Coromandel International Ltd

Coromandel International is engaged in the business of farm inputs comprising of fertiliser, crop protection, specialty nutrients and organic compost.

Pros:
Promoter's stake has increased
Company has been maintaining a healthy dividend payout of 30.61%
Cons:
The company has delivered a poor growth of 3.92% over past five years.
Company might be capitalizing the interest cost

Peer Comparison Sector: Fertilizers // Industry: Fertilizers

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018
2,747 3,012 2,017 3,519 2,235 2,259 2,261 3,675 2,695 2,412 2,528 5,008
2,580 2,813 1,929 3,135 1,998 1,987 2,092 3,101 2,377 2,227 2,315 4,342
Operating Profit 167 200 88 385 237 272 169 575 318 185 214 666
OPM % 6% 7% 4% 11% 11% 12% 7% 16% 12% 8% 8% 13%
Other Income 39 12 13 18 12 13 13 18 12 17 9 -10
Interest 54 57 65 59 53 47 44 41 42 51 64 70
Depreciation 25 27 24 25 26 25 25 25 25 24 26 26
Profit before tax 127 127 11 319 170 212 112 526 264 127 132 560
Tax % 36% 27% 33% 33% 34% 32% 35% 34% 35% 30% 32% 35%
Net Profit 81 92 7 213 112 144 73 349 172 90 90 366
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
2,067 3,757 9,375 6,395 7,639 9,902 9,034 10,053 11,306 11,481 10,031 10,947 12,643
1,866 3,343 8,696 5,680 6,546 8,794 8,264 9,246 10,450 10,715 9,048 9,716 11,261
Operating Profit 201 414 679 715 1,093 1,107 770 808 856 767 983 1,231 1,383
OPM % 10% 11% 7% 11% 14% 11% 9% 8% 8% 7% 10% 11% 11%
Other Income 34 42 338 131 43 -10 68 46 50 89 54 54 28
Interest 32 70 88 78 89 126 210 240 210 221 224 178 227
Depreciation 40 52 56 59 62 60 71 96 105 106 101 98 100
Profit before tax 162 334 873 709 986 911 557 517 592 529 712 1,009 1,084
Tax % 28% 37% 36% 34% 30% 30% 22% 29% 32% 32% 33% 34%
Net Profit 117 210 560 468 694 639 432 357 402 357 477 664 718
EPS in Rs 4.42 7.21 19.14 15.83 23.46 21.47 14.45 11.83 12.88 12.27 16.35 22.70
Dividend Payout % 22% 23% 25% 30% 28% 31% 29% 36% 33% 33% 31% 29%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:11.29%
5 Years:3.92%
3 Years:-1.07%
TTM:21.22%
Compounded Profit Growth
10 Years:12.19%
5 Years:8.98%
3 Years:17.91%
TTM:5.94%
Return on Equity
10 Years:24.29%
5 Years:17.82%
3 Years:18.13%
TTM:22.14%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
26 28 28 28 28 28 28 28 29 29 29 29 29
Reserves 526 768 1,184 1,473 1,929 2,372 2,168 2,253 2,173 2,605 2,862 3,097 3,198
Borrowings 549 1,043 1,771 2,047 1,562 2,943 2,946 1,843 2,288 2,677 2,228 2,728 2,132
678 931 1,859 1,099 2,020 2,664 3,315 3,528 3,905 3,918 3,588 3,956 4,608
Total Liabilities 1,778 2,770 4,841 4,648 5,539 8,008 8,457 7,652 8,394 9,229 8,707 9,811 9,967
376 729 769 811 801 1,296 1,856 1,734 1,380 1,320 1,328 1,305 1,331
CWIP 11 11 28 146 303 527 420 74 46 42 22 46 74
Investments 212 72 221 169 171 150 160 342 352 477 388 221 241
1,179 1,958 3,824 3,521 4,264 6,036 6,021 5,501 6,616 7,390 6,969 8,238 8,322
Total Assets 1,778 2,770 4,841 4,648 5,539 8,008 8,457 7,652 8,394 9,229 8,707 9,811 9,967

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
122 325 16 693 796 95 985 1,461 86 18 915 256
-23 -207 -166 -214 -109 -794 -640 -81 -216 -61 -79 41
43 -184 468 57 -689 705 -929 -1,344 -64 8 -864 -1
Net Cash Flow 142 -66 318 535 -2 6 -583 35 -194 -34 -28 295

Ratios Consolidated / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 20% 28% 41% 24% 31% 25% 15% 17% 19% 15% 18% 22%
Debtor Days 28 10 4 8 10 35 74 54 47 52 59 51
Inventory Turnover 5.16 5.92 8.48 5.62 6.26 5.76 5.32 6.22 5.64 4.99 4.93 5.54