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Buy Coromandel International; target of Rs 1050: Motilal Oswal

Motilal Oswal is bullish on Coromandel International recommended buy rating on the stock with a target price of Rs 1050 in its research report dated July 27, 2021.

August 06, 2021 / 01:47 PM IST
 
 
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Motilal Oswal's research report on Coromandel International


CRIN reported a strong operating performance in 1QFY22 on the back of gross margin expansion, due to diversified sourcing, backward integration, cost efficiency, and inventory gain. Sustainability of gross margin and volume growth remains a key monitorable going forward. Factoring better-than-expected earnings, we have increased our FY22E/FY23E PAT estimate by 5%/1%. We maintain our Buy rating.


Outlook


We expect revenue/EBITDA/PAT CAGR of 10%/10%/13% over FY21-23E. We value CRIN at 18x FY23E EPS to arrive at our TP of INR1,050. We maintain our Buy rating.


For all recommendations report, click here


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Broker Research
first published: Aug 2, 2021 04:37 pm

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