Sharda Cropchem (SHARDACROP) Q3 25/26 earnings summary

Executive summary

• Achieved highest ever PAT for any year in nine months FY 2026, with strong volume growth and improved product mix, supported by accelerated product registrations.

• Expanded global presence with operations in 80+ countries and a robust distribution network.

• Maintained an asset-light business model, focusing on registrations, marketing, and distribution while outsourcing manufacturing.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved, with auditors issuing an unmodified review opinion.

• Interim dividend of Rs. 6.00 per equity share declared for FY 2025-26, with record date set for February 6, 2026.

Financial highlights

• Q3 FY 2026 revenue grew 39% year-over-year to INR 1,289 crore; agrochemical business up 48% to INR 1,141 crore, non-agrochemical up 8.1% to INR 148 crore.

• Gross margin expanded by 220 bps to 34.9% in Q3 FY 2026; EBITDA up 59% to INR 245.5 crore (margin 19.1%).

• PAT for Q3 FY 2026 at INR 145.1 crore, up 366% year-over-year; nine months PAT at INR 362 crore, up 259%.

• Earnings per share reached ₹16.09 in Q3 FY26 and ₹40.15 in 9M FY26.

• Interim dividend of INR 6 per share declared, payable by February 28, 2026.

Outlook and guidance

• Q4 FY 2026 expected to be the strongest quarter, with full-year revenue guidance of around INR 5,400 crore.

• Volume growth of 14-15% expected to continue in Q4 and FY 2027.

• Gross margin of 35% seen as sustainable for FY 2026 and FY 2027, with potential for further improvement.

• Revenue growth of 15-20% targeted for FY 2027.

• Focus on expanding sales force, operational efficiencies, and further market penetration.