(Reuters) -India’s National Fertilizers posted a second-quarter loss on Tuesday, dragged by monsoon-hit poor agrichemicals demand for its fertilizers.
The state-run agricultural chemicals maker posted a consolidated loss of 358.1 million rupees ($4.1 million) for the quarter ended September 30, compared to a profit of 120.7 million rupees a year ago.
Revenue rose 54% to 67.63 billion rupees.
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KEY CONTEXT
Persistent rainfall in India, particularly the 115% above-normal showers in September, led to a significant drop in agrochemical demand.
Global fertilizer prices have seen a significant increase in prices this quarter, driven by the sudden surge of imports from India in urea and phosphorus and potassium (P&K) fertilizers.
The company posted an around 8% fall in revenue from its mainstay fertilizers business.
PEER COMPARISON
Valuation (next 12 Estimates (next 12 Analysts’ sentiment
months) months)
RIC PE EV/EBITDA Revenue Profit Mean No.
of Stock to Div
growth (%) growth (%) rating* analyst price yield
s target** (%)
National NULL NULL NULL NULL Null 0 NULL 1.68
Fertilizers
Chambal Fertilisers 9.87 6.28 NULL NULL Buy 2 0.91 2.08
and Chemicals
Deepak Fertilisers 14.56 8.44 NULL 23.69 Buy 1 0.83 0.70
and Petrochemicals
Corp
Coromandel 23.94 15.74 12.75 28.98 Buy 10 0.82 0.56
International
* Mean of analysts’ ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock’s last close to analysts’ mean price target; a ratio above 1 means the stock is trading above the PT
JUNE-SEPTEMBER STOCK PERFORMANCE
— All data from LSEG
— $1 = 87.8950 rupees
(Reporting by Yagnoseni Das in Bengaluru; Editing by Ronojoy Mazumdar)
