Hot Pursuit     27-Oct-17
Sharda Cropchem drops after weak Q2 outcome
Sharda Cropchem lost 3.35% to Rs 428.85 at 11:53 IST on BSE after consolidated net profit fell 26.46% to Rs 24.40 crore on 10.68% growth in total income to Rs 279.61 crore in Q2 September 2017 over Q2 September 2016.
The result was announced after market hours yesterday, 26 October 2017.

Meanwhile, the S&P BSE Sensex was up 70.77 points or 0.21% at 33,217.90. The S&P BSE Mid-Cap index was up 91.54 points or 0.56% at 16,425.90.

On the BSE, 3,640 shares were traded on the counter so far as against the average daily volumes of 8,862 shares in the past one quarter. The stock had hit a high of Rs 434.85 and a low of Rs 420 so far during the day. The stock had hit a record high of Rs 567.80 on 19 May 2017. The stock had hit a 52-week low of Rs 351 on 9 November 2017.

The stock had underperformed the market over the past one month till 26 October 2017, rising 0.9% compared with 6.38% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 8.53% as against Sensex's 2.59% rise. The scrip had also underperformed the market in past one year, rising 4.87% as against Sensex's 18.74% rise.

The mid-cap company has equity capital of Rs 90.22 crore. Face value per share is Rs 10.

Sharda Cropchem's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) fell 1.7% to Rs 500.80 crore in Q2 September 2017 over Q2 September 2016. EBITDA margin fell to 18% in Q2 September 2017 from 19.3% in Q2 September 2016.

Sharda Cropchem is a global crop protection chemical company largely operating across Europe, NAFTA and Latin America across fungicides, herbicides and insecticides. The company also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals, dyes and dyes intermediates.

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