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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.
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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.
Yahoo
24-03-2025
- Business
- Yahoo
Postal workers protest proposed changes to USPS
FALL RIVER, Mass. (WPRI) — Postal workers gathered in Fall River on Sunday to protest the White House's proposed changes to the U.S. Postal Service (USPS). Last week, Postmaster General Louis DeJoy agreed to work with Elon Musk's Department of Government Efficiency (DOGE) to cut 10,000 workers and billions of dollars from USPS's budget. Branches of the National Association of Letter Carriers (NACL) held rallies across the country to protest efforts to 'privatize or restructure USPS.' In a flyer for the protest, the NACL said that the proposed changes would result in raised shipping costs and the reduction of services to more than 51 million homes and businesses in rural communities. ALSO READ: Rhode Islanders shred utility bills at State House to protest rising costs Christopher Grinnell is the president of NALC Branch 51 and was at the protest in Fall River. 'The postal service that they have counted on for centuries, because you know we're older than the country itself, is under attack,' Grinnell said. 'People may see differences in their services.' Similar rallies were also held in Providence, Taunton and Boston. Download the and apps to get breaking news and weather alerts. Watch or with the new . Follow us on social media: Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
12-02-2025
- Politics
- Yahoo
Ohio bill to put Ten Commandments in classrooms has ties to national Christian group
COLUMBUS, Ohio (WCMH) — A national Christian advocacy group that supports letting students leave school grounds for religious instruction now is pushing for allowing the Ten Commandments to be posted in classrooms across Ohio. An NBC4 analysis found several ties between Ohio politicians and the legislative priorities of the National Association of Christian Lawmakers. The NACL, identified by Project 2025 as one of its 114 advisory members, lists its mission as bringing Christian lawmakers together in support of biblical principles, which it does by discussing model legislation. In December, members saw presentations about the Ten Commandments and religious release time. Ohio lawmakers push to hold men accountable for role in conception Ohio lawmakers are considering Senate Bill 34, a bill that would require classrooms to post one of multiple historical documents, a list that includes the Ten Commandments. It had its first hearing on Tuesday. The Supreme Court first ruled decades ago that posting the Ten Commandments on public school or government property would violate the separation of church and state, and federal courts have consistently upheld this decision. 'This bill is part of a national effort by religious conservatives to tear down the wall separating church and state created by the Establishment Clause in the U.S. Constitution,' Ohio Senate Democratic Leader Nickie Antonio said. 'This is simply one of several historical documents referenced as options in the bill,' Ohio Senate Republicans spokesperson John Fortney said. 'It's important to remember that whether it is the Declaration of Independence, The Bill of Rights, or the Ten Commandments, the founding fathers weren't against religion in government, they were against a government religion and none of these options establishes a government religion.' Confusion, worry with Trump's Department of Education plans In Ohio's bill, the list of historical documents also includes: The Mayflower Compact The Declaration of Independence The Northwest Ordinance The mottoes of the U.S. and the state of Ohio The Magna Carta The Bill of Rights The U.S. Constitution The Articles of Confederation The NACL sample bill was not published online, so NBC4 was unable to compare it directly with S.B. 34. The state NACL vice chair is a member of Ohio's General Assembly, Rep. Gary Click (R-Vickery), and the state chair is Ohio Treasurer Robert Sprague. Sprague recently announced he will not run for governor in 2026, seemingly in anticipation of a run by businessman Vivek Ramaswamy. Sprague is now seeking the Secretary of State office, and he attended the December presentations. The historical documents bill comes after Ohio approved a law requiring public schools to enact release policies for religious instruction during the school day off school property. Those efforts are most visibly seen in central Ohio through LifeWise, which is headquartered in Hilliard and has launched programs in multiple districts. Ohio higher education bill fast-tracked at Statehouse At the December meeting, a LifeWise representative presented about the importance of release time for religious instruction and how states should ensure their laws about release time say districts 'shall' implement release policies, rather than districts 'may.' At the end of his presentation, he provided a sample bill for legislators to implement. At the time of the presentation, Ohio had 'may implement' language on the books. Within a week of the NACL presentation, Ohio passed its RTRI new law. Much of Ohio's law mirrors the draft legislation in LifeWise' presentation, with several lines repeated verbatim. See previous coverage of this legislation in the video player above. 'Like many nonprofits, we do engage in lobbying activities in accordance with the legally allowable time,' LifeWise founder and CEO Joel Penton said. 'Some members of our staff also provide education materials about legislation that is aligned with our mission.' In the first hearing for the historical documents bill, sponsor Terry Johnson (R-McDermott) said it was 'inexcusable' they did not receive enough attention in classrooms. He also said the legislation ensured no public funds were required to pay for the costs of hanging the documents. Johnson said although public funds could be used, it also allowed for donations to cover costs. What proposed tariffs could mean for Ohio Intel plant 'Simply put, this legislation intends to reintroduce disciplined historic principles — those same principles upon which our Founding Fathers drew inspiration and put to writing — back to the classroom,' Johnson said. Other senators voiced concerns about the cost and whether it was appropriate to include a religious document. Sen. Catherine Ingram (D-Cincinnati) asked why the Ten Commandments were present, to which Johnson said they were foundational to the nation. Johnson also said the bill was not about the Ten Commandments, just about central historical documents. Nik Nartowicz, lead policy council for Americans United for Separation of Church and State, disagreed with Johnson. He said there was not a clear educational purpose in posting the Ten Commandments and reiterated that lawmakers are not allowed to impose their religious beliefs on constituents. He also said the Ten Commandments are a sacred text for people of faith across multiple religions and argued putting up printouts of the text could be disrespectful. From sideline to Statehouse: Jim Tressel's journey to Ohio's lieutenant governor 'I think this is being pushed as a way to honor religion, but it trivializes a sacred text,' Nartowicz said. Further hearings for the bill are not yet scheduled. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
