CRIN introduced 6 new products during H1FY22 and management expects to launch more products during rabi season. Management is expecting good traction in rabi season considering healthy reservoir levels and soil moisture conditions . We have positive outlook on CRIN, however we expect contraction in profitability due to the higher raw material costs and CRIN's limitation to pass the increased cost to customers. We maintain ACCUMULATE rating with revised target price of Rs.830 based on 15x FY23E adj. EPS....