Sharda Cropchem Ltd

Sharda Cropchem Ltd

₹ 431 -1.00%
18 Jun - close price
About

Sharda Cropchem is principally engaged in export of agrochemicals (technical grade and formulations) and non-agro products such as conveyor belts, rubber belts/sheets, dyes and dye intermediates to various countries across the world.

Key Points

Asset Light Business Model[1]
The company follows an asset light business model as they focus on Identification of generic molecules, preparing dossiers, seeking registrations, marketing & distributing formulation. The company outsources the manufacturing of AI's and other formulations and this has resulted in cost competitiveness across various geographies.

  • Market Cap 3,891 Cr.
  • Current Price 431
  • High / Low 578 / 318
  • Stock P/E 122
  • Book Value 248
  • Dividend Yield 1.39 %
  • ROCE 3.36 %
  • ROE 1.43 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 38.7%

Cons

  • The company has delivered a poor sales growth of 9.63% over past five years.
  • Company has a low return on equity of 11.7% over last 3 years.
  • Company has high debtors of 173 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,088 623 643 880 1,434 825 722 1,017 1,482 638 581 632 1,312
885 508 553 691 1,144 772 656 810 1,164 697 560 563 1,057
Operating Profit 203 115 90 188 290 53 65 207 318 -59 21 69 255
OPM % 19% 18% 14% 21% 20% 6% 9% 20% 21% -9% 4% 11% 19%
17 6 13 7 3 20 10 3 7 26 24 12 -2
Interest 1 1 0 0 1 1 0 1 2 1 5 1 0
Depreciation 52 54 61 59 72 55 60 65 68 70 74 69 54
Profit before tax 167 66 42 136 220 18 15 143 255 -105 -34 12 198
Tax % 20% 43% 23% 25% 20% -28% 17% 24% 22% 15% 18% 62% 28%
134 38 32 102 177 23 12 108 199 -89 -28 5 143
EPS in Rs 14.84 4.22 3.55 11.33 19.62 2.51 1.34 12.01 22.04 -9.82 -3.06 0.51 15.90
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
778 790 1,061 1,222 1,399 1,707 1,998 2,003 2,396 3,580 4,045 3,163
639 630 878 941 1,075 1,343 1,621 1,653 1,945 2,884 3,386 2,880
Operating Profit 138 160 183 281 324 364 376 350 450 696 659 283
OPM % 18% 20% 17% 23% 23% 21% 19% 17% 19% 19% 16% 9%
16 32 25 23 14 9 -22 -12 46 29 40 60
Interest 0 8 9 8 9 15 20 16 16 15 20 4
Depreciation 37 29 23 35 56 70 99 137 170 245 248 267
Profit before tax 118 155 175 261 272 287 235 185 309 464 431 72
Tax % 28% 29% 30% 33% 30% 34% 25% 11% 26% 25% 21% 56%
84 111 123 175 190 191 176 165 229 349 342 32
EPS in Rs 9.35 12.31 13.63 19.41 21.11 21.14 19.55 18.25 25.40 38.71 37.90 3.53
Dividend Payout % 0% 16% 18% 21% 19% 19% 20% 22% 20% 16% 16% 85%
Compounded Sales Growth
10 Years: 15%
5 Years: 10%
3 Years: 10%
TTM: -22%
Compounded Profit Growth
10 Years: -11%
5 Years: -31%
3 Years: -48%
TTM: -90%
Stock Price CAGR
10 Years: %
5 Years: 6%
3 Years: 7%
1 Year: -19%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 12%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 90 90 90 90 90 90 90 90 90 90 90 90
Reserves 377 466 564 715 870 1,045 1,194 1,313 1,524 1,822 2,142 2,147
46 40 38 2 0 170 0 0 81 47 3 18
284 319 354 522 686 914 914 940 1,163 1,779 2,108 1,783
Total Liabilities 796 914 1,047 1,329 1,646 2,219 2,198 2,343 2,858 3,738 4,343 4,038
64 64 88 130 210 226 372 416 544 592 668 991
CWIP 88 133 149 210 232 360 220 161 131 212 204 0
Investments 97 174 95 90 61 22 212 116 83 134 32 159
547 542 715 899 1,143 1,611 1,394 1,650 2,099 2,800 3,439 2,888
Total Assets 796 914 1,047 1,329 1,646 2,219 2,198 2,343 2,858 3,738 4,343 4,038

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
156 46 197 181 17 556 146 246 267 328 341
-145 -19 -113 -104 -160 -351 -59 -282 -205 -112 -393
-22 -24 -89 -38 132 -215 -60 43 -91 -97 -37
Net Cash Flow -11 3 -6 40 -11 -11 27 8 -29 120 -89

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 178 185 156 185 175 191 148 180 177 157 165 173
Inventory Days 62 57 72 74 117 169 96 100 117 130 145 155
Days Payable 130 146 117 179 186 202 167 180 180 172 176 144
Cash Conversion Cycle 111 97 111 81 106 158 77 100 114 115 134 184
Working Capital Days 101 85 95 96 99 130 71 101 105 92 97 148
ROCE % 26% 28% 27% 36% 32% 27% 23% 18% 21% 26% 21%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.82% 74.82% 74.82% 74.82% 74.82% 74.82% 74.82% 74.82% 74.82% 74.82% 74.82% 74.82%
1.19% 0.89% 1.00% 1.69% 2.16% 2.37% 2.41% 2.14% 2.00% 2.01% 2.06% 2.14%
16.52% 13.55% 12.74% 12.84% 12.76% 12.93% 12.61% 12.93% 12.75% 12.29% 12.42% 12.41%
7.47% 10.74% 11.44% 10.64% 10.26% 9.88% 10.15% 10.09% 10.44% 10.87% 10.70% 10.63%
No. of Shareholders 32,26337,73235,80347,89861,04958,19261,10654,22252,12656,48356,85861,075

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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