Quarterly Results: Sharda Cropchem Ltd

Technical View: 

Sharda Cropchem Ltd., is currently trading at Rs. 411, up by 0.5 points or 0.12% from its earlier closing of Rs. 410.5 on the BSE.

The scrip touched a high and low of Rs. 413 and Rs. 399 respectively, after opening at 410.5. Altogether 66029 (NSE+BSE) shares were traded on the counter; and the stock is currently trading below its 50 DMA.

Consolidated Results Q2FY17: (Rs. in crore)


***EBITDA margin change in bps

Sharda CropChem’s Q2FY17 numbers are a  mixed bag as compared to Bloomberg estimates. Revenue has come in 8.5% lesser than the estimate of Rs 270 cr and net profit is 13.6% greater than the estimated figure of Rs 29 cr.

Revenue for the quarter marginally jumped by 3.8% yoy to Rs 247 cr. 

Sharda CropChem's reported EBITDA has surged 24.1% yoy to Rs 51 cr while EBITDA margins have extended by 338 bps yoy to 20.6%. This can be attributed to adjustments for changes in inventories of finished goods & stock-in-trade increasing 121.3% yoy. Also, employee benefits expense and other expenses reduced by 5% and 15% yoy respectively further triggering margin expansion.

The company's net profit  has jumped 25% yoy to Rs 33 cr.