Sumitomo Chemicals Q4 Review - Crams Offers Strong Visibility Ahead: ICICI Direct
An employee mixes a chemical solution at the research laboratory. (Photographer: Dario Pignatelli/Bloomberg)

Sumitomo Chemicals Q4 Review - Crams Offers Strong Visibility Ahead: 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 Chemicals India Ltd. reported topline growth of 20% YoY to Rs 534.3 crore against our expectation of Rs 500.8 crore.

Revenue from the agrochemical segment was up 19.6% YoY to Rs 478.1 crore while the same from other segment remained at Rs 56.2 crore (up 19.7% YoY).

Since the rabi season was comparatively better this year, we believe better volume growth, along with rise in realisation owing to higher raw material, supported growth for the quarter.

Operating profit margin for the quarter expanded 408 basis points YoY to 13.4% leading to Ebitda growth of 72% YoY to Rs 71.3 crore against our estimate of Rs 67.5 crore.

Click on the attachment to read the full report:

ICICI Direct Sumitomo Chemicals Q4FY21 Result Update.pdf

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