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ICICI Direct Report
Sumitomo Chemicals India Ltd. reported revenue growth of 3.6% YoY to Rs 647.7 crore, largely impacted by lockdown leading to a fall in production volumes and thereby sales.
The agrochemical segment posted growth of 5.2% YoY to Rs 615.3 crore while non-agrochemical segment fell 20% YoY to Rs 32.4 crore.
Better gross margins (up 224 basis points YoY) due to a change in product mix and hike in few crop protection chemical prices along with lower other cost resulted into operating profit margin expansion by 477 basis points YoY to 18.3% leading to Ebitda growth of 40% YoY to Rs 119 crore.
Profit after tax remained at Rs 79.4 crore (up 47% YoY), aided by higher other income and a better operational performance.
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