Coromandel International (COROMANDEL) Q4 24/25 earnings summary

Executive summary

• Favorable agri-environment in FY25 with above-normal monsoons, higher reservoir levels, and government policy support boosting crop production and agri-sector growth by 4.6% year-over-year.

• Company undertook capacity de-bottlenecking, resumed Ennore plant operations, and increased phosphorus production by 6%.

• Major acquisitions included Baobab Mining and Chemicals Corporation S.A. becoming a subsidiary and a pending acquisition of up to 53.13% in NACL Industries Limited.

• Retail expansion with 130 new stores and strong digital presence; 99% of stores profitable.

• Long-term supply contract signed with Ma'aden for DAP and NPK fertilizers.

Financial highlights

• FY25 consolidated revenue from operations was ₹24,444 crore (up 10% YoY); Q4 consolidated total income: ₹5,114 crore (up 28% YoY).

• FY25 consolidated net profit after tax was ₹2,058.32 crore, up from ₹1,689.22 crore in FY24.

• Q4 FY25 EBITDA grew 56% YoY to ₹426 crore; FY25 EBITDA up 10% to ₹2,628 crore.

• Board approved final dividend of ₹6 per share and a special dividend of ₹3 per share.

• Subsidy received for full year: ₹8,082 crore (vs. ₹9,198 crore YoY); outstanding subsidy as of March 31, 2025: ₹1,654 crore.

Outlook and guidance

• High double-digit revenue growth expected in crop protection, domestic formulation, and export segments for FY26, with healthy profitability margins.

• Full ramp-up of new phosphoric and sulfuric acid capacities expected in FY27; granulation plant to be commissioned by Q4 FY27.

• The acquisition of NACL Industries Limited is expected to strengthen the business portfolio, subject to regulatory approvals.

• Nano DAP business expected to scale up, with potential to replace 2 million tons of DAP in 2-3 years and export opportunities being explored.

• EBITDA per ton guidance of ₹5,000 for manufactured fertilizers remains intact.