Q1 Results: Sharda Cropchem Expects 20% Revenue Growth This Year
Agro-chemicals maker Sharda Cropchem Ltd. expects its revenue to grow between 15 percent and 20 percent in the ongoing financial year.
While the second and third quarters are seasonally weak, a 34 percent increase in revenue during the April-June period should lead to up to 20 percent growth on average, Chairman and Managing Director RV Bubna told BloombergQuint.
He expects the operating margin to improve in the coming quarters.
(First Quarter, Year-On-Year)
- Revenue rose 34 percent to Rs 457 crore.
- Net profit was down 21 percent to Rs 34 crore.
- Earnings before interest, tax, depreciation and amortisation increased 14.5 percent to Rs 71 crore.
- Margin stood at 15.5 percent compared with 18.2 percent.
Shares of Sharda Cropchem snapped their three-day gains, falling as much as 7.5 percent—the most in over seven months.