India's Sudarshan Chemical surges 12% as Q4 profit spikes Q/Q

Sudarshan Chemical Industries

24/05/2023 07:55

** Shares of Sudarshan Chemical Industries Ltd  SDCH.NS 
rise as much as much as 12.76% to a more than seven-month high
of 443.50 rupees
    ** The pigments' maker reports 55-fold jump in net profit
Q/Q; core profit doubles
    ** However, Y/Y, net profit falls 27%, core profit margin
down to 12.37% from 13.82%
    ** Revenue rises 10% Y/Y
    ** Subdued demand across geographies and segments resulted
in volume and pricing pressure in the first three quarters for
fiscal year 2023: SDCH
    ** Strong sequential performance in March quarter indicates
demand revival: SDCH
    ** Stock most active in more than two months, with trading
volume of 2.21 mln shares as of 12:09 p.m. IST, 31 times the
30-day avg - Refinitiv data
    ** Of eight analysts tracking SDCH, three maintain "buy",
two suggest "sell" and three recommend "hold"; median TP is 427
rupees 


($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))