Sharda Cropchem Limited announced its unaudited financial results for the quarter and half year ended September 30, 2026 through a regulatory filing to the National Stock Exchange of India Limited and BSE Limited.

Financial Performance Highlights

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Revenue increased 13% YoY to ₹1,052 crore from ₹929 crore
  • Gross Profit grew 18% to ₹378 crore from ₹321 crore
  • Gross Profit Margin improved 140 basis points to 35.9% from 34.5%
  • EBITDA increased 18% to ₹164 crore from ₹139 crore
  • EBITDA Margin improved 70 basis points to 15.6% from 15.0%
  • Profit Before Tax (excluding forex gains) grew 17% to ₹108 crore from ₹92 crore
  • Profit Before Tax (including forex gains) increased 25% to ₹107 crore from ₹86 crore
  • Profit After Tax grew 23% to ₹92 crore from ₹74 crore

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Revenue increased 11% YoY to ₹2,125 crore from ₹1,914 crore
  • Gross Profit grew 15% to ₹772 crore from ₹670 crore
  • Gross Profit Margin improved 130 basis points to 36.3% from 35.0%
  • EBITDA increased 22% to ₹343 crore from ₹281 crore
  • EBITDA Margin improved 140 basis points to 16.1% from 14.7%
  • Profit Before Tax (excluding forex gains) grew 16% to ₹219 crore from ₹188 crore
  • Profit Before Tax (including forex gains) decreased 11% to ₹226 crore from ₹255 crore
  • Profit After Tax decreased 17% to ₹180 crore from ₹217 crore

Note: Profit Before Tax and Profit After Tax growth in Q2 was due to higher forex gains in H1 FY26

Segment-wise Revenue Breakdown

Quarterly Segment Performance:

  • Agrochemical Segment: ₹840 crore (80% of total), up 5% YoY from ₹803 crore
  • Non-Agro Segment: ₹212 crore (20% of total), up 68% YoY from ₹126 crore

Half-Yearly Segment Performance:

  • Agrochemical Segment: ₹1,755 crore (83% of total), up 6% YoY from ₹1,649 crore
  • Non-Agro Segment: ₹371 crore (17% of total), up 40% YoY from ₹265 crore

Product-wise Revenue Breakdown (Quarterly)

  • Herbicides: ₹432 crore, down 1% YoY from ₹438 crore
  • Insecticides: ₹263 crore, up 18% YoY from ₹223 crore
  • Fungicides: ₹144 crore, up 2% YoY from ₹142 crore

Region-wise Revenue Breakdown (Agrochemical Business)

Quarterly Performance:

  • Europe: ₹429 crore, down 7% YoY from ₹463 crore
  • NAFTA: ₹227 crore, up 6% YoY from ₹214 crore
  • LATAM: ₹128 crore, up 81% YoY from ₹71 crore
  • RoW: ₹55 crore, flat YoY from ₹55 crore

Half-Yearly Performance:

  • Europe: ₹896 crore, down 9% YoY from ₹985 crore
  • NAFTA: ₹567 crore, up 21% YoY from ₹469 crore
  • LATAM: ₹199 crore, up 69% YoY from ₹118 crore
  • RoW: ₹93 crore, up 22% YoY from ₹76 crore

Region-wise Revenue Breakdown (Non-Agrochemical Business)

Quarterly Performance:

  • Europe: ₹29 crore, up 16% YoY from ₹25 crore
  • NAFTA: ₹152 crore, up 94% YoY from ₹78 crore
  • LATAM: ₹12 crore, up 6% YoY from ₹11 crore
  • RoW: ₹19 crore, up 59% YoY from ₹12 crore

Half-Yearly Performance:

  • Europe: ₹48 crore, up 3% YoY from ₹47 crore
  • NAFTA: ₹273 crore, up 60% YoY from ₹171 crore
  • LATAM: ₹17 crore, down 28% YoY from ₹23 crore
  • RoW: ₹33 crore, up 36% YoY from ₹24 crore

Key Business Highlights

  • Capex in H1 FY27: ₹419 crore
  • Product Registrations: 3,044 as of September 30, 2026
  • Applications pending: 946 at various stages
  • Debt-free status maintained
  • Cash, bank and liquid investments: ₹846 crore

Management Commentary

Mr. Ramprakash Bubna, Chairman and MD, commented on the results:

  • NAFTA region showed standout performance with approximately 30% year-on-year revenue growth and significantly better margins
  • LATAM performed well with agrochemical revenue up over 80%
  • Europe experienced temporary moderation due to extended heat and drought conditions in central and eastern Europe affecting distributor restocking
  • The European challenges are viewed as weather-led temporary impacts rather than underlying demand changes
  • The company expects Europe to perform better in the second half, which is seasonally stronger

Guidance

  • FY27 revenue growth guidance maintained at 10-15%
  • EBITDA margins expected to improve through the year
  • FY27 EBITDA margin guidance maintained between 18-20%
  • Improvement expected from better product mix and operating leverage in the second half

Company Description

Sharda Cropchem Limited is described as a fast-growing global agrochemicals company with peer position in crop protection chemicals industry. The company offers fungicides, herbicides, insecticides, and biocides to global clientele.