Sumitomo Chemical Q3 Review - Prolonged Monsoon, High Trade Inventory Impact Primary Sales: ICICI Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Sumitomo Chemical India Ltd.’s Q3 FY23 was impacted by multiple one-offs such as- prolonged monsoon delayed sowing in Rabi season,higher inventory in trade from Kharif season impacted primary sales in Q3 FY23 andthere were lower sales of fungicides due to shift of agri cycle. However, we believe these issues are likely to reverse in next one-two quarters and model company to report revenue compound annual growth rate of 10.4% over FY23-25. We also note the exports to parent are likely to commence in next 12 months and it could be a structural re-rating driver for Sumitomo India. The company continued to introduce differentiated products with nine new product launches in nine months-FY23. New launches are likely to set off revenue loss (if any) due to restrictions on usage of Glyphosate, key product for Sumitomo..Click on the attachment to read the full report:.UPL Q3 Results Review - Higher Realisation Continues To Drive Growth: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Sumitomo Chemical Q3 Review - Prolonged Monsoon, High Trade Inventory Impact Primary Sales: ICICI Securities

Higher inventory in trade from Kharif season impacted primary sales in Q3 FY23.

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