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Mirae Asset Sharekhan's research report on Coromandel International
Coromandel’s focus on backward integration and investment in the CDMO segment, specialty chemicals and drone business would drive long-term growth. The company has been delivering strong results for the last few quarters. Q1FY26 revenue of Rs. 7,042 crore (up 48.9% y-o-y) was led by both Nutrient & Allied business and the Crop Protection business. Operating profit of Rs. 782 crore (up 55% y-o-y) was led by the revenue growth and rise in margin in the CPC business..
Outlook
We maintain a Buy with an unchanged PT of Rs. 2,535, assigning a multiple of 26x on FY27 EPS due to backward integration and increas