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Buy Coromandel International; target of Rs 910: Emkay Global Financial

Emkay Global Financial is bullish on Coromandel International has recommended buy rating on the stock with a target price of Rs 910 in its research report dated July 16, 2020.

July 20, 2020 / 12:29 PM IST
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Emkay Global Financial's report on Coromandel International

CRIN has increased its R&D spends by 25% in FY20. CRIN's R&D spending is mainly for new product development in the crop protection (CP) segment. Since FY19, CRIN has been accelerating R&D spends. R&D spends increased 62%/25% in FY19/20. R&D spends now account for 1.2% of CRIN's CP revenues in FY20 vs. 0.6%/0.9% in FY18/19. We believe that accelerated investments augur well for CRIN in the medium term and accelerate the pace of new product launches. CRIN aims to launch 4-5 new products in the CP segment every year which indicates the company's robust pipeline.


We maintain Buy on CRIN with a TP of Rs910, based on 19x Jun-22E EPS.

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: Jul 20, 2020 12:29 pm

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