New Research Reports

Sharda Cropchem Limited (SCL) reported solid growth in 2Q FY25 as revenues increased by 33.8% y-o-y to Rs 776.9 crore. A volume growth of 21% y-o-y was driven by strong performance at the agrochemical segment with Europe being the key contributor.

Based on our estimates, PI Industries is valued at 30x FY26E, with a target price of Rs 4,980 per share. This implies an upside potential of 6% from the CMP, with a HOLD recommendation.

Diagnostics business to see strong growth

Quarterly Update Q1FY25

We maintain our BUY rating on the stock.

PI Industries’ (PI) revenue for the quarter reached Rs. 2,069 crore, reflecting an 8% y-o-y increase
and a 19% q-o-q rise, 2% above expectations.

We revise our SELL rating on the stock to HOLD as we rerate it at 22x FY26E to reflect a superior competitive position.

UPLL reported a weak quarter as revenue grew marginally (1% YoY), led by strong volume growth (up 16%) offset by lower agrochemical prices.

Sharda Cropchem Limited (SCL) reported solid growth in 1Q FY25 as revenues increased by 23.1% y-o-y to Rs 785.1 crore. A volume growth of 41% y-o-y was driven by strong performance at the agrochemical segment.