5 reasons Sumitomo Chemical is this week’s stock pick

Sumitomo Chemical India reported strong numbers in the second quarter of 2022-23, helped by domestic and export revenue growth. It is a formidable player in the agrochemicals space with over 200 brands, five manufacturing facilities and more than 16,000 direct distributors. The top line and bottom line grew 23% and 30% on a y-o-y basis. The EBITDA margins rose 120 basis points, lifted by better operating leverage and cost control measures.