Dharmaj Crop Guard IPO - Investment Rationale, Strengths, Key Strategies, Risks, Financials: Anand Rathi

The valuation of the IPO appears to be reasonable when we compare with listed peers.
<div class="paragraphs"><p>A farmer spraying pesticide in an open field. (Source: Company website).</p></div>
A farmer spraying pesticide in an open field. (Source: Company website).

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Anand Rathi's IPO Report

Dharmaj Crop Guard Ltd. are an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical formulations such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilisers and antibiotic to the business-to-consumer and business-to-business customers.

They also engage in the marketing and distribution of agrochemical products under brands in-licensed by them, owned by them and through generic brands, to Indian farmers through their distribution network.

Dharmaj Crop Guard provides crop protection solutions to the farmer to assist them to maximise productivity and profitability. They export their products to more than 25 countries in Latin America, East African Countries, Middle East and Far East Asia.

They sell their agrochemical products in granules, powder and liquid forms to their customers. Additionally, they manufacture and sell general insect and pest control chemicals for public health and animal health protection.

Click on the attachment to read the full IPO report:

Anand Rathi - IPO Note Dharmaj Crop Guard.pdf


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