Dharmaj Crop Guard Limited has accepted the resignation of Mr. Bhupendra Varasada from the position of Senior Managerial Personnel effective July 08, 2026. The resignation was submitted to pursue a new career opportunity, with no other material reasons cited. This leadership change impacts the operations of the Saykha unit, where Varasada served as Head of Operations.

The company disclosed the information in compliance with Regulation 30 read with Schedule III - Part A, Clause 7B of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023.

Resignation Details

The following table outlines the key details regarding the change in senior managerial personnel:

In his resignation letter, Varasada confirmed there were no other material reasons for his departure. He also issued a no-objection certificate for the appointment of a successor to the position of Senior Managerial Personnel. The company has submitted the necessary documentation, including the resignation letter, to the stock exchanges.

Dharmaj Crop Guard Limited reported a 57% increase in net profit to ₹55 crore for the financial year ended March 31, 2026, driven by a 20% rise in revenue to ₹1,138 crore. The company delivered a strong turnaround in the fourth quarter, with profit after tax (PAT) surging to ₹40 million against a loss of ₹24 million in the corresponding quarter of the previous year. The Board of Directors approved the audited financial results for Q4 and FY26 at a meeting held on May 27, 2026. M/s. MSKA & Associates LLP, Statutory Auditors, issued an audit report with an unmodified opinion on the financial results. The company disclosed these results through a newspaper advertisement in the Financial Express on May 28, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company's standalone net profit for FY26 stood at ₹55 crore, compared to ₹35 crore in the previous year. Revenue from operations for FY26 grew to ₹1,138 crore from ₹950 crore in FY25. EBITDA for the year rose 34% to ₹101 crore. The following table summarises the key annual financial metrics:

Q4 Performance

For the quarter ended March 31, 2026, Dharmaj Crop Guard reported a standalone net profit of ₹40 million, reversing the loss of ₹24 million recorded in the corresponding quarter of the previous year. EBITDA rose to ₹106 million from ₹39 million year-on-year, with EBITDA margins expanding to 4.53% from 1.86%. Revenue for the quarter increased to ₹2,338 million from ₹2,099 million year-on-year. Total income for Q4 FY26 was ₹2,382 crore.

Operational Highlights

The company's total assets increased to ₹8,415 crore as of March 31, 2026, from ₹7,334 crore a year ago. Equity attributable to owners of the parent rose to ₹4,491 crore. The business operates in a single segment, Agri-Inputs.

Management Commentary

Mr. Rameshbhai Talavia, Chairman and Managing Director, attributed the performance to improved gross margins and better contribution margins. The Domestic Institutional segment grew 15% YoY, while the Branded Formulations vertical grew 3% YoY. The Technicals business saw strong capacity utilisation, with the unit breaking even at the PBT level. Management secured additional inventories in March 2026 to navigate input cost inflation driven by the West Asia crisis.

Strategic Developments

A new CAPEX project for a dedicated Herbicides facility at the Kerala GIDC, Ahmedabad, is progressing as per plan and is expected to be commissioned towards the end of Q3FY27. The Board appointed M/s. Manubhai & Shah LLP as the internal auditor for FY26-27.

Earnings Conference Call

The audio recording of the Q4 & FY26 earnings conference call held on May 29, 2026, is now available. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The recording can be accessed via the link provided on the company's website.