About Dharmaj Crop Guard Limited

Dharmaj Crop Guard Limited is an Ahmedabad-headquartered agrochemicals company founded in 2015. It manufactures and markets a wide range of crop protection formulations and active ingredients, including insecticides, fungicides, herbicides, plant growth regulators and micro-fertilisers; the company also supplies general insect and pest control chemicals for public and animal health segments. Its operations are organised across three verticals—Branded Formulations (B2C), Institutional Formulations (B2B) and Active Ingredients (B2B).

Dharmaj operates two manufacturing facilities: a formulations plant at Kerala GIDC, Ahmedabad with 25,500 TPA capacity, and a multi‑purpose active ingredients and intermediates facility at Sayakha GIDC, Bharuch with 8,000 TPA capacity; both are supported by an NABL‑accredited QC lab and dedicated R&D centres, including a DSIR‑approved R&D facility at Sayakha. The company’s pan‑India distribution spans 24 states with over 17,000 retail touchpoints, 5,250+ dealers and distributors, and 20 stock depots, reaching 11.5+ lakh farmers; it also serves 800+ institutional customers and exports to 38 countries across Latin America, East Africa, the Middle East and Far East Asia.

The portfolio is supported by 590 total product registrations, with 103 registrations for export markets and 168 more in the pipeline; 24 technical registrations are in place with 32 under registration. The company has 1 subsidiary; the wholly-owned unit was incorporated on January 29, 2025.

Key milestones of Dharmaj Crop Guard Limited

Key milestones include commissioning the formulations facility in 2016, doubling formulations capacity to 25,500 MT in 2021, launching a Public Health vertical in 2021, completing an IPO in December 2022, commissioning the state‑of‑the‑art Active Ingredients facility at Sayakha in 2024, and expanding Branded Formulations into four southern states in 2024.

Dharmaj Crop Guard Limited Business Segments

• Institutional Formulations: 59% revenue contribution in FY25; within this, 53% was domestic institutional formulations and 6% was exports institutional (note: export institutional from FY25 also includes Active Ingredients exports).
• Branded Formulations: 20% revenue contribution in FY25.

Dharmaj Crop Guard Limited Key Management

• Rameshbhai R. Talavia, Chairman & Managing Director
• Jamankumar H. Talavia, Whole Time Director
• Jagdishbhai R. Savaliya, Whole Time Director
• Vishal Domadia, Chief Executive Officer
• Vikas Agarwal, Chief Financial Officer
• Malvika B. Kapasi, Company Secretary & Compliance Officer

Latest Updates on Dharmaj Crop Guard Limited

• Active Ingredients manufacturing: The greenfield Sayakha facility for technicals and intermediates was commissioned on January 22, 2024; FY25 marked its first full year of operations, strengthening Dharmaj’s backward integration and integrated model.
• Market expansion: The Branded Formulations business entered Odisha, Andhra Pradesh, Karnataka and Telangana in 2024, widening the company’s footprint in southern India.
• Product launches: The company introduced 13 new branded products in FY25, part of 92 launches over six years, reflecting continued portfolio refresh and farmer-centric innovation.
• Distribution digitisation: Dharmaj deployed a dealer–distributor mobile application integrated with its ERP to enable digital ordering, payments, billing and analytics across the network.
• Credit rating: On May 13, 2025, CRISIL reaffirmed ratings at CRISIL BBB+/Stable (long-term) and CRISIL A2 (short-term) for bank loan facilities, with the sanctioned limit enhanced to Rs 237.85 crore.
• Subsidiary incorporation: A wholly-owned subsidiary was incorporated on January 29, 2025; as of the year-end, the company had 1 subsidiary and no associates or joint ventures.
• Exports traction: The company reported commencement of active supplies to Chinese markets as part of efforts to revive export growth, alongside ongoing applications for new export product registrations.
• Capacity and capabilities: Dharmaj highlighted its 25,500 TPA formulations capacity and 8,000 TPA active ingredients capacity, supported by NABL‑certified QC and DSIR‑approved R&D, aimed at cost leadership and quality control across the value chain.