Q3 2025 Coromandel International Ltd Earnings Call Transcript
Key Points
- Coromandel International Ltd (BOM:506395) reported a significant increase in consolidated total income, with a 28% growth for the quarter and 6% for the nine months.
- The company achieved a resilient performance with increased volumes across business segments and improved operational efficiencies.
- The new sulphuric acid plant operated at over 100% capacity, contributing to power savings and cost efficiencies.
- The company has successfully expanded its market presence in northern India, doubling its volumes in these regions compared to the previous year.
- The retail business showed strong performance with a 20% growth in top-line revenue and a 17% increase in profitability.
- There were challenges in the availability of sulfuric acid, which affected the scaling up of SSP volumes.
- The company faced a dip in non-subsidy non-Crop Protection EBITDA, attributed to a reduction in the bio business export orders.
- There is a shortfall in margins for certain products due to increased raw material prices, such as sulphur and sulfuric acid.
- The company is still awaiting favorable adjustments from the government regarding subsidy rates to offset increased costs.
- The drone subsidiary has not yet turned profitable, with pending orders and reliance on future traction in the agri and defense sectors.
Ladies and gentlemen, good day, and welcome to Coromandel International Q3 FY25 Earnings Conference Call. (Operator Instructions)
I now hand the conference over to Mr. Ranjit Cirumalla from IIFL Capital. Thank you, and over to you, sir.
Thank you, Muskan. Good afternoon, everyone. Welcome to the Coromandel International's Q3 FY25 Earnings Conference Call. We thank the management for giving us this opportunity to host the earnings call today.
From the management, we have with us Mr. Sankarasubramanian, Managing Director and Chief Executive Officer; Dr. Raghuram Devarakonda, Executive Director, CPC, Byproducts and Retail; and Mrs. Jayashree Satagopan, President, Corporate and CFO.
We would begin the call with an opening remarks from the management, post which we will have a Q&A session. Over to you.
Good afternoon, everyone, and thanks, Ranjit, for
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