Budget Day Pick: Best Dividend-Paying Stock To Add To Your Portfolio With Strong Growth And Payout Potential

Offering a wide range of goods and services along the agricultural value chain, Coromandel International Limited is a prominent provider of agri-solutions and one of India's pioneers. Its two main business categories are Crop Protection and Nutrients and Related Businesses. These consist of companies that deal with fertiliser, crop protection, bioproducts, speciality nutrients, and organics. In India, the company is the second-largest producer and distributor of phosphoric fertiliser. In India, the company is the top marketer of organic fertiliser. The company's Bio Products division specialises in plant extractions for a range of uses. Additionally, it has a network of more than 800 rural retail stores across Tamil Nadu, Telangana, Karnataka, and Andhra Pradesh.

Coromandel International Dividend

The Board of Directors declared the "Payment of Interim Dividend for the financial year 2024-25 at Rs. 6/- (Rupees Six only) per equity share, representing 600%, on the equity share of face value of Re.1/- each fully paid. The Interim Dividend will be paid on or after February 19, 2025, but within 30 days from the declaration of Interim Dividend in terms of the relevant provisions of the Companies Act, 2013. The Record Date fixed for determining the members eligible to receive the Interim Dividend is February 5, 2025," Coromandel International said in a stock exchange filing.

Coromandel International Q3 Financials

Total income jumped by 28% to Rs. 7,038 Cr in Q3 compared to Rs. 5,510 Cr in the same quarter of the previous year. EBITDA for the third quarter of the current quarter was Rs. 727 Cr, up 103% from Rs. 358 Cr in the same quarter of the previous year. PAT for Q3FY25 was Rs. 525 Cr, up 116% from Rs. 243 Cr in Q3FY24.

Mr. S. Sankarasubramanian, Managing Director & CEO, Coromandel International Limited, said: "We are pleased to report robust performance in Q3 FY25, driven by strong sales volumes in Nutrients and crop protection segments, operational excellence across businesses and continued execution of our strategic initiatives. This was further aided by strong tailwinds such as good monsoon, higher reservoir levels and increased crop sowing in our target markets. Recovery in global agrochemicals market, coupled with strong performance of innovative, in-licensing products have supported growth in Crop Protection segment. We are promoting sustainable agricultural practices to drive resource efficiency and balanced nutrition and are progressing well in our efforts to scale up Nano products and drone based spraying services."

"We have received the Board's approval to enhance Technical pesticide capacity and this underscores our commitment to expand Coromandel's presence in the crop protection segment. The investment complements our recent expansion initiative at Ankleshwar for setting up a Multi-Product Plant, and reinforces our focus on creating a diversified and future-ready crop protection portfolio. As we scale our retail network beyond southern states and adopt innovative technologies like drones for precision farming, we remain committed to empowering farmers with advanced agri solutions. With favourable agricultural conditions and increasing adoption of our products, we are confident of sustaining our growth momentum in the quarters ahead," he added.

Coromandel International Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "COROMANDEL stock is currently trading around Rs 1810, showing some consolidation after recent downward movement. The stock has been moving in a range, trying to find stability before making its next move. The stock has strong support at Rs 1750 (near the 100-day Exponential Moving Average or EMA), and resistance around Rs 1850. If the price breaks above Rs 1850, it could lead to a new upward trend, pushing the stock towards Rs 2000 and higher."

"The stock has witnessed consistent trading volume, but it needs to break above the resistance level on stronger volume to confirm a sustainable uptrend. If the price holds above the Volume Weighted Average Price (VWAP) of approximately Rs 1818, a recovery can be anticipated in the coming sessions. COROMANDEL is showing signs of recovery in the short term, especially if it can break above the Rs 1850 level. Investors can look for buying opportunities on dips while keeping an eye on Stop-Loss at 1750 and target of 2000 levels for further movement," commented Mandar Bhojane.

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