Sharda Cropchem tumbled 18.91% to Rs 562.05 after the company's consolidated net profit declined by 40.5% to Rs 22.64 crore on 32.4% rise in net sales to Rs 824.53 crore in Q1 FY23 over Q1 FY22.
Profit before tax slumped by 73.5% to Rs 17.64 crore in Q1 FY23 as against Rs 66.47 crore in Q1 FY22.Total expenses increased 51.9% year on year to Rs 771.65 crore in the quarter ended 30 June 2022. Cost of raw materials consumed stood at Rs 300.11 crore (up 34% YoY) and other expenses stood at Rs 148.05 crore (up 155.5% YoY) during the period under review.
EBITDA rose 4% to Rs 111.1 crore in Q1 FY23 compared with Rs 106.6 crore in Q1 FY22. EBITDA margin de-grew to 13.5% as on 30 June 2022 as against 17.1% as on 30 June 2021.
Sharda Cropchem is a global crop protection chemical company largely operating across Europe, NAFTA and Latin America across fungicides, herbicides and insecticides.
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