Coromandel International better than expected result stock up ~6% By Mr. Amarjeet Maurya, Angel Broking Ltd
Below is quote on Coromandel International better than expected result stock up ~6% by Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd
For 1QFY22, Coromandel International Ltd (CIL)’s Consolidated top-line grew by ~14% to ~Rs3,664cr on back of health revenue growth across the segment - Nutrient and other allied segment (up ~9%) & Crop protection business (up ~50%). On the operating profit front, the company has reported ~Rs483cr, grew by ~17% on account of improvement in gross profit margin. During the quarter CIL reported operating margin at 13.2%. The reported Consolidated net profit grew by ~35% YoY to Rs338cr due to strong sales and better operating performance. Considering good normal monsoon, new product launches, focus to grow in outside Southern India and capacity expansion, we are positive on stock.
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