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Anand Rathi Report
Sharda Cropchem Ltd. focuses only on registering formulations and active ingredients for regions, globally. Its revenue has clocked a 15.1% compound annual growth rate from FY13 to FY21.
We estimate revenue from new and existing registrations to register a 16.6% CAGR over FY22-24. We estimate 16% and 10% revenue CAGRs over FY22-24 in its agrochemicals and non-agrochemical businesses, respectively.
Strong pipeline and distribution network would add to growth. Internally funded capex and free cash flow generation would strengthen Sharda Cropchem's balance sheet, resulting in higher return ratios.
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