Sharda Cropchem, which had closed on Friday at Rs.379.25, opened much higher today at Rs.417.85 and went on to hit a new 52-week high at Rs.454.70, just a tad away from its 20% UC of the day at Rs.455.10.
This agrochem company, zoomed up to a new high after it posted a robust set for numbers for Q3Fy22 with consolidated net profit jumping to Rs.102 core from Rs.48 crore (YoY). This was on a 78% rise in revenue at Rs.880 crore. This topline growth was led by strong volume growth across geographies & better product mix & price realization.
EBITDA for the quarter was up 97% at Rs.102 crore while margins expanded by 220 bps YoY to 22.8% in Q3 FY22 driven by economies of scale , effective cost management marginally off set by higher freight cost.
NAFTA , Europe & LATAM continues to be the growth engine for the Company. Agrochemicals revenues during Q3 FY22 grew by 80%, non-Agrochemicals by 71% and in terms of revenue mix, Non-Agrochemicals mix stood at 82:18 in Q3 FY22 as against 81:19 in Q3 FY21.
The company’s board declared an interim dividend of Rs 3 per equity share for the financial year 2021-22, with record date on February .