Valuation of Coromandel International stock captures positive outlook

The overall revenue for March quarter came in at Rs 3,910 crore and was down 29 per cent Y-o-Y, due to lower subsidy and reduced volumes in the fertilizer segment

The seasonal focus on the fertiliser and agrochem industry includes lobbying for the removal of the 5 per cent levy on fertilisers under GST. This coupled with higher minimum support prices and expected measures to support farm income helped drive a surge in agrochem stocks, with every listed company witnessing a jump in share prices.

One of the interesting stocks in the fertiliser pack is Coromandel International (CRIN). It reported weak March quarter (Q4FY24) results, which was in line with low expectations. This was due to an adverse nutrient-based subsidy (NBS) and lower fertiliser sales. Complex fertiliser