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Vivek

Vivek Shah  |55 Answers  |Ask -

Financial Planner - Answered on May 03, 2023

Vivek Shah is a SEBI registered investment advisor and certified financial planner from FPSB India. He has over 18 years of experience in financial planning.
Shah founded Finrise, a financial planning and wealth management firm, in 2011. He believes that equity investment is the only way to generate long term wealth.
He has an MBA in finance, a degree in chartered accountancy and is a registered life planner from Kinder Institute of Life Planning, USA.... more
Asked by Anonymous - Apr 30, 2023Hindi
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I have 500 shares of Sumitomo chemicals @ 501...it's now 402... please advise

Ans: You have bought this company at expensive valuation and growth is subdued in last 6 months.

SUMICHEM reported modest revenue growth of 7% YoY at Rs7.5bn (PLe Rs8.6bn), primarily on the back of domestic and exports business growth of 4% YoY and 13% YoY. Domestic business was under pressure due to a) adverse weather conditions; b) higher channel inventory; c) lower demand and d) steep decline in revenues
of fungicide segment (Tebuconazole- contributing ~10% to revenues) that impacted volume growth. However, lower demand was partially offset by better realizations (Glyphosate- Volumes under pressure; still, prices remained strong). Exports, however, continued to post double digit revenue growth (up 13% YoY) primarily driven by superior growth from Europe, Asia and Africa up 113%/60%/30% YoY in 3QFY23. Further higher channel inventory in LATAM markets have resulted in 5% YoY revenue decline during 3Q’23.

SUMICHEM launched 9 new products in the domestic market in 9MFY23 (4 insecticides, 1 fungicide, 1 metal
phosphide, and 3 PGRs). The Company launched 3 new unique proprietary 9(3) products such as Sumi Blue Diamond, Pyclome and Danitol NXT in the domestic market. Additionally, the company has recently received registrations for 2 more unique proprietary 9(3) products and is in process of commercially launching them in the market. This in-turn would support revenues and margins, in the near term.

As you have bought this company at expensive valuation and if you ready hold this company for long term than it makes sense to hold this company. Until this company will see growth in sales and profit due to new product launches, the price will remian in this range only.

Disclaimer: This information is only for educational purpose and not a buy or sell recommendation.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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