Dharmaj Crop Guard Ltd commissions greenfield facility in Sayakha GIDC, Gujarat

Dharmaj Crop Guard Limited, one of the fastest-growing players in the agrochemical industry, announces the successful commissioning of its greenfield manufacturing facility in Sayakha GIDC, Gujarat. This facility represents a strategic shift for Dharmaj as it forays into technicals & intermediates manufacturing.

The state-of-the-art facility, equipped with world-class infrastructure and designed in accordance with export market regulatory standards, commenced commercial production on January 22, 2024. Divided into 4 blocks; 2 for intermediates, a multi-purpose technical block and a recovery block, it is capable of manufacturing multiple products simultaneously.

In addition to the production blocks, the facility boasts a dedicated Research and Development (R&D) Centre and Quality Control (QC) Laboratory. This comprehensive setup emphasizes Dharmaj's commitment to innovation, quality assurance, and excellence in manufacturing.

Commenting on this milestone, Mr. Rameshbhai Talavia, Chairman and Managing Director, said: "The commissioning of this facility was a primary objective of Dharmaj's public issue in December 2022. Demonstrating efficiency in execution and dedication, the Company has delivered this significant milestone in little over a year of its listing. Financing for the project has been achieved through a prudent mix of proceeds from the Initial Public Offering (IPO), internal accruals, and debt.

More than a manufacturing facility, this marks Dharmaj's strategic positioning across the entire value chain of agrochemical manufacturing, achieving end-to-end integration. The journey from being a formulator to an integrated agrochemical manufacturer begins now, this is underpinned with our robust distribution network in India and abroad, and a growing portfolio of brands.

This facility will not only enhance our blended profitability margin and strengthen our existing formulations business but also opens up new opportunities in domestic and export markets. We are also looking forward to venture into new verticals such as public and animal health from this facility.

Dharmaj is optimistic about the opportunities presented by the Indian agrochemical sector, even in the face of temporary headwinds in the export markets. The Company is strategically positioning itself to capture these opportunities in the coming years and is committed to delivering sustainable growth and value to all its stakeholders."

Shares of Dharmaj Crop Guard Limited was last trading in BSE at Rs. 257.70 as compared to the previous close of Rs. 256.55. The total number of shares traded during the day was 12382 in over 715 trades.

The stock hit an intraday high of Rs. 260.90 and intraday low of 256.35. The net turnover during the day was Rs. 3202385.00.

Source : Equity Bulls

Keywords

DharmajCropGuard INE00OQ01016 Pesticides Agrochemicals Greenfield ManufacturingFacility SayakhaGIDC Gujarat