ADVERTISEMENT

Coromandel International Q1 Review - Strong Showing Despite Input Costs Woes: Motilal Oswal

Coromandel International Q1 Review - Strong Showing Despite Higher Raw Material Price Concerns: Motilal Oswal

Granules of Diammonium phosphate (DAP) stand on display at a fertilizer plant in Russia. (Photographer: Andrey Rudakov/Bloomberg)  
Granules of Diammonium phosphate (DAP) stand on display at a fertilizer plant in Russia. (Photographer: Andrey Rudakov/Bloomberg)  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Coromandel International Ltd. reported a strong operating performance in Q1 FY22 on the back of gross margin expansion, due to diversified sourcing, backward integration, cost efficiency, and inventory gain.

Sustainability of gross margin and volume growth remains a key monitorable going forward.

Coromandel International reported an overall revenue of Rs 36.6 billion (estimate Rs 39.4 billion) in Q1 FY22, up 14% y-o-y.

Fertilizer volumes fell 2% y-o-y on the back of a 53% decline in trading volume, whereas manufacturing grew 6% in Q1 FY22.

The crop protection segment grew 50% y-o-y to Rs 6.3 billion. The nutrient and other allied business segment grew 9% y-o-y to Rs 30.7 billion.

Click on the attachment to read the full report:

Motilal Oswal Coromandel Q1FY22 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.