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Sharda Cropchem: One of the most inexpensive plays on global agro-chem market

Sharda Cropchem has a healthy line-up of new registrations, and the higher registration in high-margin geographies is a positive for margins in the longer run

January 28, 2021 / 09:34 AM IST
Sharda Cropchem: One of the most inexpensive plays on global agro-chem market

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

Highlights - Healthy performance across geographies - Topline helped by spurt in volumes - Healthy set of product registrations to act as barriers to entry - Improving product mix to aid long term margins Sharda Cropchem (SCC) (CMP: Rs 275, Mcap: Rs 2,481 crore) reported a noticeable performance in Q3 FY21, driven by a decent mix of volumes and pricing. The quarter gone by was marked by a decent capture of seasonal demand ahead of competitors and opportunistic procurement from China when prices were low. Over the long run,...

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