Company’s profit after tax for the quarter was at Rs. 659 Cr as against Rs. 755 Cr for the quarter ended September 2023.
Coromandel International Limited, India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertiliser and Retail. The Company has reported the financial results for the quarter ended 30th September 2024.
Company reported Total Income of Rs. 7,509 Crore in Q2 vs Rs. 7,031 Cr for the corresponding quarter of last year. Company’s EBITDA for Q2 was Rs. 983 Cr vs. Rs. 1,064 Cr for the corresponding quarter of last year. Company has posted Rs 696 Crore Profit After Tax in Q2 was vs Rs 762 Cr in Q2 for the corresponding quarter of last year. Company’s Total Income in H1 was at Rs. 12,277 Cr vs Rs. 12,771 Cr for the corresponding period of last year. Company reported Rs 1,490 Cr EBITDA for H1 vs. Rs. 1,774 Cr for the corresponding period of last year. Company’s PAT for H1 was 1,027 Cr vs Rs. 1,267 Cr for the corresponding period of last year.
Nutrient and Allied Business
The Revenue for the quarter ended September 2024 was at Rs. 6,746 Cr as against Rs. 6,307 Cr for the quarter ended September 2023. Profit before interest and tax for the quarter was Rs. 861 Cr vs. Rs. 998 Cr for the quarter ended September 2023.
The Revenue for the first half was at Rs. 10,944 Cr compared with Rs. 11,499 Cr in the corresponding period of the previous year. Profit before interest and tax for the first half was Rs. 1,297 Cr vs. Rs. 1,670 Cr in the corresponding period of the previous year.
Crop Protection Business
The Revenue for the quarter ended September 2024 was at Rs. 755 Cr as against Rs. 722 Cr for the quarter ended September 2023. Profit before interest and tax for the quarter was Rs. 110 Cr vs. Rs. 88 Cr for the quarter ended September 2023.
The Revenue for the first half was at Rs. 1,306 Cr compared with Rs. 1,278 Cr in the corresponding period of the previous year. Profit before interest and tax for the first half was Rs. 173 Cr vs. Rs. 143 Cr in the corresponding period of the previous year.
Consolidated Results
Coromandel’s total income for the quarter ended September 2024 was at Rs. 7,498 Cr vs. Rs. 7,033 Cr for the quarter ended September 2023. The profit after tax for the quarter was at Rs. 659 Cr as against Rs. 755 Cr for the quarter ended September 2023.
Coromandel’s total income for the first half was at Rs. 12,281 Cr vs. Rs. 12,771 Cr in the corresponding period of the previous year. The profit after tax for the first half was at Rs. 968 Cr as against Rs. 1,249 Cr in the corresponding period of the previous year.
Commenting on the financial results, Sankarasubramanian S, Managing Director & CEO, Coromandel International Ltd., said, “Company registered a healthy performance in Q2, led by higher sales volumes and improved operational efficiencies across the businesses. The company continues to make sequential recovery quarter on quarter, despite lower subsidy rates and firming up of raw material prices. Favourable agricultural environment like above normal monsoon and higher crop sowing supported agri inputs consumption. During the quarter, fertiliser business of the company increased its primary sale volumes by 13per cent and improved its consumption share to 20 per cent.
The company has taken steps to secure its backend supply chain and has been setting up intermediate capacities over the past few years, besides foraying into mining at Senegal. In January 2024, we had announced Sulphuric acid (2000 TPD) and Phosphoric acid (650 TPD) plants at Kakinada and the projects are progressing as per plan and are likely to be commissioned by early 2026, thereby making all of the company’s fertiliser manufacturing sites backward integrated and reducing their dependence on imports.
