Sharda Cropchem hits the roof after posting stellar Q4 results

Sharda Cropchem hit 20% upper circuit at Rs 348.65 at 14:00 IST on BSE after consolidated net profit surged 121.23% to Rs 106.36 crore on 53.85% rise in net total income from operations to Rs 524.42 crore in Q4 March 2016 over Q4 March 2015.

The result was announced before market hours today, 26 May 2016.

Meanwhile, the BSE Sensex was up 331.25 points, or 1.28%, to 26,212.42.

High volumes were witnessed on the counter. On BSE, so far 1.24 lakh shares were traded in the counter, compared with an average volume of 12,185 shares in the past one quarter. The stock hit a high of Rs 348.65 and a low of Rs 300.10 so far during the day. The stock hit a 52-week high of Rs 369.90 on 29 May 2015. The stock hit a record low of Rs 203.25 on 25 February 2016. The stock had outperformed the market over the past one month till 25 May 2016, gaining 9.77% compared with 0.79% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 40.23% as against Sensex's 12.64% rise.

The mid-cap company has equity capital of Rs 90.22 crore. Face value per share is Rs 10.

Sharda Cropchem is a crop protection chemical company marketing and distributing a wide range of formulations and generic active ingredients globally. While more than 90% of the sales comprising formulations, the company is also in order-based procurement and supply of belts, generic chemicals, dyes and dye intermediates. The company's core strength lies in identifying generic molecules, preparing dossiers, seeking registrations, marketing and distributing formulations in fungicide, herbicide and insecticide segments.

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