Transcript of Conference Call held on 30th October 2026 with Analysts/Investors to discuss Un-Audited Standalone and Consolidated Financial Results of the Company for the Quarter and Half Year Ended on 30th September 2026

04th November 2026 Listing Department Corporate Relationship Department National Stock Exchange of India Limited BSE Ltd. Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot No. C/1, G. Block, Dalal Street, Bandra- Kurla Complex, Mumbai- 400 001 Bandra East, Mumbai-400 051 Symbol- DHANUKA Scrip Code : 507717 Sub: Transcript of Conference Call held on 30th October 2026 with Analysts/ Investors to discuss Un-Audited Standalone and Consolidated Financial Results of the Company for the Quarter and Half-Year ended on 30th September, 2026. Dear Sir, In pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, Please find enclosed the Transcript of the Conference Call held on 30th October 2026, which was hosted by Antique Stock Broking Limited via telephonic mode with Analysts/ Investors to discuss Un- Audited Standalone and Consolidated Financial Results of the Company for the Quarter and Half- Year ended on 30th September, 2026. Please take the above information in your record. Thanking You, Yours faithfully, For Dhanuka Agritech Limited Jitin Sadana Company Secretary and Compliance Officer FCS-7612 Encl: a/a Registered & Corporate Office: Global Gateway Towers, Near Guru Dronacharya Metro Station, MG Road, Gurugram-122002, Haryana Tel: +91-124-434-5000, Email: headoffice@dhanuka.com, Website: www.dhanuka.com CIN: L24219HR1985PLC122802 Dhanuka Agritech Limited Q2FY27 Post Results Conference Call October 30, 2026 MANAGEMENT: MR. M.K. DHANUKA – CHAIRMAN – DHANUKA AGRITECH LIMITED MR. RAHUL DHANUKA – MANAGING DIRECTOR – DHANUKA AGRITECH LIMITED MR. HARSH DHANUKA – EXECUTIVE DIRECTOR – DHANUKA AGRITECH LIMITED MR. V.K. BANSAL – CHIEF FINANCIAL OFFICER – DHANUKA AGRITECH LIMITED MODERATOR: MR. MANISH MAHAWAR – ANTIQUE STOCK BROKING Page 1 of 15 Dhanuka Agritech Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Dhanuka Agritech Limited Q2 FY27 Post Results Conference Call hosted by Antique Stock Broking. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Manish Mahawar from Antique Stock Broking. Thank you, and over to you, sir. Manish Mahawar: Thank you, Moderator. I am pleased to host today's earnings call of Dhanuka Agritech. We have leadership team represented by Mr. M.K. Dhanuka, Chairman; Mr. Rahul Dhanuka, Managing Director; Mr. Harsh Dhanuka, Executive Director; and Mr. V.K. Bansal, CFO on the call. Without any delay, I would like to hand over the call to Mr. M.K. Dhanuka for opening remarks. Post which, we will open the floor for Q&A. Thank you, and over to you, Mr. Dhanuka. M.K. Dhanuka: Thank you, Manishji. Good afternoon, ladies and gentlemen. I'm M.K. Dhanuka, Chairman of Dhanuka Agritech Limited, and I welcome you all to the Q2 FY26-'27 Earnings Conference Call. I have with me Mr. Rahul Dhanuka, Managing Director; Mr. Harsh Dhanuka, Executive Director; and Mr. V.K. Bansal, CFO of the company. On behalf of the entire Dhanuka family, I extend my heartfelt greetings to all our stakeholders and hope you have a joyful Diwali, filled with happiness and togetherness. Diwali is not only a festival of lights, but also a celebration of hope, progress and new possibilities. These values connect deeply with our journey as an organization. As we move forward, we remain focused on empowering farmers, driving innovation and creating lasting value for our stakeholders. Together, we look forward to creating new milestones and achieving greater success in the years to come. As you are aware, Dhanuka Agritech is among Indian's leading agro companies with a long-standing commitment towards advancing Indian agriculture through technology-led crop solutions. Over the years, we have built a strong Pan-India presence, business with a deep farmer engagement, a differentiated product portfolio and a robust distribution network. Today, we reach more than 10 million farmers across India through 6,500 distributors and over 80,000 retailers, supported by our manufacturing facilities, and 40-plus warehouses we continue to strengthen our ability to deliver product efficiently across key agricultural market. A key advantage for Dhanuka has been our consistent focus on introducing innovative products in the Indian market. Our partnership with 10 leading multinational agrochemical innovators from Japan, Europe and the United States continue to provide us access to advanced technologies and differentiated solutions for Indian farmers. Our 2 R&D centers supported by NABL-accredited laboratories and a strong regulatory and product development team remain focused on product registration, formulation development and Page 2 of 15 Dhanuka Agritech Limited October 30, 2026 strengthening our future product pipeline. Agrochemical sector in India is experiencing a weak and highly subdued earnings season for the second quarter for FY26-'27 Performance across major players is impacted by erratic and uneven monsoon rainfall and persistently high raw material procurement costs. The monsoon rainfall was lower by a sharp 13% with sigficant regional and monthly variations across key agricultural beds. This has led to compressed volumes and margins across the industry. This weather disturbance significantly disrupted traditional farming cycle, delayed crop care applications and led to a market contraction of consumption at farmer level. Due to the dry weather, performance of our herbicides was significantly impacted while insecticide segment has good growth. Despite all these challenges, I'm pleased to report that our company delivered resilient performance. Our diversified geographic footprint allowed us to capture demand from region which had a availability of water resources. While generic crop production saw severe pricing pressure, our attention to specialized products and reintroduction of biostimulant product range from Q2 protected our gross margin. Unlike the high-cost inventory issues lagging the sector, our proactive raw material sourcing and lean distributor inventory levels ensured zero channel stuffing and healthy cash generation. Looking ahead, we remain subdued in this year for Q3 and Q4. Channel inventories for Dhanuka are optimal. The initial movement for the upcoming Rabi season looks promising in certain regions. The key for the Rabi season will be performance of South and East zones. In terms of financial performance for the second quarter, revenue from operations for Q2 FY26- '27 stood at INR657.51 crores as compared to INR598.24 crores in Q2 FY25-'26, registering a growth of approximately 9.91%. EBITDA was INR152.97 crores as against INR136.73 crores in the corresponding quarter of previous year. Profit after tax stood at INR109.22 crores compared to INR93.97 crores in Q2 FY25-'26, reflecting healthy profitability improvement supported by product mix, operational efficiencies and disciplined cost management. Our balance sheet and cash generation continue to remain strong, providing us the flexibility to invest for future growth. The zone-wise contribution to turnover for Q2 FY26-'27 was North India contributed 31%, East India contributed 12%, West India contributed 28% and South India contributed 29%. From a product category perspective, insecticides contributed 47%. You will notice, as -- I spoken earlier, insecticide segment has done very well and 47% share came from insecticide segment, 25% contribution from fungicide segment and only 8% herbicide contribution was there and 20% others contribution. At Dhanuka, we continue to believe that sustainable business growth must go hand-in-hand with farmer prosperity and national food security [Showing first 8,000 characters — download PDF for full document]