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SHARDACROP - Sharda Cropchem

📊 NSE: SHARDACROP 🏢 Pesticides / Agrochemicals - Indian 📅 Last Updated: 12/14/2025 13:09

📢 Recent Corporate Announcements

CRISIL Reaffirms 'A1+' Rating for Sharda Cropchem's Rs 456 Crore Short-Term Facilities

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 23 Feb 2026, 03:50 PM

CRISIL Limited has reaffirmed the credit rating for Sharda Cropchem Limited's short-term bank facilities at 'CRISIL A1+'. The rating applies to bank loan facilities totaling Rs. 456 crores. This reaffirmation signifies the company's strong creditworthiness and its ability to meet short-term financial obligations. Such a rating is typically indicative of a robust liquidity profile and stable financial standing in the agrochemical sector.

CRISIL reaffirmed the 'CRISIL A1+' rating for short-term bank facilities
The total value of bank loan facilities covered under this rating is Rs. 456 crores
The 'A1+' rating is the highest category for short-term instruments, reflecting very strong safety
The rating action was officially communicated on February 23, 2026

💡 Investors should view this as a confirmation of the company's financial stability. No immediate portfolio changes are required as this is a reaffirmation of existing credit strength.

Sharda Cropchem Q3 FY26 PAT Surges 366% to ₹145 Cr; Declares ₹6 Interim Dividend

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 03 Feb 2026, 12:16 PM

Sharda Cropchem reported a stellar Q3 FY26 performance with revenue growing 39% YoY to ₹1,289 crores, driven by a 48% surge in the agrochemical segment. Profitability saw a massive jump as PAT rose 366% to ₹145 crores, marking the company's highest-ever annual PAT within just nine months. Management has guided for continued momentum in FY27 with expected volume growth of 15% and revenue growth of 15-20%. The company remains net debt-free with a strong cash position of ₹826 crores and has declared an interim dividend of ₹6 per share.

Q3 FY26 Revenue grew 39% YoY to ₹1,289 crores, with Agrochemicals segment growing 48%
PAT witnessed a massive 366% YoY growth to ₹145 crores, achieving record annual PAT in 9 months
EBITDA margins improved to 19.1%, with management raising FY26 guidance to the 18-20% range
Working capital cycle improved significantly by 48 days compared to March 2025, now at 70 days
Total product registrations reached 3,004, with an additional 1,076 applications in the pipeline

💡 Investors should note the strong volume recovery in Europe and Latin America and the company's ability to pass on costs. The robust registration pipeline and asset-light model support the management's optimistic 15-20% revenue growth guidance for FY27.

Sharda Cropchem Releases Q3 FY 2025-26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 30 Jan 2026, 04:20 PM

Sharda Cropchem Limited has released the audio recording of its Q3 FY 2025-26 earnings conference call held on January 30, 2026. This disclosure follows the company's quarterly financial results announcement and is a routine regulatory requirement under SEBI (LODR) Regulations. The recording provides investors and analysts with management's detailed commentary on the company's financial performance and strategic outlook. Access to this recording ensures transparency for shareholders who were unable to attend the live session.

Audio recording for Q3 FY 2025-26 earnings call is now publicly available.
The conference call was conducted on January 30, 2026, at 1:00 PM IST.
Compliance filing made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The recording link is hosted on the company's website and a public Google Drive link.

💡 Investors should listen to the recording to understand management's perspective on global agrochemical demand and margin pressures. No immediate trading action is required based on this administrative disclosure.

Sharda Cropchem Q3 PAT Jumps 366% to ₹145 Cr; Record 9M Profit; ₹6 Dividend Declared

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 29 Jan 2026, 02:48 PM

Sharda Cropchem reported a stellar Q3 FY26 with revenue growing 39% YoY to ₹1,288.8 crore, driven by strong volume growth in Europe. Net profit skyrocketed by 366% YoY to ₹145.1 crore, while EBITDA margins expanded by 250 bps to 19.1%. Notably, the company has already achieved its highest-ever annual PAT within the first nine months of the fiscal year, totaling ₹362.3 crore. The company remains debt-free with a strong cash position of ₹826 crore and has declared an interim dividend of ₹6 per share.

Revenue grew 39% YoY to ₹1,288.8 Cr in Q3 FY26, with 9M FY26 revenue up 29% to ₹3,202.7 Cr.
PAT for Q3 surged 366% YoY to ₹145.1 Cr; 9M FY26 PAT of ₹362.3 Cr is already the highest-ever annual profit for the company.
EBITDA margins improved to 19.1% in Q3, up from 16.6% YoY, driven by volume growth and improved product mix.
Europe agrochemical revenue grew by 123% YoY in Q3, significantly offsetting a 7% decline in the NAFTA region.
Company declared an interim dividend of ₹6 per share and remains debt-free with ₹826 Cr in liquid investments.

💡 Investors should view this as a very strong performance characterized by significant margin expansion and record profits. The stock is likely to react positively to the earnings beat and the healthy interim dividend payout.

Sharda Cropchem Q3 FY26 PAT Surges 366% YoY to ₹145 Cr; Revenue Up 39%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 02:44 PM

Sharda Cropchem reported a robust performance for Q3 FY26, with total revenue growing 39% YoY to ₹1,289 crore, primarily driven by a 48% surge in the agrochemical segment. Net profit (PAT) witnessed a massive jump of 366% to ₹145 crore, supported by a 220 bps improvement in gross margins to 34.9%. The growth was largely fueled by the European market, which saw a 123% revenue increase in the agrochemical division. The company continues its asset-light strategy, investing ₹399 crore in capex during 9M FY26, mainly for product registrations.

Consolidated Revenue for Q3 FY26 grew 39% YoY to ₹1,289 Cr, with Agrochemicals contributing 89% of total sales.
Net Profit (PAT) skyrocketed 366% YoY to ₹145 Cr, while EBITDA rose 59% to ₹246 Cr during the quarter.
Gross Margins expanded by 220 basis points to 34.9% due to a favorable product mix and 14.5% volume growth in Agrochemicals.
European agrochemical revenue more than doubled, growing 123% YoY to ₹654 Cr, offsetting a 7% decline in the NAFTA region.
The company maintains a strong IP pipeline with 3,004 registrations and 1,076 additional applications pending globally.

💡 Investors should take note of the significant margin expansion and the company's successful penetration in the European market. The asset-light model continues to deliver high returns, making it a strong play in the global generic agrochemical space.

Sharda Cropchem Q3 Net Profit Jumps 366% YoY to ₹145 Cr; Declares ₹6 Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 02:23 PM

Sharda Cropchem reported a robust performance for Q3 FY26, with consolidated revenue from operations rising 38.7% YoY to ₹1,288.76 crore. The company's net profit saw a massive surge of 366% YoY, reaching ₹145.11 crore compared to ₹31.14 crore in the same quarter last year. Additionally, the board declared an interim dividend of ₹6.00 per equity share, with a record date of February 6, 2026. This strong performance is reflected in the 9-month FY26 profit, which has more than tripled to ₹362.27 crore compared to the previous year.

Revenue from operations increased 38.7% YoY to ₹1,288.76 crore in Q3 FY26
Consolidated Net Profit rose significantly to ₹145.11 crore from ₹31.14 crore in Q3 FY25
Interim dividend of ₹6.00 per share (60% of face value) declared for FY 2025-26
9-month FY26 Net Profit stands at ₹362.27 crore versus ₹100.81 crore in 9M FY25
Foreign exchange loss narrowed to ₹4.54 crore in Q3 FY26 from ₹39.51 crore in Q3 FY25

💡 The stock is expected to react positively to the substantial growth in both top and bottom lines along with the dividend payout. Investors may consider holding or accumulating on dips given the strong 9-month performance momentum.

Sharda Cropchem Sets February 6, 2026, as Record Date for Interim Dividend

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 29 Jan 2026, 02:21 PM

Sharda Cropchem Limited has officially fixed Friday, February 6, 2026, as the record date for its interim dividend for the financial year 2025-26. This date will be used to determine the eligibility of shareholders to receive the dividend payment. The announcement follows the company's compliance with SEBI Listing Obligations and Disclosure Requirements. While the specific dividend amount was not detailed in this filing, the establishment of a record date confirms a forthcoming cash payout to eligible investors.

Record date for interim dividend fixed as February 6, 2026
Dividend pertains to the Financial Year 2025-26
Announcement made in compliance with Regulation 42 of SEBI LODR Regulations
Applies to shareholders of NSE: SHARDACROP and BSE: 538666

💡 Investors seeking to receive the dividend should ensure they hold the stock before the ex-dividend date, which typically precedes the record date. Current shareholders must maintain their positions through the record date to qualify for the payout.

Sharda Cropchem Q3 Net Profit Surges 366% YoY to ₹145.1 Cr; Declares ₹6 Interim Dividend

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 29 Jan 2026, 02:11 PM

Sharda Cropchem reported a robust Q3 FY26 with consolidated revenue rising 38.7% YoY to ₹1,288.76 crore. Net profit saw a massive jump of 366% YoY to ₹145.11 crore, driven by strong operational performance and significantly lower foreign exchange losses compared to the previous year. The board also declared an interim dividend of ₹6 per share (60% of face value) with a record date of February 6, 2026. For the nine-month period ended December 2025, the company has already surpassed its full-year FY25 profit, reaching ₹362.27 crore.

Q3 FY26 Consolidated Revenue grew 38.7% YoY to ₹1,288.76 crore.
Net Profit for the quarter jumped 366% YoY to ₹145.11 crore from ₹31.14 crore in Q3 FY25.
Interim dividend of ₹6.00 per share declared; Record date set for February 6, 2026.
9M FY26 Net Profit reached ₹362.27 crore, a 259% increase over the 9M FY25 period.
Foreign exchange losses reduced significantly to ₹4.54 crore in Q3 FY26 from ₹39.51 crore YoY.

💡 The stock is likely to react positively to the massive profit growth and dividend payout. Investors should consider holding or accumulating on dips as the company shows strong operational recovery and margin improvement.

Sharda Cropchem to Discuss Q3 & 9M FY26 Results in Earnings Call on Jan 30, 2026

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 22 Jan 2026, 06:02 PM

Sharda Cropchem Limited has scheduled a conference call for analysts and investors on January 30, 2026, at 1:00 PM IST. The primary objective is to discuss the company's financial performance for the third quarter and the nine-month period of FY26. Senior management, including the Chairman & Managing Director and the CFO, will be present to provide insights and answer queries. This call is a standard post-earnings procedure to provide transparency on operational and financial metrics.

Conference call scheduled for Friday, January 30, 2026, at 1:00 PM IST.
Agenda includes discussion of Q3 FY26 and 9M FY26 financial results.
Senior management participation: CMD Mr. Ramprakash V. Bubna and CFO Mr. Shailesh Mehendale.
Call hosted by Antique Stock Broking Limited with universal and international dial-in facilities.
Express Join registration link provided for immediate access to the call.

💡 Investors should monitor the call for management's outlook on global agrochemical demand and margin sustainability. Reviewing the post-call transcript is recommended for those unable to attend the live session.

Sharda Cropchem Submits Routine SEBI Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 01:46 PM

Sharda Cropchem Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by KFin Technologies Limited, confirms that all dematerialization and rematerialization requests for the quarter ended December 31, 2025, have been processed and reported to the exchanges. This is a standard administrative filing required by all listed companies in India. It does not contain any material financial information or operational updates.

Compliance certificate submitted for the quarter ended December 31, 2025.
Issued by the company's Registrar & Share Transfer Agent, KFin Technologies Limited.
Confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
Verification of dematerialized and rematerialized securities completed for the period.

💡 No action is required as this is a routine regulatory filing. Investors should monitor the company for upcoming quarterly financial results for material performance updates.

Sharda Cropchem Announces Trading Window Closure from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Dec 2025, 03:46 PM

Sharda Cropchem Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This routine measure precedes the board meeting to approve un-audited financial results for the quarter and nine months ending December 31, 2025. The window will remain closed for all designated persons until 48 hours after the results are officially filed with the stock exchanges. The specific date for the board meeting will be communicated separately in the future.

Trading window closure effective from January 1, 2026
Pertains to financial results for the quarter and nine months ending December 31, 2025
Window to reopen 48 hours after the board meeting results are filed
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 This is a standard regulatory filing with no impact on company fundamentals; investors should monitor for the upcoming earnings announcement date.

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💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, total revenue from operations reached INR 929.1 Cr, a 20% YoY increase from INR 776.9 Cr. The Agrochemical business grew 27% YoY to INR 803 Cr, while the Non-agrochemical business (conveyor belts, dyes) declined 11% YoY to INR 126 Cr. For H1 FY26, total revenue was INR 1,913.9 Cr, up 23% from INR 1,562.0 Cr in H1 FY25.

Geographic Revenue Split

The company maintains a dominant presence in the regulated markets of NAFTA and Europe, serving a total of 80+ countries. While specific regional percentages for Q2 FY26 are not disclosed, the business model is heavily weighted toward these high-entry-barrier regulated geographies.

Profitability Margins

Gross Margin for Q2 FY26 improved significantly to 34.5%, up 690 basis points from 27.6% in Q2 FY25. PAT Margin for Q2 FY26 stood at 8.0%, an increase from 5.5% in the previous year. H1 FY26 PAT margin reached 11.3% compared to 4.5% in H1 FY25, reflecting improved operational efficiency.

EBITDA Margin

EBITDA for Q2 FY26 was INR 138.9 Cr, representing 71% YoY growth. The EBITDA margin improved to 15.0% from 10.5% in Q2 FY25. The company has provided guidance to maintain EBITDA margins in the range of 15% to 18% for the full fiscal year 2026.

Capital Expenditure

The company invested INR 250 Cr in Capex during H1 FY26. For the full year FY26, Sharda Cropchem has planned a total Capex of INR 450 Cr to INR 500 Cr, primarily focused on increasing product registrations to build a long-term growth pipeline.

Credit Rating & Borrowing

CRISIL has reaffirmed its 'CRISIL A1+' rating on short-term bank facilities. The company maintains an almost debt-free balance sheet with an adjusted debt/networth ratio of 0.00 as of September 2024. Interest coverage was robust at 39.44 times in fiscal 2023.

⚙️ Operational Drivers

Raw Materials

The company operates an asset-light model, sourcing generic agrochemical active ingredients and formulations from third-party manufacturers. Specific chemical names are not disclosed, but these inputs represent the bulk of the COGS, which was INR 608.4 Cr in Q2 FY26 (65.5% of revenue).

Import Sources

Sourcing is primarily conducted through third-party manufacturers globally to support its asset-light model, with a focus on cost-effective procurement for generic formulations sold in regulated markets.

Key Suppliers

Not specifically named in the documents; the company utilizes a network of third-party manufacturers to avoid the capital intensity of owned production facilities.

Capacity Expansion

Expansion is measured by registrations rather than physical plant capacity. As of December 31, 2024, the group held 2,948 registrations (up from 2,859 in June 2023) and had 1,047 applications pending globally.

Raw Material Costs

COGS for H1 FY26 was INR 1,244.0 Cr, representing 65% of revenue, compared to 71.6% in H1 FY25. This 6.6% reduction in cost-to-revenue ratio highlights improved procurement or better product mix pricing.

Manufacturing Efficiency

Efficiency is driven by the asset-light model, focusing on high-margin regulated markets. Segmental margins are improving despite negative price realizations in some categories due to volume-led growth.

Logistics & Distribution

Distribution is handled via 525 third-party distributors and 500+ sales personnel. Logistics costs are embedded in 'Other Expenses', which represented 18.2% of revenue in Q2 FY26.

📈 Strategic Growth

Expected Growth Rate

15-18%

Growth Strategy

The company aims to achieve its growth targets by investing INR 450-500 Cr in Capex for new product registrations, leveraging its pipeline of 1,047 pending applications. It focuses on volume-driven growth in generic agrochemicals within the NAFTA and European regions while optimizing its product mix to sustain margins.

Products & Services

Generic agrochemicals (herbicides, fungicides, and insecticides), conveyor belts, dyes, and dye intermediates.

Brand Portfolio

Sharda Cropchem, Sharda International.

New Products/Services

The company is continuously launching products from its 2,948 existing registrations and 1,047 pending applications, focusing on the agrochemical segment which grew 27% YoY.

Market Expansion

Expansion is targeted through increasing the depth of registrations in existing markets like Europe and NAFTA and expanding the sales force of 500+ personnel across 80+ countries.

Market Share & Ranking

Not disclosed, but identified as a 'fast-growing global' player in the generic agrochemical space.

Strategic Alliances

The company operates through numerous wholly-owned and step-down subsidiaries globally (e.g., Sharda USA LLC, Sharda Europe BVBA) to manage local registrations and distribution.

🌍 External Factors

Industry Trends

The industry is shifting toward generic alternatives as patents for major agrochemical molecules expire. Sharda is positioned to capture this by maintaining a massive registration library (2,948) and an asset-light model that avoids high fixed manufacturing costs.

Competitive Landscape

Competes with global generic agrochemical players. Competitive dynamics are driven by the ability to secure registrations and maintain low-cost sourcing.

Competitive Moat

The moat is built on a 'registration-heavy' model which is difficult to replicate due to the time (3-5 years) and cost required to obtain regulatory approvals in Europe and NAFTA. This is sustainable as long as the company continues its INR 450 Cr+ annual Capex into new dossiers.

Macro Economic Sensitivity

Highly sensitive to global agricultural cycles and regulatory changes in the EU and NAFTA regions regarding pesticide usage and registration norms.

Consumer Behavior

Demand is driven by global farm income levels and the need for cost-effective crop protection solutions, favoring generic providers like Sharda.

Geopolitical Risks

Operations in 80+ countries, including subsidiaries in Ukraine and Russia, expose the company to regional geopolitical instabilities and trade barrier risks.

⚖️ Regulatory & Governance

Industry Regulations

Operations are strictly governed by pesticide registration norms in 80+ countries. Changes in regulatory norms are cited as a key factor that could cause actual results to differ from projections.

Environmental Compliance

As an asset-light company, primary environmental compliance risks are managed by its third-party manufacturing partners, though Sharda must ensure products meet stringent regulatory standards in Europe and NAFTA.

Taxation Policy Impact

Tax expense for Q2 FY26 was INR 11.4 Cr (13.3% effective rate on PBT) compared to INR 3.1 Cr in Q2 FY25. H1 FY26 tax expense was INR 37.7 Cr.

Legal Contingencies

Not disclosed in the provided documents; however, the company manages a complex web of global subsidiaries to comply with local laws.

⚠️ Risk Analysis

Key Uncertainties

Key risks include a potential increase in gearing above 0.5x if working capital stretches, and significant sustained reductions in EBITDA impacting cash generation.

Geographic Concentration Risk

High concentration of registrations and revenue in NAFTA and Europe, making the company vulnerable to regulatory shifts in these specific jurisdictions.

Third Party Dependencies

Heavy reliance on third-party manufacturers for 100% of production; any disruption at the vendor level directly impacts the ability to fulfill orders.

Technology Obsolescence Risk

Risk of new, more effective patented molecules displacing the generic versions Sharda deals in, mitigated by constant investment in a pipeline of 1,047 new registration applications.