Coromandel Internationals unique products lead to 20 per cent gain

The stock of India’s second-largest phosphate fertiliser, Coromandel International, has gained 20 per cent over the past month, as a result of the company’s focus on unique grade products and rising backward integration.  

These grade products are the ones which usually fetch higher margins and thus, contributed 38 per cent to the total revenue in FY19. Going forward, the company plans to raise it to half its output in the next couple of years.

According to reports, the sales volume of the manufactured phosphatic fertiliser grew by 44 per cent on YoY basis to 0.7 million tonnes in the quarter ended December 2019, as compared to 23 per cent of the industry.  

Coromandel International Limited manufactures a wide range of fertilisers and speciality nutrients as well as deals in the business segments of crop protection and retail. The company is also a part of Rs 36,893 crore Murugappa Group.

At 11.05 am on Friday, the stock of Coromandel is trading at Rs 607.50, down by 0.64 per cent against its previous close of Rs 611.40. Its 52-week high is recorded at Rs 618.70 and its 52-week low is Rs 336.50 on BSE.