Coromandel International posts Q2 results
27th October 2015: Coromandel International Limited, India’s leadingmanufacturer of a wide range of Fertilisers, Crop Protection Products and Specialty NutrientProducts, has reported the unaudited financial results for the quarter ended 30 September 2015which were approved by the Board of Directors at their meeting held on 27 October 2015.
Consolidated performance for the quarter ended 30th September 2015
During the quarter ended 30 September 2015 the Company’s consolidated turnover is 3564 croresin comparison to the corresponding quarter last year of
3466 crores.
Profit before depreciation, interest and taxes (EBITDA) for the quarter ended 30 September 2015 is314 crores in comparison to the corresponding quarter last year of
347 crores. Consolidatedprofit before tax is
260 crores in comparison to the corresponding quarter last year of
274crores. Consolidated net profit after tax for the quarter is
174 crores as against
183 crores incorresponding quarter last year.
On a half year basis the Company’s turnover is 5746 crores (corresponding period last year
5347 crores) and profit after tax is
188 crores (corresponding period last year
218 crores)
Standalone performance for the quarter ended 30th September 2015
During the quarter ended 30 September 2015, the standalone turnover is 3559 crores incomparsion to the corresponding quarter last year of
3245 crores. Profit before depreciation,interest and taxes (EBITDA) for the quarter ended 30 September 2015 is
314 crores incomparison to the corresponding quarter last year of
317 crores. Profit before tax is
260 croresfor the quarter ended 30 September 2015 as against
255 crores in the corresponding quarter lastyear. Net profit after tax for the quarter ended 30 September 2015 is
174 crores as against
170crores in the corresponding quarter last year.
On a half year basis the standalone turnover is 5732 crores (corresponding period last year
4931crores) and profit after tax is
187 crores (corresponding period last year
196 crores)
Commenting on the results Mr Sameer Goel, Managing Director commented “erratic and deficitmonsoon in key addressable markets have impacted overall agri-inputs business. Inspite of thesechallenges the company has increased its sale volumes for unique grades of complexes and alsosustained its market share in phosphatics complex segment and delivered creditable performance.We further expect that the new policy initiatives taken up by the government will address the issuesrelated to domestic fertilizer production and subsidies. We continue to provide value addedproducts through our Gromor retail centers to enhance the prosperity of the farming communityâ€.
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. For more details, visit www.murugappa.com
