Sumitomo Chemical India Ltd (SUMICHEM) makes and distributes crop protection products — insecticides, herbicides, fungicides and plant growth regulators — plus biologicals and animal nutrition products, drawing on parent Sumitomo Chemical Co.'s global brands. This quarter's print will speak to how a below-normal monsoon shaped kharif demand, and whether margins can hold against rising glyphosate and freight costs against a high 23.4% year-ago EBITDA margin base.
| Results date | October 26, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 1,063.3 Cr |
| Previous quarter PAT | Rs. 214.5 Cr |
| Previous quarter EBITDA margin | 21.9% |
| Market cap | Rs. 19,583.98 Cr |
| CMP | Rs. 392.35 |
Per the board meeting intimation under Regulation 29(1)(a), the board meets on Monday, 26 Oct 2026 to consider standalone and consolidated unaudited results for the quarter and half year ended 30 Sep 2026.
An earnings call for Q2 & H1 FY27 is scheduled for Tuesday, 27 Oct 2026 at 2:30 PM IST, intimated under Regulation 30(6). Participants include Dr. Suresh Ramachandran (MD), Mr. Kunal Mittal (EVP), Mr. Anil Nawal (CFO) and Mrs. Deepika Trivedi (Company Secretary).
The quarter tests management's open-ended guidance that EBITDA margin and PBT parameters 'will not decline', set against a high 23.4% EBITDA margin base in Q2 FY26 — a base management itself said 'should be ignored when assessing underlying performance'. The demand setup is mixed: kharif sowing finished about 1.4–1.7% below last year at 1,086.31 lakh ha as of 4 Sep 2026, with rice acreage down 3.7% and Karnataka total area down 18.5%, while the monsoon ran below normal (88% of LPA in the first half, 87% in the second) with only a late-September wet spell. On costs, glyphosate technical rose 6.4% in mid-September to 27,092.9 yuan/tonne in China's NBS survey (+5% YoY per Jefferies), the zero-duty import window on chemical inputs expired 30 Jun 2026, Brent neared $110/bbl by mid-September, and the rupee stayed about 6% weaker year-to-date — though the Rs. 766 Cr inventory position at 31 Mar 2026 offers a partial buffer and management's 'calibrated product-by-product' weekly price reviews are passing increases through gradually. Exports (21% of FY26 revenue) face a two-sided quarter, with Brazil hit by fresh 25% US tariffs from 22 Jul and Latin America channel pressure already flagged. This is also the first call for Dr. Suresh Ramachandran as Managing Director (effective 1 Sep 2026), where investors will look for strategy continuity and updates on the Q4FY27 Bhavnagar and Tarapur project timelines.
Bhavnagar second plant and Tarapur molecule line — Q4FY27 timelines: Both board-approved projects are targeted for completion and commercialization in Q4FY27 (January–March 2027).
Margin guidance vs FY27 cost headwinds: Management's open-ended guidance is that EBITDA margin and PBT parameters 'will not decline'.
Monsoon impact on Q2 FY27 kharif demand: Management explicitly said Q2 FY27 and H2 would be 'largely shaped by monsoon outcomes and global dynamics'.
Earnings quality, product pipeline and new MD's first call: H1 FY27 PAT includes the Rs. 26.9 Cr Q1 insurance-claim gain from the Bhavnagar plant fire of FY23.
Q1 FY27 standalone PAT of Rs. 216.53 Cr (+20.42% YoY) includes an exceptional gain of Rs. 26.90 Cr from an insurance claim for business interruption related to the Bhavnagar plant fire of FY2022-23. Excluding this item, standalone PAT was Rs. 189.63 Cr, or +5.47% YoY as computed in the results filing summary.
The southwest monsoon was forecast at 92% of LPA (below normal), with August at 84% of LPA and a marked wet spell only in the last week of September. Kharif sowing finished about 1.4–1.7% below last year at 1,086.31 lakh ha as of 4 Sep 2026, with rice acreage down 3.7% and Karnataka the sharpest decliner.
The Bhavnagar second plant (~Rs. 55 crore) and the Tarapur new-molecule line (~Rs. 10 crore) are both targeted for completion and commercialization in Q4FY27 (January–March 2027). Timelines are subject to timely regulatory approvals in respective export markets, undertaken by the parent.
On the Q2 FY26 call, management said efforts are focused on maintaining or improving EBITDA margin and PBT parameters, stating 'these metrics will not decline'. FY27 cost inflation and pricing uncertainties were flagged as sensitivities.
Q1 FY27 consolidated revenue rose 1% YoY to Rs. 1,063.3 Cr (+56% QoQ, reflecting agrochemical seasonality), with Operating EBITDA margin up 120 bps YoY to 21.9%. Growth was led by herbicides (+19% in FY26, driven by flumioxazin, Lentigo and Mera 71) and a South America jump from 1% to 6% of revenue.