Dharmaj Crop Guard saw a healthy start to FY27 despite challenging conditions like delayed monsoons. **Business Performance:** Revenue climbed 5% YoY to ₹384.1 Cr.

Profit After Tax jumped 17% YoY to ₹38.1 Cr, with EPS at ₹11.26. EBITDA rose 13% YoY to ₹57.3 Cr, pushing margins to 15%. Exports soared 116% YoY to ₹37.5 Cr.

Branded Formulations grew 4% YoY to ₹198 Cr, aided by a better product mix.

Domestic Active Ingredients, however, dipped 14% YoY to ₹72.1 Cr due to macro headwinds. **Growth Drivers & Strategy:** Key focus is on improving the product mix in Branded Formulations for better profitability.

The company is also aligning Active Ingredients production with internal needs to boost overall profitability and capacity utilization. **Recent Developments:** A new B2C product, 'ORMARA', was launched.

The new Herbicides manufacturing facility in Ahmedabad is on track, expected to enhance product mix and free up existing capacity. **Management Outlook:** Management reaffirmed its annual growth target, confident in Branded Formulations' strength, Active Ingredients' scale-up, and a resurgence in Exports.

The company is geared to navigate near-term challenges while pursuing sustainable long-term growth.