Sharda Cropchem was incorporated as Sharda Worldwide Exports Private Limited on March 12, 2004 as a Private Limited Company. The Company changed its name to Sharda Cropchem Private Limited on Septembe
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r 6, 2013. Thereafter, it was converted into a Public Limited Company on September 18, 2013 and consequently, name of the Company was changed to Sharda Cropchem Limited.
With a unique asset-light business model, the Company is one of the fastest-growing global agrochemical companies, engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. It has a strong foothold in the advanced economies of European countries and US markets. Additionally, the Company has penetrated the regulated markets of LATAM and the Rest of the World.
The Company has two business verticals, namely agrochemicals and non-agrochemicals. The Company is primarily a crop protection chemical company engaged in the marketing and distribution of a wide range of formulations and generic Active Ingredients (AIs) across Fungicides, Herbicides and Insecticides. The Company operates across Europe, the NAFTA region, Latin America and the rest of the world. Under the Non-Agrochemical division, it is involved in the order-based procurement and supply of belts, general chemicals, dyes and dye intermediates. Sharda Cropchem sources these nonagrochemical products, from Chinese or Indian manufacturers and supplies to over 30 countries across Europe, North America, Latin America, Australia, and Asia
The Company prioritizes the identification of generic molecules and registration opportunities; the preparation of dossiers; and the obtaining registrations for formulations and other active ingredients. To provide this wide range of chemicals, the company procures formulations in their finished form, as well as engaging with third part formulations. This lends to the versatility and agility of the company's supply chain, while simultaneously widening its customer base.
With an objective to increase the Company's presence in the agrochemical value chain, Sharda Cropchem has set up its own sales force in Europe, Mexico, Colombia, South Africa, India, and other jurisdictions. This is in addition to third party distributors.
The company is also involved in the order-based procurement and supply of non-agrochemical products. These include belts, general chemicals, dyes and dye intermediates. It procures these non-agrochemical products from manufacturers predominantly in China and supplies them to over 35 countries in Australia, Asia, Europe, North America and Latin America.
Sharda R. Bubna and Ramprakash V. Bubna are promoters of the company. They commenced operations in dealing with dyes and dyes intermediates through their sole proprietorship concerns, namely, M/s. Sharda International in 1987 and M/s. Bubna Enterprises in 1989, respectively. The company, pursuant to a resolution passed by Board of Directors on April 6, 2004, approved the transfer of the entire business of the Sole Proprietary Concerns to our Company. The businesses of the Sole Proprietary Concerns, consisting of manufacture and export of dyes, dye intermediates, pesticides, agrochemicals and V-Belts, were transferred to the Company on 2004.
The Company ventured into the biocide segment in 2012.
In September 2014, Sharda Cropchem made an Initial Public Offer (IPO) through an offer for sale, wherein M/s. HEP Mauritius Limited (Private Equity Investor) offered its entire holding and two promoter shareholders offered a part of their holdings. The offer for sale was for 22,555,124 equity shares which constituted 25% of the post offer paid up equity share capital of the company. The offer for sale received an overwhelming response and was oversubscribed 51.21 times. The company's shares got listed on 23 September 2014.
During the financial year ended 31 March 2015, the company received 259 new product registrations. The total number of registrations increased to 1,409 as of 31st March 2015 as compared to 1,150 as of 31st March, 2014. During the year, the company achieved a new high in its revenue from operations on consolidated basis crossing the Rs100,000 Lacs milestone.
During the financial year ended 31 March 2016, the company received 356 new product registrations of which 64% are in the European Union. Sharda Cropchem's subsidiary company in Russia, Shardarus LLC was dissolved with effect from December 02, 2015. The company acquired 100% stake of Nihon Agro Service Kabushiki Kaisha, Japan with effect from March 23, 2016. Nihon Agro Service Kabushiki Kaisha, Japan is engaged in the business of dealing in agrochemical products in Japan. Sharda Agrochem Dooel Skopje, Macedonia was formed as a 100% subsidiary of the company in the Financial Year 2015-16 for marketing and distribution of agrochemicals in Macedonia. Sharda Cropchem Israel Limited, Israel was formed as a100% subsidiary of the company in the Financial Year 2015-16 as a subsidiary of the company for dealing in agrochemical products in Israel. Sharda Dominicana S.R.L., Dominican Republic was formed as subsidiary of the company in the Financial Year 2015-16 as a subsidiary of the company for dealing in agrochemical products in Dominican Republic. The company holds 99% stake in this subsidiary.
Sharda EL Salvador S. A. DE CV, EL Salvador was formed as subsidiary of the company in the Financial Year 2015-16 as a subsidiary of the company for dealing in agrochemical products in EL Salvador. The company holds 99% stake in this subsidiary.
During the financial year ended 31 March 2017, the company received 409 new product registrations of which 191 are in the European Union region. Sharda Cropchem maintained relationship with multiple manufacturers and formulators in the agrochemical industry (mainly in China and India) to mitigate the risks arising from being dependent on single or limited supplier.
During the financial year ended 31 March 2018, the company achieved an all time performance high in terms of both operating revenues and net profit. The total number of product registrations decreased from 2,174 as of March 31, 2017 to 2,157 as of March 31, 2018. During the year, the company's subsidiary Sharda Chile SpA was dissolved.
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