Q1 2027 Coromandel International Ltd Earnings Call Transcript
Key Points
- Coromandel International Ltd (BOM:506395) reported a 15% increase in consolidated total income, reaching INR8,215 crore, driven by higher fertilizer realization and growth in non-subsidy business.
- The company achieved a significant sustainability milestone with the receipt of Responsible Care certification, reflecting its commitment to high standards of health, safety, and environment.
- The Crop Protection business delivered a record performance in Q1, with revenue growing by 20% year-on-year to INR870 crore and EBITDA increasing by 44% to INR159 crore.
- Coromandel's retail business saw an 85% year-on-year revenue increase, benefiting from strong farmer engagement and an expanded store network.
- The company strengthened its market position, increasing its primary market share to 22% compared to 18% in the previous year.
- India experienced a 23% deficit in rainfall, affecting agricultural activities and leading to moderated fertilizer offtake.
- The company's EBITDA decreased by 3% due to higher input costs from the ongoing West Asia crisis, which were not fully offset by the revision in NBS rates.
- Elevated global prices of key raw materials like phosphoric acid, ammonia, and sulfur put pressure on fertilizer business margins.
- The government subsidy rates announced did not fully compensate for the increase in global raw-material costs, impacting production.
- The domestic crop protection market was muted due to delayed crop sowings, affecting demand.
Ladies and gentlemen, good day and welcome to Coromandel International Limited Q1 FY27 earnings conference call.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Manish Mahawar from Antique Stock Broking. Please, thank you, and over to you, sir.
Thank you, Shruti. On behalf of Antique Stock Broking, I am pleased to host today's earnings call of Coromandel International.
Today, we have Mr. Sankarasubramanian S as Managing Director and CEO; Mr. Deepak Natarajan, CFO, on the call.
Without further ado, I would like to hand over the call to Mr. Sankar for opening remarks; post which, we will open the floor for Q&A. Thank you and over to you, Mr. Sankar.
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