Why is Dharmaj Crop Guard Ltd ?
1
Strong ability to service debt as the company has a low Debt to EBITDA ratio of 1.43 times
2
Poor long term growth as Operating profit has grown by an annual rate 15.27% of over the last 5 years
3
Positive results in Sep 25
- NET SALES(Q) At Rs 347.26 cr has Grown at 30.7% (vs previous 4Q average)
- PBT LESS OI(Q) At Rs 22.51 cr has Grown at 34.9% (vs previous 4Q average)
- PAT(Q) At Rs 17.35 cr has Grown at 32.5% (vs previous 4Q average)
4
With ROCE of 15.2, it has a Attractive valuation with a 1.8 Enterprise value to Capital Employed
- The stock is trading at a discount compared to its peers' average historical valuations
- Over the past year, while the stock has generated a return of -23.88%, its profits have risen by 20.4% ; the PEG ratio of the company is 0.8
5
Despite the size of the company, domestic mutual funds hold only 0% of the company
- Domestic mutual funds have capability to do in-depth on-the-ground research on companies- their small stake may signify either they are not comfortable at the price or the business
How much should you hold?
- Overall Portfolio exposure to Dharmaj Crop should be less than 10%
- Overall Portfolio exposure to Pesticides & Agrochemicals should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Pesticides & Agrochemicals)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is Dharmaj Crop for you?
High Risk, Low Return
Absolute
Risk Adjusted
Volatility
Dharmaj Crop
-21.73%
-0.50
47.70%
Sensex
4.56%
0.45
11.83%
Quality key factors
Factor
Value
Sales Growth (5y)
24.67%
EBIT Growth (5y)
15.27%
EBIT to Interest (avg)
13.75
Debt to EBITDA (avg)
1.62
Net Debt to Equity (avg)
0.28
Sales to Capital Employed (avg)
1.55
Tax Ratio
24.70%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
3.56%
ROCE (avg)
12.72%
ROE (avg)
11.64%
Valuation Key Factors 
Factor
Value
P/E Ratio
16
Industry P/E
31
Price to Book Value
2.03
EV to EBIT
11.84
EV to EBITDA
9.53
EV to Capital Employed
1.80
EV to Sales
0.83
PEG Ratio
0.81
Dividend Yield
NA
ROCE (Latest)
15.23%
ROE (Latest)
12.34%
Loading Valuation Snapshot...
Technical key factors
Indicator
Weekly
Monthly
MACD
Bearish
Mildly Bearish
RSI
No Signal
No Signal
Bollinger Bands
Bearish
Bearish
Moving Averages
Mildly Bullish (Daily)
KST
Mildly Bullish
Dow Theory
Mildly Bullish
No Trend
OBV
Mildly Bullish
No Trend
Technical Movement
16What is working for the Company
NET SALES(Q)
At Rs 347.26 cr has Grown at 30.7% (vs previous 4Q average
PBT LESS OI(Q)
At Rs 22.51 cr has Grown at 34.9% (vs previous 4Q average
PAT(Q)
At Rs 17.35 cr has Grown at 32.5% (vs previous 4Q average
-5What is not working for the Company
INTEREST(Q)
At Rs 4.50 cr has Grown at 44.23%
Loading Valuation Snapshot...
Here's what is working for Dharmaj Crop
Net Sales - Quarterly
At Rs 347.26 cr has Grown at 30.7% (vs previous 4Q average)
over average Net Sales of the previous four quarters of Rs 265.79 CrMOJO Watch
Near term sales trend is positive
Net Sales (Rs Cr)
Profit Before Tax less Other Income (PBT) - Quarterly
At Rs 22.51 cr has Grown at 34.9% (vs previous 4Q average)
over average PBT of the previous four quarters of Rs 16.69 CrMOJO Watch
Near term PBT trend is positive
PBT less Other Income (Rs Cr)
Profit After Tax (PAT) - Quarterly
At Rs 17.35 cr has Grown at 32.5% (vs previous 4Q average)
over average PAT of the previous four quarters of Rs 13.09 CrMOJO Watch
Near term PAT trend is positive
PAT (Rs Cr)
Here's what is not working for Dharmaj Crop
Interest - Quarterly
At Rs 4.50 cr has Grown at 44.23%
Quarter on Quarter (QoQ)MOJO Watch
Rising interest cost signifies increased borrowings
Interest Paid (Rs cr)
Interest - Quarterly
Highest at Rs 4.50 cr
in the last five quarters and Increased by 44.23 % (QoQ)MOJO Watch
Rising interest cost signifies increased borrowings
Interest Paid (Rs cr)






