Coromandel International Ltd

About [ edit ]

Coromandel International Limited is an Indian corporation founded in the early 1960s by IMC and Chevron Companies of USA and EID Parry, headquartered in Hyderabad, Telangana, India. Originally named Coromandel Fertilisers, the company is in the business of fertilizers, pesticides and specialty nutrients.

  • Market Cap 22,687 Cr.
  • Current Price 774
  • High / Low 881 / 590
  • Stock P/E 17.1
  • Book Value 176
  • Dividend Yield 1.55 %
  • ROCE 33.0 %
  • ROE 28.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 31.11% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.82%
  • Company has been maintaining a healthy dividend payout of 28.63%

Cons

  • The company has delivered a poor sales growth of 4.36% over past five years.
  • Promoter holding has decreased over last 3 years: -4.25%

Peer comparison

Sector: Fertilizers Industry: Fertilizers

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
2,528 5,008 3,049 2,638 2,131 4,858 3,279 2,869 3,213 4,611 3,533 2,856
2,315 4,342 2,746 2,379 1,936 4,145 2,847 2,479 2,801 3,768 3,034 2,595
Operating Profit 214 666 304 259 195 713 432 391 412 843 499 261
OPM % 8% 13% 10% 10% 9% 15% 13% 14% 13% 18% 14% 9%
Other Income 9 -10 11 5 10 10 9 12 13 10 10 16
Interest 64 70 51 65 80 66 46 43 43 25 21 16
Depreciation 26 26 27 35 30 42 41 45 42 42 42 47
Profit before tax 132 560 236 164 95 615 354 314 340 786 447 213
Tax % 32% 35% 35% 33% 34% 18% 25% 25% 26% 25% 25% 27%
Net Profit 90 366 154 110 62 504 265 234 251 589 334 156
EPS in Rs 3.09 12.50 5.28 3.77 2.13 17.22 9.04 7.99 8.55 20.09 11.38 5.31

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
6,395 7,639 9,902 9,034 10,053 11,306 11,481 10,031 11,083 13,225 13,137 14,213
5,680 6,546 8,794 8,264 9,246 10,450 10,715 9,048 9,823 11,775 11,400 12,198
Operating Profit 715 1,093 1,107 770 808 856 767 983 1,260 1,450 1,736 2,016
OPM % 11% 14% 11% 9% 8% 8% 7% 10% 11% 11% 13% 14%
Other Income 131 43 -10 68 46 50 89 54 56 8 35 49
Interest 78 89 126 210 240 210 221 224 178 251 235 106
Depreciation 59 62 60 71 96 105 106 101 99 114 158 173
Profit before tax 709 986 911 557 517 592 529 712 1,038 1,093 1,379 1,786
Tax % 34% 30% 30% 22% 29% 32% 32% 33% 33% 34% 23% 26%
Net Profit 468 694 639 432 357 402 357 477 691 720 1,065 1,329
EPS in Rs 16.67 24.62 22.61 15.26 12.59 13.80 12.27 16.35 23.64 24.63 36.36 45.30
Dividend Payout % 30% 28% 31% 29% 36% 33% 33% 31% 27% 26% 33% 26%
Compounded Sales Growth
10 Years:6%
5 Years:4%
3 Years:9%
TTM:8%
Compounded Profit Growth
10 Years:6%
5 Years:31%
3 Years:24%
TTM:24%
Stock Price CAGR
10 Years:9%
5 Years:28%
3 Years:20%
1 Year:28%
Return on Equity
10 Years:23%
5 Years:25%
3 Years:27%
Last Year:28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
28 28 28 28 28 29 29 29 29 29 29 29
Reserves 1,473 1,929 2,372 2,168 2,253 2,173 2,605 2,862 2,867 3,329 4,288 5,121
Borrowings 2,047 1,562 2,943 2,946 1,843 2,288 2,677 2,228 2,728 2,954 1,625 385
1,089 2,010 2,621 3,270 3,481 3,872 3,871 3,526 4,224 4,261 4,206 3,360
Total Liabilities 4,637 5,529 7,965 8,412 7,605 8,362 9,182 8,645 9,848 10,574 10,149 8,896
811 801 1,296 1,856 1,734 1,380 1,320 1,328 1,327 1,309 2,032 2,030
CWIP 146 303 527 420 74 46 42 22 48 191 65 76
Investments 169 171 150 160 342 352 477 388 221 201 211 214
3,510 4,254 5,993 5,976 5,455 6,583 7,343 6,907 8,252 8,873 7,840 6,577
Total Assets 4,637 5,529 7,965 8,412 7,605 8,362 9,182 8,645 9,848 10,574 10,149 8,896

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
693 796 95 985 1,461 86 18 915 263 526 1,862 4,150
-214 -109 -794 -640 -81 -216 -61 -79 38 -597 -220 -1,257
57 -689 705 -929 -1,344 -64 8 -864 -1 -244 -1,723 -2,263
Net Cash Flow 535 -2 6 -583 35 -194 -34 -28 300 -314 -82 630

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 24% 31% 25% 15% 17% 19% 15% 18% 23% 23% 26% 33%
Debtor Days 8 10 35 74 54 47 52 59 52 50 48 14
Inventory Turnover 4.33 4.71 4.48 4.11 4.76 4.42 3.88 3.60 3.93 3.48 3.14 3.66

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
61.80 61.80 61.80 61.78 61.72 61.72 61.69 61.63 59.60 59.58 57.58 57.56
4.36 3.76 3.59 4.13 4.25 3.39 3.54 3.50 4.26 5.86 7.04 7.73
12.11 12.80 13.56 13.78 14.01 18.55 18.50 19.71 21.28 19.70 19.15 20.59
21.72 21.63 21.05 20.31 20.02 16.34 16.27 15.16 14.86 14.86 16.23 14.12

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