Buy Sumitomo Chemical India, target price Rs 500: Anand Rathi

Anand Rathi has buy call on Sumitomo Chemical India with a target price of Rs 500. The current market price of Sumitomo Chemical India is Rs 408.65.
Sumitomo Chemical India Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 20167.98 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-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 928.05 Crore, up 25.11 % from last quarter Total Income of Rs 741.77 Crore and down -18.03 % from last year same quarter Total Income of Rs 1132.20 Crore. Company reported net profit after tax of Rs 143.45 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of 30-Sep-2023, while FIIs owned 2.58 per cent, DIIs 6.05 per cent.