Anand Rathi has given Buy recommendation for Sharda Cropchem with a target price of Rs. 600 in its research report issued on Jan 25, 2022

Anand Rathi’s research report on Sharda Cropchem

We are positive about Sharda’s future performance, considering its focus on registration, rising share of high margin products and deeper penetration in markets. Further, internally-funded capex and FCF would strengthen its balance sheet. We expect its revenue/profit to clock 14%/15% CAGRs over FY22-24.


The stock trades at 12.4x FY22e and 9.4x FY24e earnings. We maintain our Buy rating, though with a revised TP of Rs600, valuing the stock at 13x FY24e earnings.

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