Coromandel International Ltd
Coromandel International Ltd is one of India's leading agri solutions provider. It offers a diverse range of products and services across the farming value chain. It specializes in fertilizers, crop protein, bio pesticide, specialty nutrients, organic fertilizers, etc.[1]
Revenue Breakup
The company's business is divided among 2 main segments i.e. nutrient and other allied products (~85% of revenues) and crop protection (~15% of revenues).[2]
Fertilizers Business
The company sells various types of phosphatic fertilizers in the domestic market. It has ~40% share in the unique grade fertilizer sales in India. Overall, it is the 2nd largest phosphatic seller in India and largest single super phosphate (SSP) seller with a market share of ~15%.[3] It has a leading position in the states of Andhra Pradesh and Telangana; India's largest complex-fertiliser markets.[4]
Crop Protection Business
Under this business, the company sells a wide range of crop protection products under its 60+ brands based portfolio. It is 3rd largest manufacturer of mancozeb globally and exports accounts for ~37% of revenues of the business.[5]
Biologicals Business
The company has a rich product pipeline with research on compounds from plant extracts and microbial bio-pesticides. It is a leading manufacturer of azadirachtin in the world with ~65% export share. It exports to USA, Canada and Europe.[6]
- Market Cap ₹ 28,314 Cr.
- Current Price ₹ 963
- High / Low ₹ 1,094 / 838
- Stock P/E 14.1
- Book Value ₹ 269
- Dividend Yield 1.26 %
- ROCE 38.4 %
- ROE 28.2 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 23.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
- Company has been maintaining a healthy dividend payout of 22.4%
- Company's working capital requirements have reduced from 47.6 days to 36.9 days
Cons
- Promoter holding has decreased over last 3 years: -4.23%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Fertilizers Industry: Fertilizers
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
9,902 | 9,034 | 10,053 | 11,306 | 11,481 | 10,031 | 11,083 | 13,225 | 13,137 | 14,182 | 19,111 | 29,628 | |
8,794 | 8,264 | 9,246 | 10,450 | 10,712 | 9,048 | 9,822 | 11,775 | 11,400 | 12,193 | 16,954 | 26,726 | |
Operating Profit | 1,107 | 770 | 808 | 856 | 769 | 983 | 1,261 | 1,450 | 1,737 | 1,989 | 2,156 | 2,902 |
OPM % | 11% | 9% | 8% | 8% | 7% | 10% | 11% | 11% | 13% | 14% | 11% | 10% |
-10 | 68 | 46 | 50 | 87 | 54 | 55 | 8 | 35 | 76 | 141 | 171 | |
Interest | 126 | 210 | 240 | 210 | 221 | 224 | 178 | 251 | 235 | 106 | 75 | 190 |
Depreciation | 60 | 71 | 96 | 105 | 106 | 101 | 99 | 114 | 158 | 173 | 173 | 182 |
Profit before tax | 911 | 557 | 517 | 592 | 529 | 712 | 1,038 | 1,093 | 1,379 | 1,786 | 2,050 | 2,701 |
Tax % | 30% | 22% | 29% | 32% | 32% | 33% | 33% | 34% | 23% | 26% | 25% | 25% |
Net Profit | 635 | 434 | 365 | 402 | 357 | 477 | 691 | 720 | 1,065 | 1,329 | 1,528 | 2,013 |
EPS in Rs | 22.61 | 15.26 | 12.59 | 13.80 | 12.27 | 16.35 | 23.64 | 24.63 | 36.36 | 45.30 | 52.08 | 68.46 |
Dividend Payout % | 31% | 29% | 36% | 33% | 33% | 31% | 27% | 26% | 33% | 26% | 23% | 18% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 22% |
3 Years: | 31% |
TTM: | 55% |
Compounded Profit Growth | |
---|---|
10 Years: | 17% |
5 Years: | 24% |
3 Years: | 23% |
TTM: | 31% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 17% |
3 Years: | 13% |
1 Year: | 1% |
Return on Equity | |
---|---|
10 Years: | 24% |
5 Years: | 27% |
3 Years: | 28% |
Last Year: | 28% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
28 | 28 | 28 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | |
Reserves | 2,372 | 2,168 | 2,253 | 2,173 | 2,605 | 2,862 | 2,867 | 3,329 | 4,288 | 5,121 | 6,329 | 7,878 |
2,943 | 2,946 | 1,843 | 2,288 | 2,677 | 2,228 | 2,728 | 2,954 | 2,019 | 385 | 395 | 393 | |
2,621 | 3,270 | 3,481 | 3,872 | 3,871 | 3,526 | 4,224 | 4,261 | 3,812 | 3,360 | 4,532 | 5,934 | |
Total Liabilities | 7,965 | 8,412 | 7,605 | 8,362 | 9,182 | 8,645 | 9,848 | 10,574 | 10,149 | 8,895 | 11,285 | 14,235 |
1,296 | 1,856 | 1,734 | 1,380 | 1,320 | 1,328 | 1,327 | 1,309 | 2,032 | 2,015 | 2,092 | 2,223 | |
CWIP | 527 | 420 | 74 | 46 | 42 | 22 | 48 | 191 | 65 | 90 | 141 | 376 |
Investments | 150 | 160 | 342 | 352 | 477 | 388 | 221 | 201 | 211 | 214 | 243 | 287 |
5,993 | 5,976 | 5,455 | 6,583 | 7,343 | 6,907 | 8,252 | 8,873 | 7,840 | 6,576 | 8,809 | 11,348 | |
Total Assets | 7,965 | 8,412 | 7,605 | 8,362 | 9,182 | 8,645 | 9,848 | 10,574 | 10,149 | 8,895 | 11,285 | 14,235 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
95 | 985 | 1,461 | 86 | 18 | 915 | 263 | 526 | 1,862 | 4,150 | 2,078 | 591 | |
-794 | -640 | -81 | -216 | -61 | -79 | 38 | -597 | -220 | -1,245 | -1,622 | 639 | |
705 | -929 | -1,344 | -64 | 8 | -864 | -1 | -244 | -1,723 | -2,263 | -443 | -543 | |
Net Cash Flow | 6 | -583 | 35 | -194 | -34 | -28 | 300 | -314 | -82 | 642 | 14 | 687 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 35 | 74 | 54 | 47 | 52 | 59 | 52 | 50 | 48 | 14 | 5 | 7 |
Inventory Days | 92 | 79 | 86 | 96 | 98 | 88 | 109 | 127 | 109 | 98 | 94 | 69 |
Days Payable | 102 | 129 | 132 | 131 | 135 | 150 | 162 | 147 | 135 | 110 | 100 | 83 |
Cash Conversion Cycle | 26 | 24 | 7 | 12 | 15 | -3 | -2 | 30 | 22 | 2 | -1 | -7 |
Working Capital Days | 88 | 94 | 55 | 77 | 106 | 121 | 116 | 123 | 111 | 65 | 41 | 37 |
ROCE % | 25% | 15% | 17% | 19% | 15% | 18% | 23% | 23% | 26% | 32% | 35% | 38% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
1d - Coromandel International Limited has informed the Exchange regarding allotment of 29700 securities pursuant to ESOP
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 2d
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Jun - Coromandel International Limited has informed the Exchange about Copy of Newspaper Publication pertaining to Proposed Transfer of Equity Shares of the Company to the Investor …
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Compliances-Reg.24(A)-Annual Secretarial Compliance
29 May - Coromandel International Limited has informed the exchange about Annual Secretarial Compliance Report for the year ended March 31, 2023
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 25 May
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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May 2023Transcript PPT
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Feb 2023TranscriptPPT
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Nov 2022Transcript PPT
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Oct 2018Transcript PPT
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Nov 2017Transcript PPT
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Nov 2016Transcript PPT
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Jul 2016TranscriptPPT
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Apr 2016TranscriptPPT
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Jan 2016TranscriptPPT
Revenue Breakup
The company's business is divided into 2 main segments i.e. nutrient and other allied products (~87% of revenues) and crop protection (~13% of revenues). [1]