Sumitomo Chemical Q1FY25 profit more than doubles; stock hits 52-week high

Sumitomo Chemical buzzing in trade: Chemicals company Sumitomo Chemical shares zoomed as much as 7.15 per cent to hit an intraday high of Rs 540.80 per share on Monday, July 29, 2024.

The share price soared after the company posted healthy numbers in the June quarter of financial year 2025 (Q1FY25).

Sumitomo Chemical’s consolidated profit jumped 105.5 per cent on a year-on-year (Y-o-Y) basis to Rs 126.6 crore in the June quarter of financial year 2025 (Q1FY25), as against Rs 61.6 crore in the June quarter of financial year 2024 (Q1FY24).

The revenue from operations rose per cent Y-o-Y to Rs 838.8 crore in the June quarter of FY25, as compared to Rs 724.2 crore in the June quarter of FY24. 

 

In Q1FY25, Sumitomo Chemical’s expenses surged 5.4 per cent year-on-year to Rs 693.8 crore, as opposed to Rs 658.4 crore in the same quarter last year (Q1FY24).

At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda), also known as operating profit, soared 99.6 per cent on a Y-o-Y basis to Rs 160.9 crore in Q1FY25, from Rs 80.6 crore in the same quarter a year ago.

Consequently, Ebitda margin, also known as operating profit margin, zoomed 810 basis points (bps) to 19.2 per cent in the June quarter of current fiscal year (Q1FY25), from 11.1 per cent in the June quarter of previous fiscal year (Q1FY24).

Established on February 15, 2000, SCIL transitioned from a Private Limited to a Public Limited company on November 24, 2018. As a subsidiary of Sumitomo Chemical Company Limited Japan (SCCL), SCIL specialises in the production of household insecticides, agricultural pesticides, public health insecticides, and animal nutrition products.

The market capitalisation of the company is Rs 26,482.18 crore, according to Bombay Stock Exchange (BSE). The 52-week low of the stock is Rs 336.40 apiece.

At 2:17 PM, shares of Sumitomo Chemical were trading 5.13 per cent higher at Rs 530.60 per share. In comparison, BSE Sensex was trading 0.08 per cent lower at 81,263.66 levels.