance and the basis for management’s revenue and margin expectations.

How does the result affect investors and the agriculture-input industry?

The Q2 result provides a data point for investors tracking listed agricultural-input companies during a period of uneven monsoon rainfall and elevated costs. Dhanuka Agritech’s revenue rose 9.91% year on year and profit after tax increased 16.23%, showing an improvement in the reported quarterly comparison.

At the same time, the H1 revenue and profit figures were below their prior-year levels, and management has guided to lower single-digit revenue growth with a margin decline for FY27. This makes both quarterly execution and the cost environment relevant for evaluating the company’s subsequent disclosures. The supplied information does not indicate a change in dividend policy, capital expenditure plans or other shareholder actions.

Conclusion

Dhanuka Agritech’s Q2 FY27 results showed higher revenue, EBITDA and profit after tax compared with Q2 FY26, with revenue from operations reaching ₹657.51 crore. The performance was reported despite uneven monsoon conditions and high input costs, while the first-half comparison remained weaker than the prior year on revenue and profit.

The next key point to watch is execution against the company’s FY27 guidance for lower single-digit revenue growth and an EBITDA-margin decline of about 125 basis points. Future quarterly disclosures may also clarify the operational factors behind demand, costs and profitability through the rest of the financial year.