Engineering - Construction · Founded 1947 · www.coromandelengg.com · BSE 533167 · NSE CORO ENGG · ISIN INE312J01012
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Business
Coromandel Engineering Company Ltd. is an Indian company operating in the Engineering - Construction sector. Its core business involves undertaking various construction projects, which typically include civil engineering works, building construction (commercial, industrial, residential), and potentially infrastructure development. The company's business model revolves around securing contracts from clients (both public and private), executing these projects, and deriving revenue from the successful completion of works and associated services.
Revenue Mix
Based on the provided information, Coromandel Engineering Company Ltd.'s primary and likely sole segment is Engineering - Construction. Specific breakdowns of revenue by project type (e.g., infrastructure, commercial, industrial) or geographical contribution are not publicly available within the given data.
Industry
The Indian Engineering & Construction industry is characterized by high fragmentation, intense competition, and a project-based nature, heavily influenced by government spending on infrastructure and private sector capital expenditure. The market includes a wide range of players from large, diversified national conglomerates to smaller, regional contractors. Coromandel Engineering Company Ltd. operates within this competitive landscape, positioning itself as a participant in the execution of various construction projects in India. Its specific standing relative to the largest national players (e.g., L&T, NCC) would depend on its scale of operations, project complexity, and geographical focus, which are not detailed here.
MOAT
Based on the limited information, a clear and durable competitive advantage (moat) such as proprietary technology, strong brand loyalty in a commoditized service, or significant network effects is not apparent. Potential competitive strengths might include proven project execution capabilities, established client relationships, specialized technical expertise in certain construction niches, or a strong regional presence. However, these are often subject to intense bidding processes and do not typically constitute a wide moat against competitors.
Growth Drivers
Key factors that could drive growth for Coromandel Engineering Company Ltd. over the next 3-5 years include:
Government Infrastructure Push: Continued high government spending on roads, railways, ports, airports, and urban infrastructure projects across India.
Industrial and Commercial Capex: Revival and growth in private sector capital expenditure across manufacturing, real estate, and industrial sectors.
Urbanization & Housing: Growing demand for commercial, residential, and social infrastructure driven by India's rapid urbanization.
Order Book Expansion: The company's ability to secure new, larger, and more complex projects, expanding its order book value and execution capacity.
Risks
Key business risks for Coromandel Engineering Company Ltd. include:
Project Execution Risk: Delays, cost overruns, and quality issues in project execution, impacting profitability and reputation.
Intense Competition: Fierce bidding wars for contracts can compress margins and affect order inflow.
Input Cost Volatility: Fluctuations in prices of raw materials (steel, cement) and labor costs can impact project profitability, especially for fixed-price contracts.
Working Capital Management: The construction business is working capital intensive, requiring efficient management of receivables, payables, and inventory.
Economic Cyclicality: The construction sector is highly sensitive to economic cycles, with slowdowns leading to reduced project awards and payment delays.
Regulatory & Environmental Risks: Delays in obtaining permits, clearances, land acquisition issues, or changes in environmental regulations.
Management & Ownership
Coromandel Engineering Company Ltd. is a publicly listed company in India, indicated by its ticker COROENGG. Like many Indian firms, it likely has a promoter group that holds a significant stake and provides strategic direction. Details regarding specific management quality or individual ownership structures beyond the general nature of a publicly traded company are not provided. The ownership structure would typically involve a mix of promoter holdings, institutional investors, and public shareholders.
Outlook
Coromandel Engineering Company Ltd. operates within a promising Indian construction sector, bolstered by strong government focus on infrastructure development and potential private sector recovery. The company's performance will be largely contingent on its ability to effectively bid for and execute projects, maintain operational efficiencies, and manage working capital in a highly competitive and cyclical environment. While the industry offers significant growth opportunities, risks such as rising input costs, intense competition, and project execution challenges could impact profitability and growth momentum. A balanced view suggests that success will hinge on disciplined project selection, efficient delivery, and prudent financial management.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 24 | 8 | 10 | 7 | 7 | 9 | 13 | 6 | 15 | 15 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 24 | 8 | 10 | 7 | 7 | 9 | 14 | 6 | 15 | 15 |
| Total Expenditure | 23 | 10 | 10 | 5 | 3 | 8 | 12 | 5 | 14 | 14 |
| Operating Profit | 1 | -2 | -0 | 1 | 4 | 1 | 1 | 1 | 1 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -3 | -1 | 1 | 3 | 0 | 0 | 0 | 0 | 0 |
| Provision for Tax | -0 | -0 | -1 | -0 | 0 | 1 | 0 | 0 | -1 | 0 |
| Profit After Tax | -0 | -3 | 0 | 1 | 3 | -1 | 0 | 0 | 1 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -3 | 0 | 1 | 3 | -1 | 0 | 0 | 1 | 0 |
| Adjusted Earnings Per Share | -0 | -1 | 0 | 0.2 | 0.8 | -0.2 | 0 | 0 | 0.2 | 0.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 230 | 122 | 31 | 33 | 46 | 58 | 109 | 133 | 127 | 97 | 31 | 49 |
| Other Income | 1 | 2 | 1 | 1 | 1 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 231 | 124 | 32 | 33 | 46 | 61 | 109 | 133 | 127 | 97 | 31 | 50 |
| Total Expenditure | 206 | 110 | 32 | 37 | 48 | 59 | 110 | 133 | 126 | 96 | 28 | 45 |
| Operating Profit | 25 | 14 | -0 | -4 | -2 | 2 | -1 | -0 | 1 | 1 | 3 | 4 |
| Interest | 20 | 8 | 4 | 4 | 6 | 7 | 6 | 5 | 4 | 3 | 3 | 4 |
| Depreciation | 5 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 2 | 2 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 2 | 2 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 1 | -8 | -11 | -12 | -6 | -7 | -6 | -4 | -4 | -1 | 0 |
| Provision for Tax | -1 | 0 | -0 | 2 | 0 | -1 | 1 | 2 | 1 | 1 | -1 | -1 |
| Profit After Tax | 1 | 0 | -8 | -13 | -12 | -5 | -8 | -8 | -5 | -4 | 0 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 0 | -8 | -13 | -12 | -5 | -8 | -8 | -5 | -4 | 0 | 1 |
| Adjusted Earnings Per Share | 0.3 | 0.1 | -2.3 | -3.8 | -3.6 | -1.4 | -2.4 | -2.4 | -1.4 | -1.3 | 0.1 | 0.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -68% | -38% | -12% | -18% |
| Operating Profit CAGR | 200% | 0% | 8% | -19% |
| PAT CAGR | 0% | 0% | 0% | -100% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 23% | 20% | 19% | 6% |
| ROE Average | 11% | 4% | 2% | -33% |
| ROCE Average | 9% | 3% | 1% | 1% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 44 | 44 | 36 | 24 | 12 | 28 | 20 | 12 | 8 | 3 | 6 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 36 | 28 | 17 | 12 | 9 | 10 | 6 | 11 |
| Other Non-Current Liabilities | -15 | -15 | -14 | -12 | -11 | -13 | -14 | -11 | -11 | -10 | -10 |
| Total Current Liabilities | 162 | 64 | 52 | 39 | 49 | 49 | 55 | 50 | 56 | 66 | 58 |
| Total Liabilities | 191 | 94 | 74 | 87 | 78 | 82 | 74 | 60 | 63 | 66 | 65 |
| Fixed Assets | 29 | 25 | 21 | 17 | 13 | 10 | 7 | 5 | 3 | 2 | 4 |
| Other Non-Current Assets | 7 | 5 | 5 | 4 | 4 | 4 | 5 | 4 | 4 | 5 | 4 |
| Total Current Assets | 154 | 64 | 49 | 66 | 61 | 68 | 62 | 51 | 56 | 59 | 57 |
| Total Assets | 191 | 94 | 74 | 87 | 78 | 82 | 74 | 60 | 63 | 66 | 65 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 60 | 19 | -1 | -20 | 4 | -2 | 11 | 20 | -7 | 11 | -2 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 2 | 1 | 0 | 2 |
| Cash Flow from Financing Activities | -61 | -20 | 1 | 20 | -4 | -1 | -14 | -21 | 6 | -11 | 0 |
| Net Cash Inflow / Outflow | -1 | -0 | 0 | -0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.34 | 0.12 | -2.31 | -3.77 | -3.58 | -1.42 | -2.39 | -2.4 | -1.36 | -1.32 | 0.12 |
| CEPS(Rs) | 1.81 | 1.43 | -1.14 | -2.67 | -2.51 | -0.41 | -1.5 | -1.57 | -0.69 | -0.84 | 0.45 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 11.16 | 11.28 | 8.79 | 5.02 | 1.44 | 0.02 | -2.37 | -4.8 | -6.16 | 1.05 | 1.17 |
| Core EBITDA Margin(%) | 10.66 | 9.6 | -3.25 | -13.89 | -5.25 | -2.43 | -1.04 | -0.15 | 0.44 | 0.79 | 10.19 |
| EBIT Margin(%) | 8.93 | 7.5 | -13.43 | -22.44 | -11.35 | 1.12 | -0.81 | -0.69 | 0.29 | -0.62 | 6.77 |
| Pre Tax Margin(%) | 0.23 | 0.56 | -25.06 | -33.5 | -25.25 | -10.39 | -6.79 | -4.24 | -3.05 | -3.74 | -3.07 |
| PAT Margin (%) | 0.49 | 0.33 | -24.5 | -38.6 | -26.04 | -8.17 | -7.31 | -5.99 | -3.56 | -4.55 | 1.33 |
| Cash Profit Margin (%) | 2.61 | 3.9 | -12.07 | -27.28 | -18.24 | -2.37 | -4.6 | -3.93 | -1.8 | -2.88 | 4.81 |
| ROA(%) | 0.46 | 0.28 | -9.14 | -15.54 | -14.4 | -5.89 | -10.19 | -11.92 | -7.35 | -6.82 | 0.63 |
| ROE(%) | 3.06 | 1.08 | -23.03 | -54.67 | -110.91 | -194.19 | 0 | 0 | 0 | 0 | 11.27 |
| ROCE(%) | 15.92 | 9.94 | -6.24 | -10.33 | -7.35 | 0.98 | -1.48 | -2.36 | 1.23 | -2.28 | 9.08 |
| Receivable days | 80.31 | 108.59 | 261.05 | 165.92 | 71.31 | 77.23 | 61.21 | 57.7 | 59.3 | 70.75 | 245.17 |
| Inventory Days | 89.66 | 122.52 | 146.82 | 314.4 | 337 | 232.3 | 91.74 | 51.56 | 42.43 | 49.53 | 132.4 |
| Payable days | 105.74 | 124.09 | 672.51 | 306.98 | 158.25 | 154.15 | 92.64 | 117.56 | 137.82 | 235.34 | 1518.9 |
| PER(x) | 123.45 | 466.36 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 394.23 |
| Price/Book(x) | 3.74 | 5.02 | 4.42 | 9.48 | 19.88 | 556.25 | -11.42 | -7.02 | -4.7 | 52.58 | 42.04 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.93 | 1.79 | 5.27 | 6.68 | 3.4 | 1.84 | 1.37 | 1.16 | 1.18 | 2.06 | 5.94 |
| EV/Core EBITDA(x) | 8.37 | 16.17 | -528.25 | -60.09 | -95.88 | 56.83 | -150.98 | -935.11 | 245.74 | 248.34 | 57.9 |
| Net Sales Growth(%) | 15.63 | -46.96 | -74.36 | 3.71 | 40.66 | 26.15 | 88.14 | 22.57 | -4.88 | -23.61 | -67.62 |
| EBIT Growth(%) | 786.76 | -55.48 | -145.93 | -73.31 | 28.88 | 112.45 | -235.62 | -5.25 | 139.45 | -264.71 | 453.72 |
| PAT Growth(%) | 112.66 | -64.09 | -2002.03 | -63.38 | 5.13 | 60.43 | -68.38 | -0.45 | 43.41 | 2.47 | 109.44 |
| EPS Growth(%) | 112.65 | -64.08 | -2002.03 | -63.38 | 5.13 | 60.43 | -68.37 | -0.45 | 43.41 | 2.47 | 109.43 |
| Debt/Equity(x) | 1.61 | 0.56 | 0.81 | 2.2 | 4.55 | 1.35 | 1.51 | 1.16 | 3.1 | 4.8 | 5.81 |
| Current Ratio(x) | 0.95 | 1.01 | 0.95 | 1.68 | 1.24 | 1.37 | 1.12 | 1.02 | 1 | 0.9 | 0.99 |
| Quick Ratio(x) | 0.53 | 0.8 | 0.71 | 0.57 | 0.41 | 0.71 | 0.73 | 0.71 | 0.76 | 0.71 | 0.82 |
| Interest Cover(x) | 1.03 | 1.08 | -1.15 | -2.03 | -0.82 | 0.1 | -0.13 | -0.2 | 0.09 | -0.2 | 0.69 |
| Total Debt/Mcap(x) | 0.51 | 0.13 | 0.23 | 0.33 | 0.56 | 0.98 | 0.34 | 0.13 | 0.25 | 0.09 | 0.14 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.57 | 74.57 | 74.57 | 74.55 | 73.33 | 70.87 | 70.87 | 70.87 | 70.87 | 70.87 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.43 | 25.43 | 25.43 | 25.45 | 26.67 | 29.13 | 29.13 | 29.13 | 29.13 | 29.13 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.48 | 2.48 | 2.48 | 2.48 | 2.44 | 2.47 | 2.47 | 2.47 | 2.47 | 2.47 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.85 | 0.85 | 0.85 | 0.85 | 0.89 | 1.02 | 1.02 | 1.02 | 1.02 | 1.02 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.32 | 3.32 | 3.32 | 3.32 | 3.32 | 3.49 | 3.49 | 3.49 | 3.49 | 3.49 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -68% | -38% | -12% | -18% |
| Operating Profit CAGR | +200% | — | +8% | -19% |
| PAT CAGR | — | — | — | -100% |
| Share Price CAGR | +23% | +20% | +19% | +6% |
| ROE Average | +11% | +4% | +2% | -33% |
| ROCE Average | +9% | +3% | +1% | +1% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.57 | 74.57 | 74.57 | 74.55 | 73.33 | 70.87 | 70.87 | 70.87 | 70.87 | 70.87 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.43 | 25.43 | 25.43 | 25.45 | 26.67 | 29.13 | 29.13 | 29.13 | 29.13 | 29.13 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.48 | 2.48 | 2.48 | 2.48 | 2.44 | 2.47 | 2.47 | 2.47 | 2.47 | 2.47 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.85 | 0.85 | 0.85 | 0.85 | 0.89 | 1.02 | 1.02 | 1.02 | 1.02 | 1.02 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 3.32 | 3.32 | 3.32 | 3.32 | 3.32 | 3.49 | 3.49 | 3.49 | 3.49 | 3.49 |
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