Coromandel International (COROMANDEL) Q4 25/26 earnings summary

Executive summary

• Achieved record fertilizer production of 3.5 million tons and highest-ever revenue of INR 31,827 crores for FY26, with strong operational performance despite raw material price volatility and supply disruptions.

• Crop protection business grew robustly, aided by the NACL acquisition, new product launches, and export recovery; retail and specialty nutrients segments also delivered strong growth.

• Audited financial results for FY26 were approved with an unmodified opinion; a final dividend of Rs. 2 per share was declared.

• Backward integration strengthened with commissioning of new sulfuric and phosphoric acid plants at Kakinada and increased stake in Senegalese mining operations.

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

Financial highlights

• Q4 FY26 revenue: INR 6,058 crores (up 19–20% YoY); FY26 revenue: INR 31,827 crores (up 30–31% YoY).

• Q4 FY26 EBITDA: INR 494 crores (up 16% YoY); FY26 EBITDA: INR 3,232 crores (up 23% YoY).

• Q4 FY26 PAT: INR 115 crores (down 80% YoY); FY26 PAT: INR 1,898 crores (down 8% YoY).

• Received INR 10,649 crores in subsidy for the year, with outstanding subsidy at INR 2,168 crores as of March.

• Book value per share increased to INR 426 in FY26 from INR 376 in FY25.

Outlook and guidance

• Expect continued margin pressure in fertilizers due to high raw material costs and lag in subsidy adjustments; industry is seeking additional government support.

• Crop protection business targets 20–25% revenue growth, driven by new product launches and capacity expansion.

• Nano DAP and drone businesses positioned for future growth, with ongoing investments and market development.

• The Board expects continued focus on core segments and integration of recent acquisitions, particularly NACL.

• Forward-looking statements indicate expectations of continued growth and strategic consolidation, but actual results may vary due to market and regulatory factors.