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Sharda Cropchem: Likely to outperform in the agrochemical space

Healthy product registration pipeline provides medium-term growth visibility while increasing focus on biocides would be a key trigger to watch.

September 20, 2021 / 01:50 PM IST
Sharda Cropchem: Likely to outperform in the agrochemical space

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

While domestic market-focused agrochemical firms are dealing with the repercussions of an erratic monsoon, Sharda Cropchem (SCC) (CMP: Rs 328, M Cap: Rs 2,957 crore) comes as an interesting play in the global space. Among the key drivers for the company is the disproportionate focus on the high-margin European business. The company gets more than 50 per cent revenue from Europe and 2/3rd of the product registrations pipeline are from the same region. Another trigger to watch out for is the...

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