Q3 2026 Coromandel International Ltd Earnings Call Transcript
Key Points
- Coromandel International Ltd (BOM:506395) achieved its highest ever quarterly fertilizer production of 9.9 lakh tonnes, an 18% increase over the previous year.
- The company reported a 26% growth in total income for the quarter, reaching INR8,863 crore, and a 33% growth for the nine-month period.
- Crop Protection business showed strong performance with a 24% revenue growth and a 74% increase in EBIT, resulting in a margin improvement from 14% to 30%.
- The Specialty Nutrient business achieved record Q3 volumes, driven by improved performance in micronutrients and organic categories.
- Coromandel's mining project in Senegal has stabilized operations and is on track to achieve an annual volume of 3.5 lakh tonnes of rock production, enhancing supply security.
- The rupee depreciated by approximately 7% year-to-date, driven by a widening trade deficit and higher capital outflow, impacting margins.
- Extended monsoon rains affected fertilizer consumption, leading to a 7% decrease in overall consumption during the quarter.
- The company's consumption-based market share in Q3 moderated to 14% from 15% last year, due to reduced consumption in Andhra Pradesh and Telangana.
- Higher raw material prices, particularly for sulphur and ammonia, along with currency depreciation, put pressure on fertilizer margins.
- NACL Industries, a subsidiary, faced challenges with lower capacity utilization at its Dahej facility, impacting margins despite improvements in other areas.
Ladies and gentlemen, good day, and welcome to Coromandel International Limited Q3 FY26 earnings conference call hosted by IIFL Capital Services Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand over the conference to Mr. Ranjit from IIFL Capital. Thank you, and over to you, sir.
Thank you, [Pari]. Good afternoon, everyone, and thank you for joining us on the Coromandel International Limited Q3 FY26 earnings conference call. From the company, we have with us Mr. Sankarasubramanian, Managing Director and Chief Executive Officer; and Mr. Deepak Natarajan, CFO.
We'd like to begin the call with a brief opening remark from the management, following which we will have the forum open for interactive Q&A session. I would now like to invite Mr. Sankarasubramanian to make the initial remarks.
Thank you, and over to you, sir.
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