Coromandel International (COROMANDEL) Q1 25/26 earnings summary

Executive summary

• Q1 saw strong growth with consolidated revenue at ₹7,042 crore, up 49% year-over-year, and PAT at ₹502 crore, up 62% year-over-year, driven by favorable monsoon, increased crop sowing, and robust agri input demand.

• EBITDA increased 55% to ₹782 crore, supported by operational excellence, procurement efficiencies, and margin expansion in crop protection and other businesses.

• Expansion in capacity utilization, digital interventions, and new product launches contributed to improved throughput and market share.

• Strategic backward integration and acquisitions, including increased stake in Senegal's BMCC and progress on the NACL acquisition, enhance raw material security and product portfolio.

• The Board approved unaudited results on 24 July 2025, with a limited review and unmodified reports from statutory auditors.

Financial highlights

• Consolidated total income rose 49% year-over-year to ₹7,126 crore, with EBITDA margin stable at 11% and PAT margin at 7%.

• Basic EPS increased to ₹17.2 from ₹10.6 year-over-year; book value per share rose to ₹394 from ₹328.

• Net debt to equity ratio remained at 0.0 times, indicating a strong balance sheet.

• Subsidy share of business at 83% of revenue; ₹1,300 crore subsidy received during the quarter, with outstanding subsidy at ₹2,911 crore.

• Total expenses for the quarter were ₹6,448.72 crore, up from ₹4,345.74 crore year-over-year.

Outlook and guidance

• Expectation of sustained normative EBITDA per metric ton of ₹5,000 for the year.

• Ongoing capacity expansions and new product introductions to drive future growth, with incremental CapEx planned beyond current ₹2,000 crore commitment.

• Crop protection segment expected to deliver strong results, with momentum likely to continue in coming years.

• The company is awaiting regulatory approval to complete the acquisition of up to 53.13% of NACL Industries Limited, which will become a subsidiary upon completion.