**Financial Highlights:** Dharmaj Crop Guard kicked off FY26 strong!

Revenue up 44% YoY to ₹367.4 Cr.

EBITDA soared 88% to ₹50.7 Cr, at 14% margin.

PAT jumped 116% to ₹32.6 Cr (9% margin), with gross margin improving to 24%. Fueled by strong Kharif season start. **Strategic Initiatives & Growth Drivers:** Domestic Active Ingredients, a new growth engine, surged 62% YoY, leveraging higher Sayakha plant utilization.

Strategy focuses on new product launches, optimizing mix, and boosting captive consumption for better margins.

Product registrations are actively progressing. **Business Developments:** Core Formulations remained robust: Branded Formulations rose 35% YoY (4 new products), Domestic Institutional up 38%. Export sales rebounded sharply (up 83%). Retail touchpoints expanded to 18K+, boosting market reach. **Market Position & Competitive Advantage:** Formulations are the performance bedrock.

Active Ingredients offer potential margin improvement as industry demand recovers, with focus on leveraging plant capacity effectively. **Investor Implications:** With robust Q1 and favorable market conditions, Dharmaj is well-positioned for the Kharif season.

Expect positive growth potential and sustained momentum across segments.