Mumbai, 08th December 2022 (GNI): (L-R) Mr. Vishal Damodia, Chief Financial Officer, Mr. Rameshbhai Talavia, Chairman & MD, Mr. Jaman Talavia, Whole Time Director and Mr. Jagdishbhai Ravjibhai Savaliya, Whole Time Director of Dharmaj Crop Guard Limited at the iconic bell-ringing ceremony today, at NSE Mumbai.
Mumbai, December 08, 2022 (GNI): Dharmaj Corp Guard Limited is an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the B2C and B2B customers (“The Company”) makes a blockbuster debut on the exchanges to close more than 12% premium to its issue price.
The scrip listed Rs 266 per share on BSE and Rs 266.05 per share on NSE, at a premium of 12.24% and 12.26% respectively. The company’s share price closed at Rs 266.40 per share on the BSE, a 12.41% premium, and at Rs 267 per share on the NSE, a 12.66% premium.
As per NSE, the total quantity traded stood at 130.56 lakh shares, on BSE the total Quantity stood at 9.48 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 381.05 crore.
Mr. Rameshbhai Talavia, Chairman and Managing Director – Dharmaj Crop Guard Limited said “I thank all the investors from the bottom of my heart, and for those who have invested in our company and showed their faith in us and for that i thank them all and from now all the investors are our partners and we welcome all of them in Dharmaj. I promise to all of those who have invested their trust and money in Dharmaj, we will not disappoint them and we will always keep their faith and we will take our company to new heights and we will not fall on the hope and in the end i once again thank all the investors and shareholders.”
The Market Capitalization of the Company at today’s closing price stood at Rs. 900.36 Crore as per BSE and Rs. 902.39 Crore as per NSE.
The issue with a face value of Rs 10 per equity share consists of a fresh issue of equity shares worth up to Rs 216 crore and an offer-for-sale (OFS) of up to 1,483,000 equity shares by existing shareholders. The offer also includes a reservation for subscription by eligible employees.
Incorporated in the year 2015, Dharmaj Crop Guard is also engage in the marketing and distribution of agrochemical products under brands in-licensed, owned and through generic brands, to Indian farmers through its distribution network. Besides, it also provides crop protection solutions to the farmer to assist them to maximize their productivity and profitability.
Led by its Chairman and Managing Director, Rameshbhai Ravajibhai Talavia who has over 28 years of experience in the agrochemical industry. The company also exports its products to more than 25 countries across Latin America, East African Countries, Middle East and Far East Asia.
Its key customers include Atul Limited, Heranba Industries Limited, Innovative Agritech Private Limited, Meghmani Industries Limited, Bharat Rasayan Limited, Oasis Limited, United Insecticides Private Limited and Sadik Agrochemicals Co. Ltd.
DCGLs revenue from operations grew 30.36% to Rs. 394.21 crore for the fiscal 2022 against Rs. 302.41 crore for the fiscal 2021, primarily due to increase in sales of its branded products, institutional sales and addition of more dealers and customers, while its net profits grew 36.88% from Rs. 20.96 crore in FY21 to Rs. 28.69 crore in FY22.
Elara Capital (India) Private Limited and Monarch Networth Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the Issue.ends GNI SG
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