Rock phosphate prices may compress margins
While sulphuric acid prices have fallen, rock phosphate prices remain elevated, potentially compressing spreads for manufactured DAP and NPK if the lag in correction persists.
COROMANDEL / Q1-FY24 / risks
Keep the risk register visible.
Coromandel International · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
medium
Delayed monsoon impact on Kharif consumption
The delayed onset of monsoons led to high channel inventory buildup, and uneven rainfall in some regions could affect fertilizer offtake in Q2.
Subsidy rate changes could affect profitability
The government's NBS rates for H1 were set lower in line with raw material moderation; any further reduction or delay in subsidy payments could impact cash flows and margins.
Crop protection segment headwinds persist
High channel inventories and pricing pressure in the domestic crop protection market affected Q1 performance, and recovery depends on monsoon progression and demand pickup.