Dharmaj Crop Guard share price today

Dharmaj Crop Guard Ltd's share price was ₹251.40 at the close on 4 November 2026. It has been rising for 8 weeks. That is 5.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹228 and ₹295, and at that close it sat 35% 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 Dharmaj Crop Guard Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 3.9 years the share price moved +1% while the NIFTY 500 moved +37%, so it is behind the index over that whole period. 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: best operating margin in 13 quarters, revenue up on a year earlier for 9 quarters in a row (every quarter we can compare) and highest quarterly profit in 13 quarters.

1. Best operating margin in 13 quarters

   Operating margin was 15% in the June 2026 quarter, against 14% a year earlier.

   Why: Margins rose mainly because the company sold a better mix of products and got some higher prices for branded products.

   Next results: check whether product mix, more use of its own plant output and new chemical products keep the margin up.

   From the earnings call on 28 Sep 2026.

2. Revenue up on a year earlier for 9 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹384 crore, +4.6% on a year earlier.

   Why: Revenue rose because export sales grew quickly from a low starting point.

   Next results: check whether delayed monsoon crop demand moves into the second half and helps sales.

   From the earnings call on 28 Sep 2026.

3. Highest quarterly profit in 13 quarters

   Profit of ₹38 crore in the June 2026 quarter is the highest of the last 13 quarters.

   Why: Profit rose because a better product mix and more use of its own chemical plant lifted the amount earned on each sale.

   Next results: check whether better winter crop demand offsets weak demand from outside markets at the new chemical plant.

   From the earnings call on 28 Sep 2026.

For April to June 2026 (the quarter ended 30 June 2026), Dharmaj Crop Guard reported revenue of ₹384 crore, up 4.6% from ₹367 crore a year earlier, and a profit of ₹38.0 crore, up 15.2% from ₹33.0 crore.

Dharmaj Crop Guard results: April to June 2026 against a year earlier

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

Dharmaj Crop Guard's management discussed these results on a call held on 28 September 2026; what it said is further down this page.

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

Dharmaj Crop Guard closed at ₹251.40 on 4 November 2026, up 1.1% from ₹248.75 a year earlier (7 November 2025) and down 0.7% over three years. Its highest weekly close since December 2022 was ₹374.95 on 30 August 2024.

Dharmaj Crop Guard 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.

209 weekly closes from 9 December 2022 to 4 November 2026.

4 Nov 2026: Dharmaj Crop Guard closed at ₹251.40, down 1.4% on the week and down 6.1% on the month. 28 Sep 2026: Dharmaj Crop Guard held its results call for April to June 2026. Management guided: FY27 revenue ₹1,200-1,250 crore.

Earlier

• Results for April to June 2026: Revenue up 4.6% and profit up 15.2% on a year earlier.

Dharmaj Crop Guard has paid no dividend on the NSE since its first NSE close in our records (9 December 2022), the start of the period we checked.

Not in its latest year. Dharmaj Crop Guard Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 8 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 April to June 2026, held on 28 September 2026, Dharmaj Crop Guard's management guided: FY27 revenue ₹1,200-1,250 crore.

“Technical revenue should be at par. Right now, I feel that it should be at par.”Vikas Agarwal, CFO, on the call for April to June 2026

What management guided

• FY27 H1 approximately at par or slightly better year on year; H2 expected to improve.
• FY27 technical revenue at par with FY26; profit before tax at break-even or some profit.
• Saykha FY27 utilization 65-70%; 2-3 molecules planned to support captive and external sales.
• Kerala GIDC herbicide unit: ₹35 crore capital spending, 15,000 metric tons capacity, commissioning in October to December 2026 ahead of Kharif.

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 April to June 2026, 28 September 2026.

When Dharmaj Crop Guard reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: FY27 H1 at-par delivery, especially branded formulation recovery - check whether delayed Kharif demand shifts into H2.

Dharmaj Crop Guard is not on any of our India lists this week.

Dharmaj Crop Guard Ltd earned ₹38.0 Cr of net profit in the Jun 2026 quarter, +15.2% on the same quarter a year earlier. Full-year FY26 profit was ₹55.0 Cr. Over 7 years profit has grown 40.9% a year on average. That is 9.9% of the quarter's revenue. The same quarter a year earlier earned ₹33.0 Cr.

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

2 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹55.0 Cr (+57.1% on the year before).

Why profit moved: revenue changed +4.6% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −1.3% and revenue +9.1%. Profit is growing slower than sales: rising costs are taking part of the growth.

Dharmaj Crop Guard Ltd reported ₹384 Cr of revenue in the Jun 2026 quarter, +4.6% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 7 years it has grown 35.5% a year on average. The last full year, FY26, came in at ₹1,138 Cr.

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

The last four reported quarters add to ₹1,155 Cr.

FY26 revenue was ₹1,138 Cr, +19.7% on the year before.

Recent pace: the last four quarters grew +9.1% on average, against 35.5% 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 +8.7%, against +24.3% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +13.2%, against +18.1% a year (rolling over).

Dharmaj Crop Guard Ltd's operating margin was 15.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 8 years it has been between 8.0% and 11.0%. 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.

Why the margin moved: operating margin changed +1.1 percentage points on the year while gross margin changed +1.8 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 55% of Dharmaj Crop Guard Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹28.0 Cr of operating cash against ₹55.0 Cr of profit. After ₹26.0 Cr of spending on assets, ₹2.0 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 55% 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. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

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.

Dharmaj Crop Guard Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 87 days in FY26, up from 51 days in FY21. It spent ₹237 Cr on assets over the last 3 years. Customers take 90 days to pay, and stock sits for 86 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 ₹1,138 Cr, each day of that cycle ties up about ₹3.1 Cr, so roughly ₹271 Cr is tied up in the business at any time.

FY26: customers took 90 days to pay and stock sat for 86 days, about 2.8 months of sales sitting as stock, for a full cycle of 87 days, longer than FY21's 51.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 86 days. Customers pay about 90 days after that. Suppliers are paid at 89 days. Together that makes the 87-day cycle.

Spending on assets: ₹237 Cr over the last 3 years, against ₹42.0 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 ₹13.0 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.

Dharmaj Crop Guard Ltd's P/E is 14.1×, about the lowest it has ever been. Its usual P/E (the middle reading) is 19.7×, over 3.9 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.

Why the multiple is where it is: over the past year earnings per share moved +56.9% while the price moved +1.1%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 3 years the price moved −0.2% a year; about +17.2% a year came from earnings growth and about −17.4 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Dharmaj Crop Guard Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: revenue growth has eased from +42.4% at its peak to +8.7%, but the business is still expanding, with ROCE rising at 19.9%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Dharmaj Crop Guard Ltd earned a ROCE of 17% in FY26. That is up from a low of 12% in FY25. Its return on capital used (ROIC) is 1.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a 4.8% net margin and 1.35× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 4.8% net margin × 1.35× asset turnover × 1.87× leverage (assets divided by equity) ≈ 12.1% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 10.4% − 12.0% = −1.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Dharmaj Crop Guard Ltd has total debt of ₹119 Cr against shareholder equity of ₹500 Cr as of Sep 2026, so its debt is 0.24× its equity, which is very little. Year by year, that ratio went from 0.44 in FY22 to 0.29 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Foreign institutions cut their stake in Dharmaj Crop Guard Ltd by 1.3 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 3.1% of the company. Domestic institutions moved +0.4 points over the same period, to 0.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −1.3 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 owners changed: foreign institutions drove it (−1.3 points). They reduced their stake.

For Dharmaj Crop Guard Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

56.5 out of 100, rank 8 of 25 in Pesticides/Agrochemicals, with 85% of the evidence available.

Dharmaj Crop Guard Ltd scores 56.5 out of 100 against the 25 companies it is compared with in Pesticides/Agrochemicals, ranking 8. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far.

The four parts add up to the total exactly: 14.3 + 14.5 + 15.5 + 12.2 = 56.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Dharmaj Crop Guard ranks 8 of 25 Pesticides/Agrochemicals companies on the 4-Factor Sector Score, with 56.5 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Pesticides/Agrochemicals, all 25 compared on one page.

Dharmaj Crop Guard is the 21st largest of 25 Pesticides/Agrochemicals companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Astec Lifesciences, Punjab Chemicals & Crop Protection and Excel Industries. Just below it: Advance Agrolife, Heranba Industries and Best Agrolife.

Pesticides/Agrochemicals companies close in size

18. Astec Lifesciences Ltd ₹1,216 crore
19. Punjab Chemicals & Crop Protection Ltd ₹1,166 crore
20. Excel Industries Ltd ₹1,074 crore
21. Dharmaj Crop Guard Ltd ₹862 crore
22. Advance Agrolife Ltd ₹797 crore
23. Heranba Industries Ltd ₹580 crore
24. Best Agrolife Ltd ₹496 crore

All 25 Pesticides/Agrochemicals companies, largest first

Companies close in size in other industries

1692. Indo Amines Ltd ₹865 crore · Chemicals - Organic
1693. Valiant Organics Ltd ₹864 crore · Chemicals - Organic
1694. Dharmaj Crop Guard Ltd ₹862 crore
1695. One Global Service Provider Ltd ₹858 crore · Diagnostics
1696. Sudarshan Colorants India Ltd ₹857 crore · Dyes & Pigments

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.