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Buy Coromandel International; target of Rs 1071: Motilal Oswal

Motilal Oswal is bullish on Coromandel International has recommended buy rating on the stock with a target price of Rs 1071 in its research report dated February 03, 2021.

February 12, 2021 / 04:05 PM IST
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Motilal Oswal's research report on Coromandel International

Coromandel International (CRIN) reported a decent EBITDA performance (on a high base of last year) on the back of margin expansion in Crop Protection and better manufacturing and trading margins in the Fertilizer segment. Increasing phos acid prices (+35% YoY and +15% QoQ) and, consequently, a price hike in complex fertilizers would continue to be the key monitorable. CRIN reported in-line numbers in 3Q; thus, we maintain our estimates for FY21/FY22/FY23E. Maintain Buy.


We expect a revenue/EBITDA/PAT CAGR of 9%/13%/18% over FY20–23E. We value CRIN at 18x FY23E EPS to arrive at TP of INR1,071. Maintain Buy.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 12, 2021 04:05 pm

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