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Buy Coromandel International; target of Rs 1012: Anand Rathi

Anand Rathi is bullish on Coromandel International has recommended buy rating on the stock with a target price of Rs 1012 in its research report dated November 23, 2021.

November 24, 2021 / 01:51 PM IST
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Anand Rathi's research report on Coromandel International

The company reported consolidated revenue from operations of Rs.61,480 million up by 33.3% year-on-year. Nutrients and Allied business contributed to 89% share and the remaining 11% came from crop protection businesses. In terms of subsidy and non-subsidy share, it came to 84% and 16%, respectively during the quarter. The nutrient and allied business segment revenue grew by 38% over the same period last year. The business has launched a new product GroShakti Plus, a fortified NPK with EnPhos technology coming first towards providing specialized fertilizer and a greener solution to farmers, has gained further momentum in the market. Company registered a good growth in both our specialized nutrition fertilizer and organic products. The main product Gro Plus has gained further traction in the market and is now nearly almost one-third of the sales.


We continue to remain positive on the company on back of its strong business model, high operating cash flows, strong balance sheet, new product launches, fast growing organic nutrients business & agriculture reforms. We maintain our BUY rating on the stock with a target price of Rs.1012 per share.

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: Nov 24, 2021 01:51 pm

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