Coromandel International shares surged 2% after Nuvama upgraded its rating to a ‘Buy’ with a target price of ₹2,347 per share, citing strong growth catalysts. Key factors driving the optimism include:
- Improved Profit Margins: Backward integration expected to boost EBITDA per ton by 40%, adding ₹6,000–₹7,000 per ton.
- Expansion Plans: Focus on crop protection, doubling retail outlets, and deepening presence in northern India for a pan-India reach.
- New Growth Avenues: Entry into CDMO, specialty chemicals, drones, nano fertilizers, and biologicals.
Nuvama praised Coromandel’s disciplined capital allocation and strong return ratios, valuing the company at 25x FY27E EPS. With revised earnings estimates up by 2%–4%, Coromandel is positioned as a promising investment for long-term growth.
Coromandel International’s shares opened at ₹1,845, reaching a high of ₹1,867.85, a new 52-week high. The day’s low was ₹1,833.00.
As of 9:21 am, Coromandel International shares were trading 2.67% higher at Rs 1,865.75 on the NSE.
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