DHANUKA Q2 FY27 Guidance vs Delivery (DHANUKA Management Mirror)

Q2 FY27 Revenue Grows 9.9% YoY; FY27 Guidance Reaffirmed at Low Single-Digit Growth in Sep'26 Qtr

In Q2 FY27, Dhanuka Agritech reported a 9.9% YoY increase in revenue from operations to Rs. 65,751 Lacs, with volume growth around 6%. Against management's initial FY27 low double-digit revenue growth guidance issued in the Mar'26 Qtr concall, which was subsequently downgraded to small single-digit growth in the Jun'26 Qtr amid delayed monsoons, the Q2 FY27 revenue performance delivered a sequential recovery. However, management reaffirmed the revised guidance for low single-digit revenue growth for the full year FY27 in the Sep'26 Qtr concall. Management noted that the approximately 10% growth rate seen in Q2 FY27 would not continue into Q3 and Q4, anticipating subdued market conditions for the upcoming Rabi season, though channel movement appears promising in the South and East zones due to returning monsoons.