External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Challenging Quarter: Dhanuka reported a 9% YoY decline in revenue during Q2FY26, missing estimates due to erratic and uneven rainfall across key growing regions.</li><li>Adverse weather conditions resulted in crop damage and limited agrochemical usage.</li><li>The herbicide portfolio was particularly impacted, with subdued demand from major crops such as soybean, groundnut, and cotton, as irregular precipitation restricted application opportunities. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Challenging Quarter: Dhanuka reported a 9% YoY decline in revenue during Q2FY26, missing estimates due to erratic and uneven rainfall across key growing regions.Adverse weather conditions resulted in crop damage and limited agrochemical usage.The herbicide portfolio was particularly impacted, with subdued demand from major crops such as soybean, groundnut, and cotton, as irregular precipitation restricted application opportunities. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dhanuka Agritech Ltd - Looking Beyond the Storm, Seeding Long-Term Growth

<ul><li>Modest Start to FY26; Signs of Recovery in Q2: Dhanuka commenced FY26 on a cautious note, posting a 7% YoY revenue growth in Q1, driven by 5% growth in volumes and a 7% improvement in realisations.</li><li>The delayed and uneven onset of the southwest monsoon impacted the timely sowing of kharif crops, leading to softer demand for agri-inputs, particularly herbicides.</li><li>Additionally, farmer sentiment remained conservative due to rainfall uncertainties and lower price realisations from the previous harvest. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Modest Start to FY26; Signs of Recovery in Q2: Dhanuka commenced FY26 on a cautious note, posting a 7% YoY revenue growth in Q1, driven by 5% growth in volumes and a 7% improvement in realisations.The delayed and uneven onset of the southwest monsoon impacted the timely sowing of kharif crops, leading to softer demand for agri-inputs, particularly herbicides.Additionally, farmer sentiment remained conservative due to rainfall uncertainties and lower price realisations from the previous harvest. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dhanuka Agritech Ltd - Weaker-Than-Expected Q1; Expecting to Recoup Growth in Q2

<ul><li>Revenue Growth Along With Margin Expansion: Dhanuka delivered impressive results this quarter, with a 20% YoY revenue growth driven by 19% volume growth and 20% value growth.</li><li>Operating margins expanded significantly to 24.8%, supported by a favourable product mix, strong sales performance, and the launch of new products.</li><li>The company’s ongoing investment in process research is showing promising outcomes, with several new products in the pipeline. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue Growth Along With Margin Expansion: Dhanuka delivered impressive results this quarter, with a 20% YoY revenue growth driven by 19% volume growth and 20% value growth.Operating margins expanded significantly to 24.8%, supported by a favourable product mix, strong sales performance, and the launch of new products.The company’s ongoing investment in process research is showing promising outcomes, with several new products in the pipeline. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dhanuka Agritech Ltd - Performance Beat on All Fronts; Maintain BUY

<ul><li>New products continue to drive growth: During the quarter, the company experienced margin expansion on a YoY basis, primarily driven by a favorable product mix and new product introductions, strong sales, and liquidation of key products such as LaNevo and MYCORe Super.</li><li>Both these products, launched this year, have been well received by farmers across India.</li><li>Additionally, the company introduced a new 9(4) product, “Roxa” – Pyroxasulfone 85% WG, aimed at controlling weeds in wheat crops, which has garnered a positive market response. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

New products continue to drive growth: During the quarter, the company experienced margin expansion on a YoY basis, primarily driven by a favorable product mix and new product introductions, strong sales, and liquidation of key products such as LaNevo and MYCORe Super.Both these products, launched this year, have been well received by farmers across India.Additionally, the company introduced a new 9(4) product, “Roxa” – Pyroxasulfone 85% WG, aimed at controlling weeds in wheat crops, which has garnered a positive market response. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dhanuka Agritech Ltd - New Launches to Strengthen the Portfolio; Maintain BUY

Thematic (Sector/Industry)

<ul><li>Chemicals &amp; Agrochemicals: Recent exports trends and pricing data indicates that most specialty chemical companies may continue to experience pricing pressures while there may be some signs of recovery in certain pockets.</li><li>We expect most of the companies to post volume lead revenue growth, while the margin expansion is expected to be limited due to competitive pricing.</li><li>Furthermore, with the logistical challenges persisting during the quarter, the export volumes and freight costs remained impacted. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals &amp; Agrochemicals: Recent exports trends and pricing data indicates that most specialty chemical companies may continue to experience pricing pressures while there may be some signs of recovery in certain pockets.We expect most of the companies to post volume lead revenue growth, while the margin expansion is expected to be limited due to competitive pricing.Furthermore, with the logistical challenges persisting during the quarter, the export volumes and freight costs remained impacted. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q3FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

India

Dhanuka Agritech Ltd. manufactures insecticides, pesticides and other chemicals. The Company has a technical tie-up with M/s E.I. Dupont De Numours & Co., U.S.A. to formulate the product Methomyl 12.5L under brand name "Dunet".

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Dhanuka Agritech (DAGRI IN)

Dhanuka Agritech Ltd - Looking Beyond the Storm, Seeding Long-Term Growth

Challenging Quarter: Dhanuka reported a 9% YoY decline in revenue during Q2FY26, missing estimates due to erratic and uneven rainfall across key...

Axis Direct

Dhanuka Agritech Ltd - Weaker-Than-Expected Q1; Expecting to Recoup Growth in Q2

Dhanuka commenced FY26 on a cautious note, posting a 7% YoY revenue growth in Q1, driven by 5% growth in volumes and a 7% improvement in realisations.

Axis Direct

Dhanuka Agritech Ltd - Performance Beat on All Fronts; Maintain BUY

Revenue Growth Along With Margin Expansion: Dhanuka delivered impressive results this quarter, with a 20% YoY revenue growth driven by 19% volume...

Axis Direct

Dhanuka Agritech Ltd - New Launches to Strengthen the Portfolio; Maintain BUY

During the quarter, the company experienced margin expansion on a YoY basis, primarily driven by a favorable product mix and new product...

Axis Direct

Q3FY25 Earnings Preview - Chemicals, Capital Goods and Midcaps

Recent exports trends and pricing data indicates that most specialty chemical companies may continue to experience pricing pressures while there...

Axis Direct

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