Dear Sir/Madam,
Dhanuka Agritech posted its Q3 FY13 result on 13th Feb’13. The top-line witnessed 27% growth on y-o-y mainly due to higher volume of herbicide sales. On the other hand volatility of raw material cost couple with currency depreciation and higher inventory of fungicide plummet its gross margin by 1515 basis points on y-o-y basis. The glimpse of the result is as follows:
We have positive view about the stock.
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020