Buy Sumitomo Chemical India, target price Rs 590: Axis Securities

Axis Securities has buy call on Sumitomo Chemical India with a target price of Rs 590. The current market price of Sumitomo Chemical India is Rs 518.75. Time period given by analyst is 3 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 26155.24 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-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 990.18 Crore, up 47.26 % from last quarter Total Income of Rs 672.42 Crore and up 25.75 % from last year same quarter Total Income of Rs 787.42 Crore. Company reported net profit after tax of Rs 138.13 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.9 per cent, DIIs 6.69 per cent.