Sumitomo Chemical India Ltd. Announces Quarterly results, Records Surge in PAT

Sumitomo Chemical India Limited, a company engaged in manufacturing and sales of household insecticides, agricultural pesticides, public health insecticides and animal nutrition products has recently reported its financial results for Q1FY21. The company’s quarterly net profit was clocked at INR 78.57 crore in June 2020 up by 51.6% than in June 2019. Company’s EBITDA stands at INR 120 crore in June 2020 up from INR 84.20 crore in June last year. The company has reported expanding margins from its agrochemicals sector despite ongoing talks on the ban of certain products in its portfolio after the Government of India released a notification regarding proposed ban of some agrochemical products. Sumitomo Chemical India Limited is an Indian subsidiary of the Japan's Sumitomo Chemical Co., Ltd. which is a major Japanese chemical and petrochemical company serving several verticals across the world.