Sumitomo Chemicals Q3 Review - Higher Speciality Share To Aid Margins Further: ICICI Direct
A tractor spreads fertilizer onto a field of wheat. (Photographer: Chris Ratcliffe/Bloomberg)

Sumitomo Chemicals Q3 Review - Higher Speciality Share To Aid Margins Further: ICICI Direct

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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 7.2% YoY to Rs 561 crore largely led by herbicide (up 21% YoY), PGR (up 57% YoY), animal nutrition and environmental health segments (up 41% YoY).

On the other hand, revenue from insecticide (down 4.3% YoY, approximately 39% of revenue) and metal phosphides (down 4% YoY, ~10% of revenue) stayed subdued, denting the topline performance to that extent.

Operating profit margin for the quarter expanded 514 basis points YoY to 13.9% owing to improvement in gross margins due to a change in the product mix, leading to Ebitda growth of 70% YoY to Rs 78 crore.

Click on the attachment to read the full report:

ICICI Direct Sumitomo Chemicals Q3FY21 Result Update.pdf

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