Coromandel International Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 25523.95 Crore) operating in Fertilisers sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2871.72 Crore, down -18.92 % from last quarter Total Income of Rs 3541.87 Crore and down -.32 % from last year same quarter Total Income of Rs 2880.82 Crore. Company reported net profit after tax of Rs 156.09 Crore in latest quarter.
Investment Rationale
The key levers that would drive growth going forward include: i) CRIN’s focus on increasing penetration in existing markets, ii) debottlenecking to increase capacity, iii) efforts to lower the cost of raw material – while maintaining the same level of quality – and establish an alternative sourcing destination (which would aid in cost savings), iv) launch of 3-4 molecules in the Crop Protection segment, v) inorganic growth, and vi) focus on profitable growth in the Retail business by reorganizing stores depending on consumption patterns. The structural story remains intact with regard to increasing awareness among farmers about having balanced nutrients in crops. This is likely to aid the shift to complex Fertilizers from urea, of which CRIN would be a key beneficiary.
Promoter/FII Holdings
Promoters held 57.6 per cent stake in the company as of March 31, 2021, while FIIs held 7.7 per cent, DIIs 20.6 and public and others 14.1 per cent.
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