Incorporated in 2015, Dharmaj Crop Guard Limited is an agrochemical company. The company is engaged in the business of manufacturing, distributing, and marketing a wide range of agrochemical formulations such as insecticides, fungicides, herbicides, plant growth regulators, micro fertilizers and antibiotics to the B2C and B2B customers.
The company also provides crop protection solutions to the farmer to assist them to maximize productivity and profitability. Dharmaj Crop Guard Limited export products to more than 20 countries in Latin America, East African Countries, the Middle East and Far East Asia.
As of November 30, 2021, Dharmaj Crop Guard Limited had more than 196 institutional products that they sold to more than 600 customers based in India and the international markets. As of November 30, 2021, the company exported its products to more than 60 customers across 20 countries.
The company’s manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited also has a research and development (“R&D”) centre at the manufacturing facility.
The company’s branded products are sold in 12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India, as of November 30, 2021.
The revenue from operations for Fiscals 2019, 2020 and 2021 and seven months period ended on October 31, 2021, was Rs 1,393.56 million, Rs 1,982.22 million, Rs 3,024.10 million and Rs 2,272.62 million, respectively.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 47.66 | 139.95 | 5.02 | 10.46 | 20.35 |
| 31-Mar-20 | 92.58 | 199.16 | 10.76 | 35.22 | 20.18 |
| 31-Mar-21 | 128.87 | 303.56 | 20.96 | 56.14 | 26.92 |
| 31-Mar-22 | 219.54 | 396.29 | 28.69 | 82.82 | 36.93 |
| 31-Jul-22 | 305.76 | 221.17 | 18.36 | 101.17 | 51.56 |
| Amount in ₹ Crore |
Objects of the Issue
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
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.
4. General corporate purposes.
Dharmaj Crop Guard IPO Details
| IPO Date | Nov 28, 2022 to Nov 30, 2022 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹216 to ₹237 per share |
| Lot Size | 60 Shares |
| Issue Size | 10,596,924 shares of ₹10 (aggregating up to ₹251.15 Cr) |
| Fresh Issue | 9,113,924 shares of ₹10 (aggregating up to ₹216.00 Cr) |
| Offer for Sale | 1,483,000 shares of ₹10 (aggregating up to ₹35.15 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| Company Promoters | Rameshbhai Ravajibhai Talavia, Jamankumar Hansarajbhai Talavia, Jagdishbhai Ravjibhai Savaliya and Vishal Domadia are the company promoters. |
Dharmaj Crop Guard IPO Tentative Timetable
Dharmaj Crop Guard IPO opens on Nov 28, 2022, and closes on Nov 30, 2022. The Dharmaj Crop Guard IPO bid date is from Nov 28, 2022 10.00 A.M. to Nov 30, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Nov 28, 2022 |
| Closing Date | Nov 30, 2022 |
| Basis of Allotment | Dec 5, 2022 |
| Initiation of Refunds | Dec 6, 2022 |
| Credit of Shares to Demat | Dec 6, 2022 |
| Listing Date | Dec 8, 2022 |
Dharmaj Crop Guard IPO Lot Size
The Dharmaj Crop Guard IPO lot size is 60 shares. A retail-individual investor can apply for up to 14 lots (840 shares or ₹199,080).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 60 | ₹14,220 |
| Retail (Max) | 14 | 840 | ₹199,080 |
| S-HNI (Min) | 15 | 900 | ₹213,300 |
| B-HNI (Min) | 71 | 4,260 | ₹1,009,620 |
Dharmaj Crop Guard IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.03% |
Dharmaj Crop Guard IPO Review
DCGL is in the agrochemical segment and has created a niche place with its B2C and B2B model. It has posted steady growth in its top and bottom lines and is poised for bright prospects with more products launch up its sleeves. Currently, this segment is also witnessing fancy in the market. Investors may consider investment for the medium to long-term rewards. Read detail review…
Dharmaj Crop Guard IPO Prospectus
Company Contact Information
Dharmaj Crop Guard Limited
Plot No. 408 to 411,
Kerala GIDC Estate, Off NH-8, At: Kerala,
Taluka Bavla, Ahmedabad – 382220
Phone: +91-79-29603735
Email:
Website: http://www.dharmajcrop.com/
Dharmaj Crop Guard IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: dharmaj.crop@linkintime.co.in
Website: https://linkintime.co.in/