Sharda Cropchem Q4 Review - Revenues Driven By Strong Volume Growth: Dolat Capital

A farm worker sprays cotton plants with pesticides on the farm of Jarnail Singh in Jajjal village, Punjab, India. (Photographer: Prashanth Vishwanathan/Bloomberg).

Sharda Cropchem Q4 Review - Revenues Driven By Strong Volume Growth: Dolat Capital

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Dolat Capital Report

Sharda Cropchem Ltd. consolidated revenues for Q4 FY21 grew by 24.2% YoY to Rs 10.88 billion driven by strong volume growth of 36%, forex gain of 5% while there was an adverse price-product mix impact of 17%.

Gross margins in Q4 FY21 contracted by 495 basis points YoY to 31.3% as Q4 FY20 was an exceptional quarter that delivered a record high gross margin of 36.3%.

Ebitda grew handsomely by 24.8 YoY to Rs 2.03 billion (our estimate: Rs 1.76 billion) on the back of lower other expenses which were down by 12.2% YoY.

Click on the attachment to read the full report:

Dolat Capital Sharda Crop Q4FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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