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You are here : IndiaNotes >> Research & Analysis >> Companies >> Coromandel International Ltd. >> Research

Coromandel International Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 30 Jan, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Coromandel International Ltd, leading manufacturer of a wide range of Fertilizers, Crop Protection and Specialty Nutrient Products.
  • During the quarter, Coromandel International consolidated turnover stood at Rs. 22708.00 mn as against Rs. 2782630 mn in the corresponding quarter of the previous year.
  • During Q3 FY17, consolidated Net profit jumps to Rs. 1118.10 mn from Rs. 807.90 mn in Q3 FY16, an increase of 38.40%.
  • During the quarter, consolidated EBIDTA is Rs. 3018.00 mn as against Rs. 2308.00 mn in the corresponding period of the previous year, up by 30.76%.
  • During Q3 FY17, consolidated PBT increased by 34.12% to Rs. 1704.90 mn from Rs. 1271.20 mn in Q3 FY16.
  • EPS of the company stood at Rs. 3.83 a share during the quarter, registering 38.25% increased over previous year period.
  • During the nine months ended FY17, net sales stood at Rs. 79054.70 mn as compared to Rs. 8528230 mn in the previous year same period.
  • During 9M FY17, Net profit increased to Rs. 3326.90 mn from 2687.30 mn in 9M FY16, an increase of 23.80%.
  • Operating Profit and PAT of the company are expected to grow at a CAGR of 10% and 8% over 2015 to 2018E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs.333.00, the stock P/E ratio is at 21.86 x FY17E and 19.39 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 15.24 and Rs. 17.17 respectively.
  • Operating Profit and PAT of the company are expected to grow at a CAGR of 10% and 8% over 2015 to 2018E, respectively.
  • On the basis of EV/EBITDA, the stock trades at 9.87 x for FY17E and 9.00 x for FY18E.
  • Price to Book Value of the stock is expected to be at 3.38 x and 2.88 x for FY17E and FY18E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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