Dhanuka Agritech gains on plan to achieve revenue of Rs 500 crore from new unit

Dhanuka Agritech is currently trading at Rs. 277.50, up by 0.55 points or 0.20% from its previous closing of Rs. 276.95 on the BSE. The scrip opened at Rs. 277.00 and has touched a high and low of Rs. 281.50 and Rs. 272.50 respectively. So far 9358 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 286.10 on 19-Mar-2014 and a 52 week low of Rs. 116.15 on 23-Apr-2013. Last one week high and low of the scrip stood at Rs. 282.00 and Rs. 231.00 respectively. The current market cap of the company is Rs. 1388.04 crore. The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 8.41% and 16.60% respectively. Dhanuka Agritech expects new capacities at Rajasthan will add up significantly to its top line and bottom line. The company is also eyeing incremental revenue of Rs 500 crore. The company has planned to set up a manufacturing unit in Keshwana village of Rajasthan with an investment of Rs 50 crore. The company will finance this expansion via internal accruals. The overall pesticide production capacity of the company in liquid and powder form will go up to 10,000 kilo litre and 10,000 tonnes, respectively post this expansion. Dhanuka Agritech is the umbrella company for the business of agro-chemicals, fertilizers, and seeds of Dhanuka Group. The company reaches out to more than 10 million farmers with its eco-friendly high quality crop care products. The Agri-Division has a pan-India presence through its marketing offices in all major states in India.