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Coromandel International (COROMANDEL) investor relations material
Coromandel International Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY27 consolidated revenue was ₹10,294.13 crore (+7% YoY) and total income ₹10,348 crore (+6%); EBITDA was ₹944 crore (-18%) and PAT ₹523.37 crore (-34%).
H1 FY27 consolidated revenue was ₹18,458.90 crore (+11%) and total income ₹18,563 crore (+10%); EBITDA was ₹1,705 crore (-12%) and PAT ₹904.93 crore (-30%).
Financial highlights
Q2 depreciation rose 49% YoY to ₹152 crore and finance costs rose 36% to ₹138 crore; H1 depreciation rose 60% to ₹355 crore and finance costs 34% to ₹227 crore.
Subsidy business was 81% of Q2 total income and 58% of profitability, versus 83% and 72% a year earlier; H1 shares were 79% and 53%, versus 83% and 70%.
Subsidy receipts were ₹3,086 crore in Q2 and ₹4,478 crore in H1; September-end outstanding subsidy was ₹3,535.41 crore, versus ₹3,199 crore a year earlier; ~₹1,200 crore more arrived in October.
H1 operating cash flow was -₹1.91 crore standalone and ₹53.76 crore consolidated, versus ₹1,945.21 crore and ₹1,971.48 crore in H1 FY26.
Net debt-to-equity was 0.0x; book value per share was ₹454, up 10% YoY. Q2 basic EPS was ₹18.1 and H1 EPS ₹31.1, down 34% and 30%, respectively.
Outlook and guidance
Management expects a stronger H2 on revised Rabi NBS support, moderating input costs and seasonal recovery; precise FY27 EBITDA-per-ton guidance may follow after another quarter.
Revised NBS rates could permit 10%-15% MRP moderation for some NP grades, subject to final notification, input costs and available margin headroom.
Rabi outlook was cautiously positive as rainfall replenished soil moisture and sowing picked up, though aggregate acreage remained behind the prior year at the reported stage.
Kakinada granulation plant commissioning is targeted by February, with full-capacity operation planned next year and differentiated grades prioritized.
Backward integration is expected to add value in H2; the PA plant returned to full capacity after sulfur support, with $300-$350 spreads described as reasonable.
- Record output and higher earnings were tempered by unresolved subsidy and pricing risks.COROMANDEL
Q4 96/97 - Record earnings and acid output, alongside a urea shutdown and capacity expansion plan.COROMANDEL
Q4 98/99 - Profit grew for a fourth year as cost controls offset steep fertilizer-sector headwinds.COROMANDEL
Q4 97/98 - Record operating performance and market-share gains offset by an ammonia write-off and lower net income.COROMANDEL
Q4 01/02 - Drought and subsidy pressures cut earnings; efficiency and expansion plans shaped the response.COROMANDEL
Q4 02/03 - Record output and profit amid subsidy, fuel-cost and market pressures.COROMANDEL
Q4 00/01 - Record sales and profit, tempered by subsidy uncertainty and intensifying competition.COROMANDEL
Q4 99/00 - Record fertiliser volumes and higher profit followed major consolidation, amid subsidy and input-cost risks.COROMANDEL
Q4 03/04 - Record fertiliser volumes lifted FY05 profit, while subsidy and input-cost risks persisted.COROMANDEL
Q4 04/05
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