Sharda Cropchem Limited has reported consolidated financial results for the period ended June 30, 2024.

Sharda Cropchem has posted net profit of Rs. 27.25 crores for the period ended June 30, 2024 as against net profit of Rs. 143.46 crores for the period ended March 31, 2024. The company posted net profit loss of Rs. 88.63 crores for the period ended June 30, 2023.

Sharda Cropchem has reported total income of Rs. 804.39 crores during the period ended June 30, 2024 as compared to Rs. 1,310.04 crores during the period ended March 31, 2024. The company reported total income of Rs.663.76 crores during the period ended June 30, 2023.

Ramprakash Bubna, Chairman and MD, said: “In Q1FY25, we recorded an improvement in financial results on Y-o-Y basis despite a challenging market environment. Revenue has grown by 23% majorly due to growth in volumes by 41% as compared to last year. We have seen volume growth across all major regions with Europe nearly doubling. Volumes from Agrochemicals grew by 49%. Gross Margins at 29.2% have come back to normalcy and we expect this to improve in this financial year with prices expected to increase. This enhances profitability and organisational agility, ensuring a strong foundation for future growth.

As we look ahead, we aim to increase our product registrations and expect Capex of ~Rs. 400-450 crores on the same in FY25 and expand our global presence.”