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Super Crop Safe Limited announces Financial Results for Q1FY20

Posted On: 2019-08-16 17:28:03

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 quarter ended June 2019.

Financial Highlights - Q1FY20 vs Q1FY19:

- Standalone Q1FY20 Revenue is down to INR 1,418 lakhs against INR 1,530 lakhs in Q1FY19
- Standalone EBITDA for Q1FY20 stands at INR 181 lakhs against INR 175 lakhs in Q1FY19
- Standalone EBITDA Margin for Q1FY20 stands at 12.76% as against 11.44% in Q1FY19
- Standalone Q1FY20 Net Profit rise to INR 114 lakhs against INR 113 lakhs in Q1FY19

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 quarter of fiscal year 2020. Due to a month's delay in monsoon, the season has shifted ahead. Although the industry performance has not been impressive, we at Super Crop have been able to achieve stable numbers. We are positive for giving good results in the coming two quarters because of well penetrated monsoon, in the states where we are present.

We are now reaping benefits from the brand building activities, which we carried out in the last fiscal year, for our two bio fertilizers (Super gold & TriNetra). Over the years, we have been introducing new high margin, high demand products to the market, as a result of which Super Crop now boasts of 123 products in its collection, including the 5 new ones launched in this quarter. Out of the 5 new products, 4 are insecticides and one is a weedicide. We are willing to continue innovating and leveraging our robust R&D to dominate the market and improve our performance. We are constantly increasing the number of our distributors and aim to double it by next year.

Future Plans:

Nutraceutical segment is a blooming market in India, with everybody focusing on their health. This segment includes high demand and high margin products, ultimately the demand for nutraceutical segment will be very high in coming years. Spirulina has received all the permissions related to manufacturing and marketing. A Spirulina based Energy drink and few other products, which are in the final stage of R&D, will help us to enter the new market segment.

The company has applied for the acquisition of a 10,000 sq. mt. plot, which will be used for the setting up of a technical grade plant. As soon as we receive the permission, we will start the plant development work. At present, company holds the 10 technical grade licenses. The production from this plant will be used for captive use as well as for sale in the market. This will boost the Topline, EBIDTA, PAT and Margins massively that will assist your company to make a new space in the agrochemicals segment.

Shares of SUPER CROP SAFE LTD. was last trading in BSE at Rs.20.2 as compared to the previous close of Rs. 21.3. The total number of shares traded during the day was 13197 in over 65 trades.

The stock hit an intraday high of Rs. 21.55 and intraday low of 20.2. The net turnover during the day was Rs. 270240.

Source: Equity Bulls

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