Buy Sumitomo Chemical India, target price Rs 530: Anand Rathi

Anand Rathi has buy call on Sumitomo Chemical India with a target price of Rs 530. The current market price of Sumitomo Chemical India is Rs 482.75.

Sumitomo Chemical India Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 24435.68 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 31-03-2024, the company reported a Consolidated Total Income of Rs 700.91 Crore, up 23.21 % from last quarter Total Income of Rs 568.89 Crore and up 4.92 % from last year same quarter Total Income of Rs 668.06 Crore. Company reported net profit after tax of Rs 109.90 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 31-Mar-2024, while FIIs owned 2.74 per cent, DIIs 6.62 per cent.