Coromandel International Q3 Review - Tailwinds Turning Into Headwinds: Prabhudas Lilladher
A tractor spreads fertilizer onto a field of wheat. (Photographer: Chris Ratcliffe/Bloomberg)  

Coromandel International Q3 Review - Tailwinds Turning Into Headwinds: Prabhudas Lilladher

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.

Pabhudas Lilladher Report

Coromandel International Ltd. reported in-line set of results with topline/Ebitda/adjusted profit after tax growth of 8%/16%/26%.

The tailwinds of supportive raw material cost environment in fertiliser segment will likely convert to headwinds with rising prices.

India contracted price of phosphoric acid for Q4, has been set at $795/trillion (up 35% YoY and 15% month-on-month).

Price of rock phosphate, sulphur and ammonia are also on upward trajectory.

Moreover, the company will unlikely have support of healthy volume growth in FY22 due to high base and capacity constraints and lower marketing and travel cost.

Click on the attachment to read the full report:

Prabhudas Lilladher Coromandel International Q3FY21 Result Update.pdf

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