Dhanuka to invest Rs. 50cr on new plant; eyes Rs. 750cr revenue.

Pesticides maker Dhanuka Agritech will invest Rs. 50 crore on a new manufacturing plant in Rajasthan and is expecting at least 25 per cent growth in revenue to about Rs. 750 crore this fiscal on better monsoon.

It has 3 units in Haryana, Gujarat and Jammu & Kashmir to produce over 80 plant protection chemicals. The Gurgaon-based firm had posted net profit of Rs. 64.44 crore and a turnover of Rs. 582.3 crore in 2012-13 fiscal.

'We are setting up our fourth plant at Keshwana, Rajasthan with an investment of Rs. 50 crore. Construction has started and the first phase is expected to start from December 2014,' Dhanuka Agritech Managing Director M K Dhankua said.

The investment would be funded through internal accruals, he said, adding that the company is debt-free.

Dhanuka has 37 acres in Dahej, Gujarat, for expansion but a decision on that will be taken after 2-3 years.

ET