Dhanuka Agritech (BSE: 507717) is not just an agriculture focused company. Pharma is its 2nd line of business. Agro-Chemicals & Seeds business is under Dhanuka Agritech Limited and Pharma business under Dhanuka Laboratories Limited. The group is worth Rs. 500 crores (USD 125 million) and has world class manufacturing facilities across India including 4 Agro-Chemicals Formulation Units, 2 Seed Processing units and a WHO-GMP Certified API (pharmaceutical ingredient) Facility.
The Group has a pan India presence, with branches in all major Indian states and over 15000 strong dealer's network and a 1000 strong techno-commercial team. Results over the last 5 years have been very consistent in terms of growth in reserves, net asset value and EPS.
Valuation is reasonable and a lot of steam is left in the script. Buy at 75-76 for a short term 2-3 month target of 90.
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