Sharda Cropchem tumbles 7 per cent on poor Q1FY19 numbers

Sharda Cropchem reported PAT of Rs. 34.23 crore for the quarter ended June 30, 2018, which is a yoy decline of 20.8 per cent. The company announced results for the quarter ended June 30, 2018 on Monday after market hours.

The consolidated revenue for the quarter came in at Rs. 457.15 crore, registering 34 per cent yoy increase. Region wise revenue growth stood at Europe: 57.5 per cent, LATAM: 62.4 per cent, ROW: 81.7 per cent, while revenue from NAFTA de-grew by 11 per cent. Revenue contribution from top 10 molecules is 50.6 per cent in Q1FY19 as against 51.0 per cent in Q1FY18.

EBITDA for the quarter rose by 14.3 per cent yoy to Rs. 71.08 crore with a corresponding margin contraction of 268 bps. EBITDA margin for the quarter stood at 15.5 per cent. This margin contraction was led by jump in cost of materials and other expenses by 22.5 per cent and 56.3 per cent yoy, respectively.

The PAT for the quarter came in at Rs. 34.23 crore, yoy decline of 20.8 per cent. This was due to rise in depreciation expenses by 18.6 per cent yoy. Also, massive jump in interest cost to Rs. 3.60 crore from Rs. 0.03 crore in the corresponding quarter last year dragged the bottomline.

As of June 2018, the total number of registrations were 2,209 as compared to 2,157 as of March 2018. The company has another 984 registrations in pipeline across geographies.

On Tuesday, the stock was trading at Rs. 369.50 per share, almost down by 3 per cent and made an intraday low of Rs. 351.85 on the BSE.