Coromandel International Investors Meet Update - New Launches, Backward Integration Key Positives: Nirmal Bang
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Nirmal Bang Report
During a meeting with investors last week, the management of Coromandel International Ltd. sounded positive on long term growth outlook, especially in crop protection chemicals and high-margin specialty/organic nutrients (non subsidised - revenue of ~Rs 6 billion growing at 20% per annum).
Coromandel International also expects raw material and freight costs to soften over the next two quarters.
New product launches in crop protection chemicals/non-subsidised nutrients and single-digit growth in subsidised nutrients, supported by matching investments in capacity augmentation, are key growth drivers.
The Rs 4 billion backward integration project for 0.5 million TPA Sulphuric Acid, expected in the next 24 months, will also likely increase stability of supplies of this key input, in addition to resulting in cost savings.
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