Coromandel International Ltd

Coromandel Inter Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Coromandel International Ltd

₹ 1,774 0.38%
22 Nov 10:22 a.m.
coromandel.biz BSE: 506395 NSE: COROMANDEL
About

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]

Key Points

Business Segments
1) Crop Nutrition (89% in Q1 FY25 vs 87% in FY22): [1] [2] This segment includes products like:

Website BSE NSE
  • Market Cap ₹ 52,265 Cr.
  • Current Price ₹ 1,774
  • High / Low ₹ 1,802 / 1,025
  • Stock P/E 38.5
  • Book Value ₹ 345
  • Dividend Yield 0.35 %
  • ROCE 26.0 %
  • ROE 18.9 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.0%
  • Company has been maintaining a healthy dividend payout of 17.1%

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

Part of Nifty 500 Nifty LargeMidcap 250 Nifty Midcap150 Quality 50 Nifty 500 Multicap 50:25:25 BSE Allcap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
6,148 5,073 4,227 5,729 10,113 8,310 5,476 5,693 6,988 5,464 3,913 4,729 7,433
5,404 4,529 3,848 5,044 9,056 7,539 5,089 4,988 5,933 5,115 3,650 4,238 6,471
Operating Profit 743 544 379 685 1,057 771 387 706 1,055 349 263 490 962
OPM % 12% 11% 9% 12% 10% 9% 7% 12% 15% 6% 7% 10% 13%
19 28 77 55 32 40 47 44 45 59 84 54 65
Interest 19 18 21 27 54 57 52 41 46 38 62 57 66
Depreciation 42 43 45 45 46 47 45 48 54 64 63 65 69
Profit before tax 701 511 389 669 989 706 337 661 1,000 306 222 422 892
Tax % 26% 25% 26% 25% 25% 25% 27% 25% 25% 25% 26% 27% 26%
519 382 290 499 741 527 246 494 755 228 164 309 659
EPS in Rs 17.70 13.00 9.87 16.99 25.20 17.92 8.38 16.80 25.71 7.85 5.45 10.56 22.55
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
9,034 10,053 11,306 11,481 10,031 11,083 13,225 13,137 14,182 19,111 29,628 22,058 21,539
8,264 9,246 10,450 10,712 9,048 9,822 11,775 11,400 12,193 16,954 26,726 19,678 19,475
Operating Profit 770 808 856 769 983 1,261 1,450 1,737 1,989 2,156 2,902 2,380 2,064
OPM % 9% 8% 8% 7% 10% 11% 11% 13% 14% 11% 10% 11% 10%
68 46 50 87 54 55 8 35 76 141 171 223 261
Interest 210 240 210 221 224 178 251 235 106 75 190 187 223
Depreciation 71 96 105 106 101 99 114 158 173 173 182 229 261
Profit before tax 557 517 592 529 712 1,038 1,093 1,379 1,786 2,050 2,701 2,188 1,841
Tax % 22% 29% 32% 32% 33% 33% 34% 23% 26% 25% 25% 25%
434 365 402 357 477 691 720 1,065 1,329 1,528 2,013 1,641 1,360
EPS in Rs 15.26 12.59 13.80 12.27 16.35 23.64 24.63 36.36 45.30 52.08 68.46 55.78 46.41
Dividend Payout % 29% 36% 33% 33% 31% 27% 26% 33% 26% 23% 18% 11%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 16%
TTM: -19%
Compounded Profit Growth
10 Years: 16%
5 Years: 17%
3 Years: 7%
TTM: -33%
Stock Price CAGR
10 Years: 19%
5 Years: 31%
3 Years: 32%
1 Year: 56%
Return on Equity
10 Years: 23%
5 Years: 25%
3 Years: 24%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 2,168 2,253 2,173 2,605 2,862 2,867 3,329 4,288 5,121 6,329 7,878 9,390 10,126
2,946 1,843 2,288 2,677 2,228 2,728 2,954 2,019 385 395 393 492 580
3,270 3,481 3,872 3,871 3,526 4,224 4,261 3,812 3,360 4,532 5,934 5,933 6,238
Total Liabilities 8,412 7,605 8,362 9,182 8,645 9,848 10,574 10,149 8,895 11,285 14,235 15,845 16,973
1,856 1,734 1,380 1,320 1,328 1,327 1,309 2,032 2,015 2,092 2,200 3,112 3,433
CWIP 420 74 46 42 22 48 191 65 90 141 399 235 162
Investments 160 342 352 477 388 221 201 211 214 243 287 854 943
5,976 5,455 6,583 7,343 6,907 8,252 8,873 7,840 6,576 8,809 11,348 11,644 12,436
Total Assets 8,412 7,605 8,362 9,182 8,645 9,848 10,574 10,149 8,895 11,285 14,235 15,845 16,973

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
985 1,461 86 18 915 263 526 1,862 4,150 2,078 591 1,428
-640 -81 -216 -61 -79 38 -597 -220 -1,245 -1,622 640 -1,333
-929 -1,344 -64 8 -864 -1 -244 -1,723 -2,263 -443 -543 -363
Net Cash Flow -583 35 -194 -34 -28 300 -314 -82 642 14 688 -269

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 74 54 47 52 59 52 50 48 14 5 7 23
Inventory Days 79 86 96 98 88 109 127 109 98 94 69 102
Days Payable 129 132 131 135 150 162 147 135 110 100 83 119
Cash Conversion Cycle 24 7 12 15 -3 -2 30 22 2 -1 -7 6
Working Capital Days 94 55 77 106 121 116 123 111 65 41 37 47
ROCE % 14% 16% 19% 15% 18% 23% 23% 26% 32% 35% 38% 26%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
57.53% 57.53% 57.48% 57.45% 57.41% 57.41% 57.41% 57.34% 57.33% 57.33% 57.32% 57.17%
7.21% 7.08% 8.04% 9.93% 10.26% 9.40% 7.56% 7.18% 7.71% 7.34% 7.52% 7.79%
21.74% 21.23% 20.06% 18.65% 18.00% 18.86% 20.59% 21.11% 20.22% 20.63% 20.79% 21.26%
13.52% 14.17% 14.43% 13.97% 14.34% 14.33% 14.46% 14.37% 14.74% 14.70% 14.39% 13.77%
No. of Shareholders 1,14,6771,15,4401,39,6671,42,7521,33,7581,32,1031,32,3441,23,6391,26,6281,36,4121,36,4971,41,349

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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