Anand Rathi's research report on Sharda Cropchem
A gradual price increase, volume growth across regions and a good product mix drove Sharda Cropchem’s better-than-expected Q3 results. Growth would improve ahead as de-stocking is now complete. Prices have bottomed out and volumes would improve as the company expands its reach by penetrating current markets and entering new ones. We expect revenue/EBITDA/PAT to clock 14%/21%/23% CAGRs over FY25-27.
Outlook
Due to the recent correction in stock price, we upgrade to a Buy rating, with an unchanged TP of Rs730, 15x FY27e EPS.
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