Dhanuka Agritech

What Dhanuka Agritech does

Dhanuka Agritech Limited is an Indian agrochemical manufacturer and marketer, listed on the NSE (DHANUKA) and BSE (507717), with the Dhanuka promoter family retaining approximately 69.81% control post the June 2026 buyback. Founded in its current form in 1980, the company has grown into a domestic crop-protection major serving roughly 10 million farmers annually through 7,000+ distributors and 75,000+ retailers organized across four regional zones. Its portfolio spans eight categories: herbicides, fungicides, insecticides, biologicals, plant growth regulators, bio-stimulants, efficacy enhancers, and bio-fertilizers, anchored by flagship brands such as OXYKILL, Targa Super, Melody Duo, Aaatank, DINKAR, Wetcit, Mycore, and Dhanzyme Gold.

The company operates four manufacturing facilities (Sanand in Gujarat, Keshwana in Rajasthan, Udhampur in Jammu & Kashmir, and Dahej in Gujarat) plus the Dhanuka Agritech Research and Technology (DART) centre at Palwal, Haryana, which houses 11 R&D laboratories and a precision-agriculture demonstration farm. Technical and formulation know-how is combined with co-developed molecules from global innovators including Bayer, Corteva, FMC, Syngenta, Sumitomo Chemical, Nissan Chemical, Nippon Soda, Hokko Chemical, OAT Agrio, and Oro Agri. All facilities carry ISO 9001/14001/45001 certifications, NABL-accredited labs, and Zero Liquid Discharge systems.

The business model is a B2C one-time-purchase agrochemical sale through Indian distributors and retailers, supplemented by an emerging international licensing/royalty stream following the April 2025 acquisition of international rights to Bayer's Iprovalicarb and Triadimenol fungicides (~₹167 crore), distributed across 20+ countries in Latin America, MENA, Europe, Asia, and India. FY 2025-26 revenue from operations was ₹2,019.79 crore with PAT of ₹287.23 crore (EPS ₹63.72); Q4 FY26 net profit of ₹97.77 crore was up 29.49% YoY, signaling a late-year recovery. Capital returns to shareholders include a ₹70 crore buyback completed in June 2026.

Name

Dhanuka Agritech

Legal name

Dhanuka Agritech Limited

Website

https://dhanuka.com

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Dhanuka Agritech is a publicly listed Indian agrochemical manufacturer selling herbicides, fungicides, insecticides, biologicals, and bio-stimulants to roughly 10 million farmers annually through 7,000+ distributors and 75,000+ retailers, and is now extending its branded portfolio internationally via acquired Bayer fungicide rights.

Ownership category

akta.pro rank

Product category

Crop Protection (Agrochemicals)

NAICS

Pesticide and Other Agricultural Chemical Manufacturing (32532), Pesticide and Other Agricultural Chemical Manufacturing (325320), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253)

SIC

Agricultural Chemicals (2870)

akta.pro primary industry

Crop Protection Formulations (EC, SC, WG, WP, SL) (AFABAIAA)

akta.pro secondary industries

Crop Protection Chemicals (Herbicides/Insecticides/Fungicides) (IMAEAEAI), Agronomy Advisory & Field Services (Retailer-Affiliated) (AFABAJAH), Biological Formulation, Fermentation & Scale-Up Manufacturing (AFABAEAM)

Keywords

• Crop protection products
• Agrochemical manufacturing
• Agricultural inputs
• Crop science solutions
• Plant health products

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Agrochemical Product Sales: Revenue generated from selling crop protection products including herbicides, fungicides, insecticides, biologicals, plant growth regulators, bio-stimulants, and bio-fertilizers to Indian farmers through distribution network
2. International Product Rights: Revenue from international expansion through acquired Bayer fungicide products (Iprovalicarb and Triadimenol) distributed across 20+ countries in Latin America, MENA, Europe, Asia, and India

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Dhanuka Agritech manufactures and distributes a diversified portfolio of crop protection products across eight categories: herbicides, fungicides, insecticides, biologicals, plant growth regulators, bio-stimulants, efficacy enhancers, and bio-fertilizers. The company sells its branded products primarily to Indian farmers through a distribution network of 7,000+ distributors and 75,000+ retailers, and is expanding internationally with acquired fungicide rights. Products are developed in-house at the DART R&D center and manufactured at four facilities (Sanand, Keshwana, Udhampur, Dahej) under ISO-certified processes, with strategic partnerships bringing co-developed innovations from global agri-science leaders such as Bayer, Corteva, FMC, Syngenta, Sumitomo, Nissan Chemical, and Hokko Chemical.

Product overview

Dhanuka Agritech is an Indian agrochemical company offering a diversified portfolio of agri-input solutions organized across eight product categories: Herbicides (26 products including OXYKILL, D-Era, Turmoil, Dinkar, Targa Super), Fungicides (20 products including Melody Duo, Lustre, Delight, ZANET, Nissodium, Kirari), Insecticides (32 products including Markar Super, Aaatank, Foster, MIYAKO, LANEVO), Biologicals (6 products including Myconxt, Omninxt, Downil, Sporenil), Plant Growth Regulators (1 product: Maxyld), Bio-Stimulants (3 products including Dhanzyme Gold), Efficacy Enhancers (2 products: Wetcit, Suelo), and Bio-Fertilisers (2 products: Mycore Super, Mycore). The company operates as a non-platform, non-modular product company with a B2C domestic focus and recently announced international expansion through acquired Bayer brands. Products are manufactured at four facilities (Sanand, Keshwana, Udhampur, Dahej) and distributed through 7,000+ distributors and 75,000+ retailers serving 10 million farmers annually.

Differentiator

Problem solved

Functional benefit

Brands

• DART (Dhanuka Agritech Research and Technology Centre): State-of-the-art R&D and training centre for farmers located at village Sihol (Aligarh road), Palwal, Haryana. Focuses on research, development, and dissemination of innovative agricultural technologies.

Products and services

• OXYKILL Herbicide Herbicide product for weed control in agricultural crops, sold by Dhanuka Agritech through its distribution network to Indian farmers.
• Dinkar Herbicide Herbicide for transplanted paddy crops developed with Japan's Hokko Chemical Industry Co., Ltd. using ipfencarbazone chemistry, providing 45-50 days of broad-spectrum weed control including barnyard grass and sedges.
• Melody Duo Fungicide Fungicide product for disease control in agricultural crops, distributed under the Dhanuka brand through its pan-India channel network.
• ZANET Fungicide Fungicide product developed in collaboration with Hokko Chemical Industry Ltd. and Nippon Soda Co., Ltd., sold to Indian farmers for fungal disease control in crops.
• Aaatank Insecticide Insecticide product developed in collaboration with FMC Corporation for pest control in agricultural crops, distributed to Indian farmers.
• Maxyld Plant Growth Regulator Plant growth regulator product for which Dhanuka passed on GST rate reductions to customers effective September 22, 2025, used for crop growth management.
• Dhanzyme Gold Bio-Stimulant Bio-stimulant powered by seaweed for root growth stimulation; available in liquid (Dhanzyme Gold Liq) and granular (Dhanzyme Gold Granules) formats for crop productivity enhancement.
• Wetcit Efficacy Enhancer Efficacy enhancer product developed in collaboration with Oro Agri International Ltd., improving the performance of crop protection sprays and overall agricultural output.
• Mycore Bio-Fertiliser Bio-fertiliser containing Rhizobium microorganisms for nitrogen fixation; developed in collaboration with Agrinos India Pvt. Ltd. for soil enrichment and crop nutrition.
• Biologicals Range (Myconxt, Omninxt, Downil, Sporenil, Whiteaxe, Nemataxe) Biological crop protection and plant nutrition products (Myconxt, Omninxt, Downil, Sporenil, Whiteaxe, Nemataxe) offering natural plant nutrition and protection, including nematicide functionality.
• Iprovalicarb Fungicide (acquired from Bayer) Fungicide product acquired from Bayer AG as part of the international rights acquisition; distributed across 20+ countries in Latin America, MENA, Europe, Asia, and India, with manufacturing planned at the Dahej facility.
• Triadimenol Fungicide (acquired from Bayer) Fungicide product acquired from Bayer AG as part of the international rights acquisition; distributed across 20+ countries in Latin America, MENA, Europe, Asia, and India.
• Dhanuka Agritech Research and Technology Centre (DART) State-of-the-art Research and Training Centre for farmers at Palwal, Haryana, comprising 11 R&D laboratories (Organic synthesis, Analytical, Formulation Development, Soil & water analysis, Agri R&D, Botanicals, Bio-pesticides, Bioassay, Insect-Rearing), a research farm with AI-based precision agriculture technologies including drones and weather stations, and a training centre for 100 people.

Quantifiable outcome

• Revenue of ₹2,019.79 crore in FY 2025-26
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature2 records

Partnerships

14 partnerships are on record, tiered core, flagship and minor.

• Hokko Chemical Industry Co. Ltd. (Japan)coreStrategic or Co-development Partner · 23 May 2025Partnership for launching herbicide DINKAR for transplanted paddy crops using ipfencarbazone chemistry providing 45-50 days broad-spectrum weed control
• Bayer AGflagshipStrategic or Co-development Partner · 4 April 2025Acquired international rights for two Bayer fungicide products (Iprovalicarb and Triadimenol) for approximately ₹167 crore (INR 167 crore), expanding presence across 20+ countries in Latin America, MENA, Europe, Asia, and India. Combined global revenue for these products was about INR 224 crore in 2023 with peak revenue of INR 245 crore in 2022
• Agrinos India Pvt. Ltd.minorStrategic or Co-development PartnerCo-created innovation partnership for MYCORE biofertilizer product
• Corteva AgrisciencecoreStrategic or Co-development PartnerCo-created innovations including DABOOCH, DEFEND, LARGO products through licensing and distribution partnerships
• FMC Corporation (USA)coreStrategic or Co-development PartnerCo-created innovations including AAATANK, COVER GR, COVER'SC, NABOOD products
• Hokko Chemical Industry Co. Ltd. (Japan)coreStrategic or Co-development PartnerCo-created CONIKA, DINKAR, KASU-B, ZANET products; DINKAR herbicide launched in 2025 for transplanted paddy crops using ipfencarbazone chemistry
• Nippon Soda Co. Ltd. (Japan)minorStrategic or Co-development PartnerCo-created NISSODIUM and ZANET products
• Nissan Chemical Corporation (Japan)coreStrategic or Co-development PartnerCo-created multiple products including CHEMPA, DOZO MAXX, KIRARI, LANEVO, MIYAKO, ONEKIL, PURGE, SAKURA, SEMPRA, TARGA SUPER, TIZOM, TORNADO
• OAT Agrio Co. Ltd. (Japan)minorStrategic or Co-development PartnerCo-created FOSTERM product
• Oro Agri International Ltd.minorStrategic or Co-development PartnerCo-created WETCIT efficacy enhancer product
• Sumitomo Chemical Company Ltd. (Japan)coreStrategic or Co-development PartnerCo-created CALDAN 4G, CALDAN SOSP, SHEATHMARM products
• Syngenta India Ltd. (Switzerland)coreStrategic or Co-development PartnerCo-created FENOX-1000 and SEMACIA products
• Indian Council of Agricultural Research (ICAR)coreStrategic or Co-development PartnerStrategic MoU signed for agricultural R&D and technology transfer, promoting innovations through frontline demonstrations, farmer training, and broader dissemination of scientific practices
• State Agricultural Universities (SAUs)minorStrategic or Co-development PartnerCollaboration through region-specific research, student exchange, curriculum development, and field trials for localized innovation

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• BASF India (Agricultural Solutions): Indian arm of the German chemicals major with a crop protection portfolio (fungicides, insecticides, herbicides) that competes broadly with Dhanuka's branded offerings.
• Corteva Agriscience India: Global seeds and crop protection major — also a Core co-innovation partner of Dhanuka (DABOOCH, DEFEND, LARGO) — competing across the same Indian crop protection categories.
• FMC Corporation India: US-based global crop protection major with India operations; co-creates products with Dhanuka (AAATANK, COVER GR, NABOOD) while also competing through its own branded portfolio.
• Syngenta India: Swiss multinational's Indian arm operating across herbicides, fungicides, and insecticides, and a direct co-creation partner of Dhanuka — competing on portfolio depth and brand in the same farmer base.
• Bayer CropScience India: Indian subsidiary of Bayer AG, the global seed and crop protection major; competes in the same categories and is the counterparty in Dhanuka's flagship fungicide international rights acquisition.

Regional players

• Coromandel International: Murugappa-group Indian agri-input company with overlapping crop protection products and an India-wide dealer network; competes mainly in the Indian market like Dhanuka but is more fertilizers-led.

Direct peers

• Sumitomo Chemical India: Indian arm of Sumitomo Chemical — a Core strategic partner of Dhanuka — with overlapping crop protection products and similar distributor-led reach into Indian farmers.
• Rallis India (Tata Group): Tata-backed Indian agrochemical company competing in the same crop protection categories (insecticides, fungicides, herbicides) with domestic manufacturing and a large Indian distributor-retailer footprint.
• UPL Limited: India's largest agrochemical company with a comparable crop protection portfolio (herbicides, fungicides, insecticides), in-house manufacturing, and a wider global footprint — the most direct scale comparable to Dhanuka.
• PI Industries: Indian agrochemical manufacturer and CSM (custom synthesis) player with a strong distribution network in crop protection and strategic partnerships with global innovators, directly comparable to Dhanuka's partner-led model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dhanuka Agritech