Agrochemical stock announced interim dividend. Check record date

“We wish to inform you that the company has fixed Tuesday, 07th February, 2023 as the ‘record date’ for the purpose of ascertaining the eligibility of the shareholders for payment of Interim Dividend for the Financial Year 2022-23. The Interim Dividend shall be paid or dispatched on or before Thursday, 23rd February, 2023,” the company informed in an exchange filing.

Agrochemical company Sharda Cropchem Limited is engaged in the supplying a variety of Conveyor belts, V-belts, etc. These belts are used mainly in mining projects followed by Steel plants, quarries, grain silos, cement manufacturing facilities, ports, tunnelling projects, etc. The stock has declined more than 16 in a year’s period.

“Sharda Cropchem’s (SSC) performance bounced back in Q3FY23. SCC had endured a tepid H1FY23, suffering unfavourable EUR/USD movement, causing FX losses and impacting gross margins. With the recovery in gross margins and FX gain vs. our estimates of losses, overall EBITDA/PAT was ahead of estimates,” highlighted brokerage Edelweiss.

Sharda Cropchem’s net profit rose to ₹108 crore during the quarter as against ₹102 crore a year ago. Meanwhile, its sales grew to ₹1,017 crore versus ₹879.8 crore in the same quarter of the previous fiscal.

“Considering the strong growth momentum, sturdy business model, healthy pipeline of formulations, active-ingredient registrations, a better revenue mix across regions and consistent RoEs & RoCEs, we are upbeat about Sharda’s mid-to long-term prospects. Further, it is expanding its range of products in each region, exploring newer markets and penetrating deeper into existing ones,” said brokerage Anand Rathi in a note.