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COROMANDEL Consensus Forecast

No. of reports in last year
6
No. of analysts
3
Average Consensus Forecast
580.33
Consensus Potential
-39.72%

COROMANDEL Price Target Potential

BrokerageTargetPotential
Geojit Financial Services8219.16%
Motilal Oswal677-10.16%
Nirmal Bang468-59.36%

COROMANDEL Targets in FrontPage Forums

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COROMANDEL Ratings

Long term COROMANDEL rating by FrontPage users
3.8/5 (4 Ratings)

6 COROMANDEL share price target reports by brokerages below. See what is analyst's view on COROMANDEL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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COROMANDEL Share Price Target

COROMANDEL Share Price Target - Broker Reports - 2020

4-Jun-20
Price @ Call: 639.4
Target: 821
BUY
IMD has predicted a normal southwest monsoon this season, which will aid in the offtake of fertilizers for the company. We believe CRIN’s focus on improving its bottom-line through increase in R&D spends, new product launches in the CPC segment, backward integration as well as increasing its volume of complex fertilizers should see net profit grow at a CAGR of 12% over FY20-FY22E. The recently announced Agri schemes to replace archaic laws, reform agri marketing, raise farm-gate prices and unify domestic markets can further boost demand for fertilizers in the long term. Hence we recommend a “Buy” and value CRIN at 18x FY22E EPS with a target of Rs.821.
... Read more
16-Jan-20
Price @ Call: 585.16
Target: 677
BUY
Despite the recent rally in the stock, we still believe there is room for a further upside. The stock currently trades at 15.4x/13.9x FY21/FY22 P/E. Over the last 5 years, CRIN has traded at an average P/E of 16x. We expect revenue/PAT CAGR of 5%/17% over FY19-22 and value the stock at 17x FY22E EPS. Our TP of INR677 implies 18% upside. Maintain Buy.
... Read more
1-Jan-20
Price @ Call: 531.26
Target: 656
BUY
Fertilizer segment revenues have grown at a CAGR of 14% over the last 3 years on the back of growth in sales volumes. Government initiatives to double farmer income to drive demand for fertilizer and crop protection products. Direct Benefit Transfer scheme of the central government has eased pressure on the working capital cycle of CRIN.Focus on increasing share of unique-grade fertilizers to expand EBITDA margins by 250 bps by FY22E.Backward integration projects completed this year to lower raw material cost and further aid margin expansion. We value CRIN at 16x on FY22E EPS with a target price of Rs.656 and recommend to BUY.
... Read more

COROMANDEL Share Price Target - Broker Reports - 2019

25-Oct-19
Price @ Call: 473.58
Target: 468
ACCUMULATE
Coromandel International (CRIN) positively surprised the street with better than expected 2QFY20 results despite the delayed monsoon. During the post-results conference call CRIN management sounded upbeat on future prospects in nutrients and crop protection chemicals businesses. The company was especially positive on the 2HFY20E outlook based on an extended Kharif season and prospects for a robust Rabi cropping season supported by near full reservoir levels and expectations of a normal northeast monsoon. Based on these factors, we are upgrading our rating on CRIN from Sell to Accumulate after raising our TP 23.4% to Rs468 using 14x PE on revised Sept 21E EPS (0.34% up from CMP).
... Read more
17-Oct-19
Price @ Call: 410.2
Target: 524
BUY
CRIN’s fertilizer manufacturing volumes increased 8% YoY, whereas trading volumes were down 62% in 2QFY20. Lower trading volumes will not impact margins for the quarter as manufacturing offers higher margins. Above-average rainfall in Kharif has led to increased reservoir levels, which will likely ensure higher yields and drive acreage in Rabi. This bodes well for fertilizer and agrochemicals consumption. Also, the rising backward integration (post commencement of new phos acid plant) and the decline in phos acid prices would drive margin expansion for CRIN. We expect revenue/PAT CAGR of 2%/14% over FY19-21 and value the stock at 16x FY21E EPS (it has traded at an average P/E of 17x over the last five years). Our TP of INR524 implies a 29% upside. Maintain Buy.
... Read more
25-Jul-19
Price @ Call: 381.85
Target: 336
SELL
Downgrading to Sell on lowered estimates and TP
Post the 1QFY20 results and the call, we have cut our revenue estimates by 19-21% and earnings estimates by 31% over FY20-FY21E, to factor in the weak 1QFY20 numbers and tempered expectations for the CPC business in FY20E. We are downgrading the stock from Accumulate to Sell on a 32% cut in our TP to Rs336 based on 16x PE on FY21E EPS (12% down from CMP).
... Read more
25-Apr-19
Price @ Call: 436.79
Target: 500
BUY
CRIN’s management maintains their strategy on increasing non subsidy share to revenue. The management continued to strengthen its marketing and branding initiatives, gaining significant market share and improving its customer reach. They will continue to diversify regional / product segment and ensure multiple cash flow streams to protect against volatility in business. CRIN’s leadership position and a prudent management team make them a long-term structural story as the government is making a lot of efforts to improve farm economics. At CMP of INR 436.15, the company is trading at 9.6x FY21E EV/ EBITDA and 15x FY21E EPS. We value the company using average of EV/ EBITDA and P.E. multiple methodology. We have given an exit multiple of 11x for EV/EBITDA and 17x for PE to arrive at an average target price of INR 500 which is an upside of 15%.
... Read more
26-Apr-19
Price @ Call: 433.23
Target: 544
BUY
Sales were largely in line with our estimates. We believe that key drivers will be backward integration (Phosphoric acid) and expansion (crop protection) will be key drivers to earnings over FY19-21E. We expect margin pressure to subside in FY20, due to backward integration in phosphoric acid, coupled with lower RM prices. We expect the non-subsidy business to grow (estimate a 20% CAGR in the crop protection business over FY20-21E to ` 25.0bn). The company expects the plant in Sarigam, which is currently shut, to become operational in 1HFY20. The Dahej plant, which manufactures Mancozeb, has become operational and is likely to lead to volume growth in the crop protection business. The stock is currently available at 15.4x and 13.6x FY20E and FY21E EPS. We maintain Buy, with a target price of ` 544 (17x FY21E EPS).
... Read more
25-Apr-19
Price @ Call: 436.79
Target: 542
BUY
We maintain our estimate of revenue/PAT CAGR of 7%/13% over FY19-21. We value the stock at 17x FY21E EPS (in line with its five-year average trading multiple), which we believe is justified given the continuous market share gains, sustained return ratios and an expected revival in margins on phos acid plant commissioning. Our target price of INR542 implies a 24% upside. Maintain Buy.
... Read more
25-Apr-19
Price @ Call: 436.3
Target: 495
ACCUMULATE
Coromandel International’s management sounded cautiously optimistic about the company’s long-term growth prospects and likely easing of working capital pressure on the nutrient business. The company is banking on the backward integration project in nutrients and new launches in crop protection chemicals across technical grades as well as formulations to support its future growth outlook. Post FY19 numbers, we have marginally trimmed our estimates to factor in the subdued near-term prospects for CPC business as per the management’s guidance. We have retained Accumulate rating on the stock with a revised target price of Rs495 (from Rs509 earlier), up 7% from the CMP.
... Read more
19-Feb-19
Price @ Call: 448.4
Target: 600
BUY
Market leader is Indian Farmers Fertiliser Cooperative Limited (IFFCO), a cooperative body. Over FY18-FY21E, we expect its overall revenues and EBITDA CAGR at 13.1% and 13.5%, respectively. EBITDA margin should bottom out in FY19 and improve thereafter. CRIN is expected to deliver EBITDA margin of 11.3% in FY21E vs. 10.7% likely in FY19E and 11.2% reported in FY18, in our view. While our estimates are in line with Bloomberg consensus estimates, we believe they are conservative given the recent inflation in raw material prices, and uncertain political environment as well as weather conditions. Leadership position and a prudent management team make CRIN a long-term structural story as the government is making a lot of efforts to improve farm economics. We initiate coverage on CRIN with a Buy rating and a target price of Rs600, up 35% from the CMP.
... Read more
23-Jan-19
Price @ Call: 432.4
Target: 571
BUY
14-Jan-19
Price @ Call: 461.2
Target: 544
BUY
8-Jan-19
Price @ Call: 460.3
Target: 555
BUY

COROMANDEL Share Price Target - Broker Reports - 2018

23-Nov-18
Price @ Call: 404.01
Target: 512
BUY
30-Oct-18
Price @ Call: 394.15
Target: 542
BUY
30-Oct-18
Price @ Call: 394.15
Target: 557
BUY
13-Oct-18
Price @ Call: 381.31
Target: 495
BUY
11-Sep-18
Price @ Call: 400.3
Target: 557
BUY
1-Aug-18
Price @ Call: 428.27
Target: 638
BUY
1-Aug-18
Price @ Call: 429
Target: 557
BUY
4-May-18
Price @ Call: 460.95
Target: 557
BUY
26-Apr-18
Price @ Call: 480.76
Target: 559
ACCUMULATE
18-Apr-18
Price @ Call: 526.19
Target: 673
BUY
12-Feb-18
Price @ Call: 532.7
Target: 680
BUY
5-Feb-18
Price @ Call: 537.56
Target: 674
BUY
8-Jan-18
Price @ Call: 568
Target: 689
BUY

COROMANDEL Share Price Target - Broker Reports - 2017

9-Nov-17
Price @ Call: 499.65
Target: 570
BUY
27-Oct-17
Price @ Call: 487.95
Target: 559
BUY
4-Aug-17
Price @ Call: 449
Target: 510
BUY
1-Aug-17
Price @ Call: 447
Target: 511
BUY
31-Jul-17
Price @ Call: 447.77
Target: 523
BUY
9-May-17
Price @ Call: 401
Target: 430
BUY
2-Feb-17
Price @ Call: 332
Target: 370
BUY
13-Jan-17
Price @ Call: 335.45
Target: 375
BUY

COROMANDEL Share Price Target - Broker Reports - 2016

9-Dec-16
Price @ Call: 270
Target: 330
BUY
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  • COROMANDEL Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3808.17
    Upside Target 2793.53
    Upside Target 1769.67
    Pivot755.03
    Downside Target 1731.17
    Downside Target 2716.53
    Downside Target 3692.67
  • COROMANDEL Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3813
    Upside Target 2789.75
    Upside Target 1769.5
    Pivot746.25
    Downside Target 1726
    Downside Target 2702.75
    Downside Target 3682.5
  • COROMANDEL Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3963.7
    Upside Target 2866.25
    Upside Target 1811
    Pivot713.55
    Downside Target 1658.3
    Downside Target 2560.85
    Downside Target 3505.6
  • COROMANDEL Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3793.53
    Upside Target 2778.83
    Upside Target 1769.74
    Pivot755.03
    Downside Target 1740.33
    Downside Target 2731.24
    Downside Target 3716.53
  • COROMANDEL Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3789.75
    Upside Target 2773.13
    Upside Target 1762.87
    Pivot746.25
    Downside Target 1729.63
    Downside Target 2719.37
    Downside Target 3702.75
  • COROMANDEL Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3866.25
    Upside Target 2807.92
    Upside Target 1771.88
    Pivot713.55
    Downside Target 1655.22
    Downside Target 2619.18
    Downside Target 3560.85
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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