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Revenue from operations declined due to weaker demand because of a drought season in Europe and adverse weather conditions in NAFTA and Lower product price realizations across all regions.
Profit before tax slumped by 91.56% to Rs 12.11 crore in Q3 FY24 as against Rs 143.43 crore in Q3 FY23.
EBITDA tumbled 76% to Rs 47.2 crore in Q3 FY24 from Rs 196.7 crore posted in Q3 FY23. EBITDA margin contracted to 7.5% as on 31 December 2023 as against 19.3% as on 31 December 2022.
In Q3 FY24, revenue from agrochemicals was at Rs 509.73 crore (down 39.46% YoY) while non agri-chemicals stood at Rs 122.72 crore (down 30.02% YoY).
Sharda Cropchem is a global crop protection chemical company largely operating across Europe, NAFTA and Latin America across fungicides, herbicides and insecticides.
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