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Business Standard
02-05-2025
- Business
- Business Standard
Portfolio Check: Murugappa Group fertiliser stock nearly doubles in 1 year
Share price of Coromandel International today Shares of Coromandel International, one of the flagship companies of Murugappa group, hit a new high of ₹2,338, surging 5 per cent on the National Stock Exchange (NSE) in Friday's intraday trade, after the fertiliser company reported a good set of numbers for the quarter ended March 2025 (Q4FY25). The stock price of the fertiliser company surpassed its previous high of ₹2,295, which it touched on April 29, 2025. In the past one year, Coromandel International's share price has nearly doubled, zooming 95 per cent from a level of ₹1,196.55 on May 2, 2025. In the past two months, the stock has rallied 41 per cent. Q4 results of Coromandel International Coromandel International reported an overall revenue of ₹4,988 crore in Q4FY25, up 27 per cent year-on-year (Y-o-Y). Nutrient & other allied business revenue grew 28 per cent Y-o-Y to ₹4,320 crore, while crop protection business revenue increased 24 per cent Y-o-Y to ₹698 crore. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin expanded 160bp Y-o-Y to 8.5 per cent. Ebitda jumped 56 per cent Y-o-Y at ₹426 crore. Adjusted profit after tax was up 89 per cent Y-o-Y during the quarter at ₹303 crore. The management said Nutrient and Crop Protection segments witnessed robust growth, complemented by encouraging farmer response to their new initiatives like Gromor Drive – Agri drone spraying and Nano fertilisers. The Retail business expanded its footprint with 100 new stores and entry into Maharashtra and Tamil Nadu, crossing the 900-store mark. In Crop Protection, capacity enhancements at Dahej and the new plant at Ankleshwar are building scale, while the NACL acquisition will expand the company's product portfolio and market presence internationally. With strong fundamentals and a committed team, the management is confident of sustaining growth and contributing meaningfully to Indian agriculture and the Aatmanirbhar Bharat vision. Acquisition of NACL Industries On March 12, 2025, Coromandel International announced the acquisition of a 53-per cent stake, worth around ₹820 crore, in NACL. This transaction is expected to be completed by the first half of fiscal 2026, subject to regulatory approvals. This acquisition will augment the crop protection business of Coromandel, strengthen its presence in the domestic formulations business, expand existing product portfolio, and help in securing contract manufacturing relationships with NACL's established customer relationships, according to CRISIL Ratings. The government has also demonstrated its financial support to the fertiliser sector via additional subsidies in the past two fiscal years. The announced subsidy of ~₹1.67 trillion for fiscal 2026 should be sufficient to meet the requirement. This, combined with healthy cash accrual and surplus liquidity will be sufficient to fund working capital requirement, thus enabling it to maintain its net debt-free position over the medium term, the rating agency said. Since a timely disbursement of the entitled subsidy is crucial for the company to maintain its robust financial risk profile, any change in policy support or sustained delays in payouts would remain monitorable, CRISIL Ratings said in its rationale. Sector outlook Going forward, the trajectory of monsoon will be the key determinant of fortunes for agrochemical companies. In H1FY25, rains were in excess, which impacted the demand for agrochemicals. Going forward, analysts at Elara Capital said the monsoon is likely to transition from 'La Nina' to 'El Nino Neutral' conditions, which may lead to lower rainfall than last year. But if the timing and spatial distribution are not impacted, demand for agrochemicals would be better than last year. Seed availability is also expected to improve in Q1FY26. About Coromandel International Coromandel International is amongst India's pioneers and leading agri-solutions provider, offering diverse products and services across the farming value chain. The company's business structure is bifurcated into two segments: nutrient and other allied businesses, and crop protection business. The nutrient and other allied segment includes the manufacturing and marketing of phosphatic fertilisers, speciality nutrients, organic fertilisers and retail. The crop protection business includes manufacturing of bio-based and chemical pesticides. The company has the capacity to manufacture over 3.6 million tonne (MT) of fertilisers and pesticides and 1.0 MT of single super phosphate per annum. Besides this, the company manufactures water-soluble fertilisers, biopesticides and agrochemical technicals and formulations.
United News of India
30-04-2025
- Business
- United News of India
Coromandel International Q4FY25 net profit jumps to Rs 578 cr
Hyderabad, Apr 30 (UNI) Coromandel International Limited, one of India's leading Agri-solutions providers, on Wednesday reported that its consolidated net profit jumped to Rs 578 crore for the quarter ended March 31, 2025, from Rs 164 crore in the corresponding quarter in previous year. The company's consolidated total income during the quarter was Rs. 5,114 crore as compared Rs. 3,996 crore in Q4 of previous year, the company said in a statement. However, for the year ended March 31, 2025, the company's consolidated net profit was Rs. 2,055 crore as against Rs. 1,641 crore in previous year.. The Company operates across diverse segments including Fertilisers, Crop Protection Chemicals, Bio Products, Specialty Nutrients, and Organic Fertilisers. Coromandel has also strengthened its presence in the Agri-retail sector and made significant strides in the emerging Agri-drone spraying services. The Board of Directors of the company has approved the financial results of the company for the quarter and year ended 31st March 2025. Additionally, the Board has recommended a final dividend of Rs. 9 per share (900% on face value of Rs. 1 per equity share) for the financial year 2024-25. The Board has also approved the appointment of Natarajan Srinivasan as Executive Vice Chairman. Commenting on the financial results, S Sankarasubramanian, Managing Director & CEO, Coromandel International Limited said, We are pleased to report a strong performance for FY24-25, driven by sustained momentum across our businesses. Our growth was supported by higher sales volumes, improved operational efficiency, and disciplined execution of strategic initiatives. Our Nutrient and Crop Protection segments witnessed robust growth, complemented by encouraging farmer response to our new initiatives like Gromor Drive – Agri drone spraying and Nano fertilisers. The Retail business expanded its footprint with 100 new stores and entry into Maharashtra and Tamil Nadu, crossing the 900-store mark, he said. On the manufacturing front, rock production at our mining site BMCC, Senegal stabilised, and we increased our stake to 53.8 percent. The upcoming Phosphoric acid and sulphuric acid project at Kakinada (Andhra Pradesh) is progressing as per plan and will be commissioned early next year, Sankarasubramanian said. Alongside this, the setting up of the new Granulation Train at Kakinada aligns with our commitment to ensure availability of high-quality NPK fertilisers to the farming community across India. These projects are aligned with our vision of achieving greater self-reliance in phosphatic fertilisers and building a more resilient, integrated supply chain, the Coromandel International CEO said. In Crop Protection, capacity enhancements at Dahej and the new plant at Ankleshwar are building scale, while the NACL acquisition will expand our product portfolio and market presence internationally, he added. UNI KNR CS
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Business Standard
30-04-2025
- Business
- Business Standard
Coromandel International Q4 results: Profit rises over two-fold to ₹578 cr
Coromandel International, one of India's leading agri-solutions providers, has posted an over two-fold jump in its consolidated net profit for the fourth quarter of the financial year 2024-25 to Rs 578 crore, as against Rs 164 crore during the January to March quarter of 2023-24. Coromandel's total income for the quarter ended March 2025 was at Rs 5,114 crore versus Rs 3,996 crore for the quarter ended March 2024, up 28 per cent. The profit after tax for the financial year was up by 25 per cent to Rs 2,055 crore as against Rs 1,641 crore in the previous year. Coromandel's total income for FY25 was at Rs 24,444 crore versus Rs 22,290 crore in the previous year. "We are pleased to report a strong performance for FY25, driven by sustained momentum across our businesses. Our growth was supported by higher sales volumes, improved operational efficiency, and disciplined execution of strategic initiatives," said S Sankarasubramanian, managing director and chief executive officer, Coromandel International. The board has recommended a final dividend of Rs 9 per share (900 per cent on face value of Rs 1 per equity share) for the financial year 2024-25. The board has also approved the appointment of Natarajan Srinivasan as executive vice chairman. He brings with him a wealth of experience and strategic acumen, further strengthening the leadership team as the company enters its next phase of growth and transformation. "Our Nutrient and Crop Protection segments witnessed robust growth, complemented by encouraging farmer response to our new initiatives like Gromor Drive – agri drone spraying and nano fertilisers. The retail business expanded its footprint with 100 new stores and entry into Maharashtra and Tamil Nadu, crossing the 900-store mark. On the manufacturing front, rock production at our mining site BMCC, Senegal stabilised, and we increased our stake to 53.8 per cent," he added. "The upcoming phosphoric acid and sulphuric acid project at Kakinada is progressing as per plan and will be commissioned early next year. Alongside this, the setting up of the new granulation train at Kakinada aligns with our commitment to ensure availability of high-quality NPK fertilisers to the farming community across India. These projects are aligned with our vision of achieving greater self-reliance in phosphatic fertilisers and building a more resilient, integrated supply chain. In Crop Protection, capacity enhancements at Dahej and the new plant at Ankleshwar are building scale, while the NACL acquisition will expand our product portfolio and market presence internationally," Sankarasubramanian said.
