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Equity Research Report: Religare Initiating coverage Sharda Cropchem

Sharda Cropchem an agrochemical company, with a differentiated business model and is largely focused on exports to European and LATAM markets. It follows an asset light model and leverages its core competency of successful registrations of agrochemical formulations which is a significant entry barrier in the markets where it operates. The strong pipeline of registrations will ensure CAGR of more than 20% for FY15E-FY17E, a strong balance sheet and significant free cash flows in the future to keep the valuations at premium as compared to its peers. We are initiating coverage on the company with a Buy recommendation.
13 Mar 2015 | 03:19 PM

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