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Last Updated : Sep 18, 2018 04:49 PM IST | Source:

Accumulate Sharda Cropchem; target of Rs 410: Dolat Capital

Dolat Capital recommended accumulate rating on Sharda Cropchem with a target price of Rs 410 in its research report dated August 01, 2018.

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Dolat Capital's research report on Sharda Cropchem

Revenues grew by 34% largely led by price/product mix effect of 20.8%, positive currency effect of 9.1% and 4.1% volume growth. However, the gross margins continue to be in pressure owing to China supply side constraints. The double whammy of high interest cost dented net earnings.


We have revised our target price downwards to ` 410(Earlier ` 488), valuing at a lower multiple of 14x (earlier 16x) FY20E EPS. The stock is currently available at 16.3x and 12.4x FY19E and FY20E EPS. Maintain ‘Accumulate’.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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First Published on Aug 6, 2018 06:20 pm
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