Dharmaj Crop Guard IPO

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Dharmaj Crop Guard IPO

Dharmaj Crop Guard Ltd., an Ahmedabad-based agrochemical firm, has filed preliminary documents with SEBI to raise Rs.300 crores. The offering includes a fresh issue of equity shares with a face value of Rs.10 apiece worth up to Rs.216 crores and an offer-for-sale (OFS) of up to 14.83 lakh equity shares by existing shareholders.

The issue's book-running lead managers are Monarch Networth Capital and Elara Capital (India). If you are existing user of Angelone, Pre-apply Now and avoid last minute hustle

Opening Date

Nov 28, 2022

Closing Date

Nov 30, 2022

Price Band

₹216 - ₹237

per equity share

Issue Size

₹248 - ₹251 Cr

Face Value

₹10

per equity share

Market Lot

60 Shares

Opening Date

Nov 28, 2022

Closing Date

Nov 30, 2022

Price Band

₹216 - ₹237

per equity share

Issue Size

₹248 - ₹251 Cr

Face Value

₹10

per equity share

Market Lot

60 Shares

Listing at NSE, BSE

Dharmaj Crop Guard IPO Important Dates

IPO Open Date Nov 28, 2022
IPO Close Date Nov 30, 2022
Allotment Date Dec 05, 2022
Initiation Of Refunds Dec 06, 2022
Credit Of Shares To
Demat Account
Dec 06, 2022
IPO Listing Date Dec 08, 2022
UPI Mandate Expiry Date Nov 30, 2022

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About Dharmaj Crop Guard

Dharmaj Crop manufactures, distributes, and markets a comprehensive variety of agrochemical formulations to both B2C and B2B consumers, including insecticides, fungicides, herbicides, plant growth regulators, micro fertilisers, and antibiotics. It also provides crop protection solutions to farmers in order to help them increase production and profit. The company has 392 CIB&RC registrations for agrochemical formulations, of which 201 are for sale in India as well as for export, 191 are exclusively for export, and applications for another 6 agrochemical formulations are pending at various stages. It also has over 150 trademark registrations, including its own branded products. Atul Limited, Heranba Industries Limited, Innovative Agritech Private Limited, Meghmani Industries Limited, Bharat Rasayan Limited, Oasis Limited, United Insecticides Private Limited, and Sadik Agrochemicals Co. Ltd. are some of the company's important clients.

More than 20 nations in Latin America, East Africa, the Middle East, and Far East Asia get the company's products. Branded items are distributed in 12 Indian states through a network of over 3,700 dealers with access to eight stock depots.

Dharmaj Crop Guard IPO Objectives

- Funding capital expenditure towards setting up a manufacturing facility at Saykha, Bharuch, Gujarat.
- Funding incremental working capital requirements of the Company.
- Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company.
- General corporate purposes

Why should you invest in the Dharmaj Crop Guard IPO?

  • During the five-year period 2016-2020, the global pesticides market has grown at a Compounded Annual Growth Rate (CAGR) of 4.3% from USD 57 billion in 2016 to USD 67 billion in 2020.
  • It is expected that the pesticides market in the regions like India and China will grow at a faster CAGR of 3.4%-3.7% by 2024 compared to other regions.

Financial Highlights

(₹ in Crore, except percentage and number of days)

Particulars 2022 2021 2020 2019
Revenue operations 227.262 302.410 198.222 139.356
Y-o-y growth - 52.56% 42.24% 119.74%
Total income 228.154 303.565 199.165 139.952
Y-o-y growth - 52.42% 42.31% 120.05%
EBITDA 29.177 32.038 18.577 11.013
EBITDA margin 12.84% 10.59% 9.37% 7.90%
PAT 18.667 20.960 10.759 5.022
PAT margin 8.21% 6.93% 5.43% 3.60%
ROCE 27.41% 39.97% 39.08% 31.36%
ROE 25.07% 37.33% 30.55% 48.03%
Working capital cycle 47 days 34 days 40 days 52 days

How to apply for Dharmaj Crop Guard IPO

Retail investors need to apply for the IPO using UPI.

UPI

  • Link your bank account to a UPI ID.
  • Register your UPI id with your Demat account.
  • Subscribe for Dharmaj Crop Guard IPO and approve the payment on your UPI ID.

Demat Account

Dharmaj Crop Guard IPO Noteworthy Highlights:

  • Dharmaj Crop Guard manufacture a wide range of insecticides to suit the requirement of farmers in preventing and curating different crops from being damaged by insects. They develop an effective, safe, and sustainable range of insecticides to help farmers and prevent crops from being damaged.
  • The company exports its products to more than 20 countries in Latin America, East African Countries, the Middle East and Far East Asia. The branded products are sold in 12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India.

The Brand’s Pros & Cons:

Pros Cons
A diverse product portfolio with a constant focus on quality and innovation. Failure to adhere to customer-mandated quality standards, technical requirements, frequent inspections, and audits may result in the loss of business.
Strong research and development skills with an emphasis on innovation and long-term viability. The bulk of the company's consumers does not have long-term contracts.
A stable relationship with institutional clients and established distribution network with strong branded products Failure to obtain appropriate registrations or maintain statutory and regulatory permissions and approvals would have a negative impact on the company's and manufacturing facility's operations.

Competitive Analysis: Market Peers

Name of the Company Total Revenue Basic EPS Nav Rs. per share PE RoNW%
Dharmaj Corp Guard Limited 302.4 8.5 22.8 NA 37.3%
Rallis India 2429.4 11.8 81.8 23.4 14.4%
India Pesticides 649.0 12.1 33.8 26.6 34.5%
Punjab Chemical & Corp Protection 678.2 40.0 117.9 37.6 34.0%
Bharat Rasayan 1092.0 385.7 1750.3 32.4 22.5%
Astec Lifesciences 554.9 33.2 157.9 45.7 23.4%
Heranba Industries 1218.6 39.4 132.0 16.6 29.2%

Dharmaj Crop Guard IPO FAQs

What is Dharmaj Crop Guard IPO?

Dharmaj Crop Guard IPO consists of equity shares worth up to Rs 216 crore with a face value of Rs 10 each and an offer-for-sale of up to 14.83 lakh equity shares by existing shareholders.

When will the Dharmaj Crop Guard IPO allotment be available?

The shares will be allotted to the investor’s Demat on December 6, 2022.

What will be the Dharmaj Crop Guard IPO lot size?

One lot of Dharmaj Crop Guard IPO will contain 60 shares.

When will Dharmaj Crop Guard IPO open for subscription?

The IPO subscription window will open on November 28, 2022.

What minimum lot size can retail investors subscribe to?

The minimum investment size is one lot for retail investors.

When will Dharmaj Crop Guard list on exchanges?

Dharmaj Crop Guard IPO will list on the exchange on December 8, 2022.

How to check the allotment status of Dharmaj Crop Guard IPO?

Angel One investors can log in to their account to check the allotment status of the Dharmaj Crop Guard IPO.

What is the size of the Dharmaj Crop Guard IPO?

The company aims to raise Rs 248-251 crore through the IPO.

How will I receive shares?

Your shares will get credited directly to your Demat account.

Is it necessary to approve a UPI mandate request immediately?

Approving UPI payment is the final step to completing the IPO application. Investors usually have T+1 days to approve the payment mandate in their UPI handles.

How to apply for this Dharmaj Crop Guard IPO via the Angel One App?

To apply for the IPO from the Angel One app, log in to your customer account, search for Dharmaj Crop Guard IPO in the active IPO list, and click on, Apply.

What is the minimum order quantity for Dharmaj Crop Guard IPO?

The minimum order size for retail investors is 60 shares.

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