Revenue during the period under review increased by 47% YoY to Rs 929.3 crore.
Agrochemical business recorded revenues of Rs 769 crore (up 51% YoY while that from the non-agro business was Rs 160 crore (up 30% YoY).
The company stated that the overall volumes have risen by 49.1% Y-o-Y in Q3 FY25. The agrochemical volumes grew by 49.5% & non-agrochemical volumes were higher by 42.4%. Europe, NAFTA and LATAM have been key contributors for the volume growth, the company stated.
EBITDA for Q3 FY25 was Rs 156.6 crore as against Rs 47.2 crore in Q3 FY24. EBITDA margin rose to 16.9% in December’24 quarter from 7.5% in December’23 quarter.
Capex for 9M FY25 stood at Rs. 268 crore. Product registrations were at 2,948, with 1,047 applications globally pending at various stages as on 31 December 2024.
Ramprakash Bubna, chairman and MD, said: “Despite the ongoing global headwinds and persistent pricing pressures, we have seen a revival in demand which has led to a strong performance in Q3 FY25.
We saw volume growth across all regions, with Europe, NAFTA and LATAM being key drivers. With raw material prices stabilising, we have managed to expand the gross margin by 660 bps to 32.7%.
We have been working on cost optimization strategies and with operating leverage playing out, we have been able to improve our EBITDA Margins to 16.9% for the quarter.
We are confident on our ongoing plan to increase product registrations in FY25 with capex guidance of Rs. 400-450 crore enabling us to meet FY25 guidance.”
Sharda Cropchem primarily deals in generic agrochemicals, which comprise 86% of overall sales, with the remaining coming from trading in dyes and dye intermediates, and conveyor belts. The group is present in the entire agrochem value chain with 500 third-party distributors and over 400 sales personnel serving clientele in more than 80 countries.
The scrip slumped 5.06% to end at Rs 608.65 on the BSE on Friday.