Dhanuka Agritech announced that ICRA has reaffirmed and removed from watch with negative implications the company's credit rating in respect of fund based working capital facilities and non-fund based - LC/BG respectively as follows:

Fund based working capital facilities (Rs 30 crore) - ICRA AA-; Positive
Non-fund based LC/BG (Rs 33.35 crore) - ICRA A1+

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In July, the board approved buyback of upto 10 lakh equity shares at a final buyback price of Rs 1,000 each for an aggregate amount not exceeding Rs 100 crore.

Dhanuka Agritech manufactures insecticides, pesticides and other chemicals. The company has technical tie-ups with 4 American and 6 Japanese companies.

The company's consolidated net profit surged 252.80% to Rs 51.79 crore on 70.7% jump in net sales to Rs 373.85 crore in Q1 June 2020 over Q1 June 2019.

In the past six months, the stock has surged 157.38% while the benchmark S&P BSE Sensex has added 28.10% during the same period.

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Dhanuka Agritech has fixed 28 September 2020 as record date for buyback of shares.

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The Buyback Committee of Board of Dhanuka Agritech at its meeting held on 16 September 2020 has approved the following -

Buy Back of not exceeding 10,00,000 Equity Shares at a final Buy Back price of Rs 1,000 per Equity Share payable in cash for an aggregate amount not exceeding Rs 100 crore, excluding any expenses incurred or to be incurred for the Buy Back.

Fixed 28 September 2020 as the Record Date for the purpose of determining the entitlement and the names of Equity Shareholders who are eligible to participate in the Buy Back.

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