Coromandel International Limited posts Q3 results.

February 17, 2025

Income up by 28%, PAT up by 116% for the quarter

National, 30th January 2025: Coromandel International Limited (BSE: 506395, NSE: COROMANDEL), India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertilizer and Retail. The Company has reported the financial results for the quarter ended 31st December 2024.

Highlights – Standalone Results:

Total Income in Q3 was at Rs. 7,038 Cr vs Rs. 5,510 Cr for the corresponding quarter of last year, registering a growth of 28%
EBITDA for Q3 was Rs. 727 Cr vs. Rs. 358 Cr for the corresponding quarter of last year, registering a growth of 103%
PAT for Q3 was Rs. 525 Cr vs Rs. 243 Cr for the corresponding quarter of last year, registering a growth of 116%
Total Income for YTD Dec’24 was at Rs. 19,315 Cr vs Rs. 18,281 Cr for the corresponding period of last year, registering a growth of 6%
EBITDA for YTD Dec’24 was Rs. 2,218 Cr vs. Rs. 2,132 Cr for the corresponding period of last year, registering a growth of 4%
PAT for YTD Dec’24 was Rs. 1,552 Cr vs Rs. 1,510 Cr for the corresponding period of last year, registering a growth of 3%

Review of Businesses:

Nutrient and Allied Business

The Revenue for the quarter ended Dec’24 was at Rs. 6,363 Cr as against Rs. 4,892 Cr for the quarter ended Dec’23. Profit before interest and tax was Rs. 635 Cr vs. Rs. 257 Cr in the corresponding period of the previous year.

The Revenue for YTD Dec’24 was at Rs. 17,307 Cr compared with Rs. 16,391 Cr for YTD Dec’23. Profit before interest and tax was Rs. 1,932 Cr vs. Rs. 1,928 Cr in the corresponding period of the previous year.

Crop Protection Business

The Revenue for the quarter ended Dec’24 was at Rs. 631 Cr as against Rs. 612 Cr for the quarter ended Dec’23. Profit before interest and tax was Rs. 91 Cr vs. Rs. 82 Cr in the corresponding period of the previous year.

The Revenue for YTD Dec’24 was at Rs. 1,937 Cr compared with Rs. 1,890 Cr for YTD Dec’23. Profit before interest and tax was Rs. 264 Cr vs. Rs. 225 Cr in the corresponding period of the previous year.

Consolidated Results

Coromandel’s Total income for the quarter ended Dec’24 was at Rs. 7,049 Cr vs. Rs. 5,523 Cr for the quarter ended Dec’23. The profit after tax was at Rs. 508 Cr as against Rs. 228 Cr in the corresponding period of the previous year.

Coromandel’s Total income for YTD Dec’24 was at Rs. 19,330 Cr vs. Rs. 18,294 Cr for YTD Dec’23. The profit after tax was at Rs. 1,476 Cr as against Rs. 1,477 Cr in the corresponding period of the previous year.

Commenting on the financial results, 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.

The recent Bhumi Pooja for the new 750,000 MT per annum of NPK granulation train at Kakinada marks another significant milestone in our journey to strengthen fertiliser manufacturing capabilities. This project, alongside the ongoing Phosphoric Acid and Sulphuric Acid plants at Kakinada, is progressing well and is expected to bolster our domestic phosphatic fertiliser capacities. These developments also align with Government’s vision of Aatmanirbhar Bharat in phosphatic fertilizers and reduce dependency on imports.

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.”

About Coromandel

Coromandel International Limited is amongst India’s pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain. It operates in two major segments: Nutrient and other allied businesses and Crop Protection. These include Fertiliser, Crop Protection, Bio Products, Specialty Nutrients and Organic businesses. The Company is 2^nd largest manufacturer and marketer of Phosphatic fertiliser in India. The Company’s Crop Protection products are marketed in India as well as in international geographies, offering wide range of technical and formulation products. The Specialty Nutrients business of the Company focuses on water soluble fertiliser, secondary & micronutrients and nano fertiliser products. The Company is leading marketer of Organic fertiliser in India. The Bio Products business of the company focusses on plant extractions for various applications. It also operates a network of around 800+ rural retail outlets across Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Through these Retail outlets, the Company offers agri inputs and farming services including crop advisory, soil testing and farm mechanization to around 3 million farmers. The Company has 7 R&D centers and a strong Regulatory setup, supporting the businesses in process development and new product introduction. The Company has 18 manufacturing facilities, spread widely across India, producing wide range of Nutrient and Crop Protection products, which are marketed through an extensive network of dealers and its own retail centers.

The Company clocked a turnover of Rs. 22,290 Crores during FY23-24. Its efforts towards environment have been well recognized by international organizations like UNDP and has also been voted as one of the ten greenest companies in India by TERI. Coromandel is a part of the INR 778 billion (INR 77,881 Crores) of the Murugappa Group.

For more details, visit www.coromandel.biz

About Murugappa Group

A 124-year-old conglomerate with presence across India and the world, the INR 778 billion (77,881 crore) Murugappa Group has diverse businesses in agriculture, engineering, financial services and more.

The Group has 9 listed companies: Carborundum Universal Limited, CG Power & Industrial Solutions Limited, Cholamandalam Financial Holdings Limited, Cholamandalam Investment & Finance Company Limited, Coromandel International Limited, EID Parry (India) Limited, Shanthi Gears Limited, Tube Investments of India Limited and Wendt India Limited. Other major companies include Cholamandalam MS General Insurance Company Limited and Parry Agro Industries Limited. Brands such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power, Shanthi Gears, CUMI, Gromor, Paramfos, Parry’s are part of the Group’s illustrious stable.

Abrasives, technical ceramics, electro minerals, electric vehicles, auto components, fans, transformers, signalling equipment for railways, bicycles, fertilisers, sugar, tea and several other products make up the Group’s business interests.

Guided by the five lights — integrity, passion, quality, respect and responsibility — and a culture of professionalism, the Group has a workforce of over 83,500 employees.

For more details, visit www.murugappa.com