Of the agrochemical stocks, we find PI Industries and Insecticides India on track for growth and would recommend to keep these on radar and accumulate for long term portfolio in a staggered manner.
Net Sales are expected to increase by 18.4 percent Y-o-Y (up 24.4 percent Q-o-Q) to Rs. 385.4 crore, according to Prabhudas Lilladher.
With closing down of factories in China, the supply has been impacted and this has led to a surge in raw material costs.
While Coromandel International was able to expand operating margin by almost 120 bps on the back of price hikes, the same for Sharda Cropchem contracted 270 bps due to supply disruptions from China for yet another quarter.
Brokerages expect a positive FY19 for agrochemical sector on the back of government's intent to double farm incomes and a normal monsoon
Sharda Cropchem reported weak numbers for Q2 with the margins down to 16.1 percent. In an interview to CNBC-TV18, RV Bubna, CMD of Sharda Cropchem discussed more on the company's performance.
Sharda Cropchem posted a subdued set of earnings in Q1 as margins continue to remain volatile with a 400 bps fall this quarter.
In an interview with CNBC-TV18, RV Bubna, CMD of Sharda Cropchem said that the cmpany is comfortable with the current level of growth in margins and expects to see growth in its European business.
Sharda Cropchem Chairman and Managing Director tells CNBC-TV18 that EU contributed over 55% of sales.
RV Bubna, CMD, Sharda CropChem says this fall was on the back of controlled sales in Latin America, Mexico, Cananda and South Africa due to excessive currency devaluation.
In an interview with CNBC-TV18's Reema Tendulkar, RV Bubna, Chairman and Managing Director, Sharda Cropchem, discussed his company's fourth quarter earnings.