Coromandel International

“once we commercialize the plant in a steady state, we should generate that kind of number. But don't ask me this number for this quarter. It may not happen because of the spurt in input prices.”

“On the project front, Coromandel has commissioned the sulphuric acid plant and phos acid plant and operations have got stabilized.”

“Happy to note that granulation project is progressing well - as planned, we are on track for commissioning this in Q4 of this year.”

“the company is evaluating establishment of SSP facility at Senegal to cater to international markets and unlock additional value from its phosphate resources.”

“Our strategic project of setting up T-MAP plant at Kakinada and seaweed granulation plant are progressing well and will enhance our ability to offer differentiated crop solutions.”

“We are in the process of advancing our Fluoro chemistry capabilities and are establishing a launch facility to support product development and scale-up opportunities.”

“Capacity is 750,000 tonnes. We want to sell 50% of the volume through our own retail outlets.”

“With the commissioning of new PA-SA plant, 60% of the acid requirement are taken care”

“Phos acid production also got moderated to 1.2 lakh tons, more or less in line with last year.”

“Capacity expansion of key molecules is on track and is expected to be commissioned by September, strengthening our ability to support future growth.”

“Sulphuric acid achieved the rated capacity and also generated power as envisaged. Phosphoric acid operations are getting stabilized, and we are embarking on the new technology implemented to ensure optimum utilization of rock.”

“On defense orders, we are in the final stage - as and when it materializes, we should be able to scale up the volumes.”

“Volumes have been moderated by 9% to 10 lakh tons as compared to corresponding period last year. Despite this, the company has strengthened its market position, increasing the primary market share to 22% compared to 18% in the last year.”

“SSP business continued its strong growth trajectory with volumes increasing by 19%”

“At our Senegal operations, the rock phosphate mining project produced over 1.1 lakh tons for this quarter, broadly in line with our plan.”

“Revenue grew by 20% year-on-year to INR870 crores, while EBIT increased 44% to INR159 crores, reflecting improved product mix, traction for its key molecules and the ability to pass on higher raw material costs in the export market.”

“Share of sales in the new products in the domestic B2C stands at 32% as compared to 23% last year.”

“The point of sales increased by 13% to 7.9 lakh tons, resulting in market share improving to 16%.”

“This sort of subdued subsidy rates, especially for NP/NPK fertilizers have impacted production and imports during the quarter, which were down by 21% and 38%, respectively.”

“In fact, Urea and DAP stocks are reasonably comfortable and NPK stocks are also comfortable at this point of time to see through this kharif season.”

“On the agriculture side, India witnessed 23% of deficit rainfall on the long period average with most of the regions reporting lower rainfall.”

“On the crop protection sector, domestic market was muted. It's the early part of the kharif season. Demand was impacted due to delay in crop sowings.”

“As you are aware, phosphoric acid prices for Q2 has been settled at $1,700 as compared to $1,360 prevailed in Q1, reflecting a sharp increase in line with the increase in international price of DAP and other raw material inputs.”

“consolidated EBITDA for the quarter was INR761 crores against INR782 crores last year, registering a degrowth of 3%. The decrease in EBITDA is mainly due to higher input cost on account of the ongoing West Asia crisis”

“due to higher sulphur prices, we have optimized the usage of sulphur and operated sulphuric acid plants at a moderate capacity to extend the availability of sulphur for a longer period.”

“Fertilizer business margins were under pressure due to sudden spurt in key input raw materials like ammonia and sulphur.”

“The industry has taken some price change. At this point of time, this is the maximum the industry can do. Beyond this, this has to come through subsidy.”

“the company received INR1,392 crores towards the subsidy claims compared to INR1,300 crores last year in Q1.”

“Subsidy outstanding as on 30th June was about INR3,254 crores. We have received additional subsidy of INR568 crores in the month of July.”

“Most of us have calibrated our purchases and production to avoid any carryover of high-cost inventories.”

“Coromandel continues to hedge its exposures on a conservative basis.”

“Government has been prompt in clearing the subsidy dues. As of today, we have received our subsidy claims till the third week of June.”

“Besides that, we are also evaluating purified phos acid for battery chemicals. These projects are under evaluation.”

“On the CDMO side, we are trying to do it in an organic way. It calls for a huge investment for various fluorination-based derivatives to be manufactured.”

“Along with NACL, we are trying to see how best we can provide intermediate support to global MNCs instead of finished agrochemicals, which requires registration.”

“I wish we can do that.”

“The business strengthened its innovation pipeline with the launch of 3 new products across water-soluble and sulphur nutrition segments.”

“Only on account of additional capex, the increase is around INR16 crores to INR18 crores, not more than that.”

“So this is a combination of PA-SA gap of INR16 crores and amortization of NACL intangible’s INR20 crores and rest is coming mainly from mining charge towards overburden.”

“Mining will be INR30-odd crores.”

“It's pertinent to note that last year's Q1 results does not include the NACL numbers as it became a subsidiary effective 8th August 2025 onwards.”

“There has been a ban on some of these products from fertilizer companies in the state of UP and Maharashtra, which moderated the growth.”

“These rates do not fully compensate for the increase in global raw material costs, which happened subsequent to Middle East crisis.”

“The correction we are seeking is for the ongoing kharif season because we don't want to increase MRP beyond the current level.”

“Of course, the Sulphur expansion has not really helped due to the current situation, but these are temporary.”

“Obviously, there is a pressure on overall subsidy bill across various product categories.”

“It has applied for type certifications of new drones, which can improve the efficiency and increase the battery life of drones.”

“Coromandel has achieved a significant sustainability milestone during the quarter with the receipt of Responsible Care Certification”

“During the quarter, company recorded a consolidated total income of INR8,215 crores as against INR7,126 crores in Q1 of last year, registering a growth of 15%.”

“The revenue share from subsidy business stands at 77% during the quarter.”

“Net profit for the quarter was INR382 crores in comparison to INR502 crores last year.”