Buy Coromandel International, target price Rs 835: IIFL

IIFL has buy call on Coromandel International with a target price of Rs 835. The current market price of Coromandel International is Rs 805. Time period given by analyst is Intra Day when Coromandel International Ltd. price can reach defined target.

Coromandel International Ltd., incorporated in the year 1961, is a Mid Cap company (having a market cap of Rs 23657.28 Crore) operating in Fertilisers sector.

Coromandel International Ltd. key Products/Revenue Segments include Ammonium Phosphatic Fertilizers, Subsidy, Crop Protection, Others Items, Single Super Phosphate (SSP), Urea, Muriate Of Potash (Trading) for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 5099.50 Crore, down -17.30 % from last quarter Total Income of Rs 6166.40 Crore and up 43.98 % from last year same quarter Total Income of Rs 3541.87 Crore. Company reported net profit after tax of Rs 380.28 Crore in latest quarter.

Investment Rationale
The stock has given a breakout from a descending trendline.

Promoter/FII Holdings
Promoters held 57.53 per cent stake in the company as of 31-Dec-2021, while FIIs owned 12.67 per cent, DIIs 16.28 per cent.