MUMBAI, 27th Jan. 2020 (GNI): Mr. Ray Nishimoto, Representative Director & Executive Vice President, Sumitomo Chemical Japan while addressing the gathering at the listing ceremony of Sumitomo Chemical India Ltd held today in Mumbai at BSE.
MUMBAI, 27th Jan. 2020 (GNI): Mr. Ray Nishimoto, Representative Director & Executive Vice President, Sumitomo Chemical Japan, Mr. Mukul Asher, Chairman & Independent Director, Sumitomo Chemical India Ltd with other dignitaries were present for the gong ceremony at the listing of Sumitomo Chemical India Ltd held today at BSE.
MUMBAI, 27th Jan. 2020 (GNI): Mr. Ray Nishimoto, Representative Director & Executive Vice President, Mr. Mukul Asher, Chairman & Independent Director, Sumitomo Chemical India Ltd, Mr. Nayan Mehta, CFO, BSE with other dignitaries were present for the gong ceremony at the listing of Sumitomo Chemical India Ltd held today at BSE.
MUMBAI, 27th January 2020 (GNI): Sumitomo Chemical India Ltd. (BSE: 542920; NSE: SUMICHEM) (SCIL), one of India’s leading agrochemical companies, today announced the listing of its equity shares on the BSE and NSE. The listing follows the successful completion of the merger of Excel Crop Care with the Company effective from August 31, 2019.
SCIL got listed with the opening bell ringing ceremony at BSE, presided over by Mr. Ray Nishimoto, Representative Director and Executive Vice-President, Sumitomo Chemical Company, Japan (SCC Japan), Mr. Mukul Asher, Chairman, SCIL and Mr. Chetan Shah, Managing Director, SCIL.
Commenting on the occasion, Mr. Ray Nishimoto, Representative Director & Executive Vice President, SCC Japan said, “Today is an important milestone for us and over the last 20 years since we set up our Indian operations, SCIL has built strengths that have helped it become a leading agro-solutions player in India. India is a country with great opportunities and a growing market which is of utmost importance to us, and we are confident SCIL would continue its journey of growth and success in India going forward for a long period of time. SCC Japan and SCIL would continue to partner with Indian famers and support India’s strategic vision towards increasing farmer incomes and achieving food safety for India’s growing middle class population.”
Mr. Mukul Asher, Chairman & Independent Director, Sumitomo Chemical India Ltd said, “I would like to take this opportunity to thank all our stakeholders for their over whelming support, that guided us through this integration process and set us on the path of an exciting new journey. With the core values of “Excellence”, “Customer Focus”, “Integrity”, “People Focus”, “Respect” and “Sustainability” we aim to be a trusted market leader in the coming years. We look upon good Corporate Governance practices as a key driver of sustainable corporate growth, long-term stakeholder value creation and benefiting the society at large.”
Mr. Chetan Shah, Managing Director, Sumitomo Chemical India Ltd said, “The listing on the stock exchanges marks an important step in our growth journey towards creating a leading agrochemical company in India. We will be focused on delivering high quality products, investing in people, technology and innovative solutions and undertake continuous improvements to maximize operational efficiency. We will continue with even greater enthusiasm in our endeavors and with stronger commitment to leverage our competitive advantages, create new opportunities, traverse new boundaries and deliver greater stakeholder value.”
About Sumitomo Chemical India Limited (SCIL) is a leading agrochemicals player in India, primarily engaged in manufacture and sale of speciality and generic products under Agrosolutions Division (ASD), Environmental Health Division (EHD) and Animal Nutrition Division (AND). The Company was incorporated in 2000 as a wholly owned subsidiary of Tokyo listed Sumitomo Chemical Company, Japan to drive expansion of its Health & Crop Sciences business in India.
The Company has 5 strategically located manufacturing facilities in Bhavnagar, Gajod, Tarapur, Vapi and Silvassa. SCIL has strong R&D capabilities with 25+ patents granted across various geographies and a dedicated pool of 75+ engineers and scientists capable of creating new combinations process developments and improvements.
Further, the Company has a strong brand and well-entrenched distribution network spread across 23 states, 68 depots, 13,000+ distributors, 40,000+ dealers.
Recently Excel Crop Care, a leading player engaged in the manufacturing and marketing of Crop Protection, Soil Nutrition, Seed Treatment and Post-Harvest products merged with SCIL, creating a well-diversified platform of scale.
For FY19, the consolidated revenue stood at 2,211.7 crore, EBITDA of Rs 263.5 crore and PAT of Rs. 165.8 crore. For more details visit www.sumichem.co.in.
Safe Harbor statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.ends
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