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HomeNewsBusinessStocksBuy Sumitomo Chemicals; target of Rs 525: ICICI Direct

Buy Sumitomo Chemicals; target of Rs 525: ICICI Direct

ICICI Direct is bullish on Sumitomo Chemicals recommended buy rating on the stock with a target price of Rs 525 in its research report dated February 06, 2023.

February 10, 2023 / 21:41 IST
 
 
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ICICI Direct's research report on Sumitomo Chemicals

Incorporated in 2000, Sumitomo Chemical India (SCI) is present in the three business verticals of agro solutions (ASD), environmental health (EHD) and animal nutrition business (AND). SCI provides solutions for insecticide, herbicide, fungicide, plant growth regulator (PGR) under agro segment. Under animal nutrition, it manufactures methionine for feed additive use • In terms of revenue contribution, insecticide constitutes ~51% while ~19% is from herbicide, 9% from fungicide and 20% from other segments like PGR, AND & EHD.

Outlook

We value Sumitomo Chemicals at 38x FY25E EPS of Rs 13.8 to arrive at a target price of Rs 525/share (earlier Rs 570/share).

For all recommendations report, click here

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Sumitomo Chemicals - 08 -02 - 2023 - ic

Broker Research
first published: Feb 10, 2023 09:41 pm

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