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 32.8
  • Book Value 426
  • Dividend Yield 0.53 %
  • ROCE 22.0 %
  • ROE 16.4 %
  • Face Value 1.00

Pros

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

Consolidated Figures in Rs. Crores / View Standalone

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 6,988 5,464 3,913 4,729 7,433 6,935 4,988 7,042 9,654 8,779 6,004 8,165
4,988 5,933 5,115 3,650 4,238 6,471 6,222 4,579 6,260 8,508 7,980 5,516 7,409
Operating Profit 706 1,055 349 263 490 962 713 409 782 1,147 800 488 756
OPM % 12% 15% 6% 7% 10% 13% 10% 8% 11% 12% 9% 8% 9%
44 45 59 84 54 65 114 473 84 116 83 -6 50
Interest 41 46 38 62 57 66 73 66 68 102 84 89 89
Depreciation 48 54 64 63 65 69 71 85 121 102 147 165 203
Profit before tax 661 1,000 306 222 422 892 683 731 677 1,059 653 228 514
Tax % 25% 25% 25% 26% 27% 26% 26% 21% 26% 25% 25% 50% 26%
494 755 228 164 309 659 508 578 502 793 488 115 382
EPS in Rs 16.80 25.71 7.85 5.45 10.56 22.55 17.37 19.67 17.13 27.31 17.15 4.74 12.91
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
11,306 11,481 10,031 11,083 13,225 13,137 14,182 19,111 29,628 22,058 24,085 31,480 32,602
10,450 10,712 9,048 9,822 11,775 11,400 12,193 16,954 26,726 19,678 21,508 28,248 29,412
Operating Profit 856 769 983 1,261 1,450 1,737 1,989 2,156 2,902 2,380 2,577 3,232 3,190
OPM % 8% 7% 10% 11% 11% 13% 14% 11% 10% 11% 11% 10% 10%
50 87 54 55 8 35 76 141 171 223 703 262 243
Interest 210 221 224 178 251 235 106 75 190 187 262 343 364
Depreciation 105 106 101 99 114 158 173 173 182 229 290 534 616
Profit before tax 592 529 712 1,038 1,093 1,379 1,786 2,050 2,701 2,188 2,728 2,617 2,454
Tax % 32% 32% 33% 33% 34% 23% 26% 25% 25% 25% 25% 27%
402 357 477 691 720 1,065 1,329 1,528 2,013 1,641 2,055 1,898 1,778
EPS in Rs 13.80 12.27 16.35 23.64 24.63 36.36 45.30 52.08 68.46 55.78 70.14 66.31 62.11
Dividend Payout % 33% 33% 31% 27% 26% 33% 26% 23% 18% 11% 21% 3%
Compounded Sales Growth
10 Years: 11%
5 Years: 17%
3 Years: 2%
TTM: 24%
Compounded Profit Growth
10 Years: 19%
5 Years: 8%
3 Years: -1%
TTM: -6%
Stock Price CAGR
10 Years: 24%
5 Years: 18%
3 Years: 26%
1 Year: -20%
Return on Equity
10 Years: 22%
5 Years: 20%
3 Years: 17%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 2,173 2,605 2,862 2,867 3,329 4,288 5,121 6,329 7,878 9,390 11,058 12,528
2,288 2,677 2,228 2,728 2,954 2,019 385 395 393 492 780 1,506
3,872 3,871 3,526 4,224 4,261 3,812 3,360 4,532 5,934 5,933 7,049 10,397
Total Liabilities 8,362 9,182 8,645 9,848 10,574 10,149 8,895 11,285 14,235 15,845 18,917 24,461
1,380 1,320 1,328 1,327 1,309 2,032 2,015 2,092 2,200 3,112 4,139 6,737
CWIP 46 42 22 48 191 65 90 141 399 235 396 348
Investments 352 477 388 221 201 211 214 243 287 854 1,031 2,044
6,583 7,343 6,907 8,252 8,873 7,840 6,576 8,809 11,348 11,644 13,351 15,331
Total Assets 8,362 9,182 8,645 9,848 10,574 10,149 8,895 11,285 14,235 15,845 18,917 24,461

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
86 18 915 263 526 1,862 4,150 2,078 591 1,428 2,464 1,558
-216 -61 -79 38 -597 -220 -1,245 -1,622 640 -1,333 -2,638 -559
-64 8 -864 -1 -244 -1,723 -2,263 -443 -543 -363 -698 -831
Net Cash Flow -194 -34 -28 300 -314 -82 642 14 688 -269 -872 168
Free Cash Flow -6 -89 834 134 255 1,606 3,958 1,801 22 910 2,030 22
CFO/OP 27% 25% 120% 49% 62% 128% 232% 119% 45% 86% 123% 71%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 47 52 59 52 50 48 14 5 7 23 19 24
Inventory Days 96 98 88 109 127 109 98 94 69 102 98 111
Days Payable 131 135 150 162 147 135 110 100 83 119 123 136
Cash Conversion Cycle 12 15 -3 -2 30 22 2 -1 -7 6 -7 -1
Working Capital Days 11 24 40 27 42 65 64 41 37 46 28 35
ROCE % 19% 15% 18% 23% 23% 26% 32% 35% 38% 26% 23% 22%

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
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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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