Article Focus Summary:
Coromandel International reports robust Q3 FY26 results with strong performance in fertilisers and crop protection, sustained revenue growth, and continued investment in agri-technology and retail expansion.
Q3 FY26 Financial Performance Overview
Coromandel International Limited (BSE: 506395, NSE: COROMANDEL), a flagship company of the Murugappa Group and one of India’s top agri-solutions providers, posted its financial results for Q3 and nine months ending December 31, 2025. Despite industry headwinds, the company reported stable profitability and continued leadership in the fertiliser and crop protection sectors.
Consolidated Financial Results
- Q3 FY26 Total Income: ₹8,863 crore
(Up from ₹7,049 crore in Q3 FY25, 25.7% YoY growth) - Q3 FY26 PAT: ₹488 crore
(Down slightly from ₹508 crore YoY) - YTD FY26 Total Income: ₹25,759 crore
(Up from ₹19,330 crore YTD FY25) - YTD FY26 PAT: ₹1,784 crore
(Up from ₹1,476 crore YoY)
Dividend Announcement
The Board declared an interim dividend of ₹9 per equity share (900% of the face value), reflecting the company’s strong earnings and cash flows.
CEO Commentary: Strategic Growth in Challenging Conditions
Managing Director and CEO Mr. S. Sankarasubramanian highlighted the company’s resilience amid late monsoon withdrawal, raw material price spikes, and rupee depreciation. Key remarks:
- Full-capacity production at fertiliser plants led to a record 1.0 million tons of NPKs this quarter.
- Cumulative phosphatic fertiliser sales hit 3.6 million tons, with 10% volume growth.
- Crop protection exports and domestic sales surged.
- The company’s retail network added 250+ new stores, strengthening its pan-India presence.
Business Segment Performance
Nutrient and Allied Business
Quarterly Performance (Q3 FY26 vs Q3 FY25)
- Revenue: ₹7,753 crore (up from ₹6,363 crore)
- PBIT: ₹615 crore (slightly down from ₹635 crore)
YTD Performance (9M FY26 vs 9M FY25)
- Revenue: ₹22,722 crore (up from ₹17,307 crore)
- PBIT: ₹2,250 crore (up from ₹1,932 crore)
Key Project Updates
- Backward integration projects—Sulphuric Acid and Phosphoric Acid—on schedule for Q4 FY26 commissioning.
- Ongoing fertiliser capacity expansion at Kakinada slated for Q4 FY27.
- New JV: Stuccoedge India Pvt Ltd to produce Phospho-Gypsum-based products.
- Water-soluble fertiliser plant initiated at Vizag.
Crop Protection Business
Quarterly Performance (Q3 FY26 vs Q3 FY25)
- Revenue: ₹785 crore (up from ₹631 crore)
- PBIT: ₹158 crore (up from ₹91 crore)
YTD Performance (9M FY26 vs 9M FY25)
- Revenue: ₹2,338 crore (up from ₹1,937 crore)
- PBIT: ₹431 crore (up from ₹264 crore)
Growth Drivers
- Expanded production of key technical molecules.
- Further capacity enhancements underway.
- Subsidiary NACL Industries Ltd raised ₹249 crore via Rights Issue.
Export Outlook and Market Competitiveness
Coromandel remains a key Indian exporter of phosphatic fertilisers and crop protection chemicals, with export destinations including Southeast Asia, Africa, and Latin America. Its robust supply chain and growing digital agriculture solutions (e.g., drone spraying initiatives) position it competitively against major domestic players like Chambal Fertilisers and Deepak Fertilisers, and global companies such as Nutrien and Yara International.
Company Background
Founded in 1961 and part of the Chennai-based Murugappa Group, Coromandel International is headquartered in Hyderabad, India. The company operates across:
- Fertilisers (NPK, DAP, water-soluble)
- Crop Protection Chemicals
- Bio-products
- Specialty Nutrients
- Agri-retail and advisory services
With more than 1,100 retail stores and an increasing focus on sustainable agriculture and precision farming, Coromandel is transitioning into a comprehensive agri-tech partner for Indian farmers.
