Dharmaj Crop Guard filed its Integrated Annual Report for FY26 on August 29, 2026, reporting its highest-ever revenue of ₹11,380 millions, a 20% rise over the prior year, with PAT climbing 57% to ₹547 millions.

The company's 12th Annual General Meeting is scheduled for September 24, 2026, at 11:30 a.m. through Video Conferencing/Other Audio-Visual Means. The meeting will ratify FY26 financial results and address key board appointments, including the appointment of Mrs. Megha Joshi as Independent Director and the reappointment of two Whole-Time Directors.

FY26 Financial Performance

Profitability growth significantly outpaced revenue expansion during the year. EBITDA rose 34% to ₹1,005 millions, with EBITDA margins improving to 9% from 8% in FY25. PAT margins expanded to 5% from 4%, while gross margins improved to 23%.

Return ratios improved meaningfully, with ROCE rising to 18% from 13% and ROE to 12% from 9%. Long-term borrowings reduced to ₹510 millions from ₹643 millions, while net worth grew to ₹4,491 millions. The debt-to-equity ratio held steady at 0.29.

Vertical-Wise Performance

Growth was broad-based across all four business verticals. Domestic Institutional Formulations, the largest vertical, grew 15% to ₹5,832 millions. Domestic Active Ingredients grew 37% to ₹2,734 millions as the Saykha plant operated ahead of internal utilisation targets. Export Institutional revenue rose 58% to ₹834 millions, marking a strong recovery after a difficult FY25. Branded Formulations grew 3% to ₹1,979 millions, bearing the brunt of erratic monsoon patterns and subdued Rabi demand.

The Active Ingredients unit at Saykha achieved profitability break-even in FY26, a stated objective for the year, driven by better capacity utilisation and a deliberate shift in product mix toward molecules with captive demand in the company's own formulations business.

Balance Sheet and Working Capital

In March 2026, management built additional raw material inventories to insulate the upcoming Kharif season amid the West Asia crisis. Closing inventory rose to ₹2,074 millions from ₹1,385 millions, and the cash conversion cycle extended to 87 days from 67 days. Short-term borrowings increased temporarily on account of this deliberate inventory build. The company holds a CARE A- / Stable / CARE A2+ credit rating as of February 2026.

Five-Year Financial Trend

The company has delivered a 5-year revenue CAGR of 30% and a 5-year PAT CAGR of 21% since FY22.

Board Appointments and AGM Agenda

Shareholders will consider several resolutions at the September 24 AGM:

• Appointment of Independent Director: Mrs. Megha Joshi, a Chartered Accountant with over 16 years of banking and credit appraisal experience including 15 years at State Bank of India, will be appointed as Independent Director for a five-year term commencing August 8, 2026.
• Reappointment of Whole-Time Directors: Mr. Jamankumar H. Talavia and Mr. Jagdish R. Savaliya seek reappointment as Whole-Time Directors for a three-year term starting August 1, 2027.
• Cost Auditor Remuneration: Ratification of ₹65,000 plus GST and out-of-pocket expenses payable to M/s. Dalwadi & Associates for FY27.
• Rotation: Mr. Rameshbhai R. Talavia, Chairman & Managing Director, retires by rotation and offers himself for reappointment.

The proposed maximum monthly remuneration caps for the Whole-Time Directors are as follows:

Actual remuneration drawn in FY26 was ₹5.62 millions for Mr. Talavia and ₹3.19 millions for Mr. Savaliya.

Strategic Developments

During FY26, Dharmaj welcomed cricketer Rohit Sharma as brand ambassador, with campaigns live since March. Work commenced on a dedicated Herbicides Formulations Unit adjacent to the existing facility at Kerala GIDC, Ahmedabad, which will simultaneously release capacity for insecticides and fungicides at the existing plant. The company holds 657 total product registrations, including 123 export market registrations, with an additional 150 in the pipeline. The institutional franchise served more than 700 customers across 41 countries.

The Integrated Annual Report for FY26 is available on the company's website at www.dharmajcrop.com/investor/annual-reports/ .

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE00OQ01016/45cbb3dd-fde4-4e22-bb1a-01a2ecdec65e.pdf

Dharmaj Crop Guard Limited published newspaper advertisements on August 20, 2026, notifying its members of the convening of its 12th Annual General Meeting (AGM). The company will hold the meeting through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), a format compliant with the Companies Act, 2013, and applicable regulatory circulars.

The advertisements, placed in both the English and Gujarati editions of the Financial Express, serve as formal notice to shareholders regarding the logistical arrangements for the annual gathering. Dharmaj Crop Guard confirmed that it will provide e-voting facilities, enabling members to attend and cast their votes electronically during the AGM.

Compliance and Regulatory Framework

The virtual meeting format adheres to specific regulatory guidelines, including MCA General Circular No. 03/2025 dated September 22, 2025, and relevant SEBI circulars. This compliance ensures that the company meets statutory requirements for shareholder engagement while utilizing digital infrastructure for accessibility.

Shareholder Instructions

To facilitate participation, the company has outlined specific steps for shareholders:

• E-mail Registration: Members who have not registered their e-mail addresses with the company or its Registrar and Transfer Agent (RTA) are requested to do so immediately. This registration is necessary to receive the Notice of the AGM and the Annual Report for the financial year 2025-26.
• Demat Holders: Shareholders holding shares in dematerialised form are advised to update their e-mail addresses directly with their respective Depository Participants.

Document Availability

The AGM Notice and the Annual Report for FY26 will be made available digitally. Shareholders can access these documents on:

• The company’s official website: www.dharmajcrop.com
• The BSE Limited website: www.bseindia.com
• The NSE website: www.nseindia.com

The publication of these advertisements marks the commencement of the formal notification period for the 12th AGM, ensuring all stakeholders are informed of the procedural details and voting mechanisms ahead of the meeting date.