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.
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