Buy Sumitomo Chemicals: target of Rs 485: ICICI Securities
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ICICI Securities set a target price of Rs 485 for Sumitomo Chemicals.
- ✓The company reported an EBITDA of INR 1.86bn, down 15% year-on-year.
- ✓Domestic demand fell due to a delayed monsoon and lower sowing area.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
ICICI Securities research report on Sumitomo Chemicals Sumitomo Chemicals (SCIL) reported EBITDA/adj. PAT of INR 1.86bn/INR 1.57bn, down 15%/11% YoY (down 20%/27% QoQ) vs. I-Sec estimates of EBITDA/PAT of INR 1.6/INR 1.3bn. Domestic demand remains subdued owing to a delayed monsoon (13% rainfall deficit till Sep'26-end) and lower acreage (~2% decline in kharif sowing area); exports declined 22% YoY. However, access to global parent-innovator, Sumitomo Chemical (SCC), and its technology, aggressive capex, well-diversified portfolio, new product launches, regulatory clearance for bio-stimulant, and SSC's plans to expand semiconductor chemicals in India could aid SCIL's long-term growth.
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