External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Coromandel International / Equity Bottom-Up

<div><ul><li>4QFY22 earnings beat our estimates - CRIN reported a better than expected operating performance despite rising input costs, due to backward integration, control on fixed costs, <span style="font-size: var(--content-font-size);">selective price increases, better outsourcing of raw material, mix management of raw material (while maintaining quality), and better capacity utilization.</span></li></ul><div><ul><li>Higher fertilizer margin drives operating performance - <span style="font-size: var(--content-font-size);">CRIN reported an overall revenue of INR42.3b (est. INR40.3b) in 4QFY22, up 44% YoY.</span></li></ul><div><div><div><ul><li>Highlights from the management commentary - <span style="font-size: var(--content-font-size);">Subsidy outstanding as of Mar'22 stood at INR2.94b (v/s INR5.9b in </span><span style="font-size: var(--content-font-size);">Mar'21).</span></li></ul></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

4QFY22 earnings beat our estimates - CRIN reported a better than expected operating performance despite rising input costs, due to backward integration, control on fixed costs, selective price increases, better outsourcing of raw material, mix management of raw material (while maintaining quality), and better capacity utilization.Higher fertilizer margin drives operating performance - CRIN reported an overall revenue of INR42.3b (est. INR40.3b) in 4QFY22, up 44% YoY.Highlights from the management commentary - Subsidy outstanding as of Mar'22 stood at INR2.94b (v/s INR5.9b in Mar'21).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coromandel International - Backward Integration and Operating Leverage Drive EBIDTA

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><div><div><div><ul><li>Revenue at Rs42.27bn was 14% below NBIE estimate: EBITDA margin at 9% was a beat on our estimate of 4.8% due to higher-than-expected gross margin of 25.7% - a beat of 668bps.</li></ul><div><div><div><div><ul><li>4QFY22 revenue was up 48% YoY: Nutrient segment’s revenue was up 55.8% YoY at Rs36.82bn, a miss of 13.3% compared toth NBIE estimate of Rs42.47bn.</li></ul><div><div><div><div><ul><li>EBITDA margin beats NBIE est. by 418bps, but down 15bps YoY at 9%</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Revenue at Rs42.27bn was 14% below NBIE estimate: EBITDA margin at 9% was a beat on our estimate of 4.8% due to higher-than-expected gross margin of 25.7% - a beat of 668bps.4QFY22 revenue was up 48% YoY: Nutrient segment’s revenue was up 55.8% YoY at Rs36.82bn, a miss of 13.3% compared toth NBIE estimate of Rs42.47bn.EBITDA margin beats NBIE est. by 418bps, but down 15bps YoY at 9%Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coromandel International - Maintain Buy Despite Interim Worries on Input Costs

Thematic (Sector/Industry)

<ul>
<li>Potential deflation in input costs is margin accretive for Indian CPC stocks.</li>
<li>FY23 fertilizer subsidy may touch Rs1.75-Rs2trn.</li>
<li>IMD forecast for South West Monsoon an added catalyst.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Potential deflation in input costs is margin accretive for Indian CPC stocks.
FY23 fertilizer subsidy may touch Rs1.75-Rs2trn.
IMD forecast for South West Monsoon an added catalyst.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemical Sector- Indian Met Forecast Positive for Kharif Prospects Facing with High Input Costs

<p>In this note we have analyzed the volume performance for CRIN in 3QFY22, the trend in its key RMs, Rabi sowing in its key markets, and capacity expansion in sulfuric acid. The key insights are highlighted below:...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

In this note we have analyzed the volume performance for CRIN in 3QFY22, the trend in its key RMs, Rabi sowing in its key markets, and capacity expansion in sulfuric acid. The key insights are highlighted below:...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Coromandel International Ltd. manufactures fertilizers and pesticides.  The Company produces both chemical and organic fertilizers, insecticides, fungicides, herbcides, and plant biostimulant.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Coromandel International (CRIN IN)

Coromandel International - Backward Integration and Operating Leverage Drive EBIDTA

CRIN reported a better than expected operating performance despite rising input costs, due to backward integration, control on fixed costs,...

Motilal Oswal

Coromandel International - Maintain Buy Despite Interim Worries on Input Costs

We maintain Buy on Coromandel International (CRIN) based on the revised target price (TP) of Rs1,058 on the back of 10.4%/5.2% increase in FY23E...

Nirmal Bang

Chemical Sector- Indian Met Forecast Positive for Kharif Prospects Facing with High Input Costs

The Indian Agrochemicals sector looks better off compared to the prospects for exports in FY23. This is based on potential divergence in volume...

Nirmal Bang

Near-term challenges on higher RM

In this note we have analyzed the volume performance for CRIN in 3QFY22, the trend in its key RMs, Rabi sowing in its key markets, and capacity...

Motilal Oswal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)