As earlier announced, the Company has appointed celebrated cricketer Rohit Sharma asits brand ambassador for the domestic brand business division. This strategicassociation is aimed at enhancing brand visibility, deepening engagement with farmers,and strengthening Dharmaj’s presence across its operating markets. The initiative formsa key pillar of the Company’s efforts to drive the next phase of growth in its brandedformulations business.
In continuation of its earlier disclosures, Dharmaj has also shared its investorpresentation for the third quarter and nine months ended December 31, 2025, outliningits financial and operational performance.
During the period under review, the Company reported revenue growth of 9% year-on-year in Q3FY26 and 22% year-on-year for the nine-month period. The performance wasdelivered in the context of a relatively muted industry environment, with elevatedchannel inventories and subdued spraying activity impacting demand during the quarter.
The Company’s Active Ingredients segment continued to demonstrate healthyperformance, operating ahead of planned capacity utilization levels. Dharmaj remainsfocused on optimizing its product mix and enhancing integration between technicalmanufacturing and formulations to improve blended profitability.
Profitability during Q3FY26 was impacted by a lower contribution from formulationsand a one-time provision of ₹4.75 million related to labour code amendments. However,on a nine-month basis, EBITDA margins improved to 9.9%, supported by operatingleverage and improved capacity utilization at the Saykha facility.
Further, in line with its previously disclosed growth plans, the Company is progressing with a capital expenditure project to set up a dedicated herbicides formulations unit atits Kerala GIDC facility in Ahmedabad. With an estimated investment of ₹330 million,the facility is expected to be operational by the end of Q2FY27 and is intended tosupport category expansion and improve throughput during peak seasons.
Dharmaj continues to focus on expanding its distribution footprint, strengthening itsproduct portfolio, and scaling its Active Ingredients business, while also building arobust export portfolio to drive sustainable long-term growth.
