Coromandel International posts Q1 results
Consolidated performance for the quarter ended 30th June 2017
During the quarter ended 30 June 2017 the Company’s consolidated total income is 2289 croresin comparison to the corresponding quarter last year of
2072 crores. Profit before depreciation,interest and taxes (EBITDA) for the quarter ended 30 June 2017 is
171 crores againstcorresponding quarter last year of
88 crores registering a growth of 94%. Consolidated netprofit after tax for the quarter is
75 crores as against
7 crores in corresponding quarter last year.
Standalone performance for the quarter ended 30th June 2017
During the quarter ended 30 June 2017, the total income is 2288 crores in comparison to thecorresponding quarter last year of
2069 crores. Profit before depreciation, interest and taxes(EBITDA) for the quarter ended 31 March 2017 is
172 crores against corresponding quarter lastyear of
89 crores. Net profit after tax for the quarter is
76 crores against correspondingquarter last year
8 crores.
The Company has received environmental clearance for raising production capacity of itsPhosphoric Acid facility at Vishakhapatnam in Andhra Pradesh.
Commenting on the financial results, Mr. Sameer Goel said “”During the quarter, the early onset ofmonsoons has resulted in higher crop sowings in our key operating markets and led to improvedagri input consumption. Coromandel benefitted from a favorable business environment andleveraged its wide customer connect, brand presence and market coverage to improve itsperformance across the nutrient business segment.
With forecast of normal south west monsoons and implementation of agrarian and policy reformstargeting soil health and balanced nutrition, we expect the agriculture scenario to improve, goingforward. Coromandel, with its diversified presence across the agri value chain, will continue toprovide holistic solutions and partner with the farming community to maximize farmer’sprosperity.””
About Coromandel International Limited
Coromandel International Limited, India’s second largest Phosphatic fertiliser player, is in thebusiness of Fertilisers, Specialty Nutrients, Crop Protection and Rural Retail. The Companymanufactures a wide range of fertilizers, making it a leader in its addressable markets. In itsendeavor to be a complete plant nutrition solutions Company, Coromandel has also introduced arange of Specialty Nutrient products comprising of water soluble fertilisers and micro nutrients.Coromandel is also pioneer in marketing Organic Fertilisers. The crop protection business haswide range of technicals, which we also export to various countries. Coromandel has a pan Indiapresence for distribution of these products, besides its own retail outlets. Coromandel hasventured into the retail business and has set up close to 800 rural retail centers in the States ofAndhra Pradesh, Telangana and Karnataka. The Company clocked a total income of 10,250Crores during FY 2016-17. Coromandel was voted as one of the top ten greenest companies inIndia by TERI, reflecting its commitment to the environment and society. Coromandel is a part ofthe INR 300 Billion Murugappa Group.
About Murugappa Group
Founded in 1900, the 300 Billion Murugappa Group is one of India’s leading businessconglomerates. The Group has 28 businesses including eight listed Companies traded in NSE &BSE. Headquartered in Chennai, the major Companies of the Group include CarborundumUniversal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MSGeneral Insurance Company Ltd., Coromandel International Ltd., Coromandel EngineeringCompany Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., TubeInvestments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems,Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Grouphas forged strong alliances with leading international companies such as Groupe ChimiqueTunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad QuÃmica y Minera deChile (SQM), Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has awide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola,Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters anenvironment of professionalism and has a workforce of over 32,000 employees.
