Coromandel International Ltd up by 6.39%: Market Update By Espresso


Espresso Shot of the Day - Coromandel International Ltd up by 6.39 percent

July 27, 2022
Espresso Shot of the Day - Coromandel International Ltd up by 6.39 percent

COROMANDEL INTERNATIONAL LTD 1065.80  (+6.39%)  BSE –  INE169A01031 | 27th July 2022

Coromandel International is India’s pioneer and leading agri-solutions provider, offering diverse products and services across the farming value chain. The conglomerate started its operations from India’s first fertiliser plant at Ranipet, Tamil Nadu in 1906. From then on, it has been evolving for over a century by offering customized farm solutions and advisory services. Over the years, it has diversified its offerings to emerge as a complete farm solution provider, offering solutions from seeding to harvesting. It offers Plant Nutrient and Crop Protection solutions including Fertiliser, Crop Protection, Bio-pesticides, Specialty Nutrients and Organic fertiliser.

Recent Drivers

  • Dare Ventures, the venture capital arm of Coromandel International announced on July 21, 2022, that they have invested in Bengaluru-based biotech startup String Bio alongside Woodside Energy Group and existing investors Ankur Capital, Redstart and Zenfold Ventures. Targeting the agriculture industry, String has developed several bio-stimulant products targeting horticulture as well as large acreage crops. These products are designed to enhance the yield while simultaneously reducing greenhouse gas emissions from agriculture and catering to the demand for natural and healthy products.
  • CRISIL Ratings reaffirmed its 'CRISIL AA+/Positive/CRISIL A1+' ratings on the bank facilities and commercial paper programme of Coromandel International Limited on July 5,2022. The ratings continue to reflect Coromandel’s robust market position in India’s phosphatic-fertilizer market and its strong operating efficiency. Benefited by the backwards-integration facilities established over the years, which provides it with a competitive advantage against imports.
  • Coromandel International Limited on June 21,2022 launched three insecticides and a fungicide. The company said it is working towards strengthening its product portfolio for all major crops.
  • Coromandel International will acquire a 45% stake in Baobab Mining and Chemicals Corporation (BMCC) for $19.6 million (Rs 150 crores approx.), besides a loan infusion of $9.7 million (Rs 75 crores approx.) into BMCC for capital projects and expansion. This investment, which happened on May 7, 2022, will help in strengthening Coromandel International's backward integration and ensure long-term supply security of the key raw material
  • The company recommended a final dividend of Rs. 6/- per equity share of Face Value Re. 1 for the Financial Year 2021-22, subject to the approval of shareholders on April 28,2022.
  • The company reported a quarterly net Profit of Rs. 495.67 crores in June 2022 up 50.58 % from Rs. 329.18 xcrore in June 2021.
  • The company reported net Sales at Rs 5,722.16 crores in June 2022, up 56.98% from Rs. 3,645.18 crores in June 2021.
(Sources: BSE, Business Standard, Moneycontrol,The Hindu)                                                                           

Technical Force*

  • S&P 200 month till date gain by 6.50%
  • 3 months avg. NSE volume: 677,183
  • Quantity traded: 45,824| Deliverable Quantity: 9,229 (20.14%)
  • The stock price jumped by more than 40% from a one-year low level: 709.55 (December 20 ,2021)
  • Daily RSI (14) is at oversold territory today
  • 52-week-high: 1071.00 | 52-week-low: 709.55

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Some Key Ratios (Source: BSE)

Market Cap: 12,522.21Crores

PE:  22.19

OPM%: 8.27

ROE%:  22.40

Promoters holding%: 57.48

Prev. Close:  1001.75

Chart and Technical Force data from the Binge desktop app

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.