Whalesbook
Asal mein, company ne revenue mein bhi 9.3% ka growth achieve kiya, total ₹483 Crore tak pahunch gaya. Lekin yahaan ek twist hai, bhai. Operating profits yaani EBITDA margins thoda dabav mein aa gaye hain. Pehle 28.5% the, ab 27.3% ho gaye hain. EBITDA growth bhi sirf 4.8% hi raha. Iska matlab hai ki revenue toh badha, par costs shayad thodi zyada badh gayin.
Janta ko khush karne ke liye, company ne ₹70 Crore ka share buyback announce kiya hai, jisme woh 5 Lakh shares tak buy kar sakte hain ₹1,400 per share ke price par. Aur haan, ₹2 ka final dividend bhi diya hai. Buyback ke liye record date 29th May hai aur dividend ke liye 17th July. Promoters bhi buyback mein participate karne wale hain, toh confidence dikha rahe hain!
Sector mein jab 6-7% ka growth expected hai, Dhanuka ka valuation kaafi attractive lag raha hai. Inka P/E ratio lagbhag 18.4-19.3x hai, jo industry average 46.20x se kaafi kam hai. Yeh UPL (22.11x), PI Industries (32.69x), aur Bayer CropScience (29.16x) se bhi kam hai, aur Bharat Rasayan (17.41x) ke aas paas hai. Sharda Cropchem (12.85x) se thoda zyada hai. Jabki Sharda Cropchem ne bhi acche results dikhaye the margin growth ke saath. UPL ki toh stock price revenue growth ke bawajood gir gayi thi.
Pata hai, pichhle ek saal mein Dhanuka ka stock 25% se zyada gira hai, ₹889.60 se ₹1,975 ke beech trade kar raha tha. Toh investors thoda cautious lag rahe hain. Margin squeeze aur badhti competition ke karan kuch analysts ne FY26 ke liye revenue aur EPS estimates bhi kam kar diye hain, kuch toh negative growth bhi predict kar rahe hain.
Analyst targets ₹1,194.83 se ₹1,695.67 tak hain, matlab 50% tak ka upside potential bhi ho sakta hai. Lekin bhai, company ko margin pressure aur competition ko manage karna hoga tabhi yeh potential dikhega.