We have slightly decreased our FY12 estimates of Coromandel International by 8.5% following government’s move of ~15-20% reduction in subsidy for complex fertiliser. At the CMP of Rs 279, Coromandel International trades at FY11 and FY12 P/E of 14.1x and 12.4x and EV/EBITDA of 4.1x and 4.1x respectively. We maintain our ‘Hold’ recommendation with a target price of Rs 316 (22.5 FY12E EPS)
READ MORE »Download The Best Broker Research Reports On The Best Stocks
