COROMANDEL / Q1-FY25 / claim-ledger

Audit the questions that mattered.

Coromandel International · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ1-FY25 · 2024-08-05Back to quarter ↗

Questions audited

Answered directly

63%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Nirav Jimudia · Anvil Research

evasive

Cost savings from DMP to DMPAT transition and War on Waste initiatives.

So in the DM side, very recently we got the business case approved, and it's a smaller capacity plant which will come up in the next 6-8 months time. This will help us to be little more competitive in the agrochemical space.

Nirav Jimudia · Anvil Research

direct

How much of DM requirement will be in-house after new plant?

So for DM side, we are expecting about between 25% of our requirements to be in-house, and depending on how this goes, at a later point, we can look at additional capacities.

Nirav Jimudia · Anvil Research

partial

Market size of new products, export opportunities, technical vs formulation mix, backward integration.

When we look into the entire product range... the team had identified all the gaps... 22% of the sales in the domestic formulation today is coming from new products... share of formulation in the overall business, which is around 30%.

S. Ramesh · Nirmal Bang Institutional Equities

evasive

Potential increase in NBS rates or retail prices for fertilizers.

Currently, the current subsidy which has been announced for Kharif, late after September. To note, there has been a compression in margin in the Kharif... So we need to wait and watch... there is a possibility that, you know, the subsidy will factor in the increase in input cost.

S. Ramesh · Nirmal Bang Institutional Equities

declined

Quantify reduction in realization in export market.

I can come back to you, Ramesh.

S. Ramesh · Nirmal Bang Institutional Equities

partial

Timeline for BMCC JV to become EBITDA and cash positive.

Hopefully, we should be able to complete the trial run by end of September... second half, we should be able to stabilize the production... overall for the year, we should be able to reach what we.

Vipul Shah · Sumangal Investment

direct

Annual phosphoric acid requirement and import reduction after new capacity.

It can be anywhere in the range of 5.5-6 lakh tons... net phosphoric acid requirement will be in the range of 4-4.5 lakh tons... once this new capacity... it will be in the range of 200,000-300,000 tons.

Prashant Biyani · Elara Securities

partial

Efforts to reduce profitability pressure in Q2 given lower subsidy.

We hope to see improvement in margin coupled with our efficiency improvement, blending of our own rock, which is coming from Senegal... definitely it should be much better than what we witnessed in Q1.

Prashant Biyani · Elara Securities

direct

Revenue from Dhaksha in Q1 and updates on new products.

The turnover for the quarter was INR 17 crore.

Speaker 12 · Antique Stock Broking

direct

Price hikes for NPK products after DAP subsidy announcement.

We are not going for an MRP increase as such, but we may look at moderating the trade discount which was offered during the off season period.

Speaker 13 · IIFL Securities

direct

Confirmation of fertilizer segment EBITDA guidance.

That is intact. We spoke about INR 4,500-INR 5,000 to manufacture the product. I think that's pretty much intact.

Falguni Dutta · Mansarovar Financials

direct

Percentage of domestic demand that nano fertilizers can substitute in 2 years.

Over the next 3-5 years, the expectation is about 20%-25% to be a substitution of.