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Coromandel International marks strategic entry into new growth segments

A stock well positioned to benefit from the growth potential in agrochemical/industrial chemical space

March 24, 2023 / 10:17 AM IST
Coromandel International marks strategic entry into new growth segments

We believe CIL is well positioned to take advantage of the positively developing dynamics in the chemicals space

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Coromandel International  (CIL; CMP: Rs 895; Market cap: Rs 26,298 crore) on Wednesday announced that it is foraying into specialty & industrial chemicals and Contract Development & Manufacturing Organisation (CDMO) business, and expanding its crop protection chemical (CPC) segment. CIL will be investing Rs 1,000 crore over the next two years for the new businesses and expansion. The CPC segment, which accounts for 15 percent of CIL’s revenues, has now received board approval to expand this segment. CIL will set up...

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