NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Coromandel International Ltd.'s reported a weak operating performance (Ebitda down 54% YoY) led by lower margins in the nutrients and allied business (Ebit contribution: 71% in Q3 FY24), which declined 64% YoY.
This was due to a decline in subsidy rates (while MRP rates were stable), an increase in raw material prices, and a weak cropping season. The crop protection business (Ebit contribution: 29%) remained subdued, with an Ebit growth of 4% YoY.
Factoring in the weak Q3 FY24 performance, we cut our FY24E earnings by 13% while maintaining the earnings for FY25E/26E. Reiterate 'Buy'.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
RECOMMENDED FOR YOU
![](https://images.assettype.com/bloombergquint/2024-08-23/t2p0rzli/pexels-tima-miroshnichenko-7034131.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Pharma Q1 Results Review – Robust Revenue With Higher Profitability, Cost Optimisation: Axis Securities
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2022-06/791fa4b1-9f9b-4c69-ae38-1fae06654616/Stove_Kraft.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Stove Kraft Q1 Results Review - Cost Rationalisation Helps In Margin Expansion: Nirmal Bang
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-01/d8a2f7d2-6ace-4530-a8bc-ae4cbb0bac0a/crop_protection_img_2.png?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Coromandel International Q1 Results Review - Lower Subsidy, Higher Cost Hit Nutrient Segment: Nirmal Bang
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2023-07/62985e87-97db-4b43-8295-afa13dbcc607/A_person_holding_Indian_two_rupees_bank_notes_for_photograph___Source_BloombergQuint__jpg_2.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Bajaj Finance Q1 Review - Strong PPoP Growth, But Higher Credit Cost Restricted Net Profit: ICICI Securities
![timelogo](/images/amp-time.png)