New Research Reports

Transforming India Through Agriculture

Sumitomo Chemical (Sumitomo) reported subdued 4Q numbers below our and consensus estimates with flat revenue growth while EBITDA and PAT declined by 15% and 9% y/y respectively.

Quarterly Update Q4FY25

We recently met Sharda Cropchem’s Chairman and MD, Mr R V Bubna to gauge the business outlook. Management is confident of achieving double-digit revenue growth (guidance raised 26% y/y post Q3 results vs. 15-20% earlier) in FY25, particularly due to volumes and penetration into new markets.

Diagnostics business to see strong growth

We interacted with the management (Mr. Rajesh Agarwal, MD) of Insecticides India Ltd (IIL) on 11th February 2025. Insecticides India Ltd (IIL) is recognised as one of India's fastest-growing agrochemical companies, specialising in crop protection and nutrition.

Broadly in line with consensus and our estimates, Dhanuka Agritech reported a decent set of Q3 figures. Revenue/EBITDA/PAT grew 10%/22%/21% y/y.

We maintain our BUY rating on the stock.

We maintain our BUY rating on the stock.

With revenue/EBITDA/PAT up 18%/61%/59% y/y, Sumitomo Chemicals reported decent Q3 results, though marginally lower than our estimates and the consensus.