SUMICHEM

TOKYO, April 1 (Reuters) - Japan's Maruzen Petrochemical, a unit of Cosmo Energy Holdings 5021.T, will shut its ethylene unit in Chiba in the 2026/27 financial year and consolidate production at Keiyo Ethylene, its joint venture with Sumitomo Chemical 4005.T, the companies said on Tuesday.

The move aims to enhance the utilization rate and competitiveness of Keiyo Ethylene, which is 55% owned by Maruzen Petrochemical and 45% by Sumitomo Chemical, the three companies said in a statement.

Japanese ethylene plants have been struggling with low operating rates due to global oversupply driven by large-scale capacity expansions in China, as well as declining domestic demand.

The industry also faces increasing pressure to achieve net-zero carbon emissions through energy transportation.

Against this backdrop, Maruzen Petrochemical and Sumitomo Chemical decided to optimize their ethylene production in the Chiba area, near Tokyo, to cut costs and maintain competitiveness, they said.

Maruzen's Chiba ethylene unit, which started operations in 1969, has an annual production capacity of 525,000 metric tons. Keiyo Ethylene, launched in 1994, has a capacity of 768,000 tons per year.

Japanese oil refiner Idemitsu Kosan and Mitsui Chemicals plan to consolidate their ethylene complexes in Chiba, they said last year.

Ethylene is a petrochemical that is used to produce plastics such as polyethylene for items such as plastic bags and containers.

(Reporting by Yuka Obayashi; Editing by Joe Bavier)

(([email protected]; +813-4520-1265;))

Oct 28 (Reuters) - Sumitomo Chemical India Ltd SUMH.NS:

• SUMITOMO CHEMICAL INDIA LTD SEPT-QUARTER CONSOL NET PAT 1.92 BILLION RUPEES

• SUMITOMO CHEMICAL INDIA LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.88 BILLION RUPEES

Source text: [ID:]

Further company coverage: SUMH.NS

(([email protected];))

** Shares of Coromandel International CORF.NS up 3.3% at a record high of 1,438.2 rupees

** Agro-chemical co says it commissioned a nano fertilizer plant in its existing Kakinada complex with capacity of 2 million metric tonnes

** Trading volume over 730,000 shares, 1.6x the 30-day avg

** Analysts' rating on stock is "buy", in-line peers UPL UPLL.NS and Sumitomo Chemical SUMH.NS - LSEG data

** Including session's gains, stock up ~15% YTD vs ~12% rise in the Nifty 500 index .NIFTY500

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Sumitomo Chemicals India SUMH.NS rise as much 9.1% to highest since Jan 2023

** Stock sees best intraday jump since Feb 2023

** Co on Monday reported rise in Q4 profit, helped by improved demand and lower inventories

** SUMH shares up 20.4% vs 10.5% gains in S&P BSE 500 index .BSE500

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Sumitomo Chemical India SUMH.NS fall ~3% to 403.75 rupees

** Agro chemicals provider reported a 40% slump in Dec-qtr consol net profit

** Analysts' avg rating on SUMH at "buy;" median PT is 442 rupees, 9.5% higher than current price - LSEG data

** Stock down 17% in 2023 after gaining for two straight years

(Reporting by Kashish Tandon)

(([email protected]))

** Indian fertilizer and agro-chemicals companies will likely face challenges for two more quarters on destocking by customers, Kotak Institutional Equities analysts said

** Add volume growth will remain under pressure until (and including) Q1 calendar year 2024 on a yoy basis due to destocking

** Outlook for the winter-sown crop season is somewhat challenging in India, especially in the south, due to lower water levels - brokerage

** Says recovery after Q1 CY2024 is seen only as modest, and the recent softness in corn prices is a worry in terms of end-demand for CY2024

** Ten out of 20 companies in Kotak's coverage universe, including Best Agrolife BESA.NS, Bharat Rasayan BRSN.NS, Coromandel CORF.NS, India Pesticides IDIP.NS, Meghmani Organics MEGH.NS, Sumitomo SUMH.NS and UPL UPLL.NS posted fall in core earnings and revenue in Q2 vs year ago

** Two cos, Astec LifeSciences ASTE.NS and Sharda Cropchem SHCR.NS, reported losses from yr ago profit

(Reporting by Nallur Sethuraman in Bengaluru)

(([email protected]; (+91 8061822737); Reuters Messaging: [email protected]))

Oct 27 (Reuters) - Sumitomo Chemical India Ltd SUMH.NS:

• SEPT-QUARTER CONSOL NET PROFIT 1.43 BILLION RUPEES VERSUS PROFIT 2.01 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.03 BILLION RUPEES VERSUS 11.21 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SUMH.NS

(([email protected];))

Sept 1 (Reuters) - Sumitomo Chemical India Ltd SUMH.NS:

• COMPANY EXECUTED AGREEMENTS FOR ACQUIRING 85% CONTROLLING STAKE IN BARRIX AGRO SCIENCES

• CASH CONSIDERATION NOT EXCEEDING 850 MILLION RUPEES FOR ACQUIRING 85% EQUITY

Source text for Eikon: ID:nBSE1SD8Kw

Further company coverage: SUMH.NS

(([email protected];))

** Shares of agro chemicals provider Sumitomo Chemical India SUMH.NS fall as much as 4.1% to 396.1 rupees, lowest since May 31

** Q1 consol net profit dropped 55.3% to 616.8 million rupees ($7.49 million), rev from ops fell 26.6%

** SUMH trading below its moving average convergence divergence line (MACD), indicating bearish sentiment

** Nearly 229,751 shares change hands by 09:38 a.m. IST vs 0.7x 30-day avg of 309,401 shares

** Analysts covering the stock on average have a "buy" rating; median PT is 482.5 rupees - Refinitiv data

** Stock down 15.4% YTD up to last close

($1 = 82.3000 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

July 31 (Reuters) - Sumitomo Chemical India Ltd SUMH.NS:

• SUMITOMO CHEMICAL INDIA LTD JUNE-QUARTER CONSOL NET PROFIT 616.8 MILLION RUPEES VERSUS PROFIT 1.38 BILLION RUPEES

• SUMITOMO CHEMICAL INDIA LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 7.24 BILLION RUPEES VERSUS 9.86 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SUMH.NS

(([email protected];))

May 18 (Reuters) - Sumitomo Chemical India Ltd SUMH.NS:

• MARCH-QUARTER CONSOL NET PROFIT 721.3 MILLION RUPEES VERSUS PROFIT 746.6 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 6.52 BILLION RUPEES VERSUS 6.64 BILLION RUPEES

• DIVIDEND 1.2 RUPEES PER SHARE

Source text for Eikon: [ID:]

Further company coverage: SUMH.NS

(([email protected];;))