Coromandel International Q4 Review - Cash Chest Offsets Transient Worries: Nirmal Bang
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Nirmal Bang Report
Coromandel International Ltd.’s Q4 FY21 profit after tax came in at Rs 1.56 billion, 8.7%/26.6% miss on our/consensus expectations.
This was due to the miss of 3.9%/197 basis points on crop protection chemicals segment revenue/Ebit margin due to higher input costs and freight rates.
Operating cost was 10.8% higher versus our estimate - other expenditure was up due to the maintenance shutdown in March 2021.
This also hit the nutrient segment volume in Q4 FY21 by 15% though margins came in ahead of estimates.
The result also looks weak on YoY basis with revenue growth down a tad.
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