Dhanuka Agritech share price today

Dhanuka Agritech Ltd's share price was ₹942.75 at the close on 4 November 2026. It has been falling for 53 weeks. That is 10.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹835 and ₹1,319, and at that close it sat 22% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Dhanuka Agritech Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

Over the last 11 years the share price moved +70% while the NIFTY 500 moved +249%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: foreign funds (FIIs) cut their stake for 5 quarters in a row, highest quarterly revenue in 19 quarters and highest quarterly profit in 8 quarters.

1. Foreign funds (FIIs) cut their stake for 5 quarters in a row

   From 2.7% to 1.6% of the company by the September 2026 quarter.

2. Highest quarterly revenue in 19 quarters

   Revenue of ₹658 crore in the September 2026 quarter is the highest of the last 19 quarters.

   Why: Revenue rose because insecticide sales led growth, especially Lanevo, Miyako and Mortar, and the company focused on areas where water was available.

   Next results: check whether returning monsoon in South and East turns into rabi sales.

   From the earnings call on 30 Oct 2026.

3. Highest quarterly profit in 8 quarters

   Profit of ₹109 crore in the September 2026 quarter is the highest of the last 8 quarters.

   Why: Profit rose because the company kept other expenses tight. That helped even though it sold a weaker mix of products that usually earn more profit, like fungicides and herbicides.

   Next results: check whether cost control still holds, since management expects full-year margins to shrink with low growth and more spending to promote products.

   From the earnings call on 30 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), Dhanuka Agritech reported revenue of ₹658 crore, up 10.0% from ₹598 crore a year earlier, and a profit of ₹109 crore, up 16.0% from ₹94.0 crore.

Dhanuka Agritech results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Dhanuka Agritech's management discussed these results on a call held on 30 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Dhanuka Agritech closed at ₹942.75 on 4 November 2026, down 28.5% from ₹1,318.90 a year earlier (7 November 2025) and up 24.5% over five years. Its highest weekly close since March 2016 was ₹1,846.75 on 9 August 2024.

Dhanuka Agritech share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 4 March 2016 to 4 November 2026.

4 Nov 2026: Dhanuka Agritech closed at ₹942.75, down 3.8% on the week and up 0.8% on the month. 30 Oct 2026: Dhanuka Agritech held its results call for July to September 2026. Management guided: FY27 full-year revenue growth low single-digit.

Earlier

• Results for July to September 2026: Revenue up 10.0% and profit up 16.0% on a year earlier.
• 17 Jul 2026: ex-date for a dividend of ₹2 a share.

Dhanuka Agritech paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.21% at the ₹942.75 close on 4 November 2026. The last was a dividend of ₹2 a share, ex-date 17 July 2026.

Dhanuka Agritech dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Not in its latest year. Dhanuka Agritech Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 12 of its last 13 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 30 October 2026, Dhanuka Agritech's management guided: FY27 full-year revenue growth low single-digit.

“Unlike the high-cost inventory issues plaguing the sector, our proactive raw material sourcing and lean distributor inventory levels ensured zero channel stuffing and healthy cash generation.”M. K. Dhanuka, on the call for July to September 2026

What management guided

• FY27 gross margin down about 100 basis points.
• FY27 operating profit decline similar or slightly larger than gross margin drop.
• FY28 Dahej portfolio 4 products versus 2 now via in-plant lift plus new fungicides for India.
• Dhanzyme Gold liquid launch in December after approval pending internal clearance.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 30 October 2026.

When Dhanuka Agritech reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: South-East returning monsoon converting into rabi volumes ahead - check zone mix and volume recovery.

Dhanuka Agritech is not on any of our India lists this week.

Dhanuka Agritech Ltd earned ₹109 Cr of net profit in the Sep 2026 quarter, +16.0% on the same quarter a year earlier. Full-year FY26 profit was ₹287 Cr. Over 10 years profit has grown 10.4% a year on average. That is 16.6% of the quarter's revenue. The same quarter a year earlier earned ₹94.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹287 Cr (−3.4% on the year before).

Why profit moved: revenue changed +10.0% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −4.5% and revenue −0.3%. Profit is growing slower than sales: rising costs are taking part of the growth.

Dhanuka Agritech Ltd reported ₹658 Cr of revenue in the Sep 2026 quarter, +10.0% on the same quarter a year earlier. Over 10 years it has grown 9.3% a year on average. The last full year, FY26, came in at ₹2,020 Cr. The last four reported quarters add to ₹2,013 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹2,020 Cr, −0.7% on the year before.

Recent pace: the last four quarters grew −0.3% on average, against 9.3% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +0.0%, against +2.4% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +0.7%, against +2.2% a year (stabilising).

Dhanuka Agritech Ltd's operating margin was 23.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 15.0% and 20.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed +0.4 percentage points on the year while gross margin changed −1.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 72% of Dhanuka Agritech Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹196 Cr of operating cash against ₹287 Cr of profit. After ₹30.0 Cr of spending on assets, ₹166 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 72% of profit came in as cash: the cash cycle got 36 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 36 days longer. The next section looks at where the cash is stuck.

Dhanuka Agritech Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 187 days in FY26, up from 151 days in FY21. It spent ₹321 Cr on assets over the last 3 years. Customers take 80 days to pay, and stock sits for 173 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,020 Cr, each day of that cycle ties up about ₹5.5 Cr, so roughly ₹1,035 Cr is tied up in the business at any time.

FY26: customers took 80 days to pay and stock sat for 173 days, about 5.7 months of sales sitting as stock, for a full cycle of 187 days, longer than FY21's 151.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 173 days. Customers pay about 80 days after that. Suppliers are paid at 66 days. Together that makes the 187-day cycle.

Spending on assets: ₹321 Cr over the last 3 years, against ₹160 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹12.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Dhanuka Agritech Ltd's P/E is 13.8×, near the low end of its own history: it has been lower only 6% of the time. Its usual P/E (the middle reading) is 18.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹63.20.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.