Sharda Crop~h Liitd Formerl

~Iknown as Sharda Worldwide Ex arts Pvt Ltd ~~

Tel +91 2266782800 ISO 9001 2008 Reg No 690257

Fax +91 226678282866782808 CIN L51909MH2004PLC145007

Email shardainvsnlcom Regd Office Domnic Holm 29 Road Bandra 0N) Mumbai - 400 050 India

wwwshardaworldcom

26 th May 2016

The Secretary BSE Limited Listing Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Scirp Code 538666 Scrip ID SHARDACROP

Subject InvestorsAnalysts Presentation for the Quarter and Year ended March 312016

Dear SirMadam

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (Listing Regulations) we are enclosing herewith the presentation to be made to the InvestorsAnalysts on the Financial Results of the Company for the Quarter and Year ended March 31 2016

The presentation is also being uploaded on the website of the Company wwwshardacropchemcomin accordance with Regulation 46 of the Listing Regulations

We request you to take the same on record

Yours faithfully

Jetkin Gudhka Company Secretary amp Compliance Officer

End As above

Q4 amp FY16 RESULTS UPDATE

MAY 2016

DISCLAIMER

This presentation and the following discussion may contain ldquoforward looking statementsrdquo by Sharda Cropchem Limited

(ldquoShardardquo or ldquothe Companyrdquo) that are not historical in nature These forward looking statements which may include

statements relating to future results of operations financial condition business prospects plans and objectives are based

on the current beliefs assumptions expectations estimates and projections of the management of Sharda about the

business industry and markets in which Sharda operates

These statements are not guarantees of future performance and are subject to known and unknown risks uncertainties

and other factors some of which are beyond Shardarsquos control and difficult to predict that could cause actual results

performance or achievements to differ materially from those in the forward looking statements Such statements are not

and should not be construed as a representation as to future performance or achievements of Sharda

In particular such statements should not be regarded as a projection of future performance of Sharda It should be noted

that the actual performance or achievements of Sharda may vary significantly from such statements

2

DISCUSSION SUMMARY

Q4 amp FY16 Results Highlights

Q4 amp FY16 Consolidated Financials

About Us

Business Model

Business Strategy amp Outlook

3

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

4

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

Q4 FY16 YoY ANALYSIS

34085

52443

349 379

Q4 FY15 Q4 FY16

Revenues Gross Margin

7255

15189

213 290

Q4 FY15 Q4 FY16

EBITDA EBITDA Margin

4808

10637

141 203

Q4 FY15 Q4 FY16

PAT PAT Margin

54 109 121

Excluding Foreign Exchange Impacts

106246 122061

332 352

FY15 FY16

Revenues Gross Margin

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

FY16 YoY ANALYSIS

19086

26691

180 219

FY15 FY16

EBITDA EBITDA Margin

12297

17497

116 144

FY15 FY16

PAT PAT Margin

15 40 42

In Rs Mn

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

FINANCIAL UPDATE -

bull Q4 FY16 total revenues grew by 539 YoY primarily driven by an overall volume growth of 623 across all geographies and favourable currency impact of 124 This was partially offset by adverse priceproductregion mix impact of 208 The fourth quarter of the financial year as always is the strongest quarter with highest quarterly sales The key contributor this quarter has been the European region

bull Q4 FY16 gross profit increased by 672 YoY in line with revenues Q4 FY16 gross margin increased by 303 bps to 379 in FY16

bull Q4 FY16 EBIDTA excluding foreign exchange impact increased by 1094 Q4 FY16 EBITDA margin increased by 768 bps to 290

OPERATIONAL UPDATE -

bull Total number of registrations increased to 1765 as on 31st March 2016 compared to 1626 as on 31st December 2015 and 1409 as on 31st March 2015

bull The company added 139 registrations in Q4 FY16 and 356 registrations in FY16

bull The company has another 818 registrations in the pipeline across geographies

bull Total revenue contribution from the Top 10 molecules has been 604 in FY16 as compared to 587 in FY15

5

Q4 amp FY16 RESULTS REVENUE ANALYSIS

6

Q4 FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

539

-208

PriceProductRegion Mix Impact 124

Currency Impact 623

Volumes Impact

148

-84

-08

240

Volumes Impact FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

Currency Impact

PriceProductRegion Mix Impact

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

DISCLAIMER

This presentation and the following discussion may contain ldquoforward looking statementsrdquo by Sharda Cropchem Limited

(ldquoShardardquo or ldquothe Companyrdquo) that are not historical in nature These forward looking statements which may include

statements relating to future results of operations financial condition business prospects plans and objectives are based

on the current beliefs assumptions expectations estimates and projections of the management of Sharda about the

business industry and markets in which Sharda operates

These statements are not guarantees of future performance and are subject to known and unknown risks uncertainties

and other factors some of which are beyond Shardarsquos control and difficult to predict that could cause actual results

performance or achievements to differ materially from those in the forward looking statements Such statements are not

and should not be construed as a representation as to future performance or achievements of Sharda

In particular such statements should not be regarded as a projection of future performance of Sharda It should be noted

that the actual performance or achievements of Sharda may vary significantly from such statements

2

DISCUSSION SUMMARY

Q4 amp FY16 Results Highlights

Q4 amp FY16 Consolidated Financials

About Us

Business Model

Business Strategy amp Outlook

3

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

4

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

Q4 FY16 YoY ANALYSIS

34085

52443

349 379

Q4 FY15 Q4 FY16

Revenues Gross Margin

7255

15189

213 290

Q4 FY15 Q4 FY16

EBITDA EBITDA Margin

4808

10637

141 203

Q4 FY15 Q4 FY16

PAT PAT Margin

54 109 121

Excluding Foreign Exchange Impacts

106246 122061

332 352

FY15 FY16

Revenues Gross Margin

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

FY16 YoY ANALYSIS

19086

26691

180 219

FY15 FY16

EBITDA EBITDA Margin

12297

17497

116 144

FY15 FY16

PAT PAT Margin

15 40 42

In Rs Mn

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

FINANCIAL UPDATE -

bull Q4 FY16 total revenues grew by 539 YoY primarily driven by an overall volume growth of 623 across all geographies and favourable currency impact of 124 This was partially offset by adverse priceproductregion mix impact of 208 The fourth quarter of the financial year as always is the strongest quarter with highest quarterly sales The key contributor this quarter has been the European region

bull Q4 FY16 gross profit increased by 672 YoY in line with revenues Q4 FY16 gross margin increased by 303 bps to 379 in FY16

bull Q4 FY16 EBIDTA excluding foreign exchange impact increased by 1094 Q4 FY16 EBITDA margin increased by 768 bps to 290

OPERATIONAL UPDATE -

bull Total number of registrations increased to 1765 as on 31st March 2016 compared to 1626 as on 31st December 2015 and 1409 as on 31st March 2015

bull The company added 139 registrations in Q4 FY16 and 356 registrations in FY16

bull The company has another 818 registrations in the pipeline across geographies

bull Total revenue contribution from the Top 10 molecules has been 604 in FY16 as compared to 587 in FY15

5

Q4 amp FY16 RESULTS REVENUE ANALYSIS

6

Q4 FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

539

-208

PriceProductRegion Mix Impact 124

Currency Impact 623

Volumes Impact

148

-84

-08

240

Volumes Impact FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

Currency Impact

PriceProductRegion Mix Impact

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

DISCUSSION SUMMARY

Q4 amp FY16 Results Highlights

Q4 amp FY16 Consolidated Financials

About Us

Business Model

Business Strategy amp Outlook

3

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

4

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

Q4 FY16 YoY ANALYSIS

34085

52443

349 379

Q4 FY15 Q4 FY16

Revenues Gross Margin

7255

15189

213 290

Q4 FY15 Q4 FY16

EBITDA EBITDA Margin

4808

10637

141 203

Q4 FY15 Q4 FY16

PAT PAT Margin

54 109 121

Excluding Foreign Exchange Impacts

106246 122061

332 352

FY15 FY16

Revenues Gross Margin

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

FY16 YoY ANALYSIS

19086

26691

180 219

FY15 FY16

EBITDA EBITDA Margin

12297

17497

116 144

FY15 FY16

PAT PAT Margin

15 40 42

In Rs Mn

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

FINANCIAL UPDATE -

bull Q4 FY16 total revenues grew by 539 YoY primarily driven by an overall volume growth of 623 across all geographies and favourable currency impact of 124 This was partially offset by adverse priceproductregion mix impact of 208 The fourth quarter of the financial year as always is the strongest quarter with highest quarterly sales The key contributor this quarter has been the European region

bull Q4 FY16 gross profit increased by 672 YoY in line with revenues Q4 FY16 gross margin increased by 303 bps to 379 in FY16

bull Q4 FY16 EBIDTA excluding foreign exchange impact increased by 1094 Q4 FY16 EBITDA margin increased by 768 bps to 290

OPERATIONAL UPDATE -

bull Total number of registrations increased to 1765 as on 31st March 2016 compared to 1626 as on 31st December 2015 and 1409 as on 31st March 2015

bull The company added 139 registrations in Q4 FY16 and 356 registrations in FY16

bull The company has another 818 registrations in the pipeline across geographies

bull Total revenue contribution from the Top 10 molecules has been 604 in FY16 as compared to 587 in FY15

5

Q4 amp FY16 RESULTS REVENUE ANALYSIS

6

Q4 FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

539

-208

PriceProductRegion Mix Impact 124

Currency Impact 623

Volumes Impact

148

-84

-08

240

Volumes Impact FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

Currency Impact

PriceProductRegion Mix Impact

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

4

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

Q4 FY16 YoY ANALYSIS

34085

52443

349 379

Q4 FY15 Q4 FY16

Revenues Gross Margin

7255

15189

213 290

Q4 FY15 Q4 FY16

EBITDA EBITDA Margin

4808

10637

141 203

Q4 FY15 Q4 FY16

PAT PAT Margin

54 109 121

Excluding Foreign Exchange Impacts

106246 122061

332 352

FY15 FY16

Revenues Gross Margin

REVENUES amp GROSS MARGIN EBITDA amp EBITDA MARGIN PAT amp PAT MARGIN

FY16 YoY ANALYSIS

19086

26691

180 219

FY15 FY16

EBITDA EBITDA Margin

12297

17497

116 144

FY15 FY16

PAT PAT Margin

15 40 42

In Rs Mn

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

FINANCIAL UPDATE -

bull Q4 FY16 total revenues grew by 539 YoY primarily driven by an overall volume growth of 623 across all geographies and favourable currency impact of 124 This was partially offset by adverse priceproductregion mix impact of 208 The fourth quarter of the financial year as always is the strongest quarter with highest quarterly sales The key contributor this quarter has been the European region

bull Q4 FY16 gross profit increased by 672 YoY in line with revenues Q4 FY16 gross margin increased by 303 bps to 379 in FY16

bull Q4 FY16 EBIDTA excluding foreign exchange impact increased by 1094 Q4 FY16 EBITDA margin increased by 768 bps to 290

OPERATIONAL UPDATE -

bull Total number of registrations increased to 1765 as on 31st March 2016 compared to 1626 as on 31st December 2015 and 1409 as on 31st March 2015

bull The company added 139 registrations in Q4 FY16 and 356 registrations in FY16

bull The company has another 818 registrations in the pipeline across geographies

bull Total revenue contribution from the Top 10 molecules has been 604 in FY16 as compared to 587 in FY15

5

Q4 amp FY16 RESULTS REVENUE ANALYSIS

6

Q4 FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

539

-208

PriceProductRegion Mix Impact 124

Currency Impact 623

Volumes Impact

148

-84

-08

240

Volumes Impact FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

Currency Impact

PriceProductRegion Mix Impact

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

Q4 amp FY16 RESULTS KEY HIGHLIGHTS

FINANCIAL UPDATE -

bull Q4 FY16 total revenues grew by 539 YoY primarily driven by an overall volume growth of 623 across all geographies and favourable currency impact of 124 This was partially offset by adverse priceproductregion mix impact of 208 The fourth quarter of the financial year as always is the strongest quarter with highest quarterly sales The key contributor this quarter has been the European region

bull Q4 FY16 gross profit increased by 672 YoY in line with revenues Q4 FY16 gross margin increased by 303 bps to 379 in FY16

bull Q4 FY16 EBIDTA excluding foreign exchange impact increased by 1094 Q4 FY16 EBITDA margin increased by 768 bps to 290

OPERATIONAL UPDATE -

bull Total number of registrations increased to 1765 as on 31st March 2016 compared to 1626 as on 31st December 2015 and 1409 as on 31st March 2015

bull The company added 139 registrations in Q4 FY16 and 356 registrations in FY16

bull The company has another 818 registrations in the pipeline across geographies

bull Total revenue contribution from the Top 10 molecules has been 604 in FY16 as compared to 587 in FY15

5

Q4 amp FY16 RESULTS REVENUE ANALYSIS

6

Q4 FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

539

-208

PriceProductRegion Mix Impact 124

Currency Impact 623

Volumes Impact

148

-84

-08

240

Volumes Impact FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

Currency Impact

PriceProductRegion Mix Impact

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

Q4 amp FY16 RESULTS REVENUE ANALYSIS

6

Q4 FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

539

-208

PriceProductRegion Mix Impact 124

Currency Impact 623

Volumes Impact

148

-84

-08

240

Volumes Impact FY16 YoY CHANGE IN REVENUE FROM OPERATIONS

Currency Impact

PriceProductRegion Mix Impact

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

Q4 amp FY16 RESULTS REVENUE ANALYSIS

7

GEOGRAPHICAL PRESENCE ndash AGROCHEMICAL SALES

676 674 506 554

148 153 199 197

60 92 173 135

116 81 122 114

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

AGROCHEMICALS VS NON-AGROCHEMICALS

854 889 814 842

146 111 186 158

Q4 FY15 Q4 FY16 FY15 FY16

Agrochemicals Non-Agrochemicals

Revenues From Operations 34052 121858

In Rs Mn

FORMULATIONS VS ACTIVE INGREDIENTS

805 897

787 840

195 103 213 160

Q4 FY15 Q4 FY16 FY15 FY16

Formulations AIs

Agrochemical Revenues 29069 46600

Agrochemical Revenues

52402 106106 86344 102652

273 253 303 258

238 316 225 355

212 248

225 217

277 183 247 170

Q4 FY15 Q4 FY16 FY15 FY16

Europe NAFTA LATAM RoW

19763 19206 5802 4983

GEOGRAPHICAL PRESENCE ndash NON-AGROCHEMICAL SALES

Non-Agrochemical Revenues 29069 46600 86344 102652

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

RATIO ANALYSIS

8

203 239 232

308 317

386

FY15 FY16

ROE ROCE Cash Adj ROCE

bull Virtually debt-free balance sheet with net

cash position of Rs 14485 mn as of FY16

bull Working capital cycle significantly improved

from 104 days in FY15 to 79 days in FY16

LEVERAGE ANALYSIS (In Rs Mn)

3807 200

65451 81081

15611 14685

FY15 FY16

Debt Equity CampCE

WORKING CAPITAL ANALYSIS

48 48

156 186

100

155

FY15 FY16

Inventory Days Receivables Days Creditors Days

ROE PATEquity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

Calculated on closing inventory receivables creditors

In Rs Mn

RETURN METRICS

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

CONSOLIDATED PROFIT amp LOSS STATEMENT

9

Particulars (In Rs Mn) Q4 FY16 Q4 FY15 YoY FY16 FY15 YoY

Revenue from Operations 52402 34052 539 121858 106106 148

Other Operating Income 41 33 242 203 139 460

Total Revenues 52443 34085 539 122061 106246 149

COGS 32582 22209 467 79227 71007 116

Gross Profit 19861 11876 672 42834 35239 216

Gross Margin 379 349 303 bps 352 332 194 bps

Employee Expenses 847 724 169 2749 2437 128

Other Expenses 3825 4027 -50 13394 15537 -138

EBITDA 15189 7124 1132 26691 17265 546

EBITDA Margin 290 209 806 bps 219 163 563 bps

Operating EBITDA Excl Forex Impacts 15189 7255 1094 26691 19086 398

Operating EBITDA Margin excl Forex Impacts 290 213 768 bps 219 180 392 bps

Depreciation 1004 663 513 3505 2331 504

Finance Cost 54 -01 - 55 80 -312

Other Income 1378 720 914 2773 2733 15

Prior Period Adjustments (Net of tax) 86 03 - 50 45 111

PBT 15424 7179 1148 25853 17541 474

Tax Expense 4778 2386 1003 8350 5243 592

Minority Interest 09 -15 -1601 07 - -

PAT after minority interest 10637 4808 1212 17497 12297 423

PAT Margin 203 141 618 bps 144 116 277 bps

Earnings Per Share (EPS) In Rs 1179 533 1212 1939 1363 423

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

10

CONSOLIDATED BALANCE SHEET

Particulars (In Rs Mn) FY16 FY15

Assets

Non-Current Assets

Fixed Assets

Tangible assets 143 152

Intangible assets 12837 8645

Intangible assets under development

20984 14878

Goodwill on consolidation 38 38

Deferred Tax Assets (net) - 06

Non-Current Investments - 900

Long-term Loans amp Advances 4070 3668

38072 28287

Current Assets

Current Investments 8198 8588

Inventories 15984 13958

Trade Receivables 61998 45444

Cash amp Bank Balance 6487 7024

Short-term Loans amp Advances 1072 1242

Other Current Assets 271 120

94010 76376

Total Assets 132082 104663

Particulars (In Rs Mn) FY16 FY15

Equities amp Liabilities

Shareholders Funds

Share Capital 9022 9022

Reserves amp Surplus 72059 56429

81081 65451

Minority Interest 09 03

Non-Current Liabilities

Deferred Tax Liability 3892 2159

Long-term Provisions 93 55

3985 2214

Current Liabilities

Short-term Borrowings 200 3807

Trade Payables 38373 22809

Other Current Liabilities 7858 7206

Short-term Provisions 576 3173

47007 36995

Total Equity amp Liabilities 132082 104663

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

11

ABOUT US COMPANY OVERVIEW

KEY

STRENGTHS

STRONG

FINANCIALS

Asset light business model with core competency of registrations and an extensive library of dossiers and registrations

Strong geographical presence in more than 78 countries with an established global marketing amp distribution network (more than 634 third-party distributors and over 120 direct sales force)

Superior sourcing capabilities with an established access to cost competitive manufacturers in China and India

Significant promoter experience and experienced management team

Consolidated Revenues EBITDA and PAT were Rs 122061 mn Rs 26691 mn and Rs 17497 mn in FY16 having grown at CAGR of 19 22 and 26 over FY12 to FY16

Strong balance sheet and asset light model resulting into a strong cash position of Rs 14485 mn (net of gross debt of Rs 200 mn) and equity of Rs 81081 mn in FY15

Healthy Return Ratios in FY16

ROCE ndash 308

Cash Adj ROCE ndash 386

ROE ndash 239

BUSINESS

OVERVIEW

Sharda Cropchem Limited is a global crop protection chemical company largely operating across Europe NAFTA and Latin America across fungicides herbicides and insecticides

Sharda operates with an asset light business model focused on identification and registration of potential molecules with a strong demand

As of 31st March 2016 Sharda owned 1545 registrations for formulations and 220 registrations for active ingredients (AIs) and filed 818 applications for registrations globally pending at different stages

Sharda also runs a non-agrochemical business comprising of order-based procurement and supply of non-agrochemical products including conveyor belts and general chemicals dyes and dyes intermediates

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

12

ABOUT US FINANCIAL SUMMARY

687 844 1111 1230

1750

112 108 141 116 144

FY12 FY13 FY14 FY15 FY16

PAT PAT Margin

REVENUE FROM OPERATIONS EBITDA amp EBITDA Margin PAT amp PAT Margin

LEVERAGE ANALYSIS RETURN METRICS

6135 7777 7904

10611 12186

FY12 FY13 FY14 FY15 FY16

CAGR 19

12250

13998

15426

17265

26691

200 180 195 163 219

FY12 FY13 FY14 FY15 FY16

EBITDA EBITDA Margin

CAGR 22 CAGR 26

34 459 399 381 20

3929 4668

5557 6545 8108

621 1279

1909 1561 1469

FY12 FY13 FY14 FY15 FY16Equity Debt CampCE

222 227 226 232

308 263 287 317 317

386

193 196

217 203

239

FY12 FY13 FY14 FY15 FY16

ROCE Cash Adj ROCE ROE

Source Figures for FY12 and FY13 are sourced from Red Herring Prospectus of the company PAT Margin = PAT Revenue from Operations EBITDA Margin = EBITDA (excl Other Income) Revenue from Operations ROE PATAvg Equity ROCE EBITAvg Capital Employed [(Capital Employed = Equity + Total Debt) (Cash Adj Capital Employed = Equity + Total Debt ndash CampCE)]

In Rs Mn

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

13

ABOUT US SHAREHOLDING STRUCTURE

Market Data As on 250516 (BSE)

Market capitalization (Rs Mn) 269759

Price (Rs) 2990

No of shares outstanding (Mn) 902

Face Value (Rs) 100

52 week High-Low (Rs) 3699 ndash 2033

CMP Rs 2990

Source Company

Source BSE

Source Company

Promoter 7500 FII

700

DII 1299

Public 501

Key Institutional Investors - 31st March 2016 Holding

DSP Blackrock Investment Manager 623

HDFC Asset Management 354

Pinebridge Investments 248

Goldman Sachs 202

SBI Funds Management 164

UTI MF 086

Amansa Holdings Pvt Ltd 083

Kuwait Investment Authority Fund 065

Reliance Capital 064

Shareholding - 31st March 2016

0

10000

20000

30000

0

100

200

300

400

500

Share Price Performance

Sharda Cropchem Sensex

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

DIFFERENTIATED BUSINESS MODEL ASSET LIGHT MODEL

SHARDA IS A FOCUSSED GLOBAL AGROCHEMICAL MARKETING amp DISTRIBUTION COMPANY

Basic amp Applied

Research Identification Registration

Active Ingredient

Manufacturing

Formulation amp Packaging

Marketing amp Distribution

Agrochemical Value Chain Shardarsquos Operating Area

ASSET LIGHT BUSINESS MODEL

Focus on identification of generic molecules preparing dossiers seeking registrations marketing amp distributing formulations through third party distributors andor own sales

Manufacturing of AIs and formulations is outsourced

Highly flexible operating model resulting in ndash

Overall cost competitiveness

Efficient management of fluctuating market demand across various geographies

Offering wide range of formulations and AIs

Markets

Registration

AI Manufacturing

Basic amp Applied

Research

Traditional Model Supply Pushed Product Driven

Markets

Identification amp Registration

Customer amp Products

Shardarsquos Model Demand Pulled Customer Driven

14

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

BUSINESS STRATEGY amp OUTLOOK

Expand amp Strengthen Distribution Presence

Continual Investment in Obtaining Registrations

Focus on Biocide Registrations

Focus on Inorganic Growth

Expand geographical reach using existing library of dossiers

Two-fold strategy of further penetrating existing markets and entering new markets

Continue to identify generic molecules going off- patent

Investing in preparing dossiers and seeking registrations in own name

Scale up marketing and distribution of biocides with a focus on Europe

Increase biocide registrations

Continue to explore possibilities of partnerships with other companies across jurisdictions

Forward Integration - Build own Sales Force

Leverage market presence and execution capabilities Adopt the factory-to-farmer approach and be a one-stop solution provider Strategy on-ground in Mexico Colombia Hungary Spain Poland Italy Portugal USA amp India

15

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

16

ABOUT US OUR PRESENCE

Agrochemical Operations

Diversified business operations across the globe leading to reduced risk of adverse market and seasonal conditions

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800

17

FOR FURTHER QUERIES

THANK YOU

Mr Nilesh Dalvi Mr Yashesh Parekh IR Consultant Email nileshdalvidickensonircom yasheshparekhdickensonircom Contact No +91 9819289131 8108321555

Mr Conrad Fernandes Chief Financial Officer Email cfernandesshardaintlcom Contact No +91 22 6678 2800