Coromandel International Ltd
Coromandel International Ltd is one of India's leading agri solutions provider. It offers a diverse range of products and services across the farming value chain. It specializes in fertilizers, crop protein, bio pesticide, specialty nutrients, organic fertilizers, etc.[1]
Revenue Breakup
The company's business is divided among 2 main segments i.e. nutrient and other allied products (~85% of revenues) and crop protection (~15% of revenues).[2]
Fertilizers Business
The company sells various types of phosphatic fertilizers in the domestic market. It has ~40% share in the unique grade fertilizer sales in India. Overall, it is the 2nd largest phosphatic seller in India and largest single super phosphate (SSP) seller with a market share of ~15%.[3] It has a leading position in the states of Andhra Pradesh and Telangana; India's largest complex-fertiliser markets.[4]
Crop Protection Business
Under this business, the company sells a wide range of crop protection products under its 60+ brands based portfolio. It is 3rd largest manufacturer of mancozeb globally and exports accounts for ~37% of revenues of the business.[5]
Biologicals Business
The company has a rich product pipeline with research on compounds from plant extracts and microbial bio-pesticides. It is a leading manufacturer of azadirachtin in the world with ~65% export share. It exports to USA, Canada and Europe.[6]
- Market Cap ₹ 49,177 Cr.
- Current Price ₹ 1,669
- High / Low ₹ 1,792 / 1,025
- Stock P/E 33.2
- Book Value ₹ 348
- Dividend Yield 0.36 %
- ROCE 27.1 %
- ROE 19.8 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 17.5%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Fertilizers Industry: Fertilizers
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
8,560 | 9,381 | 11,285 | 11,473 | 10,021 | 11,065 | 13,204 | 13,117 | 14,156 | 19,088 | 29,610 | 22,029 | 21,496 | |
7,823 | 8,640 | 10,429 | 10,705 | 9,039 | 9,814 | 11,760 | 11,385 | 12,182 | 17,046 | 26,692 | 19,622 | 19,378 | |
Operating Profit | 737 | 741 | 856 | 768 | 982 | 1,251 | 1,444 | 1,732 | 1,974 | 2,042 | 2,918 | 2,407 | 2,117 |
OPM % | 9% | 8% | 8% | 7% | 10% | 11% | 11% | 13% | 14% | 11% | 10% | 11% | 10% |
65 | 46 | 49 | 88 | 53 | 54 | 6 | 32 | 70 | 136 | 175 | 273 | 318 | |
Interest | 177 | 211 | 209 | 221 | 224 | 178 | 251 | 235 | 106 | 75 | 189 | 185 | 219 |
Depreciation | 59 | 82 | 103 | 106 | 100 | 99 | 113 | 157 | 172 | 172 | 181 | 222 | 250 |
Profit before tax | 566 | 494 | 592 | 529 | 712 | 1,028 | 1,086 | 1,371 | 1,766 | 1,931 | 2,722 | 2,272 | 1,967 |
Tax % | 22% | 30% | 32% | 32% | 33% | 33% | 34% | 23% | 26% | 27% | 25% | 24% | |
444 | 345 | 403 | 358 | 477 | 685 | 714 | 1,059 | 1,313 | 1,412 | 2,035 | 1,719 | 1,479 | |
EPS in Rs | 15.69 | 12.18 | 13.84 | 12.28 | 16.35 | 23.42 | 24.40 | 36.15 | 44.74 | 48.12 | 69.20 | 58.40 | 50.22 |
Dividend Payout % | 29% | 37% | 33% | 33% | 31% | 28% | 27% | 33% | 27% | 25% | 17% | 10% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 11% |
3 Years: | 16% |
TTM: | -19% |
Compounded Profit Growth | |
---|---|
10 Years: | 17% |
5 Years: | 19% |
3 Years: | 9% |
TTM: | -29% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 29% |
3 Years: | 29% |
1 Year: | 52% |
Return on Equity | |
---|---|
10 Years: | 23% |
5 Years: | 25% |
3 Years: | 24% |
Last Year: | 20% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 28 | 28 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
Reserves | 2,147 | 2,205 | 2,135 | 2,474 | 2,783 | 2,898 | 3,405 | 4,360 | 5,183 | 6,269 | 7,839 | 9,374 | 10,220 |
2,270 | 1,518 | 2,282 | 2,677 | 2,231 | 2,731 | 2,957 | 2,022 | 385 | 395 | 392 | 438 | 504 | |
2,901 | 3,311 | 3,862 | 3,866 | 3,520 | 4,215 | 4,257 | 3,807 | 3,351 | 4,520 | 5,931 | 5,841 | 6,089 | |
Total Liabilities | 7,347 | 7,062 | 8,309 | 9,046 | 8,563 | 9,873 | 10,647 | 10,218 | 8,948 | 11,213 | 14,191 | 15,682 | 16,843 |
1,142 | 1,211 | 1,365 | 1,315 | 1,324 | 1,324 | 1,307 | 2,023 | 2,007 | 2,083 | 2,192 | 2,777 | 3,086 | |
CWIP | 28 | 27 | 46 | 42 | 22 | 48 | 190 | 65 | 89 | 141 | 398 | 226 | 159 |
Investments | 880 | 744 | 352 | 370 | 334 | 288 | 321 | 335 | 334 | 267 | 220 | 1,118 | 1,393 |
5,298 | 5,080 | 6,545 | 7,319 | 6,883 | 8,213 | 8,830 | 7,795 | 6,518 | 8,722 | 11,381 | 11,561 | 12,205 | |
Total Assets | 7,347 | 7,062 | 8,309 | 9,046 | 8,563 | 9,873 | 10,647 | 10,218 | 8,948 | 11,213 | 14,191 | 15,682 | 16,843 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
998 | 1,452 | 85 | 18 | 917 | 253 | 513 | 1,867 | 4,125 | 2,093 | 560 | 1,462 | |
-594 | -23 | -220 | -62 | -72 | 44 | -597 | -219 | -1,240 | -1,647 | 656 | -1,321 | |
-984 | -1,360 | -67 | 9 | -862 | -1 | -244 | -1,726 | -2,264 | -442 | -543 | -412 | |
Net Cash Flow | -579 | 68 | -201 | -36 | -17 | 297 | -328 | -79 | 621 | 4 | 674 | -272 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 69 | 50 | 46 | 52 | 59 | 52 | 51 | 48 | 14 | 5 | 7 | 23 |
Inventory Days | 71 | 86 | 96 | 98 | 89 | 108 | 127 | 109 | 98 | 94 | 69 | 101 |
Days Payable | 123 | 133 | 131 | 135 | 150 | 162 | 147 | 135 | 110 | 101 | 83 | 119 |
Cash Conversion Cycle | 16 | 4 | 11 | 15 | -3 | -2 | 30 | 22 | 2 | -2 | -7 | 6 |
Working Capital Days | 87 | 53 | 77 | 106 | 120 | 116 | 123 | 110 | 65 | 41 | 39 | 50 |
ROCE % | 16% | 18% | 20% | 15% | 18% | 23% | 23% | 25% | 31% | 33% | 39% | 27% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1d - Transcript of Q2 FY25 earnings conference call uploaded.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
25 Oct - Audio recording of conference call uploaded.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
25 Oct - Newspaper publication pertaining to unaudited financial results for the quarter and half year ended September 30, 2024
-
Disclosure Under Regulations 30 Of SEBI (LODR) Regulations, 2015
24 Oct - Company fined Rs.50,000 for legal metrology violations.
-
Disclosure Pursuant To Regulation 31(A)(8)(D) Of SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015 And Amendments Thereof - Reclassification Approval
24 Oct - Approval for reclassification of promoters to public category.
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from nse
-
Financial Year 2011
from bse
Concalls
-
Nov 2024TranscriptPPT
-
Aug 2024Transcript PPT
-
May 2024Transcript PPT REC
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Aug 2023TranscriptPPT
-
May 2023Transcript PPT
-
Feb 2023TranscriptPPT
-
Nov 2022Transcript PPT
-
Aug 2022TranscriptPPT
-
Jul 2021TranscriptPPT
-
Apr 2021TranscriptPPT
-
Jan 2021TranscriptPPT
-
Nov 2020TranscriptPPT
-
Jul 2020TranscriptPPT
-
May 2020TranscriptPPT
-
Jan 2020TranscriptPPT
-
Oct 2019TranscriptPPT
-
Aug 2019TranscriptNotesPPT
-
Jul 2019TranscriptPPT
-
Apr 2019TranscriptPPT
-
Jan 2019TranscriptPPT
-
Oct 2018TranscriptPPT
-
Aug 2018TranscriptNotesPPT
-
Jul 2018TranscriptPPT
-
Jun 2018TranscriptNotesPPT
-
Apr 2018TranscriptPPT
-
Jan 2018TranscriptPPT
-
Nov 2017Transcript PPT
-
Jul 2017TranscriptPPT
-
Apr 2017TranscriptPPT
-
Jan 2017TranscriptPPT
-
Nov 2016Transcript PPT
-
Jul 2016TranscriptPPT
-
Apr 2016TranscriptPPT
-
Jan 2016TranscriptPPT
Business Segments
1) Crop Nutrition (89% in Q1 FY25 vs 87% in FY22): [1] [2] This segment includes products like: