Nuvama maintains a ‘Buy’ rating on Coromandel International, expecting 35.2% upside. The company plans to double its crop protection business to Rs 10,000 crore in five years, expand fertiliser capacity, and introduce new products. However, early H2FY26 volumes were soft, leading to pressure on profitability. The management also aims to create mega-brands and gain scale in the CDMO vertical.