

Nadim Siddiqui
938 posts



























Dharmaj Crop Guard I attended the concall yesterday organised by Arihant Capital. Liked what management said. Company has made Rohit Sharma as brand ambassador. Agrochemicals cycle is slowly turning. Technically also this stock looks low risk and high reward. #Technofunda for me for next 6-7 months. #DharmajCrop







Brandman Retail #Brandman #BrandmanRetail Got listed 12-13 days back Anchor book has interesting names Mukul Agarwal Madhusudhan Kela Bharat Ventures Opportunities Fund India Max Investment Fund Arnesta Global Fund Aurinko Alpha Advantage Fund 49% of anchor portion allocated to Mukul and Kela Fast growing retail and distribution platform for premium international brands in India 19 outlets Distribution rights for 10 brands Last 4 years track record: Revenue FY23 46cr FY24 123cr FY25 135cr 9MFY26 95cr EBITDA with OPM: FY23 1cr with 2% OPM FY24 12cr with 9.7% OPM FY25 31cr with 23 OPM 9MFY26 27cr with 28% OPM PAT: FY23 0.4cr FY24 8cr FY25 21cr 9MFY26 20cr Q3FY26 had a very big growth 9 more stores upcoming Positives: Consistent growth with growing number of outlets More stores coming in next 2 years Great return ratios Negatives/Monitorables: Sudden margin expansion for last 3 years and how sustainable are these margins Revenue growth wasn't v big for FY25, however EBITDA more than doubled Any views/reviews/feedback/analysis on this of anyone is tracking it closely would be helpful Stock had IPO at 176rs, hit 240 after listing and saw a sharp downside to 178 yesterday Almost back to issue price

