Sharda Crop Chem up 34% in third quarter

Date:03-10-2017

Revenues of Sharda Crop Chem grew by 33.7% to Rs. 2,429.3 mn in Q3 FY17 primarily driven by volume growth of 30.8%, compared to Q3 FY16. The increased revenue for agrochemical sales in NAFTA region aided us in achieving higher volume growth.

Gross profit increased by 37.7% to Rs. 849.1 mn in Q3 FY17 and gross margin expanded by 103 basis points from 33.9% to 35.0% primarily driven by higher share of agrochemicals formulation and better performance of NAFTA region compared to Q3 FY16.

EBITDA increased by 42.3% to Rs. 355 mn in Q3 FY17 and EBITDA margin increased by 89 bps from 13.8% to 14.6%.

Net profit increased by 47.3% to Rs. 175.7 mn in Q3 FY17 and net profit margin increased from 6.6% to 7.2%.

"Sharda will continue to grow business by consistently investing in new registrations and expanding into new geographies and new market segments. " A manager from Sharda said.