Coromandel International Ltd

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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 24,388 Cr.
  • Current Price 832
  • High / Low 881 / 443
  • Stock P/E 18.2
  • Book Value 165
  • Dividend Yield 1.44 %
  • ROCE 26.4 %
  • ROE 27.8 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 21.35% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.39%
  • Company has been maintaining a healthy dividend payout of 28.96%

Cons

  • Promoter holding has decreased by -2.00% over last quarter
  • The company has delivered a poor growth of 3.05% over past five years.

Peer comparison

Sector: Fertilizers Industry: Fertilizers

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
2,735 2,412 2,528 5,008 3,049 2,638 2,131 4,858 3,279 2,869 3,213 4,611
2,408 2,227 2,315 4,342 2,746 2,379 1,936 4,145 2,847 2,479 2,801 3,768
Operating Profit 327 185 214 666 304 259 195 713 432 391 412 843
OPM % 12% 8% 8% 13% 10% 10% 9% 15% 13% 14% 13% 18%
Other Income 13 17 9 -10 11 5 10 10 9 12 13 10
Interest 42 51 64 70 51 65 80 66 46 43 43 25
Depreciation 25 24 26 26 27 35 30 42 41 45 42 42
Profit before tax 272 127 132 560 236 164 95 615 354 314 340 786
Tax % 34% 30% 32% 35% 35% 33% 34% 18% 25% 25% 26% 25%
Net Profit 180 90 90 366 154 110 62 504 265 234 251 589
EPS in Rs 6.18 3.06 3.09 12.50 5.28 3.77 2.13 17.22 9.04 7.99 8.55 20.09
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
9,375 6,395 7,639 9,902 9,034 10,053 11,306 11,481 10,031 11,083 13,225 13,137 13,972
8,696 5,680 6,546 8,794 8,264 9,246 10,450 10,715 9,048 9,823 11,775 11,400 11,894
Operating Profit 679 715 1,093 1,107 770 808 856 767 983 1,260 1,450 1,736 2,078
OPM % 7% 11% 14% 11% 9% 8% 8% 7% 10% 11% 11% 13% 15%
Other Income 338 131 43 -10 68 46 50 89 54 56 8 35 44
Interest 88 78 89 126 210 240 210 221 224 178 251 235 158
Depreciation 56 59 62 60 71 96 105 106 101 99 114 158 170
Profit before tax 873 709 986 911 557 517 592 529 712 1,038 1,093 1,379 1,794
Tax % 36% 34% 30% 30% 22% 29% 32% 32% 33% 33% 34% 23%
Net Profit 560 468 694 639 432 357 402 357 477 691 720 1,065 1,338
EPS in Rs 20.00 16.67 24.62 22.61 15.26 12.59 13.80 12.27 16.35 23.64 24.63 36.36 45.67
Dividend Payout % 25% 30% 28% 31% 29% 36% 33% 33% 31% 27% 26% 33%
Compounded Sales Growth
10 Years:7%
5 Years:3%
3 Years:9%
TTM:10%
Compounded Profit Growth
10 Years:9%
5 Years:21%
3 Years:31%
TTM:61%
Stock Price CAGR
10 Years:13%
5 Years:38%
3 Years:14%
1 Year:42%
Return on Equity
10 Years:23%
5 Years:22%
3 Years:25%
Last Year:28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
28 28 28 28 28 28 29 29 29 29 29 29 29
Reserves 1,184 1,473 1,929 2,372 2,168 2,253 2,173 2,605 2,862 2,867 3,329 4,288 4,803
Borrowings 1,771 2,047 1,562 2,943 2,946 1,843 2,288 2,677 2,228 2,728 2,954 1,625 532
1,842 1,089 2,010 2,621 3,270 3,481 3,872 3,871 3,526 4,224 4,261 4,206 4,160
Total Liabilities 4,825 4,637 5,529 7,965 8,412 7,605 8,362 9,182 8,645 9,848 10,574 10,149 9,523
769 811 801 1,296 1,856 1,734 1,380 1,320 1,328 1,327 1,309 2,032 1,994
CWIP 28 146 303 527 420 74 46 42 22 48 191 65 79
Investments 221 169 171 150 160 342 352 477 388 221 201 211 205
3,807 3,510 4,254 5,993 5,976 5,455 6,583 7,343 6,907 8,252 8,873 7,840 7,245
Total Assets 4,825 4,637 5,529 7,965 8,412 7,605 8,362 9,182 8,645 9,848 10,574 10,149 9,523

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
16 693 796 95 985 1,461 86 18 915 263 526 1,862
-166 -214 -109 -794 -640 -81 -216 -61 -79 38 -597 -220
468 57 -689 705 -929 -1,344 -64 8 -864 -1 -244 -1,723
Net Cash Flow 318 535 -2 6 -583 35 -194 -34 -28 300 -314 -82

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 41% 24% 31% 25% 15% 17% 19% 15% 18% 23% 23% 26%
Debtor Days 4 8 10 35 74 54 47 52 59 52 50 48
Inventory Turnover 7.22 4.33 4.71 4.48 4.11 4.76 4.42 3.88 3.60 3.93 3.48 3.14

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
61.81 61.80 61.80 61.80 61.78 61.72 61.72 61.69 61.63 59.60 59.58 57.58
5.58 4.36 3.76 3.59 4.13 4.25 3.39 3.54 3.50 4.26 5.86 7.04
10.49 12.11 12.80 13.56 13.78 14.01 18.55 18.50 19.71 21.28 19.70 19.15
22.12 21.72 21.63 21.05 20.31 20.02 16.34 16.27 15.16 14.86 14.86 16.23

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