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, 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 |
Dharmaj Crop Guard IPO Subscription Status Today [Live]
- (QIB) Qualified institutional buyers: 48.21
- (NII) Non-institutional buyers: 52.29
- (RII) Retail Individual buyers: 21.53
- Employees: 7.48
- (QIB) Qualified institutional buyers: 23.01
- (NII) Non-institutional buyers: 41.40
- (RII) Retail Individual buyers: 18.01
- Employees: 6.40
- (QIB) Qualified institutional buyers: 1.64
- (NII) Non-institutional buyers: 26.87
- (RII) Retail Individual buyers: 14.79
- Employees: 5.24
- (QIB) Qualified institutional buyers: 0.82
- (NII) Non-institutional buyers: 11.11
- (RII) Retail Individual buyers: 9.18
- Employees: 3.98
- (QIB) Qualified institutional buyers: 0.76
- (NII) Non-institutional buyers: 8.74
- (RII) Retail Individual buyers: 7.75
- Employees: 3.75
- (QIB) Qualified institutional buyers: 0.37
- (NII) Non-institutional buyers: 6.18
- (RII) Retail Individual buyers: 6.43
- Employees: 2.53
- (QIB) Qualified institutional buyers: 0.36
- (NII) Non-institutional buyers: 4.02
- (RII) Retail Individual buyers: 5.18
- Employees: 2.36
- (QIB) Qualified institutional buyers: 0.36
- (NII) Non-institutional buyers: 2.40
- (RII) Retail Individual buyers: 3.39
- Employees: 1.91
- (QIB) Qualified institutional buyers: 0.35
- (NII) Non-institutional buyers: 1.80
- (RII) Retail Individual buyers: 2.60
- Employees: 1.77
- (QIB) Qualified institutional buyers: 0.35
- (NII) Non-institutional buyers: 0.86
- (RII) Retail Individual buyers: 1.90
- Employees: 0.89
- (QIB) Qualified institutional buyers: 0.34
- (NII) Non-institutional buyers: 0.48
- (RII) Retail Individual buyers: 1.15
- Employees: 0.53
- (QIB) Qualified institutional buyers: 0.00
- (NII) Non-institutional buyers: 0.21
- (RII) Retail Individual buyers: 0.59
- Employees: 0.23
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
- If you’re a new investor, Open a DEMAT Account for free with Angel One and begin your investment journey.
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% |
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