Fundamental Analysis

SUMITOMO CHEMICAL INDIA LTD

Ticker : 542920
BUY: ₹419.80
Target: ₹465

Sumitomo Chemical India Ltd is one of the leading players in the industry, which is known for the domestic marketing of proprietary products of its Japanese parent -Sumitomo Chemical Company Limited in agrochemicals, animal nutrition & environmental health business segments. On the consolidated quarterly front, the company recorded net sales of Rs 707.18 crore for Q3FY22, an increase of 26.08 per cent from its net sales of Rs 560.91 crore reported for Q3FY21. The operating profit improved 58.94 per cent to Rs 132.66 crore in Q3FY22 from Rs 83.47 crore recorded in Q3FY21. The net profit was recorded at Rs 88.93 crore in Q3FY22 from Rs 54.15 crore in Q3FY21, showing a robust increase of 64.23 per cent. Business plans for FY2022 to FY2024 include Sumitomo Chemical being committed to devoting all its capabilities as a diversified chemical company to helping resolve major social issues along with transforming its business portfolio to advance green transformation (GX). Hence, we recommend BUY.