Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1 Sep
Source: Bse
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.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result29 Jul, 07:51 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Chemicals P/E 33.1 (n=45)
Technical timing lens
Trend score and candlestick chart
33Bearishfull bear SMA stack · SMA20 -5.4% / mo · MACD + · near 52W low · sector -4.2pp vs Nifty 500 (3M)
Stock trend: 24
Sector RS: 46
Sector 3M: -9.8% vs Nifty 500 -5.6%
Chemicals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SHARDACROPD candles · FIT view-36.9%Latest close ₹699.80 on 2026-10-19
Bar
-3.1%
RSI
33
MACD hist
0.38
52W pos
0%
2026-10-19O ₹722.00H ₹728.00L ₹696.95C ₹699.80Vol 1.4L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SHARDACROPNifty ChemicalsNifty 500
- SHARDACROP
- -21.0%
- Nifty 500
- -5.6%
- Nifty Chemicals
- -8.5%
- Vs Nifty 500
- -15.4 pp
Chart stats
19 Oct 2026- From 52W high
- -46.0%
- 52W range position
- 0%
- ATR (14)
- 2.7%
- Volume vs 20D
- 1.75x
- Avg traded value
- ₹6 Cr
- 20D price channel
- ₹697 - ₹765.7
₹1,297
₹697 - ₹1,297
₹18.7
Latest completed session
20-session average
25.8% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE93
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +9.0% · PAT -38.5% YoY
Technical
Bearish33
Price trend and sector-relative-strength timing.
Valuation
Legacy model+77.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence84
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -38% YoY · margin compression · Rev +9% YoY
Filed 29 Jul 2026
Open results browser →| 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.
Fundamentals
Valuation
- P/E
- 10.40
- P/B
- 2.08
- EV/EBITDA
- 4.69
- Market Cap
- 6544.00Cr
Profitability
- ROE
- 23.20%
- ROCE
- 30.20%
- ROA
- 10.87%
- Dividend Y
- 2.07%
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
- 3.97
- Book Value
- 348.00
Cash Flow
- FCF Yield
- 3.22%
- FCF Positive Y
- 9/5
- OCF
- 656.00 Cr
- EPS TTM
- 69.41
Shareholding
- Promoter Hold
- 74.82%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 5%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 4,774+3.1% vs prev
Net Profit
₹ CrLatest: 677+147.1% vs prev
Return on Equity
%Latest: 752+147.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 33.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~5.7% over last month) — short-term momentum negative.
- RSI(14) at 33 — falling, 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.
Nifty 500 leadership
Relative Strength & Trend Stage
15
RS percentile
Stage 4 Downtrend
1M return
-5.8%
3M return
-21.0%
6M return
-39.6%
1Y return
-26.6%
RS 1D
-4
RS 20D
-13
Sector rank
#14
Industry rank
#44
Stage evidence
- Price is 21.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -5.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
weakening
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 87.26-2.51%
RS vs Nifty 50087
Valuation & peers
U-Score 93 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 93 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation25/30
Growth21/25
Quality20/20
Balance Sheet13/15
Cash Flow8/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
93
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
93/100 · legacy band DEEP VALUE
Positive drivers
- FCF yield is supportive at 3.2%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 77.6%.
Main drags
- Cash flow is weaker at 8/10; verify the latest quarterly trend.
- Valuation is weaker at 25/30; verify the latest quarterly trend.
- Growth is weaker at 21/25; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
10.4
PB
2.1
EV/EBITDA
4.7
ROE
23.2%
ROCE
30.2%
FCF Yield
3.2%
Debt/Equity
0.0
MoS
+77.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
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.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
93
Previous: 93
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+77.6%
Previous: +77.6%
Score history
12 stored score snapshots. Latest stored move: +2 points.
20 Oct 2026
v4.3-runtime-valuation
91
91
91
91
91
91
91
91
91
91
91
93
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹737.21
+5.1% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹3,123.45
+77.6% MoS
PEG
0.42
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
NEOGEN
Micro
Neogen Chemicals Limited
Fertilizers & Agrochemicals
match 163
9
216.0
3.6%
-2868%
OVERVALUED
SUDARSCHEM
Micro
Sudarshan Chemical Industries Limited
Fertilizers & Agrochemicals
match 162
24
89.6
0.5%
-8507%
OVERVALUED
PRIVISCL
Micro
Privi Speciality Chemicals Limited
Fertilizers & Agrochemicals
match 159
66
38.0
26.0%
+18%
UNDERVALUED
KANSAINER
Micro
Kansai Nerolac Paints Limited
Fertilizers & Agrochemicals
match 155
38
22.5
8.8%
-176%
WATCHLIST
PCBL
Large
PCBL Chemical Limited
Fertilizers & Agrochemicals
match 152
28
45.0
5.6%
-906%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-11T07:11:52.342Z
Management commentary snapshot
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.
Current business mix
FY26 Agrochemical Revenue by Product
Latest issuer-disclosed distribution across 3 reported categories.
Herbicides51.0%
Insecticides21.0%
Fungicides28.0%
Growth engines
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.
Capacity and execution
Capex Incurred
CAPEX incurred in FY26 was Rs. 505 Cr.
Tailwinds
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
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.
Sector KPIs management disclosed
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).
Management forward view
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.
Thesis monitor
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.
Trust Score
84Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: 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.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
90 docs text-extracted · 8 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
97th percentile
overall median 67 · Chemicals: 96th pctile, median 73 · Micro: 95th pctile, median 73
Evidence depth
Financial-only
90 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read 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.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
72
acceptable · quarterly consistency
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.
Continue researching Sharda Cropchem Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Annual reportAug 2026
Aug 2026 · Reg. 34 (1) Annual Report. 14 Jul - Annual report filed; 23rd AGM on 14 Aug 2026, record date 7 Aug, final dividend Rs 9 proposed.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Aug - Newspaper Advertisement in relation to transfer of dividend and equity shares of the company to IEPF Authority.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1d - Company has scheduled a Conference call for analyst and investors on Thursday, 30th July, 2026 at 03.30 P.M. IST.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Jul - Newspaper Advertisement - 23rd Annual General Meeting of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Jul - Intimation of Annual General Meeting and Book Closure date.
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.