Sharda Cropchem posts weak results for Q1FY20

Sharda Cropchem reported its results for the quarter ended June 30, 2019 on Wednesday during market hours. The company's consolidated revenue for the quarter came in at Rs. 423 crore.

Sharda Cropchem posted consolidated revenue of Rs. 423 crore as against Rs. 456.13 crore in the corresponding quarter last year, registering 7.26 per cent YoY decrease. This was mainly due to the decrease in revenue by 16.12 per cent from agrochemicals on a YoY basis.

The EBITDA for the quarter was down by 13.8 per cent YoY to Rs. 61.64 crore as against Rs. 71.50 crore in the corresponding quarter last year, with a corresponding margin contraction of 110 bps. EBITDA margin for the quarter stood at 14.57 per cent as against 20.17 per cent in Q4FY19. The PAT for the quarter came in at Rs. 22.76 crore as against Rs. 34.23  crore in the corresponding quarter last year, a decrease of 33.5 per cent YoY.

The depreciation and amortisation expenses increased by 92 per cent YoY to Rs. 35.24 crore as against Rs. 18.35 crore in Q1FY19.

On Wednesday, the stock of Sharda Cropchem opened at Rs 301.10 and made an intra-day high and low of Rs. 310.65 and Rs. 292, respectively, on the BSE. The stock closed at Rs. 305, up by 1.65 per cent.