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Coromandel International: Strong performance amid challenges

An improved product mix is a positive for Coromandel International's margins in the longer term

July 28, 2020 / 10:37 AM IST
Coromandel International: Strong performance amid challenges

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Coromandel International (CMP: Rs 785, Mcap: Rs 22,928 crore) has put up a strong show in Q1 despite a challenging environment. The current turmoil impacted its performance in April. However, operations are now getting back to normal. The stock has seen a decent run in the past few weeks and is trading close to its 52-week high, though valuations seem to be tad on the higher side. With consistent revenue growth, a decent return on capital employed (around 23 per cent), a...

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