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HomeMutual FundCoromandel Worldwide Ltd. – Fairness Analysis DeskInsights

Coromandel Worldwide Ltd. – Fairness Analysis DeskInsights


Coromandel Worldwide Ltd. – Murugappa Group

Coromandel Worldwide is the flagship firm of the Murugappa Group, which owns ~56% of Coromandel by sister firm E.I.D. Parry (India). Coromandel Worldwide is India’s main agriculture options supplier, providing various services and products throughout the Agri inputs worth chain. Coromandel has efficiently pioneered the agricultural retail mannequin in India and operates a community of round 800 rural stores throughout Andhra Pradesh, Telangana, Karnataka, and Maharashtra. The Firm has 16 manufacturing amenities, producing a variety of Nutrient and Crop Safety merchandise that are marketed by a community of sellers and its personal stores. The corporate has the capability to fabricate over 3.5 million tonnes every year of fertilizers and pesticides, and ~1 million tonnes every year of single superphosphate.

Valuation:

We imagine the corporate to report strong progress in gross sales on the again of capability enlargement and backward integration. Contemplating the wholesome steadiness sheet and constant ROE of ~26% for the final 5 years, we advocate a BUY ranking within the inventory with the goal value (TP) of Rs.1080, 15x FY24E EPS.

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