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Super Crop Safe Limited announces Financial Results for First Quarter ended June 2018

Posted On: 2018-08-09 08:16:34

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 2018.

Financial Highlights - Q1FY19 vs Q1FY18:

- Standalone Q1FY19 Revenue down 4.91% YoY to INR 1,530 lakhs against INR 1,610 lakhs in Q1FY18

- Standalone EBITDA for Q1FY19 stands at INR 175 lakhs against INR 123 lakhs in Q1FY18, up 42.17%

- Standalone EBITDA Margin for Q1FY19 stands at 11.45% as against 7.66% in Q1FY18

- Standalone Q1FY19 Net Profit rise by 40.90% at INR 113 lakhs against INR 80 lakhs in Q1FY18

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 2019. In the first quarter we have successfully entered Uttar Pradesh and its benefit are reflecting in this quarter but the major impact can be seen in the results of next quarter. Uttar Pradesh has vast potential for expansion and we will further strengthen our presence in Uttar Pradesh. Monsoon is good this year, which has benefited Agro-chemical companies in this season, and the benefits of good monsoon will also be available in the Ravi season. Government's efforts to double the farmer's income and increase in MSP and the debt waiver of farmers in many states is also positive for Agro Chemicals companies. We have launched our R & D high-demand high-margin products, which are getting very good feedback, which has resulted in continuous improvement in our margins. We are going to launch 3-4 products in our R & D market every year, which can improve our margins further. The company is gradually moving ahead with new plans to enter new states, which can give the company an increase in sales with geographical benefits. Our intent is to become a pan India player with significant product mix. 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.27 as compared to the previous close of Rs. 27.65. The total number of shares traded during the day was 181028 in over 278 trades.

The stock hit an intraday high of Rs. 27.95 and intraday low of 26.9. The net turnover during the day was Rs. 4990417.

Source: Equity Bulls

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