Coromandel International posts Q2 Results
02 November 2023, New Delhi: Coromandel International Limited (BSE: 506395, NSE: COROMANDEL), India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertilizer and Retail. The Company has reported the financial results for the quarter ended 30th September 2023.
Highlights – Standalone Results:
- Total Income in Q2 was at Rs. 7,031 Cr vs Rs. 10,140 Cr over previous year, registering a de-growth of 31%
- EBITDA for Q2 was Rs. 1,064 Cr vs. Rs. 1,055 Cr in Q2 of previous year, registering a growth of 1%
- PAT for Q2 was Rs. 762 Cr vs Rs. 738 Cr in Q2 of previous year, registering a growth of 3%.
- Total Income in H1 was at Rs. 12,771 Cr vs Rs. 15,916 Cr over previous year, registering a de-growth of 20%
- EBITDA in H1 was at Rs. 12,771 Cr vs Rs. 15,916 Cr over previous year, registering a de-growth of 20%
- PAT for H1 was Rs. 1,267 Cr vs Rs. 1,234 Cr in H1 of previous year, registering a growth of 3%
Review of Businesses
Nutrient and Allied Business
The Revenue for the quarter ended September 2023 was at Rs. 6,307 Cr as against Rs. 9,461 Cr for the quarter ended September 2022. Profit before interest and tax for the quarter was Rs. 998 Cr vs. Rs. 955 Cr for the quarter ended September 2022.
The Revenue for the first half was at Rs. 11,499 Cr compared with Rs. 14,572 Cr in the corresponding period of the previous year. Profit before interest and tax for the first half was Rs. 1,670 Cr vs. Rs. 1,558 Cr in the corresponding period of the previous year.
Crop Protection Business
The Revenue for the quarter ended September 2023 was at Rs. 722 Cr as against Rs. 702 Cr for the quarter ended September 2022. Profit before interest and tax for the quarter was Rs. 88 Cr vs. Rs. 103 Cr for the quarter ended September 2022.
The Revenue for the first half was at Rs. 1,278 Cr compared with Rs. 1,356 Cr in the corresponding period of the previous year. Profit before interest and tax for the first half was Rs. 143 Cr vs. Rs. 188 Cr in the corresponding period of the previous year.
Consolidated Results
Coromandel’s total income for the quarter ended September 2023 was at Rs. 7,033 Cr vs. Rs. 10,145 Cr for the quarter ended September 2022. The profit after tax for the quarter was at Rs. 755 Cr as against Rs. 741 Cr for the quarter ended September 2022.
Coromandel’s total income for the first half was at Rs. 12,771 Cr vs. Rs. 15,927 Cr in the corresponding period of the previous year. The profit after tax for the first half was at Rs. 1,249 Cr as against Rs. 1,240 Cr in the corresponding period of the previous year.
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