reports
- Nitin Agarwal
Sharda Cropchem's Q3FY20 results (Outperformer) - Weakness continues
Q3FY20 result Sharda’s revenues declined by 18.7% to Rs3.8bn (below our est.) led by 25% fall in realisations. Volumes grew by 7.3% yoy Among key geographies Latam registered 87% yoy growth, while revenues from Nafta, Europe and RoW region declined by 29.7%, 9.9% and 29.1% respectively Gross margins declined sharply by 467bps to 24.7% owing to unfavourable product mix and challenging market environment in Europe and Nafta Forex gain of Rs92m vs loss of Rs44m in Q3FY19 led to ...
- Nitin Agarwal
Sharda Cropchem's Q2FY20 results (Outperformer) - Weak performance
Q2FY20 result Sharda reported revenue growth of 4.7% to Rs3.2bn (in line with our est.) led by 5.3% volume growth, 3.1% forex impact and 2.8% realisation growth Among key geographies Europe registered 30.4%, while revenues from Nafta, Latam and RoW region declined by 10.7%, 11.6% and 9.2% respectively Gross margins declined sharply by 400bps to 27% on increasing prices of raw material procured from China and Sharda’s inability to pass on the increase to its customers Despite stable ...
- Nitin Agarwal
Sharda Cropchem's Q4FY19 results (Outperformer) - Profitability declin...
Q4FY19 result highlights Sharda Cropchem reported muted revenue growth with 0.2% yoy decline to Rs7.6bn (below our est of Rs8.7bn). Revenue growth in Q4FY19 was impacted by 21% yoy decline in volumes despite 16.7% realisation growth and 4.2% favourable currency impact. Among key geographies, NAFTA and Europe registered 6.8% and 5% yoy growth respectively , while revenues from RoW and Latam region declined by 46.5% and 35.5% respectively Gross margins declined by 335bps yoy to 31% on...
- Nitin Agarwal
Sharda Cropchem's Q3FY19 results (Outperformer) - Strong revenue growt...
Q3FY19 results In Q3FY19, Sharda reported revenue growth above our estimates, however EBITDA was in line with our expectation Sharda Cropchem reported strong revenue growth of 44.9% yoy to Rs4.7bn (much above our est of Rs3.7bn) led by 19% volume growth, 17% realisation growth and 9% favourable currency impact Among key geographies, strong revenue growth of 78% ,25% and 49% from NAFTA, Europe and RoW respectively was partially offset by weak performance in Latam which declined by 60%. ...
- Nitin Agarwal
Sharda Cropchem's Q2FY19 results (Outperformer) - Higher input costs i...
Q2FY19 results Sharda Cropchem’s Q2FY19 revenues increased by 11.4% yoy to Rs3.09bn (marginally below our est. Rs3.19bn) led by 11.3% realisation growth and favourable currency impact of 7.5%. Volumes declined by 7.4% yoy Among key geographies, strong revenue growth of 45.5% and 41.3% from NAFTA and RoW respectively was moderated by weak performance in Europe and Latam which declined by 11.6% and 27.5% respectively. Gross margins declined sharply 452bps to 31% due to increase in raw mat...
- Nitin Agarwal
Sharda Cropchem's Q1FY19 results (Outperformer) - Strong revenue grow...
Q1FY19 results Sharda Cropchem’s Q1FY19 revenues increased significantly by 34%yoy to Rs4.6bn (our est. Rs3.8bn) led by 20.8% realisation growth. Volume growth and exchange rate impact was 4.8% and 9% respectively Geographical growth split: Europe: (+57.5%), NAFTA (11%), Latam(+62.4%), RoW(+81.7%) Gross margins declined 116bps to 34.7% due to increase in raw material prices led by supply disruption from China. Sharda incurred forex loss of Rs140m which was booked in other expenses. This le...
- Nitin Agarwal
Sharda Cropchem's Q4FY18 results (Outperformer) - Profitability improv...
Q4FY18 results Sharda Cropchem’s Q4FY18 revenues increased significantly by 29%yoy to Rs7.7bn (our est. Rs6.8bn) led by 18% volume growth, while realisation growth and exchange rate impact was 6.2% and 5% respectively Geographical growth split: Europe: (+23.4%), NAFTA (+37%), Latam( +19.2%), RoW(+33%) Gross margins declined 123bps to 34.7% due to increase in raw material prices due to plant shut down in China. EBITDA increased by 21.5% yoy to Rs1.98bn (est.Rs1.6bn), while EBITDA margins dec...
- Nitin Agarwal
Sharda Cropchem's Q3FY18 results (Outperformer) - Muted profitabilty
Q3FY18 results Sharda Cropchem’s Q3FY18 revenues increased significantly by 34% yoy to Rs3.2bn (our est., Rs2.7bn). Strong growth in revenue from Europe and NAFTA region more than made up for the decline in revenue from RoW and Latam. Gross margins declined 609bps from 35% in Q3FY17 to 28.9% due to steep rise in raw material prices due to plant shut down in China. In Q3FY18, NAFTA sales contribution rose to 40.1% (28.3% in Q3FY17), while Europe revenue contribution remained stable at 35.2%. ...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.