Sharda Crop up 9.5%

Sharda Crop is among the top three gainers on the BSE since the opening bell today; opening 4.5% higher at Rs.375.45, the stock rose to an intraday high at Rs.393.35, up almost 9.5% and is now trading at Rs.385 levels.  Its 52-week high is at Rs.580 and low is at Rs.318.

The company’s performance for Q4FY24 was disappointing but because it was not as-bad-as expected by the analysts, it is up in the green.

The company’s total revenue for the quarter was down 11% (YoY) at Rs.1312 crore. Its two verticals, agrochemical and non-agro, both were down. Agro revenue was down 8% and non-agro was down 42% though overall volumes rose 25%. Revenues fell due to lower product price realizations across all regions.

EBITDA was down 3% at Rs.303 crore and margins fell from 17.4% to 15.1%.

PAT for the quarter came in at Rs.143 crore, down 28%.

Its full year performance too showed an overall decline with total revenue down 22% at Rs.3163 crore and PAT fell 91% at Rs.32 crore.

The good part – its cash and bank balance stands at Rs.375 crore and debt is almost non-existent at Rs.3 crore.