Sharda Cropchem (SHARDACROP) Q4 25/26 earnings summary

Executive summary

• Achieved record annual PAT of ₹681 crore, highest ever EBITDA, and strongest revenue performance in FY 2026, driven by robust agrochemical and non-agrochemical segments, despite global headwinds.

• Maintained an asset-light business model focused on identification, registration, and distribution of generic molecules, enabling cost competitiveness and operational flexibility.

• Expanded global presence to 80+ countries, leveraging a wide distribution network and growing sales force, especially in Europe and LATAM.

• Audited consolidated and standalone financial results for FY 2026 were approved with no audit qualifications or reservations.

• Total product registrations reached 3,011 as of March 31, 2026, with 1,004 applications in the pipeline.

Financial highlights

• FY 2026 revenue rose 22% year-on-year to ₹5,268 crore, with Q4 revenue up 13% to ₹2,065 crore.

• Gross margin improved to 35.9% (+600 bps YoY); Q4 gross margin at 37.3%.

• EBITDA increased 69% to ₹1,040 crore (margin 19.7%); Q4 EBITDA up 75% to ₹513 crore (margin 24.8%).

• PAT surged 124% to ₹681 crore; Q4 PAT up 57% to ₹319 crore.

• Earnings per share for FY 2026 stood at ₹75.47, up from ₹33.74 in FY 2025.

Outlook and guidance

• FY 2027 revenue expected to grow 10%-15%, with gross margins around 35% and EBITDA margin 18%-20%.

• Effective tax rate projected at 18%-20% for FY 2027 and FY 2028.

• Volume growth for FY 2027 projected at around 15%; non-agrochemical segment expected to grow 5%-10%.

• Continued focus on expanding product registrations, operational efficiencies, and deeper market penetration.

• Agrochemicals segment is seasonal, with performance influenced by cropping patterns and global weather conditions.