Sharda Cropchem Ltd
SHARDACROPSharda Cropchem Ltd is cheap for a reason. The P/E sits at the 4th percentile of its own range, and the quarters are still getting worse.
The sharpest disagreement: annual EPS moved +123.7% against a −17.8% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (5 weeks in) while the P/E sits at the 4th percentile of its own 11-year range. Underneath, the last four quarters read deteriorating — profit −38.5% year on year, and 157% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Sharda Cropchem Ltd trades at ₹786, in a downtrend and 5 weeks into that stage. That is −14.0% against its own 200-day average. It sits at 3% of a 52-week range of ₹772 to ₹1,256. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (20 weeks and counting).
Today the stock is in a downtrend — week 5 of stage 4, confirmed. At ₹786 it trades −14.0% versus its 200-day average and sits at 3% of its 52-week range (₹772–₹1,256).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +278% while the NIFTY 500 moved +284% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (20 weeks and counting; last ahead the week of 2026-04-30) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Sharda Cropchem Ltd's story is not scored yet against the markers our research file set on 17 May 2026. Where it sits in its own cycle: POST_PEAK_EARNINGS. Still open: FY27 revenue guided 10-15% vs FY26 actuals of 22% and prior guidance of 15-20% — unexplained deceleration creates valuation uncertainty and sets up a re-rating cliff if FY27 misses.
Our read, 17 May 2026. Best-ever year in company history followed by a cautious guide-down — the margin story is real, but guidance credibility has a fresh crack.
From the numbers. PE of 17.1x is exactly at the 10Y median of 17.0x, after having peaked at 36.6x in Mar 2024. The compression (-53%) is entirely earnings-driven: EPS tripled as earnings recovered from FY24 trough (Rs 3.53 EPS) to FY26…
From the price. Price stage 4, week 5 — below its 200-day line, relative strength falling.
From the research. Best-ever year in company history followed by a cautious guide-down — the margin story is real, but guidance credibility has a fresh crack.
🚨 Where they disagree. PE of 17.1x is exactly at the 10Y median of 17.0x, after having peaked at 36.6x in Mar 2024. The compression (-53%) is entirely earnings-driven: EPS tripled as earnings recovered from FY24 trough (Rs 3.53 EPS) to FY26 record (~Rs 75 EPS annualized). The stock is not cheap — buying at median PE on record earnings implies investor must believe FY27+ will show this is a new structural floor, not a cyclical peak. The yoy_trend is CONTRACTING (PE declining) with qoq_momentum IMPROVING — mixed signal.
What is proven. Best-ever year in company history followed by a cautious guide-down — the margin story is real, but guidance credibility has a fresh crack.
What is not proven yet. FY27 revenue guided 10-15% vs FY26 actuals of 22% and prior guidance of 15-20% — unexplained deceleration creates valuation uncertainty and sets up a re-rating cliff if FY27 misses.
The test written in advance. FY27 Revenue Guidance Step-Down Without Explanation — FY27 Revenue Guidance Step-Down Without Explanation Q1 FY27 revenue print vs 10-15% annualized pace by the next result.
The test written in advance. EUR/USD Reversal Compresses Reported Margins — EUR/USD Reversal Compresses Reported Margins EUR/USD rate + Q1 FY27 reported gross margin vs 35% band by the next result.
The test written in advance. NAFTA Structural Weakness vs Weather Narrative — NAFTA Structural Weakness vs Weather Narrative Q1 FY27 NAFTA revenue trend + management tone by the next result.
What the company does. FY26 delivered best-ever revenue (Rs 5,268 Cr, +22% YoY), EBITDA (Rs 1,040 Cr, 19.7% margin, +69% YoY), and PAT (Rs 681 Cr, +124% YoY) — a historic milestone off a deeply depressed FY24 base. The 3,011-registration moat + 1,400-application pipeline + 80-90% raw material pass-through pricing power underpin structural margin sustainability at 35% gross / 18-20% EBITDA for FY27. Management guided FY27 revenue only 10-15% (down from 15-20% Q3 commentary and well below FY26 actuals of 22%) without adequate explanation — creates material ambiguity and a guidance credibility watch.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Registration Moat + Pipeline Execution | HIGH | — | 3,011 total registrations + 1,400 pipeline applications — the moat expands every quarter as approvals convert, enabling volume… | Q1 FY27 revenue print vs 10-15% annualized pace |
| Europe Volume Growth + EUR/USD Tailwind | HIGH | — | Europe drove FY26 agrochemical segment to +25% revenue with 16% volume growth and 42.5% gross margin — the single most important… | Q1 FY27 revenue print vs 10-15% annualized pace |
| Pricing Power + Raw Material Pass-Through | HIGH | — | 80-90% raw material pass-through capability due to limited competition from registration barriers — structural margin protection… | Q1 FY27 revenue print vs 10-15% annualized pace |
| Global Market Recovery + Inventory… | MEDIUM_HIGH | — | Post-COVID inventory destocking fully normalized; global agrochemical demand revival after 18-24 months of channel correction… | Q1 FY27 revenue print vs 10-15% annualized pace |
| Working Capital Efficiency | MEDIUM | — | Working capital improved from 118 days (FY25 high) to 98 days (FY26 end) — 20-day release of capital improves FCF conversion and… | Q1 FY27 revenue print vs 10-15% annualized pace |
| Non-Agrochemical Conveyor Belt Stability… | LOW_MEDIUM | — | Rs 551 Cr segment (+1% FY26) with made-to-order model provides revenue stability and improving margins, but not a growth driver… | Q1 FY27 revenue print vs 10-15% annualized pace |
Lever 2 · Value-added mix — BUILDING. 3,011 total registrations + 1,400 pipeline applications — the moat expands every quarter as approvals convert, enabling volume growth in new molecules and markets. What proves it keeps working: Registration Moat + Pipeline Execution. It stops working if Q1 FY27 revenue print vs 10-15% annualized pace.
Lever 10 · New geographies — BUILDING. Europe drove FY26 agrochemical segment to +25% revenue with 16% volume growth and 42.5% gross margin — the single most important profit driver in the portfolio. What proves it keeps working: Europe Volume Growth + EUR/USD Tailwind. It stops working if Q1 FY27 revenue print vs 10-15% annualized pace.
Lever 1 · Operating leverage — BUILDING. 80-90% raw material pass-through capability due to limited competition from registration barriers — structural margin protection that separates Sharda from commodity agchem players. What proves it keeps working: Pricing Power + Raw Material Pass-Through. It stops working if Q1 FY27 revenue print vs 10-15% annualized pace.
Lever 14 · A bigger market to sell into — BUILDING. Post-COVID inventory destocking fully normalized; global agrochemical demand revival after 18-24 months of channel correction — provides volume floor across all regions. What proves it keeps working: Global Market Recovery + Inventory Normalization. It stops working if Q1 FY27 revenue print vs 10-15% annualized pace.
Sources: our stock research file (17 May 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Sharda Cropchem Ltd reported ₹1,074 Cr of revenue in the Jun 26 quarter, +9.0% year on year. That is the 9th straight quarter of year-on-year growth. Over 10 years it has compounded at 15.7% a year. The last full year, FY26, came in at ₹5,268 Cr. The last four reported quarters add to ₹5,357 Cr.
Why this happened. Europe accounts for ~45% of agrochemical sales and holds the highest regional margin (42.5% gross margin in FY26 vs NAFTA 28%, LATAM 29%, Rest of World 37%). FY26 Europe volume grew ~16%. The EUR-USD cross-currency benefit added 10-11% to revenue growth — EUR was 1.04-1.03 vs USD a year ago vs 1.17 in FY26. Management guided similar Europe volume growth in FY27. NAFTA declined 6% in Q4 due to weather/US economic conditions — cited as non-structural.
FY26 revenue came in at ₹5,268 Cr (+21.9% on the year), capping 10 years at 15.7% compound. The latest quarter (Jun 26) printed ₹1,074 Cr, +9.0% year on year — the 9th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +20.1% growth against the decade's 15.7% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +18.5% over the last 4 quarters against +27.2%/yr over the last 8 — rolling over; TTM profit +49.0% vs +106.4%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Sharda Cropchem Ltd's operating margin is 17.0% in the Jun 26 quarter, −5.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0% to 23.0%. The current quarter sits inside that band.
Why this happened. Sharda's registration portfolio is the central competitive asset. As of March 31, 2026, the company holds 3,011 product registrations across 70-75 countries (up from 2,994 as of Sep 2025 and 3,004 as of Dec 2025). The pipeline of 1,400 applications globally is the forward conversion funnel. Each registration approved creates a new revenue channel with pricing power from limited competition. Europe holds 1,675 of the total (56% of registrations) with the highest gross margin at 42.5% in FY26. Management noted registrations process is highly uncertain (1-7 years) and FY27 growth does not solely depend on new molecule volumes.
The latest quarter's operating margin is 17.0%, −5.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0%–23.0%.
🚨 Why the margin moved: operating margin went −4.5 pp year on year while gross margin went +1.2 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Sharda Cropchem Ltd earned ₹88.0 Cr of net profit in the Jun 26 quarter, −38.5% year on year. Full-year FY26 profit was ₹681 Cr. The 10-year compound rate is 14.6%. That is 8.2% of the quarter's revenue. The same quarter a year earlier earned ₹143 Cr. 1 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹88.0 Cr, −38.5% year on year. On the full year, FY26 printed ₹681 Cr (+124.0%), and the 10-year compound rate is 14.6%.
🚨 Why profit moved: revenue contributed +9.0% and the margin −5.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +115.4% vs revenue +20.1%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 157% of Sharda Cropchem Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹656 Cr of operating cash against ₹681 Cr of profit. After ₹520 Cr of capital spending, ₹136 Cr was left as free cash.
FY26: operating cash of ₹656 Cr against reported profit of ₹681 Cr, leaving free cash of ₹136 Cr after ₹520 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 157% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 157%: the cash cycle stretched 11 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Sharda Cropchem Ltd's cash conversion cycle runs 125 days in FY26, up from 114 days in FY21. Capital spending ran ₹1,231 Cr over the last 3 years. At FY26 sales of ₹5,268 Cr each day of that cycle holds about ₹14.4 Cr, so roughly ₹1,804 Cr sits inside the business at any moment.
FY26: debtors at 166 days, inventory at 121 days — roughly 4.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 125 days, looser than FY21's 114.
The full loop: cash goes out to suppliers and production on day 0; stock waits 121 days to sell; customers pay about 166 days after that; and suppliers themselves are paid at 162 days — netting out to the 125-day cycle.
In money terms: at FY26 sales of ₹5,268 Cr, each day of the cycle holds about ₹14.4 Cr — so the 125-day loop keeps roughly ₹1,804 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹1,231 Cr over the last 3 fiscal years against ₹867 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹247 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Sharda Cropchem Ltd earns a ROCE of 30% in FY26. That is up from a trough of 4% in FY24. Return on invested capital clears the cost of that capital by +10.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 12.9% net margin on 0.92× asset turns.
FY26 ROCE is 30%, recovered from a FY24 trough of 4% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 12.9% net margin × 0.92× asset turns × 1.84× balance-sheet leverage ≈ 21.8% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 22.0% − 12.0% = a +10.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Sharda Cropchem Ltd carries total debt of ₹3.0 Cr against shareholder equity of ₹3,137 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹3.0 Cr against shareholder equity of ₹3,137 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions cut 3.7 points of Sharda Cropchem Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 9.2% of the company. Foreign institutions moved +1.1 points over the same window, to 3.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: −3.7 points over 8 quarters to 9.2%; Foreign institutions: +1.1 points over 8 quarters to 3.1%; Promoters: +0.0 points over 8 quarters to 74.8%.
🚨 Why the register moved: domestic institutions drove it (−3.7 points), absorbed on the other side by foreign institutions (+1.1 points) — distribution into the market’s bid.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Sharda Cropchem Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Sharda Cropchem Ltd trades at 11.3× P/E, near the bottom of its own range — cheaper only 4% of the time. Its long-run median P/E is 17.1×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 11.3× is near the bottom of its own range — cheaper only 4% of the time, against a long-run median of 17.1× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +123.7% against a −17.8% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +19.8%/yr price move, ~+21.2%/yr came from earnings growth and ~−1.4 pp from the multiple (compressing); over 10y, of the +8.1%/yr price move, ~+13.3%/yr came from earnings growth and ~−5.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Sharda Cropchem Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +185.7% at its peak to +49.0% but is still expanding, ROCE lifting at 30.0%. The read is built from 12 quarters across 4 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +21.9% | +9.2% | +17.1% | +15.7% |
| Profit | +124.0% | +25.8% | +24.4% | +14.6% |
| EPS | +123.7% | +25.8% | +24.3% | +14.5% |
| Share price | −17.8% | +23.2% | +19.8% | +8.1% |
4-Factor Sector Score
64.7/100 — rank 3 of 24 in Pesticides/Agrochemicals · 97% evidence confidence
Sharda Cropchem Ltd scores 64.7 out of 100 against the 24 companies it is compared with in Pesticides/Agrochemicals, ranking 3. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -15.4% and the one-year return is -20.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
The four contributions add to the total exactly: 23.9 + 19.3 + 18.7 + 2.8 = 64.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Sharda Cropchem Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
🚨 FY26 EBITDA Margin Delivery Materially Exceeded Both Prior Guidance Ranges Without Explanation · 14 May 2026. Both prior calls consistently guided FY26 EBITDA margins at 15% to 18%, with the Oct 2025 call affirming management was on track for this range even after H1 FY26 delivered only 14.7% EBITDA margins. The Latest Call (May 2026) reports actual FY26 EBITDA margins of 19.7% - approximately 170 basis points above the top of the guided range - with Q4 FY26 alone reaching 24.8%. No explanation is offered for this material outperformance relative to guidance maintained consistently through two consecutive calls, and FY27 EBITDA guidance is now set at 18-20%, which remains below both the FY26 actual of 19.7% and the recent Q4 run rate of 24.8%, raising questions about guidance credibility.
🚨 FY27 Revenue Growth Guidance Step-Down Unexplained Against Stated Momentum and Prior Guidance Precedent · 14 May 2026. In May 2025, management guided FY26 top-line growth at more than 15%, which FY26 then significantly exceeded with actual growth of 22%. Despite this, the Latest Call (May 2026) simultaneously states that growth momentum is expected to continue in FY27 while guiding FY27 revenue growth at only 10-15% in Q&A - materially below FY26 actuals of 22% and below the FY26 prior guidance floor of more than 15%. No explanation is offered for why growth would decelerate to below the prior year guidance level, creating material ambiguity for analysts modeling FY27 earnings.
Contradictory Assessment of NAFTA Demand · 30 January 2026. During the October 2025 call (held October 31st), management explicitly stated there was no decline in demand for the NAFTA region during the month of October. However, in the January 2026 call, they reported a revenue decline for the NAFTA region for the full third quarter (which includes October), attributing it to adverse climate conditions that ostensibly would have been visible during the quarter. Earlier call (Oct 2025): “There is no decline in the demand in the month of October.” Later call (Jan 2026): “The NAFTA region witnessed a decline year-on-year this quarter... It appears to be driven by unpredictable and unusual climate conditions that affected demand.”
Material Shift in EBITDA Margin Guidance · 30 January 2026. In both the May and October 2025 calls, management consistently guided for FY26 EBITDA margins to be in the 15-18% range. In the latest call, they materially raised this guidance band to 18-20% without citing new drivers beyond the previously mentioned input cost stabilization, effectively altering the profitability model while describing it as 'maintaining' margins. Earlier call (Oct 2025): “For FY”. Later call (Jan 2026): “For FY26, we are on track to maintain healthy EBITDA margins in the range of 18-20%.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Bayer CropScience LtdBAYERCROP | 70.7/100Favorable setup91% evidence | BASING | 22.5/35 Revenue -2.8% · PAT 23.8% · OPM change 2 pp 95% evidence | 20.8/25 ROCE 29.1% · OPM 20% 95% evidence | 14.7/20 P/E 24.8× · PEG 1.28 100% evidence | 12.7/20 RS sector 9.4% · RS bench -14% · 1Y -27.4%0 of 10 weeks ahead 70% evidence |
| Exact sum: 22.5 + 20.8 + 14.7 + 12.7 = 70.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Titan Biotech Ltd524717 | 69.3/100Favorable setup82% evidence | ASLEEP | 29.3/35 Revenue 31.8% · PAT 38.7% · OPM change 2 pp 95% evidence | 20.1/25 ROCE 22.8% · OPM 21% 76% evidence | 5.9/20 P/E 50.1× · PEG — 50% evidence | 14.0/20 RS sector 32.7% · RS bench 31% · 1Y 364.7%3 of 12 weeks ahead 100% evidence |
| Exact sum: 29.3 + 20.1 + 5.9 + 14 = 69.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Sharda Cropchem Ltdthis pageSHARDACROP | 64.7/100Mixed-positive evidence97% evidence | ASLEEP | 23.9/35 Revenue 18.5% · PAT 49% · OPM change -5 pp 95% evidence | 19.3/25 ROCE 30.2% · OPM 17% 95% evidence | 18.7/20 P/E 11.3× · PEG 0.26 100% evidence | 2.8/20 RS sector -15.4% · RS bench -17% · 1Y -20.6%0 of 12 weeks ahead 100% evidence |
| Exact sum: 23.9 + 19.3 + 18.7 + 2.8 = 64.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -15.4% and the one-year return is -20.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 4Punjab Chemicals & Crop Protection LtdPUNJABCHEM | 61.2/100Mixed-positive evidence81% evidence | FADING | 23.3/35 Revenue 8.2% · PAT 43.5% · OPM change 1 pp 95% evidence | 18.1/25 ROCE 18.6% · OPM 12% 95% evidence | 11.6/20 P/E 20× · PEG — 50% evidence | 8.2/20 RS sector -6.2% · RS bench -6.7% · 1Y -15.4%1 of 10 weeks ahead 70% evidence |
| Exact sum: 23.3 + 18.1 + 11.6 + 8.2 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Dharmaj Crop Guard LtdDHARMAJ | 60.7/100Mixed-positive evidence74% evidence | BASING | 20.7/35 Revenue 8.5% · PAT 13.2% · OPM change 1 pp 95% evidence | 15.2/25 ROCE 16.4% · OPM 15% 95% evidence | 10.9/20 P/E 15.2× · PEG — 15% evidence | 13.9/20 RS sector 5% · RS bench -1.3% · 1Y -17.1%2 of 10 weeks ahead 70% evidence |
| Exact sum: 20.7 + 15.2 + 10.9 + 13.9 = 60.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Advance Agrolife LtdADVANCE | 57.2/100Mixed-positive evidence60% evidence | TURNING | 21.5/35 Revenue 48.4% · PAT 81.5% · OPM change 1 pp 95% evidence | 14.9/25 ROCE 19.3% · OPM 11% 95% evidence | 10.8/20 P/E 15.6× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —4 of 10 weeks ahead 0% evidence |
| Exact sum: 21.5 + 14.9 + 10.8 + 10 = 57.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Bhagiradha Chemicals & Industries LtdBHAGCHEM | 57.1/100Mixed-positive evidence100% evidence | TURNING | 29.1/35 Revenue 33.7% · PAT 100% · OPM change 9 pp 100% evidence | 7.0/25 ROCE 4.5% · OPM 16% 100% evidence | 1.6/20 P/E 137× · PEG 8.06 100% evidence | 19.4/20 RS sector 19.8% · RS bench 16.9% · 1Y 0.6%11 of 12 weeks ahead 100% evidence |
| Exact sum: 29.1 + 7 + 1.6 + 19.4 = 57.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8India Pesticides LtdIPL | 53.6/100Mixed-positive evidence81% evidence | ASLEEP | 20.0/35 Revenue 17% · PAT 10.1% · OPM change -2 pp 95% evidence | 13.7/25 ROCE 16.6% · OPM 14% 95% evidence | 14.1/20 P/E 15× · PEG — 50% evidence | 5.8/20 RS sector -11.9% · RS bench -18.6% · 1Y -38%3 of 11 weeks ahead 70% evidence |
| Exact sum: 20 + 13.7 + 14.1 + 5.8 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Jubilant Ingrevia LtdJUBLINGREA | 51.7/100Mixed-positive evidence93% evidence | FADING | 18.6/35 Revenue 11% · PAT 11.2% · OPM change 1 pp 100% evidence | 10.6/25 ROCE 11.4% · OPM 15% 100% evidence | 6.1/20 P/E 36.9× · PEG 2.41 65% evidence | 16.4/20 RS sector 9.8% · RS bench 7.3% · 1Y 5.2%4 of 12 weeks ahead 100% evidence |
| Exact sum: 18.6 + 10.6 + 6.1 + 16.4 = 51.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Rallis India LtdRALLIS | 50.5/100Mixed-positive evidence91% evidence | ASLEEP | 19.8/35 Revenue 4.4% · PAT 24.4% · OPM change 2 pp 95% evidence | 10.6/25 ROCE 14.1% · OPM 18% 95% evidence | 11.2/20 P/E 18.1× · PEG 2.15 100% evidence | 8.9/20 RS sector -1.8% · RS bench -21% · 1Y -40.6%0 of 10 weeks ahead 70% evidence |
| Exact sum: 19.8 + 10.6 + 11.2 + 8.9 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11GSP Crop Science LtdGSPCROP | 50.3/100Mixed-positive evidence63% evidence | BREAKING OUT | 18.1/35 Revenue 16.1% · PAT 36.1% · OPM change 0 pp 100% evidence | 12.8/25 ROCE 19% · OPM 11% 100% evidence | 9.4/20 P/E 26.5× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —5 of 5 weeks ahead 0% evidence |
| Exact sum: 18.1 + 12.8 + 9.4 + 10 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12NACL Industries LtdNACLIND | 47.6/100Mixed-negative evidence100% evidence | ASLEEP | 28.9/35 Revenue 11.9% · PAT 100% · OPM change 3 pp 100% evidence | 4.0/25 ROCE 8.1% · OPM 11% 100% evidence | 3.7/20 P/E 151× · PEG 2.02 100% evidence | 11.0/20 RS sector -4.1% · RS bench -6.8% · 1Y -39.1%10 of 12 weeks ahead 100% evidence |
| Exact sum: 28.9 + 4 + 3.7 + 11 = 47.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Sumitomo Chemical India LtdSUMICHEM | 45.7/100Mixed-negative evidence94% evidence | BREAKING OUT | 12.4/35 Revenue -3.6% · PAT 3.9% · OPM change 1 pp 100% evidence | 19.0/25 ROCE 22.1% · OPM 22% 100% evidence | 3.9/20 P/E 49.4× · PEG 4 100% evidence | 10.4/20 RS sector -8.2% · RS bench 17.2% · 1Y -2.1%9 of 10 weeks ahead 70% evidence |
| Exact sum: 12.4 + 19 + 3.9 + 10.4 = 45.7 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 14Bharat Rasayan LtdBHARATRAS | 45.2/100Mixed-negative evidence87% evidence | BASING | 10.5/35 Revenue -5.2% · PAT 3.6% · OPM change -3 pp 95% evidence | 14.6/25 ROCE 17.4% · OPM 15% 95% evidence | 14.3/20 P/E 14.8× · PEG — 50% evidence | 5.8/20 RS sector -29.9% · RS bench -32% · 1Y -50.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 10.5 + 14.6 + 14.3 + 5.8 = 45.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 15Meghmani Organics LtdMOL | 45.1/100Mixed-negative evidence74% evidence | TURNING | 20.8/35 Revenue -7.8% · PAT 100% · OPM change 7 pp 95% evidence | 7.8/25 ROCE 6.7% · OPM 18% 95% evidence | 9.5/20 P/E 25× · PEG — 15% evidence | 7.0/20 RS sector -33.7% · RS bench 2.7% · 1Y -26.3%4 of 10 weeks ahead 70% evidence |
| Exact sum: 20.8 + 7.8 + 9.5 + 7 = 45.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Excel Industries LtdEXCELINDUS | 42.9/100Mixed-negative evidence74% evidence | BASING | 12.0/35 Revenue 5.5% · PAT -20.4% · OPM change 0 pp 95% evidence | 10.3/25 ROCE 6.1% · OPM 14% 95% evidence | 10.4/20 P/E 17.8× · PEG — 15% evidence | 10.2/20 RS sector -4.6% · RS bench 0.4% · 1Y -13.4%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12 + 10.3 + 10.4 + 10.2 = 42.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Epigral LtdEPIGRAL | 42.0/100Mixed-negative evidence94% evidence | ASLEEP | 7.1/35 Revenue 4.8% · PAT -37.4% · OPM change -2 pp 100% evidence | 14.6/25 ROCE 15.5% · OPM 25% 100% evidence | 15.6/20 P/E 17.5× · PEG 0.43 100% evidence | 4.7/20 RS sector -32.9% · RS bench -15.3% · 1Y -40.2%5 of 10 weeks ahead 70% evidence |
| Exact sum: 7.1 + 14.6 + 15.6 + 4.7 = 42 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 18Dhanuka Agritech LtdDHANUKA | 41.5/100Mixed-negative evidence100% evidence | ASLEEP | 6.3/35 Revenue -5.6% · PAT -12.1% · OPM change -4 pp 100% evidence | 16.3/25 ROCE 23.8% · OPM 12% 100% evidence | 11.6/20 P/E 16.8× · PEG 1.72 100% evidence | 7.3/20 RS sector -13.6% · RS bench -16.1% · 1Y -36.9%3 of 12 weeks ahead 100% evidence |
| Exact sum: 6.3 + 16.3 + 11.6 + 7.3 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Astec Lifesciences LtdASTEC | 40.7/100Mixed-negative evidence69% evidence | ASLEEP | 23.7/35 Revenue 9.4% · PAT 47.7% · OPM change 11.2 pp 71% evidence | 3.3/25 ROCE -5.4% · OPM -0.8% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 3.7/20 RS sector -15.1% · RS bench -17.3% · 1Y -26.1%6 of 12 weeks ahead 100% evidence |
| Exact sum: 23.7 + 3.3 + 10 + 3.7 = 40.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -15.1% and the one-year return is -26.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 20UPL LtdUPL | 40.3/100Mixed-negative evidence91% evidence | ASLEEP | 16.9/35 Revenue 12.9% · PAT 98.4% · OPM change -2 pp 74% evidence | 8.3/25 ROCE 10.1% · OPM 13% 100% evidence | 12.5/20 P/E 24× · PEG 0.5 100% evidence | 2.6/20 RS sector -16.3% · RS bench -18% · 1Y -18.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 16.9 + 8.3 + 12.5 + 2.6 = 40.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Insecticides India LtdINSECTICID | 38.6/100Mixed-negative evidence87% evidence | ASLEEP | 10.4/35 Revenue 1.3% · PAT -16.7% · OPM change -1 pp 95% evidence | 11.0/25 ROCE 15.8% · OPM 11% 95% evidence | 11.3/20 P/E 14.7× · PEG — 50% evidence | 5.9/20 RS sector -7.6% · RS bench -9.9% · 1Y -35.2%5 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 11 + 11.3 + 5.9 = 38.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22P I Industries LtdPIIND | 36.9/100Mixed-negative evidence94% evidence | ASLEEP | 4.4/35 Revenue -16.6% · PAT -27.8% · OPM change -5 pp 100% evidence | 13.9/25 ROCE 15% · OPM 22% 100% evidence | 10.6/20 P/E 35× · PEG 1.71 100% evidence | 8.0/20 RS sector -3.4% · RS bench -22.6% · 1Y -36.5%0 of 10 weeks ahead 70% evidence |
| Exact sum: 4.4 + 13.9 + 10.6 + 8 = 36.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Best Agrolife LtdBESTAGRO | 34.7/100Adverse evidence87% evidence | TURNING | 7.7/35 Revenue -24.1% · PAT -56.5% · OPM change 8 pp 95% evidence | 9.2/25 ROCE 5.2% · OPM 20% 95% evidence | 7.0/20 P/E 22.6× · PEG — 50% evidence | 10.8/20 RS sector -5.3% · RS bench -7.7% · 1Y -37.1%3 of 12 weeks ahead 100% evidence |
| Exact sum: 7.7 + 9.2 + 7 + 10.8 = 34.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Heranba Industries LtdHERANBA | 26.1/100Adverse evidence65% evidence | ASLEEP | 12.0/35 Revenue 13.1% · PAT -80% · OPM change -2.7 pp 62% evidence | 1.2/25 ROCE -1.6% · OPM -7% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 2.9/20 RS sector -25.9% · RS bench -28.1% · 1Y -51.4%0 of 12 weeks ahead 100% evidence |
| Exact sum: 12 + 1.2 + 10 + 2.9 = 26.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Sharda Cropchem Ltd's share price today?
Sharda Cropchem Ltd trades at ₹786, −17.8% over the past year. The company is valued at ₹7,095 Cr. The stock sits at 3% of its 52-week range of ₹772–₹1,256, −14.0% versus its 200-day average. On the tape, the price is in a downtrend, 5 weeks in. — as of 14 August 2026.
What were Sharda Cropchem Ltd's latest quarterly results?
Sharda Cropchem Ltd reported revenue of ₹1,074 Cr and net profit of ₹88.0 Cr for the Jun 26 quarter. Revenue rose 9.0% and profit fell 38.5% year on year. Earnings per share were ₹9.76. The operating margin was 17.0%, 5.0 pp lower than a year earlier. — as of 14 August 2026.
What is Sharda Cropchem Ltd's revenue?
Sharda Cropchem Ltd reported revenue of ₹1,074 Cr in the Jun 26 quarter, +9.0% year on year. For the full FY26 fiscal year, revenue was ₹5,268 Cr (+21.9%). Over the last 10 years revenue compounded at 15.7% a year. — as of 14 August 2026.
What is Sharda Cropchem Ltd's profit?
Sharda Cropchem Ltd earned ₹88.0 Cr of net profit in the Jun 26 quarter, −38.5% year on year. Full-year FY26 profit was ₹681 Cr. The operating margin ran 17.0% in the latest quarter. — as of 14 August 2026.
What is Sharda Cropchem Ltd's market cap?
Sharda Cropchem Ltd's market capitalisation is ₹7,095 Cr at a share price of ₹786. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Sharda Cropchem Ltd's P/E ratio?
Sharda Cropchem Ltd trades at a P/E of 11.3×, at the 4th percentile of its own 11-year range, against a long-run median of 17.1×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Sharda Cropchem Ltd pay a dividend?
Yes — Sharda Cropchem Ltd's dividend payout was 20% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is Sharda Cropchem Ltd overvalued?
On its own history, Sharda Cropchem Ltd looks cheap: its P/E of 11.3× has been cheaper only 4% of the time in 11 years (long-run median 17.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
Is Sharda Cropchem Ltd growing?
Not right now — Sharda Cropchem Ltd's latest numbers are shrinking: latest-quarter revenue +9.0% year on year, profit −38.5%, and the margin −5.0 pp at 17.0%. The 10-year compound rates are 15.7% (revenue) and 14.6% (profit). The earnings engine currently reads: deteriorating — as of 14 August 2026.
How is Sharda Cropchem Ltd performing?
Sharda Cropchem Ltd is in a downtrend, 5 weeks in. Its latest quarter's revenue rose 9.0% and profit fell 38.5% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 20 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Sharda Cropchem Ltd in?
Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +185.7% at its peak to +49.0% but is still expanding, ROCE lifting at 30.0%. The read comes from the last 12 quarters of growth (revenue growth +18.5% latest, profit growth +49.0% latest, eps growth +49.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Sharda Cropchem Ltd in an uptrend?
No — the price is in a downtrend (week 5 of stage 4), trading −14.0% versus its 200-day average and at 3% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Sharda Cropchem Ltd beating the market?
Not lately — on a trailing-13-week view Sharda Cropchem Ltd is currently behind the NIFTY 500 (20 weeks and counting; last ahead the week of 2026-04-30), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +278% against the NIFTY 500's +284% — behind the index over the full window. — as of 14 August 2026.
Will Sharda Cropchem Ltd's share price go up?
This page publishes no price forecast for Sharda Cropchem Ltd. What it measures instead: the share price is ₹786, the price is in a downtrend 5 weeks in. Its P/E of 11.3× sits at the 4th percentile of its own 11-year range. — as of 14 August 2026.
Who owns Sharda Cropchem Ltd?
Promoters hold 74.8% of Sharda Cropchem Ltd, foreign institutions 3.1%, domestic institutions 9.2% and the public 12.9% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 3.7 points over 8 quarters. — as of 14 August 2026.
Does Sharda Cropchem Ltd have too much debt?
No — Sharda Cropchem Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill 50×. FY26 borrowings were ₹0.0 Cr against equity of ₹3,136 Cr. The returns on this page are earned, not borrowed — as of 14 August 2026.
What is Sharda Cropchem Ltd's capex?
Sharda Cropchem Ltd spent ₹1,231 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹520 Cr, with ₹247 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Sharda Cropchem Ltd's cash flow?
Sharda Cropchem Ltd generated ₹656 Cr of operating cash flow in FY26 and ₹136 Cr of free cash flow after ₹520 Cr of capital spending. Reported profit that year was ₹681 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Sharda Cropchem Ltd's profit real cash?
Yes — over the last 3 fiscal years, 157% of Sharda Cropchem Ltd's reported profit arrived as operating cash. Though the latest year ran at 96% — the trend is the thing to watch. In FY26, operating cash was ₹656 Cr against reported profit of ₹681 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Sharda Cropchem Ltd in its business cycle?
Sharda Cropchem Ltd's FY26 operating margin was 20.0%, against a 13-year band of 10.0%–23.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 17.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What could break the Sharda Cropchem Ltd story?
The sharpest disagreement: annual EPS moved +123.7% against a −17.8% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Sharda Cropchem Ltd a stock worth studying right now?
This is not investment advice. The machine read: Sharda Cropchem Ltd is cheap for a reason. The P/E sits at the 4th percentile of its own range, and the quarters are still getting worse. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.