Sumitomo Chemicals India Q3 PAT up manifold at Rs54.15cr but sharply lower on sequential basis

Date:02-12-2021

Sumitomo Chemicals reported revenue growth of 7.22 for the Dec-20 quarter on consolidated yoy basis at Rs560.91cr. The yoy growth in the agrochemicals segment was visible although the agrochemicals business took a bit hit if compared on a sequential basis. It may be noted that one of its plants in Gujarat which belongs to Excel Crop Care had to be shut down due to the order of the Gujarat Pollution Board.

The consolidated Profit after tax (PAT) for the Dec-20 quarter was up multi-fold at Rs54.15cr on account of exceptional losses in the Dec-19 quarter. The business of the company is seasonal and varies with the vagaries of the monsoon and cropping cycles. On a yoy basis, the PAT margins improved sharply from 0.13% in Dec-19 to 9.65% in Dec-20. However, on a sequential basis, the margins almost halved.

Financial highlights for Dec-20 compared yoy and sequentially