Q2FY19 Results: Sharda Cropchem revenue up 17.3 per cent

Sharda Cropchem Limited reported results for the quarter ended September 30, 2018. The company's consolidated revenue for the quarter came in at Rs. 327.96 crore as against Rs. 279.60 crore for the same period last year, registering 17.3 per cent yoy increase. This was primarily driven by volume growth in the US market fueled by higher demand for insecticides.

The company's EBITDA for the quarter rose by 2.7 per cent yoy to Rs. 52.93 crore from Rs. 51.52 crore during the same period last year, with a corresponding margin contraction of 229 bps. EBITDA margin for the quarter stood at 16.1 per cent. This margin contraction was caused by higher depreciation and raw material costs for the quarter.

Net profit for the Q2FY19 came in at Rs. 16.19 crore as against Rs. 24.39 crore from last year, yoy decline of 33.6 per cent.

At 11:40 AM, the stock of Sharda Cropchem was trading at Rs. 315 per share, lower by almost 3 per cent on BSE. While the BSE Sensex was trading at 34,521 up by 80 points on Thursday.