Transcript for conference call for Q2 FY 2026-27 financial results of the Company.

6th November, 2026 National Stock Exchange of India BSE Limited Limited Phiroze Jeejeebhoi Tower, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, G-Block, Bandra Kurla Complex, Bandra Mumbai – 400 001 (E), Mumbai – 400 051 Trading Symbol: SHARDACROP Scrip Code: 538666 Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Transcript of Earnings Call Q2 FY 2026-27. Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), please find enclosed transcript for the conference call with the Analysts / Investors for the Q2 FY 2026-27 financial results of the Company conducted through digital means on Monday, 02nd November, 2026 at 03.00 P.M. (IST). Transcript is also available on the website of the Company at www.shardacropchem.com. We request you to take the same on record. Yours Sincerely, Jetkin Gudhka Company Secretary & Compliance Officer Encl: As above Sharda Cropchem Limited 2QFY27 Post Results Conference Call November 02, 2026 MANAGEMENT: MR. R.V. BUBNA – CHAIRMAN AND MANAGING DIRECTOR – SHARDA CROPCHEM LIMITED MR. SHAILESH MEHENDALE – CHIEF FINANCIAL OFFICER – SHARDA CROPCHEM LIMITED MR. JETKIN GUDHKA – COMPANY SECRETARY – SHARDA CROPCHEM LIMITED SGA, INVESTOR RELATIONS ADVISORS – SHARDA CROPCHEM LIMITED MODERATOR: MR. MANISH MAHAWAR – ANTIQUE STOCK BROKING LIMITED Page 1 of 12 Sharda Cropchem Limited November 02, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Sharda Cropchem Limited 2Q FY27 Post Results Conference Call hosted by Antique Stockbroking Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Manish Mahawar from Antique Stock Broking Limited. Thank you, and over to you. Manish Mahawar: Thank you, moderator. On behalf of Stock Broking, warm welcome to all the participants on the 2Q FY27 earnings call of Sharda Cropchem. Today, we have Mr. R.V. Bubna, Chairman and Managing Director; Shailesh Mehendale, CFO; and Mr. Jetkin Gudhka, Company Secretary on the call. Without any delay, I would like to hand over the call to Mr. Bubna for opening comments, post which we will open the floor for Q&A. Thank you, and over to you, Bubnaji. R. V. Bubna: Thank you, Manish-ji. Good afternoon, and very warm welcome to everyone present on the call. Along with me, I have Mr. Shailesh Mehendale, our CFO; and Mr. Jetkin Gudhka, Company Secretary; and SGA, our Investor Relations advisors. Hope you all have received our investor deck by now. As you are aware, we are engaged in marketing and distribution of wide range of agrochemical products that is herbicides, insecticides, fungicides and biocides, catering to diverse global markets. We prepare comprehensive dossiers and seek registrations of these products in our own name. We allocate substantial resources for securing registrations of our products and thus establish our foothold in the market. Our total product registrations stood at 3,044 as on 30th September 2026. Additionally, 946 applications for product registrations are in the pipeline. I am pleased to share that we have delivered another quarter of healthy growth, and the first half of 2027 has been encouraging across our key operating metrics. Revenue for the quarter grew by 13% year-on-year to INR1,052 crores. Gross margins expanded by around 140 basis points to 35.9%, while EBITDA grew 18% to INR164 crores, taking our EBITDA margin to 15.6%. Profit after tax for the quarter rose 23% to INR92 crores. In terms of revenue analysis for the quarter, the 13% revenue growth was on account of increased prices, positive forex impact and improved product mix of 18.3%. With a volume degrowth of minus 5.1%, For the half year, the 11% revenue growth was on account of an increased prices, positive forex impact and improved product mix of 14.5% (Errata: Actual number to be read as positive 14.5%) with a volume degrowth of minus 3.5%. NAFTA was the standout of this quarter Revenue from the region grew about 30% year-on-year with significantly better margins. LATAM also did well with agrochemical revenue up by over 80%. Together, these regions more than made up for a softer quarter in Europe. Europe, our largest market, saw a slight moderation this quarter coming off an exceptionally strong financial year '26. Page 2 of 12 Sharda Cropchem Limited November 02, 2026 The weather challenges were highlighted last quarter continued through the September quarter with extended heat and drought conditions in parts of Central and Eastern Europe. As a result, distributors have taken a cautious approach to restocking. We see this as a temporary weather- led impact rather than any change in underlying demand. Our registration portfolio and customer relationship in Europe remains strong. And as conditions normalize, we expect the region to do well in the second half, which is seasonally our stronger period. Further, we are encouraged by the momentum in NAFTA and LATAM, the steady growth of our non-agrochemical business and expected recovery in Europe. Our growing registrations portfolio and healthy pipeline give us a good visibility on new product launches over the coming years. We continue to maintain our FY27 revenue growth guidance to 10% to 15%. We also expect EBITDA margins to improve through the year and remain between 18% to 20% for FY27, supported by better product mix and operating leverages in the second half. FY27, we aim to increase product registrations with a planned capex of INR550 crores to INR600 crores, backed by strong pipeline that reflects our resilience and growth focus With this brief overview, I would now like to hand over the call to our CFO, Mr. Shailesh Mehendale for discussing our financial performance over the year. Thank you. Shailesh Mehendale: Thank you. Good afternoon, everyone. Coming to the Q2 FY27 performance, revenue stood at INR1,052 crores in Q2 FY27 versus INR929 crores in Q2 FY26, an increase of 13% year-on- year. Coming to the split, agrochemical business grew by 5% year-on-year to INR840 crores, whereas non-agrochemical business grew by 68% year-on-year to INR212 crores. Gross margin stood at 35.9% in Q2 FY27 as against 34.5% in Q2 FY26, an increase of 140 basis points. EBITDA grew by 18% to INR164 crores with EBITDA margin at 15.6% as against 15% in Q2 FY26, an increase of 70 basis points. Forex loss stood at INR0.4 crores in Q2 FY27 as against loss of INR6.1 crores in Q2 FY26. PBT stood at INR107 crores, an increase of 25% year-on- year. On a like-to-like basis, PBT prior to forex grew by 17% year-on-year to INR108 crores. PAT stood at INR92 crores versus INR74 crores last year, an increase of 23% year-on-year basis. Coming to the H1 FY27 performance, revenue stood at INR2,125 crores in H1 FY27 versus INR1,914 crores in H1 FY26, an increase of 11% year-on-year. Coming to the split, agrochemical business grew by 6% year-on-year to INR1,755 crores, whereas the non- agrochemical business grew by 40% year-on-year to INR371 crores. Gross margin stood at 36.3% in H1 FY27 as against 35% in H1 FY26, an increase of 130 basis points. EBITDA grew by 22% to INR343 crores with EBITDA margin at 16.1% as against 14.7% in H1 FY26, an increase of 140 basis points. Forex gain stood at INR7.1 crores in H1 FY27 as against forex gain of INR67 crores in H1 FY26. PBT stood at INR226 crores versus INR255 crores last year. On a like-to-like basis, PBT prior to forex grew by 16% year-on-year to INR219 crores. PAT stood at INR180 crores versus Page 3 of 12 Sharda Cropchem Limited November 02, 2026 INR217 crores last year. The company continues to [Showing first 8,000 characters — download PDF for full document]