=4 Dhanuka Agritech Limited AN ISO 9001 : 2015 COMPANY

Online

Date: 22°d July, 2020

Listing Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G. Block, Bandra- Kurla Complex, Bandra East, Mumbai-400 051

Symbol- DHANUKA

The Department of Corporate Services­ Listing The Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 Scrip Code: 507717

Sub: Investors Presentation on Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended 30th June, 2020

Dear Sir,

Pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached above stated Investors Presentation on Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended 30th June, 2020.

We hope you will find the same in order.

Thanking You, Yours faithfully,

Encl: a/a

Corporate Office : 14th Floor, Building SA, Cyber City, DLF Phase-Ill, Gurugrarn-122002, Haryana, (India), Board : +91-124- 3838 500/501, E-mail : headoffice@dhanuka.com, Website : www.dhanuka.com

Registered Office: 82, Abhinash Mansion Joshi Road, Karol Bagh, New Delhi-110005, Ph. :+91 11 23534551, 23534557 CIN:L24219DL1985PLC020126

Dhanuka Agritech Limited (DAL)(BSE: 507717; NSE: DHANUKA)

Q1 FY2021

Earnings Presentation

July 22, 2020

2

Content Page No.

Performance Highlights 3 – 7

Company Overview 8 – 11

Financial Overview 12 – 13

Table of Content

3

2,190

3,73834.1%

34.3%

34.0%

34.0%

34.1%

34.1%

34.2%

34.2%

34.3%

34.3%

Q1 FY 20 Q1 FY 21

Revenue from Operations and Gross Margin

200

6539.1%

17.5%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

Q1 FY 20 Q1 FY 21

EBITDA and EBITDA Margin

148

5186.8%

13.9%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

Q1 FY 20 Q1 FY 21

PAT and PAT Margin

Q1 FY2021 Result Highlights

All Figures in Rs Mn

Q1 FY2021 vs Q1 FY2020

Performance Discussion

227%

250%

71%

• Revenue from Operations: Revenue grew by 70.7% Y-o-Y driven by strong

sales momentum across product segments. Fungicides increased by 51.0%,

Herbicides increased by 59.7% and Insecticides recorded a robust growth of

69.0% Y-o-Y. Total volumes grew by 72.7% Y-o-Y

• EBITDA: Higher operating leverage resulted in EBITDA margin expansion by

~ 830 bps as compared to Q1 FY2020

• PAT: Net Profit margins improved from 6.8% in Q1 FY2020 to 13.9% in Q1

FY2021

4

“The first quarter has shown an excellent upward trend in market demand as compared to the

corresponding quarter of the previous year. The company’s growth in sales and profits may be attributed

to robust cash sales, timely and even distribution of rainfall. The company’s sales picked up very well from

the first week of April and the traction continued throughout the quarter with the start of monsoon.

During the quarter, we have launched two herbicides Dabooch and Dozo Maxx and the initial response

has been very encouraging. We would continue to increase our outreach to more farmers through our wide

distribution channel.

Our expectations for the coming quarter are high considering good monsoon and significant sales traction

expected from our comprehensive product portfolio backed by several marketing and branding initiatives.

The company is extremely dedicated towards social and economic development of Indian farmers. We

regularly organize various Seminars/Krishak Goshti(s)/Sammelan to educate our farmers about new

innovative techniques of farming. We are trying to reach farmers at remote locations and educate them on

ways of doubling their production and income.

During the COVID-19 pandemic, our team was the first to organize seminar/webinar over the internet

and received an overwhelming response from the farming community. We will continue to introduce

superior products to meet the farmer demand and expectations.”

Managing Director’s Message

Mr. Mahendra K Dhanuka

Managing Director

5

Particulars (Rs. million) Q1 FY2021 Q1 FY2020 YoY%

Revenue from Operations 3,738 2,190 70.7%

COGS 2,457 1,443 70.2%

Gross Profit 1,281 746 71.7%

Gross Profit Margin (as a % of sales) 34.3% 34.1%

Employee Benefit Expenses 314 236 33.2%

Other expenses 315 311 1.2%

EBITDA 652.8 199.7 226.9%

EBITDA Margin (as a % of sales) 17.5% 9.1%

Depreciation and amortisation expenses 32 27 17.5%

EBIT 621 173 259.5%

EBIT Margin (as a % of sales) 16.6% 7.9%

Finance Cost 3 2 30.1%

Other Income 74 38 95.4%

PBT 692 208 232.1%

Total Tax 174 60 188.1%

PAT 517.9 147.9 250.1%

PAT Margin (as a % of sales) 13.9% 6.8%

Basic EPS 10.89 3.11 250.2%

Q1 FY2021 Income Statement

6

31% 31%

12% 11%

50% 46%

8% 12%

Q1 FY 20 Q1 FY 21

Insectisides Fungicides Herbicides Others

31% 31%

13% 17%

10%10%

46% 42%

Q1 FY 20 Q1 FY 21

North South East West

Q1 FY2021 Revenue Mix (By Geography and Segment)

Rs. 2,190 mn

• Well diversified portfolio across business segment and key geographies

All Figures in Rs mn

Rs. 2,190 mn Rs. 3,738 mn Rs. 3,738 mn

7

Innovation Turnover Index

11%

13%

20%

17%

20%

17%

12%

7%

FY14 FY15 FY16 FY17 FY18 FY19 FY20 Q1 FY21

New Molecules as a % of Total Revenue

8

Why Dhanuka Agritech?

Unique Asset Light Model

Minimal investments required in fixed assets.

Aim is to leverage strong formulation

capabilities by partnering with global

innovators

Robust Pipeline

Focus on margin accretive 9(3) portfolio.

Target to launch 10 new products across all

segments over the next two years

Rural FMCG Play

40 warehouses, 7,000+ distributors and

80,000+ retailers to service the needs of

over 10 million touchpoints across farmers

Profitable Growth

Higher contribution of margin accretive

products, growth in volumes from existing

products to drive return ratios

Global Innovator Tie Ups

World’s leading agrochemical companies

from the US, Japan and Europe have

partnered with Dhanuka Agritech to

introduce latest technology to Indian

farmlands

Diverse Product Portfolio

300+ registrations across Herbicides,

Insecticides, Fungicides and Plant Growth

Regulators, ~90 Products across all

segments

00 o�o 00

-�-

�

�

9

Product Segments

Herbicides Fungicides Insecticides Plant Growth Regulators

Total number of Products 25 16 38 9

% of Revenues (Q1 FY2021) 46% 11% 31% 12%

Key Products

Barrier Craze, D-Era,

Dhanutop, Fuzi Super, Maxx-

soy, Nabood, Noweed,

Oxykill, Ozone, Qurin,

Sakura, Sempra, Targa Super,

Weedmar, Dumil 10% SL,

Fenox 1000, Dhanutop Super

Cursor, Dhanteam, Dhanuka

M-45, Dhanustin,

Hexadhan,Conika, Kasu-B,

Godiwa, Vitavax Power,

Lustre, Protocol, Sheathmar,

Sixer, Zerox, Godiwa,

GodiwaSuper, Spectrum

Aaatank, Adfyre, Apple,

Areva, Bombard, Caldan,

Cover, Danfuron, Dhanpreet,

Em-1, Fax, Foster, Markar,

Media, Mortar, Omite, Pager,

Super-D, Superkiller, D-one,

Markar Super, Domar

Dhanvarsha, Dhanuvit,

Dhanzyme Gold, Maxyld,

Wetcit, Suelo

10

Top 10 Brands contribute 39% of Q1 FY2021 Total Revenue

Herbicides Insecticides Plant Growth Regulator

•

s �

11

New Products Launched This Quarter

• Two new products launched online during lockdown

• Dabooch (Soybean & Groundnut Herbicide)

• Dozo Maxx (Herbicide for Cotton, Broad and Narrow Leaf crops)

s: �

Herbicide ABOOCH

12

1,061 1,0731,219 1,262

1,1261,415

13.5%12.9%

12.2%12.9%

11.2%

12.6%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

1,317 1,3981,699 1,661

1,4601,735

16.8% 16.9% 17.0% 17.0%

14.5%15.5%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

7,851 8,28810,008 9,762 10,058

11,201

37.3% 39.0%

50.2%

42.4%38.7%

36.5%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

Revenue from Operations and Gross Margin EBITDA and EBITDA Margin

PAT and PAT Margin

Annual P&L Trend: Focus on Profitable Growth

All Figures in Rs Mn

13

31.7%29.5% 30.5%

26.0%

20.5%22.8%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

83%

100%

37%

83%

9%

93%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

FY2020 Balance Sheet and Return Ratios

Figures in Rs mn Mar-19 Sep-19 Mar-20

Short Term Debt 222 70 80

Long Term Debt 0 0 0

Total Debt 222 70 80

Cash & Cash Equivalent 13 22 263

Net debt/ (Net Cash) 208 48 (183)

Equity 6,422 7,133 7,077

Total Debt/Equity 0.03x 0.01x 0.01x

CFO/EBITDA (%)

ROE (%) ROCE (%)

Robust return ratios and cash flow generation across business cycles

28.8%

24.2% 24.3%21.8%

17.7%21.0%

FY 15 FY 16 FY 17 FY 18 FY 19 FY 20

Calculation Methodology: ROE = PAT/ (Average Total Equity), ROCE = EBIT/ (Average Capital Employed), Capital Employed = Total Equity + Short Term Borrowings + Long Term Borrowings

14

This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to theimplementation of strategic initiatives, and other statements relating to Dhanuka Agritech Limited (“Dhanuka Agritech” or the Company) futurebusiness developments and economic performance.

While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number ofrisks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currencyexchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us,legislative developments, and other key factors that could affect our business and financial performance.

Dhanuka Agritech undertakes no obligation to publicly revise any forward looking statements to reflect future / likely events or circumstances.

For further information, please contact:

Jitin Sadana

Company Secretary

Dhanuka Agritech Limited

+91 124 3838 500

jitinsadana@dhanuka.com

Rohan Rege / Himanshu Patel

Churchgate Partners

+91 22 6169 5988

DhanukaAgritech@churchgatepartners.com

Disclaimer

Dhanuka Agritech Limited(CIN: L24219DL1985PLC020126)

14th Floor, Building 5A

DLF Cyber Terrace, Cyber City

DLF Phase III

Gurgaon- 122002 (Haryana)