(January 30, 2025) – Mumbai, India
Coromandel International Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company also declared an interim dividend of ₹6 per share (600%) for FY 2024-25, with a record date set for February 5, 2025.
Key Financial Highlights (Standalone & Consolidated)
| Particulars | Q3 FY25 | Q3 FY24 | YoY Growth |
|---|
| Revenue from Operations (Standalone) | ₹6,925.83 Cr | ₹5,450.33 Cr | 27.1% |
| Revenue from Operations (Consolidated) | ₹6,935.19 Cr | ₹5,464.15 Cr | 26.9% |
| Net Profit After Tax (Standalone) | ₹525.18 Cr | ₹242.51 Cr | 116.7% |
| Net Profit After Tax (Consolidated) | ₹507.91 Cr | ₹228.11 Cr | 122.6% |
| Earnings Per Share (EPS) - Standalone | ₹17.85 | ₹8.23 | 116.9% |
| Earnings Per Share (EPS) - Consolidated | ₹17.39 | ₹7.83 | 122.0% |
The company delivered strong revenue growth, driven by higher fertilizer sales and improved demand in the crop protection segment.
Segment-Wise Performance
1. Nutrient & Allied Business
- Revenue: ₹6,362.72 Cr in Q3 FY25 vs. ₹4,892.09 Cr in Q3 FY24 (+30.1% YoY).
- Segment Profit: ₹826.43 Cr vs. ₹257.34 Cr in Q3 FY24 (+221.2% YoY).
2. Crop Protection Business
- Revenue: ₹629.94 Cr vs. ₹612.19 Cr in Q3 FY24 (+2.9% YoY).
- Segment Profit: ₹91.21 Cr vs. ₹82.46 Cr in Q3 FY24 (+10.6% YoY).
Corporate Announcements
1. Interim Dividend
- The interim dividend of ₹6 per share (600%) will be paid on or after February 19, 2025, subject to regulatory provisions.
2. Expansion into the Netherlands
- Coromandel will establish a wholly owned subsidiary in the Netherlands with an investment of up to €100,000. The new entity aims to expand European market reach.
3. Corporate Guarantee for Baobab Mining & Chemicals (BMCC), Senegal
- Approved corporate guarantee of USD 11 million to support BMCC's working capital requirements.
4. Additional Stake Acquisition in BMCC
- Coromandel, through Coromandel Chemicals Limited (CCL), will increase its stake in BMCC to 53.82% for USD 3.84 million. This move will convert BMCC from an associate to a subsidiary.
Management Commentary
Sankarasubramanian S, Managing Director & CEO, stated:
"We delivered strong growth in Q3, driven by robust demand for fertilizers and sustained momentum in the crop protection segment. Our continued focus on operational efficiencies, supply chain management, and international expansion will support our long-term growth strategy."
Strategic Outlook
- Expansion in Europe through the Netherlands subsidiary.
- Strengthening mining and chemicals segment via BMCC acquisition.
- Continued investment in R&D and new product innovations.
With a strong financial performance, strategic global expansion, and a shareholder-friendly dividend policy, Coromandel International remains well-positioned for sustained growth.
Stock Performance & Market Reaction
The company’s positive earnings growth and dividend declaration are expected to bolster investor confidence. Market analysts anticipate strong future performance, given the positive agricultural demand outlook and global expansion initiatives.