5 agro chemical and fertilizer stocks to watch out for on August 4

As leading fertilizer and agro chemical companies are announcing their first quarter financial results, let us see which stocks this sector investors should keep an eye on.

PI Industries on August 3, post market hours announced a 40% increase in its consolidated net profit to Rs 2624 crore for the first quarter ended June 30 on YoY. In the June quarter, its net sales increased to Rs 15,432 crore from Rs 11,938 crore in the corresponding quarter of 2021–22. While revenue from exports grew by 42%, domestic revenue grew 4% YoY due to the late arrival of rains. EBITDA stood at Rs 3495 with a growth of 39% YoY. At 11.30 am, the shares of PI Industries are quoting at Rs 3104.65, up by 2.56% or Rs 77.40 per share.

Zuari Agro Chemicals Ltd, the flagship company of Adventz Group and leading the agriculture vertical of the Group reported a PAT of Rs 899 crore against a loss of Rs 10.8 crore in the same quarter last year. Revenue stood at Rs 1296 crore which was 59.55% up from Q1FY22. The company reported an exceptional gain of Rs 1142 crore during the quarter. In the morning session, the shares of Zuari Agro Chemicals are trading at Rs 161.10 with a gain of 4.44% over its previous close.

Chambal Fertilizers & Chemicals, one of India’s leading private sector fertilizer producers posted the highest ever Q1 PAT, EBT and EBITDA on a standalone basis. The company reported net revenue of Rs 7291.18 crore which was a 106% increase over Q1FY22. EBITDA stood at Rs 593.80 crore and PAT at Rs 406.84 crore, both grew by 2% and 18.8% YoY. At 11.30 am shares of Chambal Fertilizers were quoting at Rs 319.55 per share with a loss of 0.30% over its previous close.

BASF India Ltd also announced its Q1 results on August 3, posting a net profit of Rs 196.75 crore which was flat YoY but up by 31.30% QoQ. Net revenue stood at Rs 3882.47 crore up by 29% YoY and 14.75% higher than net revenue in Q4FY22. However, margins were impacted in the inflationary scenario with PAT Margin down by 149 bps and standing at 5.06%. At 11.30 am shares of this multinational agro chemical company were quoting at Rs  2944.15per share with a gain of 2.72% over its previous close.

Coromandel International Ltd India’s second largest Phosphatic fertilizer player has acquired a 45% equity stake in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining company based in Senegal in a move to India to become self-sufficient in DAP fertilizer as a part of Atma Nirbhar Bharat initiative. In the morning session, the shares of Coromandel International were trading at Rs 1021.35, a loss of 1.11% over its previous close.