Dharmaj Crop Guard has received Sebi nod for its IPO. Now the company will finalise Dates, Price Band and lot.
Dharmaj Crop Guard Company Details
Dharmaj Crop is an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical formulations such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the B2C and B2B customers. We also engage in the marketing and distribution of agrochemical products under brands in-licensed by it, owned by it and through generic brands, to Indian farmers through its distribution network. It provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. It exports its products to more than 20 countries in Latin America, East African Countries, Middle East and Far East Asia. It sells its agrochemical products in granules, powder and liquid forms . Additionally, it manufacturs and sells general insect and pest control chemicals for Public Health and Animal Health protection.
With an aim to offer a wide product portfolio across the agri-value chain, it continues to expand its product portfolio by introducing new products.
It manufactures and sells various formulations of insecticides, fungicid and herbicides, plant growth regulators, micro fertilizers and antibiotics. It has obtained 392 registrations for agrochemical formulations from the CIB&RC, out of which 201 agrochemical formulations are for sale in India as well as for export and 191 agrochemical formulations are
exclusively for exports. Additionally, it has also applied for registrations of 6 agrochemicals formulations from the CIB&RC, which are pending at various stages.
The Company has over 150 trademark registrations including its branded products. Its formulations are sold as branded products to customers. As of November 30, 2021, it had over 109 branded formulations that are sold to farmers. It sells bulk products to its institutional customers domestically and in the international markets. Further, as of November 30, 2021, it had more than 196 institutional products that it sold to more than 600 customers based in India and in the international markets. As of November 30, 2021, it exported its products to more than 60 customers across 20 countries.
For more information, click www.dharmajcrop.com
The Promoters of Dharmaj Crop Guard
Rameshbhai Ravajibhai Talavia , Jamankumar Hansarajbhai Talavia, Jagdishbhai Ravjibhai Savaliya & Vishal Domadia
Dharmaj Crop Guard IPO Main Objects
The Offer comprises the Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The Net Proceeds are proposed to be utilised towards
1. Funding capital expenditure towards setting up of a manufacturing facility at Saykha, Bharuch, Gujarat;
2. Funding incremental working capital requirements of the Company;
3. Repayment and/or pre-payment, in full and/or part, of certain borrowings of the Company;
Dharmaj Crop Guard IPO Details
Issue Type: Book Built Issue IPO
Issue : up to ? Shares /Rs (?) Crore
* Fresh Issue of (?) Sh/ Rs.216 Cr
* Offer for Sale Up to 1,483,000 Sh/ Rs. ?Cr
Face Value per share : Rs. 10
Dharmaj Crop Guard IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs 5.75
Earnings per Share 2020-21,Rs 8.49
Earnings per Share 2021-22 7M Rs 7.56
Book Value of the Share as on 31.10.2021 Rs 30.16
Return on Net Worth: 19-20 30.55 %
Return on Net Worth: 20-21: 37.33 %
Return on Net Worth: 20-21 7M : 25.07 %
Equity Shares prior to the IPO : 24,683,372 Shares
Equity Shares after the IPO : (?) Shares
The company has issued 8,227,791 bonus shares on 27 November 2021, after the above results and the figures mentioned above have been diluted/ reduced.
Dharmaj Crop Guard IPO Peer Comparison:
Rallis India @ PE Multiple of 23.41
India Pesticides @ PE Multiple of 26.57
Punjab Chemical @ PE Multiple of 37.58
Bharat Rasayan @ PE Multiple of 32.36
Astec Lifesciences @ PE Multiple of 45.68
Heranba Industries @ PE Multiple of 16.62
Dharmaj Crop Guard IPO Lead Managers
Elara Capital, Monarch Networth Capital
Registrar to Dharmaj Crop Guard IPO
Linkintime India Pvt Ltd.
Registered Office of Dharmaj Crop Guard
Plot No. 408 to 411, Kerala GIDC Estate, Off NH-8, At: Kerala, Taluka Bavla, Ahmedabad – 382 220,
Company Secretary & Compliance Officer : Malvika Bhadreshbhai Kapasi