Prabhudas Lilladher has buy call on Sharda Cropchem with a target price of Rs 740. The current market price of . is Rs 542.95. Time period given by analyst is one year when Ltd. price can reach defined target.
Sharda Cropchem Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 4980.62 Crore) operating in Pesticides/Agro Chemicals sector.
Sharda Cropchem Ltd. key Products/Revenue Segments include Agrochemicals, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 844.78 Crore, down -41.22 % from last quarter Total Income of Rs 1437.15 Crore and up 34.28 % from last year same quarter Total Income of Rs 629.14 Crore. Company reported net profit after tax of Rs 22.64 Crore in latest quarter.
Investment Rationale
Citing positive growth momentum across regions coupled with price hikes in the recent past, management remains confident of achieving 15-20% YoY revenue growth for FY23E, however adverse currency movement is likely to exert pressure on the margins in the near term. That said, factoring in adverse pressure on margins the brokerage trims EPS estimates for FY23/24E by 8%/2% respectively. Maintain ‘BUY’ with a revised TP of Rs740 (earlier INR750) based on 15xFY24E EPS.
Promoter/FII Holdings
Promoters held 74.82 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.16 per cent, DIIs 12.76 per cent.
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