Sharda Cropchem Limited (SHARDACROP)
Micro CapChemicals stocks · Micro cap · NSE
Sharda Cropchem is an IP-driven global agrochemicals company marketing a wide range of formulations and generic active ingredients. It operates an asset-light model, outsourcing manufacturing, and focuses on registrations, marketing, and distribution across 80+ countries. The company has 3,011 registrations and 1,004 pending applications globally.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Strong fundamentals, management trust is supportive, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Bad · 0/100PAT -38% YoY · margin compression · Rev +9% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,074 Cr | +9.0% | -48.0% |
| EBITDA | ₹186 Cr | -13.5% | -61.8% |
| Operating margin | 17.0% | -500 bps | -700 bps |
| PAT | ₹88 Cr | -38.5% | -72.4% |
| PAT margin | 8.2% | -633 bps | -726 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Sharda Cropchem reported strong FY26 performance with consolidated revenue up 22% YoY to Rs. 5,268 Cr, driven by 13% volume growth. EBITDA surged 69% to Rs. 1,040 Cr, with margins expanding to 19.7%. PAT more than doubled to Rs. 681 Cr, up 124% YoY.
The company delivered robust financial results for Q4 and FY26, marked by significant revenue growth, substantial margin expansion, and improved working capital efficiency. Volume growth across key regions and a favorable product mix contributed to the strong performance, reinforcing the asset-light, IP-driven business model.
FY26 Agrochemical Revenue by Product
Latest issuer-disclosed distribution across 3 reported categories.
Forward Integration
Company plans to build its sales force and adopt a 'factory-to-farmer' approach to become a one-stop solution provider in NAFTA, Europe, LATAM, and RoW.
Expand & Strengthen Distribution
Strategy includes further penetrating existing markets and entering new markets by leveraging its existing library of dossiers.
Continual Investment in Product Registrations
Company will continue to identify generic molecules going off patent and invest in preparing dossiers and seeking registrations in its own name.
Capex Incurred
CAPEX incurred in FY26 was Rs. 505 Cr.
Growing Global Population
Global population is projected to rise from 7.6 Bn in 2025 to 8.6 Bn by 2030, increasing pressure on food systems.
Growing Middle Class
A growing middle class fuels demand for increased food and protein production, driving demand for grain.
Decreasing Arable Land
Fewer arable acres per capita means products need to maximize farmer yields; arable land is expected to decrease to less than one-third of an acre per person by 2050.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Both Q4 and full-year (FY26) results are presented YoY, which is appropriate for assessing performance in a potentially seasonal agrochemical business and for evaluating long-term trends and operational improvements.
Total Revenues
Q4 FY26 Total Revenues increased by 13% YoY to Rs. 2,065 Cr. FY26 Total Revenues increased by 22% YoY to Rs. 5,268 Cr.
Agrochemical Segment Volume Growth
Agrochemical volumes grew by 4.5% in Q4 FY26 and 13.3% in FY26.
Gross Margin
Gross Margins improved by 750 basis points to 37.3% in Q4 FY26 and by 600 basis points to 35.9% in FY26. Management expects these margins to remain at these levels in FY27.
EBITDA Margin
EBITDA Margin expanded to 24.8% in Q4 FY26 (from 16.0% in Q4 FY25) and to 19.7% in FY26 (from 14.2% in FY25).
Gross Margin Outlook
Management expects Gross Margins to remain at FY26 levels (35.9%) in FY27.
Focus on Operational Efficiencies
Management is focused on accelerated revenue-generating investments, margin improvements, better cost management, and eliminating non-value-added activities.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Gross Margin | 35.9% (FY26) | Sustaining or improving gross margins in FY27, as guided by management. |
| Working Capital Days | 98 days (Mar-26) | Continued efficiency in working capital management, particularly receivable days. |
| Agrochemical Volume Growth | 13.3% (FY26) | Maintaining volume growth momentum across regions, especially Europe and LATAM. |
| Product Registrations Pipeline | 1,004 applications pending | Successful conversion of pending applications into new registrations to support future growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
37Bearishfull bear SMA stack · SMA20 -9.4% / mo · MACD + · near 52W low
Technical chart
SHARDACROPdaily · 1Y · AUTO-28.0%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 39.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~10.4% over last month) — short-term momentum negative.
- RSI(14) at 39 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 90 · DEEP VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 90 · DEEP VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
DEEP VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- FCF yield is supportive at 3.0%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 75.4%.
Main drags
- Valuation is weaker at 22/30; verify the latest quarterly trend.
- Cash flow is weaker at 8/10; verify the latest quarterly trend.
- Growth is weaker at 21/25; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 97th percentile of the scored universe and 96th percentile within Chemicals. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 74.8%. Key concern: 1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Chemicals: 96th pctile, median 73 · Micro: 95th pctile, median 73
90 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 74.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 3%.
- ▸9 years of positive FCF.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 11.10
- P/B
- 2.21
- EV/EBITDA
- 4.97
- Market Cap
- 6932.00Cr
Profitability
- ROE
- 23.20%
- ROCE
- 30.20%
- ROA
- 10.87%
- Dividend Y
- 1.95%
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 24.00%
- Revenue 3Y
- 9.00%
- EPS 3Y
- 26.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 349.00×
- Altman Z
- 4.05
- Book Value
- 348.00
Cash Flow
- FCF Yield
- 3.04%
- FCF Positive Y
- 9/5
- OCF
- 656.00 Cr
- EPS TTM
- 69.41
Shareholding
- Promoter Hold
- 74.82%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 2%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Chemicals, ranked by similarity
Peers
Business-comparable names in Chemicals, ranked by similarity
Peers
Business-comparable peers in Chemicals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.