Coromandel International posts Q3 results
22nd January 2016: Coromandel International Limited, India’s second largestPhosphatic fertiliser player, in the business segments of Fertilisers, Specialty Nutrients, Crop Protection, Organic Manure and Retail has reported the unaudited financial results for the quarter ended 31 December 2015 which were approved by the Board of Directors at their meeting held on 22 January 2016.
Consolidated performance for the quarter ended 31st December 2015
During the quarter ended 31 December 2015 the Company’s consolidated turnover is 2755 croresin comparison to the corresponding quarter last year of
2962 crores.
Profit before depreciation, interest and taxes (EBITDA) for the quarter ended 31 December 2015 is 165 crores in comparison to the corresponding quarter last year of
225 crores. Consolidatedprofit before tax is
126 crores in comparison to the corresponding quarter last year of
164 crores. Consolidated net profit after tax for the quarter is
80 crores as against
115 crores in corresponding quarter last year.
For the nine months ended 31 December 2015, the Company’s turnover is 8501 crores(corresponding period last year
8309 crores) and profit after tax is
268 crores (corresponding period last year
333 crores)
Standalone performance for the quarter ended 31st December 2015
During the quarter ended 31 December 2015, the standalone turnover is 2749 crores incomparsion to the corresponding quarter last year of
2959 crores. Profit before depreciation,interest and taxes (EBITDA) for the quarter ended 31 December 2015 is
166 crores incomparison to the corresponding quarter last year of
225 crores. Profit before tax is
127 croresfor the quarter ended 31 December 2015 as against
164 crores in the corresponding quarter lastyear. Net profit after tax for the quarter ended 31 December 2015 is
82 crores as against
116crores in the corresponding quarter last year.
For the nine months ended 31 December 2015, the standalone turnover is 8481 crores(corresponding period last year
8300 crores) and profit after tax is
269 crores (correspondingperiod last year
335 crores)
Commenting on the results Mr Sameer Goel, Managing Director commented “”Weak monsoon inaddressable markets and rupee depreciation impacted sales and margins. Inspite of a challengingenvironment, Coromandel has increased its market share in home markets and has taken initiativesto provide valued added products and services to the farming community. Our diversified agrisolutionsapproach will help us in achieving our long term business objectives””.
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
