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.

Dharmaj Crop Guard Limited has appointed M/s. Manubhai & Shah LLP as its internal auditor for the financial year 2026-27. The Board of Directors approved the appointment on May 27, 2026, following the completion of the term of the previous internal auditors. The firm, based in Ahmedabad, brings extensive experience in auditing large corporates across various sectors.

The appointment was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted to BSE Limited and the National Stock Exchange of India Limited to comply with regulatory requirements.

M/s. Manubhai & Shah LLP, founded in 1945, operates as a chartered accountants firm with an LLP identity number AAG-0878. The firm has 23 partners and over 1000 professionals and staff, with its head office in Ahmedabad and branches in Mumbai, Pune, New Delhi, Rajkot, Jamnagar, Baroda, Udaipur, Gandhinagar, and Indore.

Details of Appointment

The firm provides a broad spectrum of services to clients globally and is engaged in the audit of large corporates spanning various sectors. There is no specific disclosure required regarding the relationship between directors and the newly appointed auditor.