Sharda Cropchem Q1 Review - Capitalising On The Surge In Global Agro Chemical Demand: Prabhudas Lilladher
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
Sharda Cropchem Ltd.’s results were significantly higher than our estimates driven by significant increase in demand for agrochemicals, amid supply related challenges globally.
Agrochemical segment topline grew 74% to Rs 5.3 billion (our estimate Rs 3.6 billion), due to higher than anticipated demand from Europe, North American Free Trade Agreement and Latin Amercia.
Sharda Cropchem's segmental Ebit margins expanded 447 basis points due to operating leverage benefits.
Growth momentum is expected to continue driven by expanding distribution reach and garnering of new registrations amid strong global demand for generic molecules.
We have increased our topline/ Ebitda/ adjusted profit after estimates by 6%/6%/9% for FY22 and 6%/6%/5% for FY23.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.