Buy Sumitomo Chemical India, target price Rs 438: HDFC Securities

HDFC Securities has buy call on Sumitomo Chemical India with a target price of Rs 438. The current market price of Sumitomo Chemical India is Rs 419.4.

Time period given by analyst is 2 weeks when Sumitomo Chemical India Ltd. price can reach defined target.

Sumitomo Chemical India Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 20914.21 Crore) operating in Pesticides/Agro Chemicals sector.


Sumitomo Chemical India Ltd. key Products/Revenue Segments include Agrochemicals, Export Incentives, Other Operating Revenue, Commission and Sale of services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 787.42 Crore, up 46.10 % from last quarter Total Income of Rs 538.95 Crore and up 21.14 % from last year same quarter Total Income of Rs 650.02 Crore. Company reported net profit after tax of Rs 105.75 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 80.30 per cent stake in the company as of March 31, 2020, DIIs 4.53 and public and others 15.05 per cent.