| Particulars | Q1 FY26 | Q1 FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | 984.8 | 785.1 | +25% |
| COGS | 635.6 | 556.2 | |
| Gross Profit | 349.2 | 228.9 | +53% |
| EBITDA | 142.2 | 85.4 | +67% |
| Profit After Tax (PAT) | 142.8 | 27.3 | +424% |
Financial Performance
The company's revenue growth was primarily driven by a significant increase in volumes, with Europe contributing substantially. Agrochemical volumes grew by 11.4%, while non-agrochemical volumes saw a growth of 58.5%.
Gross margins improved by 630 basis points to 35.5%. The company expects these margins to remain at similar levels throughout FY26. EBITDA for the quarter increased by 67% to ₹142 crore, with EBITDA margins at 14.4%.
Segment-wise Highlights
The agrochemical segment contributed 86% to the total revenue, amounting to ₹846 crore in Q1 FY26, a 25% increase from ₹679 crore in Q1 FY25. The non-agrochemical segment accounted for the remaining 14%, with revenues of ₹139 crore, up 31% from ₹106 crore in the same period last year.
Product-wise Highlights (Agrochemical Segment)
Herbicides: Revenue increased by 32% to ₹420 crore in Q1 FY26 from ₹319 crore in Q1 FY25.
Insecticides: Revenue increased by 34% to ₹207 crore in Q1 FY26 from ₹153 crore in Q1 FY25.
Fungicides: Revenue increased by 7% to ₹222 crore in Q1 FY26 from ₹205 crore in Q1 FY25.
Region-wise Breakup (Agrochemical Segment)
Europe: Revenue increased by 43% to ₹523 crore in Q1 FY26 from ₹364 crore in Q1 FY25.
NAFTA Region: Revenue increased by 3% to ₹256 crore in Q1 FY26 from ₹249 crore in Q1 FY25.
LATAM Region: Revenue increased by 18% to ₹47 crore in Q1 FY26 from ₹40 crore in Q1 FY25.
RoW: Revenue decreased by 20% to ₹21 crore in Q1 FY26 from ₹26 crore in Q1 FY25.
Region-wise Breakup (Non - Agrochemical Segment)
Europe: Revenue increased by 33% to ₹22 crore in Q1 FY26 from ₹16 crore in Q1 FY25.
NAFTA Region: Revenue increased by 36% to ₹93 crore in Q1 FY26 from ₹68 crore in Q1 FY25.
LATAM Region: Revenue remained constant at ₹12 crore in Q1 FY26 and Q1 FY25.
RoW: Revenue increased by 29% to ₹12 crore in Q1 FY26 from ₹9 crore in Q1 FY25.
Balance Sheet
The company's balance sheet remains strong, with total equity of ₹2,649 crore as of June 30, 2025, compared to ₹2,501 crore as of March 31, 2025. Cash, bank, and liquid investments stood at ₹791 crore as of June 30, 2025, compared to ₹558 crore as of March 31, 2025.
Working capital days have been reduced by 18 days, from 118 days in March 2025 to 100 days in June 2025.
Company Initiatives
Sharda Cropchem is focused on forward integration by building its sales force and adopting a factory-to-farmer approach. The company continues to invest in product registrations and expand its distribution presence.
