Dharmaj Crop Guard Ltd
DHARMAJDharmaj Crop Guard Ltd is coiled. The quarters are improving, yet the P/E sits at the 11th percentile of its own 1-year range — the business is moving before the market.
The sharpest disagreement: profits are rising, but only 55% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (7 weeks in) while the P/E sits at the 11th percentile of its own 1-year range. Underneath, the last four quarters read improving, and 55% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Dharmaj Crop Guard Ltd trades at ₹259, in a confirmed uptrend and 7 weeks into that stage. That is −1.8% against its own 200-day average. It sits at 21% of a 52-week range of ₹228 to ₹372. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (3 weeks and counting).
Today the stock is in a confirmed uptrend — week 7 of stage 2, confirmed. At ₹259 it trades −1.8% versus its 200-day average and sits at 21% of its 52-week range (₹228–₹372).
Against the market, two honest reads. Cumulative: over the last 3.6 years the stock moved +4% while the NIFTY 500 moved +46% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (3 weeks and counting; last ahead the week of 2026-07-01) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 11th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Dharmaj Crop Guard Ltd trades at 16.1× P/E, near the bottom of its own range — cheaper only 11% of the time. Its long-run median P/E is 17.3×, measured across 1.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 16.1× is near the bottom of its own range — cheaper only 11% of the time, against a long-run median of 17.3× measured over 1.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +56.8% against a −23.5% price move — earnings outran the price, pushing the multiple DOWN its own range.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Dharmaj Crop Guard Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 0 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +19.7% | — | — | — |
| Profit | +57.1% | — | — | — |
| EPS | +56.8% | — | — | — |
| Share price | −23.5% | +15.8% | — | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
60.5/100 — rank 6 of 24 in Pesticides/Agrochemicals · 62% evidence confidence
Dharmaj Crop Guard Ltd scores 60.5 out of 100 against the 24 companies it is compared with in Pesticides/Agrochemicals, ranking 6. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 23.8 + 13.3 + 10.5 + 12.9 = 60.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Dharmaj Crop Guard Ltd reported ₹234 Cr of revenue in the Mar 26 quarter, +11.4% year on year. That is the 4th straight quarter of year-on-year growth. Over 2 years it has compounded at 31.9% a year. The last full year, FY26, came in at ₹1,138 Cr. The last four reported quarters add to ₹1,138 Cr.
Dharmaj Crop Guard Ltd reported ₹234 Cr of revenue in the Mar 26 quarter, +11.4% year on year. That is the 4th straight quarter of year-on-year growth. Over 2 years it has compounded at 31.9% a year. The last full year, FY26, came in at ₹1,138 Cr. The last four reported quarters add to ₹1,138 Cr.
FY26 revenue came in at ₹1,138 Cr (+19.7% on the year), capping 2 years at 31.9% compound. The latest quarter (Mar 26) printed ₹234 Cr, +11.4% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +18.9% growth against the decade's 31.9% — the current year is running slower than its own long-run rate.
→ Revenue grew — did margins hold as it scaled? Next: 4.5% this quarter (+2.7 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Dharmaj Crop Guard Ltd's operating margin is 4.5% in the Mar 26 quarter, +2.7 percentage points against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 8.0% to 10.0%. The current quarter is running below every full year in that window.
Dharmaj Crop Guard Ltd's operating margin is 4.5% in the Mar 26 quarter, +2.7 percentage points against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 8.0% to 10.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 4.5%, +2.7 pp against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 8.0%–10.0%.
Why the margin moved: operating margin went +2.7 pp year on year while gross margin went +4.7 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit null in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Dharmaj Crop Guard Ltd earned ₹4.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹55.0 Cr. The 2-year compound rate is 11.8%. That is 1.7% of the quarter's revenue. The same quarter a year earlier lost ₹2.5 Cr. 1 of the last 8 reported quarters were loss-making.
Dharmaj Crop Guard Ltd earned ₹4.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹55.0 Cr. The 2-year compound rate is 11.8%. That is 1.7% of the quarter's revenue. The same quarter a year earlier lost ₹2.5 Cr. 1 of the last 8 reported quarters were loss-making.
Mar 26 profit was ₹4.0 Cr, null year on year. On the full year, FY26 printed ₹55.0 Cr (+57.1%), and the 2-year compound rate is 11.8%.
Pace comparison, last four quarters: profit +21.0% vs revenue +18.9%. Profit and revenue are moving roughly in step.
→ Profit rose — but did the cash follow? Next: 55% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 55% of Dharmaj Crop Guard Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹28.0 Cr of operating cash against ₹55.0 Cr of profit. After ₹27.0 Cr of capital spending, ₹1.0 Cr was left as free cash.
FY26: operating cash of ₹28.0 Cr against reported profit of ₹55.0 Cr, leaving free cash of ₹1.0 Cr after ₹27.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 55% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 55%: the cash cycle held roughly steady between FY24 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 87-day cycle and ₹49.0 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Dharmaj Crop Guard Ltd's cash conversion cycle runs 87 days in FY26, up from 84 days in FY24. Capital spending ran ₹49.0 Cr over the last 2 years. At FY26 sales of ₹1,138 Cr each day of that cycle holds about ₹3.1 Cr, so roughly ₹271 Cr sits inside the business at any moment.
FY26: debtors at 90 days, inventory at 86 days — roughly 2.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 87 days, looser than FY24's 84.
The full loop: cash goes out to suppliers and production on day 0; stock waits 86 days to sell; customers pay about 90 days after that; and suppliers themselves are paid at 89 days — netting out to the 87-day cycle.
In money terms: at FY26 sales of ₹1,138 Cr, each day of the cycle holds about ₹3.1 Cr — so the 87-day loop keeps roughly ₹271 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹49.0 Cr over the last 2 fiscal years against ₹37.0 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹6.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 16% and the ROIC − WACC spread is −1.3 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
Dharmaj Crop Guard Ltd earns a ROCE of 16% in FY26. Return on invested capital clears the cost of that capital by −1.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 4.8% net margin on 1.35× asset turns.
FY26 ROCE is 16%.
🚨 Why the return is what it is — the wiring (FY26): 4.8% net margin × 1.35× asset turns × 1.87× balance-sheet leverage ≈ 12.1% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 10.7% − 12.0% = a −1.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.29.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
Dharmaj Crop Guard Ltd carries total debt of ₹132 Cr against shareholder equity of ₹449 Cr as of Mar 26, a debt-to-equity of 0.29 — effectively unlevered. On the annual view that ratio went from 0.44 in FY22 to 0.29 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹132 Cr against shareholder equity of ₹449 Cr — a debt-to-equity of 0.29. On the annual view, debt-to-equity went from 0.44 (FY22) to 0.29 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 3.8 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions cut 3.8 points of Dharmaj Crop Guard Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 3.1% of the company. Domestic institutions moved +0.4 points over the same window, to 0.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −3.8 points over 8 quarters to 3.1%; Domestic institutions: +0.4 points over 8 quarters to 0.5%; Promoters: +0.0 points over 8 quarters to 70.4%.
🚨 Why the register moved: foreign institutions drove it (−3.8 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Dharmaj Crop Guard Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Dharmaj Crop Guard Ltd this page | 16.1× | ₹882 Cr | No read | |||
| UPL Ltd | 28.2× | ₹50,841 Cr | No read | |||
| P I Industries Ltd | 34.5× | ₹41,437 Cr | Deteriorating | |||
| Sumitomo Chemical India Ltd | 50.9× | ₹25,978 Cr | Mixed | |||
| Bayer CropScience Ltd | 385.0× | ₹18,954 Cr | — | — | — | — |
| Jubilant Ingrevia Ltd | 36.3× | ₹11,557 Cr | Mixed | |||
| Sharda Cropchem Ltd | 12.1× | ₹7,876 Cr | Mixed | |||
| Epigral Ltd | 15.2× | ₹5,016 Cr | Mixed | |||
| NACL Industries Ltd | 178.0× | ₹4,610 Cr | No read | |||
| Dhanuka Agritech Ltd | 15.5× | ₹4,517 Cr | Topping out | |||
| Rallis India Ltd | 26.9× | ₹4,253 Cr | Mixed | |||
| Bhagiradha Chemicals & Industries Ltd | 188.0× | ₹3,416 Cr | Improving | |||
| GSP Crop Science Ltd | 24.4× | ₹2,468 Cr | — | — | — | — |
| Bharat Rasayan Ltd | 13.1× | ₹2,096 Cr | Mixed | |||
| Insecticides India Ltd | 12.9× | ₹1,793 Cr | Mixed | |||
| India Pesticides Ltd | 14.4× | ₹1,727 Cr | Mixed | |||
| Titan Biotech Ltd | 57.5× | ₹1,719 Cr | Turning around | |||
| Astec Lifesciences Ltd | — | ₹1,469 Cr | No read | |||
| Meghmani Organics Ltd | 48.2× | ₹1,385 Cr | No read | |||
| Punjab Chemicals & Crop Protection Ltd | 21.0× | ₹1,375 Cr | Mixed | |||
| Excel Industries Ltd | 15.5× | ₹1,172 Cr | Mixed | |||
| Titan Biotech Ltd | 42.0× | ₹1,141 Cr | Turning around | |||
| Advance Agrolife Ltd | 20.0× | ₹706 Cr | No read | |||
| Heranba Industries Ltd | — | ₹700 Cr | No read | |||
| Best Agrolife Ltd | 60.6× | ₹538 Cr | No read |
Frequently asked questions
What is Dharmaj Crop Guard Ltd's share price today?
Dharmaj Crop Guard Ltd trades at ₹259, −23.5% over the past year. The company is valued at ₹882 Cr. The stock sits at 21% of its 52-week range of ₹228–₹372, −1.8% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 7 weeks in. — as of 24 July 2026.
What were Dharmaj Crop Guard Ltd's latest quarterly results?
Dharmaj Crop Guard Ltd reported revenue of ₹234 Cr and net profit of ₹4.0 Cr for the Mar 26 quarter. Earnings per share were ₹1.17. The operating margin was 4.5%, 2.7 pp higher than a year earlier. — as of 24 July 2026.
What is Dharmaj Crop Guard Ltd's revenue?
Dharmaj Crop Guard Ltd reported revenue of ₹234 Cr in the Mar 26 quarter, +11.4% year on year. For the full FY26 fiscal year, revenue was ₹1,138 Cr (+19.7%). Over the last 2 years revenue compounded at 31.9% a year. — as of 24 July 2026.
What is Dharmaj Crop Guard Ltd's profit?
Dharmaj Crop Guard Ltd earned ₹4.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹55.0 Cr. The operating margin ran 4.5% in the latest quarter. — as of 24 July 2026.
What is Dharmaj Crop Guard Ltd's market cap?
Dharmaj Crop Guard Ltd's market capitalisation is ₹882 Cr at a share price of ₹259. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Dharmaj Crop Guard Ltd's P/E ratio?
Dharmaj Crop Guard Ltd trades at a P/E of 16.1×, at the 11th percentile of its own 1-year range, against a long-run median of 17.3×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Dharmaj Crop Guard Ltd pay a dividend?
No — Dharmaj Crop Guard Ltd has recorded a dividend payout of 0% of profit in each of its last 3 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.
Is Dharmaj Crop Guard Ltd overvalued?
On its own history, Dharmaj Crop Guard Ltd looks cheap against its own history: its P/E of 16.1× has been cheaper only 11% of the time in 1 years (long-run median 17.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
How is Dharmaj Crop Guard Ltd performing?
Dharmaj Crop Guard Ltd is in a confirmed uptrend, 7 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
Is Dharmaj Crop Guard Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 7 of stage 2), trading −1.8% versus its 200-day average and at 21% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Dharmaj Crop Guard Ltd beating the market?
Not lately — on a trailing-13-week view Dharmaj Crop Guard Ltd is currently behind the NIFTY 500 (3 weeks and counting; last ahead the week of 2026-07-01), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 3.6 years the stock moved +4% against the NIFTY 500's +46% — behind the index over the full window. — as of 24 July 2026.
Will Dharmaj Crop Guard Ltd's share price go up?
This page publishes no price forecast for Dharmaj Crop Guard Ltd. What it measures instead: the share price is ₹259, the price is in a confirmed uptrend 7 weeks in. Its P/E of 16.1× sits at the 11th percentile of its own 1-year range. — as of 24 July 2026.
Who owns Dharmaj Crop Guard Ltd?
Promoters hold 70.4% of Dharmaj Crop Guard Ltd, foreign institutions 3.1%, domestic institutions 0.5% and the public 26.0% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 3.8 points over 8 quarters. — as of 24 July 2026.
Does Dharmaj Crop Guard Ltd have too much debt?
No — Dharmaj Crop Guard Ltd's debt-to-equity is 0.29, and operating profit covers the interest bill 6×. FY26 borrowings were ₹132 Cr against equity of ₹449 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Dharmaj Crop Guard Ltd's capex?
Dharmaj Crop Guard Ltd spent ₹49.0 Cr on capital expenditure over the last 2 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹27.0 Cr, with ₹6.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Dharmaj Crop Guard Ltd's cash flow?
Dharmaj Crop Guard Ltd generated ₹28.0 Cr of operating cash flow in FY26 and ₹1.0 Cr of free cash flow after ₹27.0 Cr of capital spending. Reported profit that year was ₹55.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Dharmaj Crop Guard Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 55% of Dharmaj Crop Guard Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹28.0 Cr against reported profit of ₹55.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Dharmaj Crop Guard Ltd in its business cycle?
Dharmaj Crop Guard Ltd's FY26 operating margin was 9.0%, against a 3-year band of 8.0%–10.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 4.5%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Dharmaj Crop Guard Ltd story?
The sharpest disagreement: profits are rising, but only 55% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Dharmaj Crop Guard Ltd a stock worth studying right now?
This is not investment advice. The machine read: Dharmaj Crop Guard Ltd is coiled. The quarters are improving, yet the P/E sits at the 11th percentile of its own 1-year range — the business is moving before the market. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.