Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 20 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Coromandel International Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 19, 2024, 7:18 pm

Market Cap 51,982 Cr.
Current Price 1,765
High / Low1,799/1,025
Stock P/E38.3
Book Value 345
Dividend Yield0.34 %
ROCE26.0 %
ROE18.9 %
Face Value 1.00
PEG Ratio2.81

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Coromandel International Ltd

Competitors of Coromandel International Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Gujarat State Fertilizers & Chemicals Ltd 7,715 Cr. 194322/17914.6 3372.06 %5.77 %4.55 % 2.00
Bharat Agri Fert & Realty Ltd 401 Cr. 75.8132/73.3 9.970.07 %6.14 %14.8 % 1.00
Basant Agro Tech (India) Ltd 166 Cr. 18.428.9/17.620.1 19.50.27 %5.65 %1.30 % 1.00
Zuari Agro Chemicals Ltd 893 Cr. 212260/1514.99 4220.00 %8.50 %3.44 % 10.0
Southern Petrochemicals Industries Corporation Ltd (SPIC) 1,476 Cr. 72.6108/64.49.53 56.42.06 %17.8 %14.4 % 10.0
Industry Average9,620.14 Cr342.8745.40166.020.68%21.98%10.61%7.35

All Competitor Stocks of Coromandel International Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales3,5332,8253,6646,1485,0734,2275,72910,1138,3105,4765,6936,9885,464
Expenses3,0342,5953,1815,4044,5293,8485,0449,0567,5395,0894,9885,9335,115
Operating Profit4992294837435443796851,0577713877061,055349
OPM %14%8%13%12%11%9%12%10%9%7%12%15%6%
Other Income10472419287755324047444559
Interest21161719182127545752414638
Depreciation42474242434545464745485464
Profit before tax4472134487015113896699897063376611,000306
Tax %25%27%25%26%25%26%25%25%25%27%25%25%25%
Net Profit334156338519382290499741527246494755228
EPS in Rs11.385.3111.5117.7013.009.8716.9925.2017.928.3816.8025.717.85

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales9,9029,03410,05311,30611,48110,03111,08313,22513,13714,18219,11129,62826,467
Expenses8,7948,2649,24610,45010,7129,0489,82211,77511,40012,19316,95426,72623,549
Operating Profit1,1077708088567699831,2611,4501,7371,9892,1562,9022,918
OPM %11%9%8%8%7%10%11%11%13%14%11%10%11%
Other Income-1068465087545583576141171176
Interest12621024021022122417825123510675190196
Depreciation60719610510610199114158173173182194
Profit before tax9115575175925297121,0381,0931,3791,7862,0502,7012,704
Tax %30%22%29%32%32%33%33%34%23%26%25%25%
Net Profit6354343654023574776917201,0651,3291,5282,0132,022
EPS in Rs22.6115.2612.5913.8012.2716.3523.6424.6336.3645.3052.0868.4668.81
Dividend Payout %31%29%36%33%33%31%27%26%33%26%23%18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-31.65%-15.90%10.14%-11.19%33.61%44.86%4.20%47.92%24.79%14.97%31.74%
Change in YoY Net Profit Growth (%)0.00%15.75%26.04%-21.33%44.81%11.25%-40.67%43.72%-23.13%-9.82%16.77%

Coromandel International Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:11%
3 Years:16%
TTM:-19%
Compounded Profit Growth
10 Years:16%
5 Years:17%
3 Years:7%
TTM:-33%
Stock Price CAGR
10 Years:19%
5 Years:30%
3 Years:31%
1 Year:58%
Return on Equity
10 Years:23%
5 Years:25%
3 Years:24%
Last Year:19%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:29 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital28282929292929292929292929
Reserves2,1682,2532,1732,6052,8622,8673,3294,2885,1216,3297,8789,39010,126
Borrowings2,9461,8432,2882,6772,2282,7282,9542,019385395393492580
Other Liabilities3,2703,4813,8723,8713,5264,2244,2613,8123,3604,5325,9345,9336,238
Total Liabilities8,4127,6058,3629,1828,6459,84810,57410,1498,89511,28514,23515,84516,973
Fixed Assets1,8561,7341,3801,3201,3281,3271,3092,0322,0152,0922,2003,1123,433
CWIP42074464222481916590141399235162
Investments160342352477388221201211214243287854943
Other Assets5,9765,4556,5837,3436,9078,2528,8737,8406,5768,80911,34811,64412,436
Total Assets8,4127,6058,3629,1828,6459,84810,57410,1498,89511,28514,23515,84516,973

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +9851,46186189152635261,8624,1502,0785911,428
Cash from Investing Activity +-640-81-216-61-7938-597-220-1,245-1,622640-1,333
Cash from Financing Activity +-929-1,344-648-864-1-244-1,723-2,263-443-543-363
Net Cash Flow-58335-194-34-28300-314-8264214688-269

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow1.00768.00807.00854.00767.00981.00-1.00-1.00-1.00-384.00-393.00-391.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days7454475259525048145723
Inventory Days7986969888109127109989469102
Days Payable12913213113515016214713511010083119
Cash Conversion Cycle2471215-3-230222-1-76
Working Capital Days94557710612111612311165413747
ROCE %14%16%19%15%18%23%23%26%32%35%38%26%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters57.54%57.53%57.53%57.48%57.45%57.41%57.41%57.41%57.34%57.33%57.33%57.32%
FIIs7.63%7.21%7.08%8.04%9.93%10.26%9.40%7.56%7.18%7.71%7.34%7.52%
DIIs21.12%21.74%21.23%20.06%18.65%18.00%18.86%20.59%21.11%20.22%20.63%20.79%
Public13.71%13.52%14.17%14.43%13.97%14.34%14.33%14.46%14.37%14.74%14.70%14.39%
No. of Shareholders1,14,3521,14,6771,15,4401,39,6671,42,7521,33,7581,32,1031,32,3441,23,6391,26,6281,36,4121,36,497

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Emerging Equity Fund - Regular Plan7,423,3112.51850.931,773,5952024-11-16318.55%
DSP Mid Cap Fund5,065,0353.86580.611,773,5952024-11-16185.58%
Axis Midcap Fund4,652,3782.35533.31,773,5952024-11-16162.31%
SBI Magnum Midcap Fund3,778,1823.27433.091,773,5952024-11-16113.02%
Kotak Equity Opportunities Fund - Regular Plan2,450,0001.81280.841,773,5952024-11-1638.14%
Franklin India Prima Fund1,986,2282.59227.681,773,5952024-11-1611.99%
Sundaram Mid Cap Fund1,773,5952.32203.311,773,5952024-11-160%
Sundaram Mid Cap Fund - Institutional Plan1,773,5952.32203.311,773,5952024-11-160%
SBI Contra Fund1,771,4101.24203.061,773,5952024-11-16-0.12%
DSP Equity Opportunities Fund1,298,1341.63148.811,773,5952024-11-16-26.81%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)55.8168.5152.0945.3436.40
Diluted EPS (Rs.)55.8168.3851.9845.2236.31
Cash EPS (Rs.)64.3975.4957.8351.0241.72
Book Value[Excl.RevalReserv]/Share (Rs.)320.88268.97216.64175.55147.36
Book Value[Incl.RevalReserv]/Share (Rs.)320.88268.97216.64175.55147.36
Revenue From Operations / Share (Rs.)749.271007.75651.14483.37448.35
PBDIT / Share (Rs.)89.34105.3578.1670.1960.44
PBIT / Share (Rs.)81.5799.1672.2864.2955.05
PBT / Share (Rs.)75.2492.7069.7160.6947.02
Net Profit / Share (Rs.)56.6369.3051.9545.1236.32
NP After MI And SOA / Share (Rs.)55.7868.4752.0845.3036.35
PBDIT Margin (%)11.9210.4512.0014.5213.48
PBIT Margin (%)10.889.8311.1013.3012.27
PBT Margin (%)10.049.1910.7012.5510.48
Net Profit Margin (%)7.556.877.979.338.10
NP After MI And SOA Margin (%)7.446.797.999.378.10
Return on Networth / Equity (%)17.4325.4524.0325.8024.66
Return on Capital Employeed (%)24.0434.7931.1133.7133.72
Return On Assets (%)10.3514.1413.5414.9410.49
Total Debt / Equity (X)0.010.000.000.000.37
Asset Turnover Ratio (%)1.472.321.901.481.26
Current Ratio (X)2.071.751.871.981.45
Quick Ratio (X)1.280.991.051.190.94
Inventory Turnover Ratio (X)3.004.843.802.652.53
Dividend Payout Ratio (NP) (%)10.7517.5123.0339.7011.58
Dividend Payout Ratio (CP) (%)9.4416.0620.7035.1210.09
Earning Retention Ratio (%)89.2582.4976.9760.3088.42
Cash Earning Retention Ratio (%)90.5683.9479.3064.8889.91
Interest Coverage Ratio (X)14.1016.3030.4019.497.53
Interest Coverage Ratio (Post Tax) (X)9.9411.7221.2013.535.52
Enterprise Value (Cr.)28896.1124436.7921701.8121993.0817483.09
EV / Net Operating Revenue (X)1.310.821.141.551.33
EV / EBITDA (X)10.997.899.4610.689.87
MarketCap / Net Operating Revenue (X)1.440.871.231.601.21
Retention Ratios (%)89.2482.4876.9660.2988.41
Price / BV (X)3.363.273.694.413.69
Price / Net Operating Revenue (X)1.440.871.231.601.21
EarningsYield0.050.070.060.050.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Coromandel International Ltd as of November 20, 2024 is: 2,505.84

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 20, 2024, Coromandel International Ltd is Undervalued by 41.97% compared to the current share price 1,765.00

Intrinsic Value of Coromandel International Ltd as of November 20, 2024 is: 2,846.81

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 20, 2024, Coromandel International Ltd is Undervalued by 61.29% compared to the current share price 1,765.00

Last 5 Year EPS CAGR: 13.61%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 23.75%, which is a positive sign.
  2. The company has higher reserves (4,722.23 cr) compared to borrowings (1,686.77 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (14.23 cr) and profit (294.46 cr) over the years.
  1. The stock has a high average Working Capital Days of 82.75, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 8.75, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Coromandel International Ltd:
    1. Net Profit Margin: 7.55%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 24.04% (Industry Average ROCE: 21.98%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 17.43% (Industry Average ROE: 10.61%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 9.94
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.28
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 38.3 (Industry average Stock P/E: 45.4)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.01
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Coromandel International Ltd. is a Public Limited Listed company incorporated on 16/10/1961 and has its registered office in the State of Andhra Pradesh, India. Company’s Corporate Identification Number(CIN) is L24120TG1961PLC000892 and registration number is 000892. Currently Company is involved in the business activities of Manufacture of insecticides, rodenticides, fungicides, herbicides. Company’s Total Operating Revenue is Rs. 19088.26 Cr. and Equity Capital is Rs. 29.35 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
FertilisersCoromandel House, Secunderabad Telangana 500003investorsgrievance@coromandel.murugappa.com
http://www.coromandel.biz
Management
NamePosition Held
Mr. A VellayanChairman Emeritus
Mr. Arun AlagappanExecutive Vice Chairman
Dr. Raghuram DevarakondaExecutive Director
Mr. S SankarasubramanianExecutive Director
Mr. Arun VellayanWhole Time Director
Mr. Narayanan VellayanWhole Time Director
Mr. Sudarshan VenuIndependent Director
Dr. Deepali Pant JoshiIndependent Director
Mr. Adnan AhmadIndependent Director
Mr. Aditya HimatsingkaIndependent Director
Mr. Suresh SubramanianIndependent Director

FAQ

What is the latest intrinsic value of Coromandel International Ltd?

The latest intrinsic value of Coromandel International Ltd as on 20 November 2024 is ₹2505.84, which is 41.97% higher than the current market price of ₹1,765.00.

What is the Market Cap of Coromandel International Ltd?

The Market Cap of Coromandel International Ltd is 51,982 Cr..

What is the current Stock Price of Coromandel International Ltd as on 20 November 2024?

The current stock price of Coromandel International Ltd as on 20 November 2024 is ₹1,765.

What is the High / Low of Coromandel International Ltd stocks in FY 2024?

In FY 2024, the High / Low of Coromandel International Ltd stocks is 1,799/1,025.

What is the Stock P/E of Coromandel International Ltd?

The Stock P/E of Coromandel International Ltd is 38.3.

What is the Book Value of Coromandel International Ltd?

The Book Value of Coromandel International Ltd is 345.

What is the Dividend Yield of Coromandel International Ltd?

The Dividend Yield of Coromandel International Ltd is 0.34 %.

What is the ROCE of Coromandel International Ltd?

The ROCE of Coromandel International Ltd is 26.0 %.

What is the ROE of Coromandel International Ltd?

The ROE of Coromandel International Ltd is 18.9 %.

What is the Face Value of Coromandel International Ltd?

The Face Value of Coromandel International Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Coromandel International Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE