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Super Crop Safe Limited announces Financial Results for First Half ended September 2018

Posted On: 2018-11-15 15:24:55

Super Crop Safe Limited (BSE:530883), a leading manufacturer and trader of Agro-chemicals, with leadership in the manufacturing of Pesticides, Bioproducts and Nutraceuticals, today announced their unaudited financial results for first half ended September 2018.

Financial Highlights - H1FY19 vs H1FY18:

- Standalone H1FY19 Revenue is up INR 3,444 lakhs against INR 3,406 lakhs in H1FY18
- Standalone EBITDA for H1FY19 stands at INR 389 lakhs against INR 367 lakhs in H1FY18
- Standalone EBITDA Margin for H1FY19 stands at 11.30% as against 10.76% in H1FY18
- Standalone H1FY19 Net Profit rise to INR 260.29 lakhs against INR 256.46 lakhs in H1FY18

Note: Revenue numbers are net of excise duty

Ishwarbhai Patel, Chairman & CEO, Super Crop Safe, said," We are very happy to announce the results of the first half of fiscal year 2019. The first half has been challenging for the company mainly due to drought in Gujarat, Maharashtra and Rajasthan. The rising prices of raw material has also impacted the company's performance. Amidst these headwinds, the company has successfully posted the stable results with EBITDA of 389.12 lakhs in H1 FY19 as against 366.63 lakhs in H1 FY18. Our operation in UP, that we started in the last quarter, has turned out to be a great investment for this quarter.

We recently obtained the organic certificate of manufacturing, processing, storage and trading for two of our high margin & high demand products, triNETRA, Super Gold-Mycorrhizal, which enhanced the market value of these products. Rabi crop season will be great for the company as GOI has increased the MSP of Rabi crop, which will have a positive impact in the second half of fiscal year 2019."

Future Plans:

Our intent is to become a pan India player with significant product mix. The company making strategical plans to enter new regions, getting geographical benefits, to increase the sales. With our commitment to launch 3-4 high margin & high demand products every year in our R&D market, we are looking at improved margins in the coming years. We also want to increase our distributor network from 2100 to atleast 4000 by 2020."

Shares of SUPER CROP SAFE LTD. was last trading in BSE at Rs.17.6 as compared to the previous close of Rs. 18.1. The total number of shares traded during the day was 73308 in over 151 trades.

The stock hit an intraday high of Rs. 18.5 and intraday low of 17.5. The net turnover during the day was Rs. 1303536.

Source: Equity Bulls

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