Sumitomo Chemicals Q4 Review - Crams Offers Strong Visibility Ahead: ICICI Direct
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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.
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