Coromandel International Ltd

Coromandel International Ltd

₹ 2,074 0.94%
31 Jul - close price
About

Business Segments [1]
a) Nutrient and Other Allied Business (88% in FY26 vs 90% in FY25)::
i) Fertilizers: [2] [3] [4] [5] It manufactures NPK, DAP, SSP, MOP, and urea. It is India's 2nd-largest manufacturer and marketer of phosphatic fertilizers, the largest manufacturer and marketer of SSP, the largest private-sector NPK player, and a pioneering leader in the Nano DAP segment. It also holds a 35% share in the unique products segment and a 17.5% market share on a consumption basis.

ii) Specialty Nutrients: [4] [3]
The company is the pioneer & market leader in India's specialty nutrients segment, offering water-soluble fertilizers, secondary and micronutrients, and nano fertilizer products.

iii) Organic Fertilizers: [6] [3] The company markets organic fertilizers, producing a range of products derived from natural sources such as city waste, sugarcane molasses and its by-products, oil cakes, and gypsum.

b) Crop Protection (12% in FY26 vs 10% in FY25)::
i) Crop Protection: [7] [8] [3] The company manufactures and markets a range of insecticides, fungicides, herbicides, plant growth regulators, technicals and formulations in India and international markets. It is the country's 4th-largest agrochemical player by value, with the capability to manufacture 20 technicals and intermediates. It is also the 2nd-largest manufacturer of Malathion globally and a major manufacturer of Phenthoate in Asia.

ii) Bio Products: [4] [9] [10] Bio Products business focuses on plant-based extracts for agricultural applications, offering a comprehensive portfolio of biopesticides based on Azadirachtin, plant-derived biostimulants, anti-transpirants and non-ionic spreaders. It holds a global leadership position in the Azadirachtin market, with a presence across more than 40 countries in the Americas, Europe and Asia.

Sale Volumes (in Lakh MT):[11]
NPK+DAP: 42.77 in FY26 vs 39.88 in FY25
SSP: 8.41 in FY26 vs 7.73 in FY25
MOP: 0.67 in FY26 vs 0.69 in FY25
Urea: 22.65 in FY26 vs 13.59 in FY25

Geographical Split[12]
Domestic: 94% in FY26 vs 95% in FY25
Exports: 6% in FY26 vs 5% in FY25

Retail Presence[13] [4] [14]
The company operates India's largest agri-retail network with over 1,200 agri-retail outlets across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra. It is supported by over 3,000 marketing professionals and serves more than 5 Mn farmers across its operating markets. It has a network of 12,000 channel partners.

New Product Launches[15]
In FY26, Coromandel expanded its portfolio with new launches across Specialty Nutrients, Crop Protection and Bio Products. It's key additions included Fertinex 28:28:0, GypMax, Novonese, Organovita and Summit in Specialty Nutrients; Daliso, Ghibli, Chhaava and Invicto in Crop Protection; and CoroBT, GroBT, Coroscens, CoroShakti and other biological solutions to strengthen its bio-products portfolio.

Manufacturing Capabilities[4] [16]
The company operates 21 manufacturing facilities across India, with a total capacity of:
Fertilizers: 3.5 Mn MT
SSP: 1 Mn MT
Specialty Nutrients: 87,500 MT
Nano Fertilizers: 10,000 KL
Crop Protection Chemicals: 0.87 Lakh MT
Bio Products: 22.5 MT

Expansion & Backward Integration[17] [18]
The company commissioned a 2,000 TPD sulphuric acid plant and a 650 TPD phosphoric acid plant at Kakinada in Q4 FY26, for Rs. 1,100 Cr. It also advanced construction of the 7.5 lakh TPA NPK granulation Train H at Kakinada, expected to increase the site's total fertilizer capacity to 30 lakh TPAby Q4 FY27. Additionally, its Senegal rock phosphate project, where the company holds a 53.8% stake, commissioned a fixed processing plant and ramped up production to secure raw material supplies for the Kakinada phosphoric acid facility. It also added a 9 KTPA technical plant at Dahej for off-patent fungicides, along with capacity additions for key technical molecules at Ankleshwar and a herbicide block expansion at Sarigam.

Acquisitions[19] [17]
In Aug 2025, the company acquired a 53.13% controlling stake in NACL Industries for Rs. 820 Cr.

MoU[20]
In Nov 2025, the company signed a non-binding MoU with the Andhra Pradesh Economic Development Board to explore investments of up to Rs. 2,000 Cr in Andhra Pradesh.

Focus[21]
The company expects a 20-25% revenue growth in the crop protection business.

Key Points

Business Segments
1) Crop Nutrition (89% in Q1 FY25 vs 87% in FY22): [1] [2] This segment includes products like:

  • Market Cap 61,175 Cr.
  • Current Price 2,074
  • High / Low 2,668 / 1,706
  • Stock P/E 31.4
  • Book Value 423
  • Dividend Yield 0.53 %
  • ROCE 24.6 %
  • ROE 17.3 %
  • Face Value 1.00

Pros

  • Company is almost debt free.

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
5,693 6,986 5,450 3,900 4,713 7,432 6,926 4,993 7,001 9,411 8,457 5,661 7,744
4,984 5,921 5,092 3,631 4,206 6,449 6,198 4,555 6,263 8,265 7,699 5,202 7,123
Operating Profit 710 1,064 358 269 507 983 727 438 738 1,147 758 459 621
OPM % 12% 15% 7% 7% 11% 13% 10% 9% 11% 12% 9% 8% 8%
47 46 60 127 54 77 112 221 82 102 80 -38 49
Interest 40 46 38 61 56 64 72 66 65 87 61 75 76
Depreciation 48 52 60 62 62 66 67 82 70 70 73 84 88
Profit before tax 668 1,012 320 273 443 930 700 511 685 1,092 705 261 505
Tax % 24% 25% 24% 23% 25% 25% 25% 24% 26% 25% 25% 41% 25%
505 762 243 209 331 696 525 389 508 816 530 154 377
EPS in Rs 17.18 25.88 8.24 7.11 11.24 23.63 17.83 13.20 17.24 27.68 17.96 5.23 12.78
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
11,285 11,473 10,021 11,065 13,204 13,117 14,156 19,088 29,610 22,029 24,064 30,531 31,273
10,429 10,705 9,039 9,814 11,760 11,385 12,182 17,046 26,692 19,622 21,406 27,415 28,289
Operating Profit 856 768 982 1,251 1,444 1,732 1,974 2,042 2,918 2,407 2,658 3,116 2,984
OPM % 8% 7% 10% 11% 11% 13% 14% 11% 10% 11% 11% 10% 10%
49 88 53 54 6 32 70 136 175 273 462 211 193
Interest 209 221 224 178 251 235 106 75 189 185 258 287 298
Depreciation 103 106 100 99 113 157 172 172 181 222 277 297 315
Profit before tax 592 529 712 1,028 1,086 1,371 1,766 1,931 2,722 2,272 2,585 2,743 2,564
Tax % 32% 32% 33% 33% 34% 23% 26% 27% 25% 24% 25% 27%
403 358 477 685 714 1,059 1,313 1,412 2,035 1,719 1,941 2,009 1,877
EPS in Rs 13.84 12.28 16.35 23.42 24.40 36.15 44.74 48.12 69.20 58.40 65.87 68.08 63.65
Dividend Payout % 33% 33% 31% 28% 27% 33% 27% 25% 17% 10% 23% 3%
Compounded Sales Growth
10 Years: 10%
5 Years: 17%
3 Years: 1%
TTM: 19%
Compounded Profit Growth
10 Years: 19%
5 Years: 9%
3 Years: 0%
TTM: -4%
Stock Price CAGR
10 Years: 24%
5 Years: 18%
3 Years: 26%
1 Year: -20%
Return on Equity
10 Years: 22%
5 Years: 21%
3 Years: 18%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 29 29 29 29 29 29 29 29 29 29 29 30
Reserves 2,135 2,474 2,783 2,898 3,405 4,360 5,183 6,269 7,839 9,374 10,970 12,445
2,282 2,677 2,231 2,731 2,957 2,022 385 395 392 438 545 829
3,862 3,866 3,520 4,215 4,257 3,807 3,351 4,520 5,931 5,841 6,691 9,221
Total Liabilities 8,309 9,046 8,563 9,873 10,647 10,218 8,948 11,213 14,191 15,682 18,236 22,524
1,365 1,315 1,324 1,324 1,307 2,023 2,007 2,083 2,192 2,777 3,140 4,436
CWIP 46 42 22 48 190 65 89 141 398 226 373 303
Investments 352 370 334 288 321 335 334 267 220 1,118 1,520 3,364
6,545 7,319 6,883 8,213 8,830 7,795 6,518 8,722 11,381 11,561 13,203 14,422
Total Assets 8,309 9,046 8,563 9,873 10,647 10,218 8,948 11,213 14,191 15,682 18,236 22,524

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
85 18 917 253 513 1,867 4,125 2,093 560 1,462 2,546 1,440
-220 -62 -72 44 -597 -219 -1,240 -1,647 656 -1,321 -2,769 -567
-67 9 -862 -1 -244 -1,726 -2,264 -442 -543 -412 -641 -670
Net Cash Flow -201 -36 -17 297 -328 -79 621 4 674 -272 -864 204
Free Cash Flow -5 -89 836 136 243 1,614 3,933 1,816 -8 957 1,880 107
CFO/OP 26% 25% 120% 48% 61% 129% 232% 126% 44% 86% 122% 69%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 46 52 59 52 51 48 14 5 7 23 19 19
Inventory Days 96 98 89 108 127 109 98 94 69 101 96 107
Days Payable 131 135 150 162 147 135 110 101 83 119 122 132
Cash Conversion Cycle 11 15 -3 -2 30 22 2 -2 -7 6 -8 -7
Working Capital Days 11 24 39 26 42 65 64 40 39 49 32 39
ROCE % 20% 15% 18% 23% 23% 25% 31% 33% 39% 27% 25% 25%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
SSP Sales Volume
Lakh MT

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Crop Protection Segment PBIT
Rs Cr
Crop Protection Segment Revenue
Rs Cr
Phosphatic Fertilizer Sales Volume (NPK+DAP)
Lakh MT
Phosphatic Market Share
%
Rural Retail Stores
Number
Unique Grades Share in NPK Portfolio
%
Nano DAP Bottles Sold
Lakhs

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
57.34% 57.33% 57.33% 57.32% 57.17% 56.96% 56.96% 56.90% 56.88% 56.86% 56.35% 56.35%
7.18% 7.71% 7.34% 7.52% 7.79% 8.33% 10.61% 14.28% 14.51% 13.79% 13.02% 11.50%
21.11% 20.22% 20.63% 20.79% 21.26% 21.01% 18.97% 15.86% 15.78% 16.69% 18.19% 19.92%
14.37% 14.74% 14.70% 14.39% 13.77% 13.68% 13.44% 12.85% 12.73% 12.54% 12.24% 12.07%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.10% 0.10% 0.18% 0.17%
No. of Shareholders 1,23,6391,26,6281,36,4121,36,4971,41,3491,40,9591,43,5601,43,6231,45,2221,34,6551,37,3351,30,118

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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