Q2 revenue and margins fall; H2 outlook remains challenging
SUMICHEM · price
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On the reaction day the stock moved 6.4 pts less than Nifty Smallcap 250 and 5.5 pts less than its Pesticides & Agrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 revenue fell 2% year on year to Rs 907.3 crore. Operating profit before depreciation, interest and tax fell 15% to Rs 185.8 crore, while profit after tax fell 11% to Rs 157.4 crore. Gross margin was 40.7%. Exports dropped 23%, but domestic sales rose 2%. H1 profit after tax rose 5%, aided by a Rs 26.9 crore insurance claim. Management expects H2 to stay challenging due to low reservoirs, El Nino and possible acreage constraints.
Near-term earnings and stock sentiment may stay weak due to soft demand, lower exports and margin pressure, though cost alignment offers some support.