ICICI Direct: Sumitomo Chemicals - Crams Opportunities Likely To Expand Ahead
A farm worker sprays cotton plants with pesticides on the farm of Jarnail Singh in Jajjal village, Punjab, India (Photographer Prashanth Vishwanathan/Bloomberg)

ICICI Direct: Sumitomo Chemicals - Crams Opportunities Likely To Expand Ahead

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Sumitomo Chemical India Ltd. reported topline growth of 8.7% YoY to Rs 902 crore versus our expectation of Rs 875 crore.

The topline performance was led by higher growth from crop protection segment, which was at Rs 868 crore (up 9% YoY) while revenues from other segment fell 4.8% YoY to Rs 33.8 crore.

Revenue from crop protection was led by better performance from herbicide (up 18% YoY) along with decent performance from plant growth regulators (up 13% YoY) and fungicides (up 8% YoY).

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ICICI Direct Sumitomo Chemicals Q2FY21.pdf

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