(Reuters) – Coromandel International posted a 73% jump in fourth-quarter profit on Wednesday, boosted by strong demand.
The fertiliser maker’s consolidated pre-tax profit rose to 3.84 billion rupees ($45.38 million) in the quarter ended March 31, from 2.22 billion rupees a year earlier.
Revenue from operations rose about 27.5% to 49.88 billion rupees, with revenue from its top fertiliser and nutrients business growing 28.2%.
For further results highlights, click here.
KEY CONTEXT
Fertiliser companies such as Coromandel will outperform their agrochemical peers in the fourth quarter, according to analysts, as volume growth, price hikes and demand for complex fertilisers lift profitability.
Peers Deepak Fertilisers and Petrochemicals and Chambal Fertilisers and Chemicals are yet to post results.
PEER COMPARISON
Estimates Estimates (next 12 Analysts’ sentiment
(next 12 months)
months)
RIC PE EV/EBI Revenue Profit Mean # of Stock to Div
TDA growth(%) growth(%) rating* analysts price yield(%)
target**
Coromandel 30.02 19.82 4.42 19.43 BUY 9 1.08 0.33
International
Deepak Fertilisers and 15.88 8.58 10.69 17.14 BUY 1 0.90 0.65
Petrochemicals Corp
SRF 50.40 26.36 15.02 49.23 HOLD 27 1.16 0.28
Sumitomo Chemical 38.71 28.82 17.84 22.56 BUY 7 0.86 0.18
India
* The mean of analysts’ ratings standardized to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JAN-MAR STOCK PERFORMANCE
— All data from LSEG
— $1 = 84.6280 Indian rupees
(Reporting by Aleef Jahan; Editing by Janane Venkatraman)
