Coromandel International posts Q1 results
27th July 2015: Coromandel International Limited, India’s leading manufacturer of a wide range of Fertilisers, Crop Protection Products and Specialty Nutrient Products, has reported the unaudited financial results for thequarter ended 30th June 2015.
Consolidated performance for the quarter ended 30th June 2015
During the quarter ended 30 June 2015 the Company’s consolidated turnover is 2181 crore registering agrowth of 16% in comparison to the corresponding quarter last year of
1881 crore Profit beforedepreciation, interest and taxes (EBITDA) for the quarter ended 30 June 2015 is
92 crore againstcorresponding quarter last year of
122 crore. Consolidated net profit after tax for the quarter is
14crore as against
35 crore in corresponding quarter last year.
Standalone performance for the year ended 30th June 2015
During the quarter ended 30 June 2015, the standalone turnover (including erstwhile Sabero OrganicsGujarat Limited) is 2173 crore in comparison to the corresponding quarter last year of
1685 crore.Profit before depreciation, interest and taxes (EBITDA) for the quarter ended 30 June 2015 is
91 croreagainst corresponding quarter last year of
97 crore. Net profit after tax for the quarter is
14 croreagainst corresponding quarter last year
25 crore.
Commenting on the financial results, Mr. V. Ravichandran – Vice Chairman said “Erratic rainfall in keyaddressable markets coupled with cost push pressures & rupee depreciation have impacted agri-input salesand margins. The Company has taken adequate measures to face market challenges and will continue tofocus in meeting the customer needs by providing quality inputs besides offering advisory services throughits Mana Gromor retail chain.â€
About Coromandel International Limited:
Coromandel International Limited, India’s second largest Phosphatic fertilizer player, is in the businesssegments of Fertilizers, Specialty Nutrients, Crop Protection and Retail. The Company manufactures awide range of fertilizers and markets around 3.2 million tons making it a leader in its addressable markets.
In its endeavor to be a complete plant nutrition solutions Company, Coromandel has also introduced arange of Specialty Nutrient products including Organic Fertilizers. The Crop Protection business producesinsecticides, fungicides and herbicides and markets these products in India and across the globe.Coromandel is the second largest manufacturer of Malathion and only the second manufacturer ofPhenthoate. Coromandel has also ventured into the retail business setting up more than 750 rural retailcenters in the States of Andhra Pradesh and Karnataka.
The Company clocked a turnover of 11,285 crore during FY 2014-15.lt was ranked among the top 20best companies to work for by Business Today and was also voted as one of the ten greenest companies inIndia by TERI, reflecting its commitment to the environment and society. Coromandel is a part of theINR 269 Billion Murugappa Group.
About Murugappa Group
Founded in 1900, the INR 269 Billion Murugappa Group is one of India’s leading business conglomerates.The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered inChennai, the major Companies of the Group include Carborundum Universal Ltd., CholamandalamInvestment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd.,Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., ParryAgro Industries Ltd., Parry Sugar industries Ltd, Shanthi Gears Ltd., Tube Investments of India Ltd., andWendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles,Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strongalliances with leading international companies such as Groupe Chimique Tunisien, Foskor, MitsuiSumitomo, Morgan Advanced Materials, Sociedad QuÃmica y Minera de Chile (SQM), Yanmar & Co. andCompagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over Indiaand spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gearsand Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism andhas a workforce of over 32,000 employees.
