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Revenue
₹7,042 Cr
verified against source
Revenue YoY
49%
reported change
EBITDA
₹782 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Coromandel delivered a strong Q1 FY26 with consolidated revenue of ₹7,126 crore (+49% YoY) and EBITDA of ₹782 crore (+55% YoY), driven by early monsoon, robust fertilizer demand, and margin expansion in crop protection. The company achieved record NPK sales volume growth of 31% and market share improvement to 18%. Crop protection revenue surged 31% to ₹723 crore, with EBIT up 77%. Management guided for sustained EBITDA of ₹5,000 per tonne in manufacturing and expects DAP prices to soften post-Rabi. Key risks include volatility in sulphur/phosphoric acid prices and potential delays in NACL acquisition integration.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects normative EBITDA of ₹5,000 per metric ton to sustain during FY26, despite input cost volatility.
- The 7.5 lakh tonne granulation project is on track and expected to be commissioned in Q4 of FY27 (Jan-Mar 2027).
- The phosphoric acid and sulphuric acid backward integration project is 70% complete and likely to be commissioned in Q4 of current financial year.
- Company plans to double drone fleet and cover 5,00,000 acres of drone spraying in the current year.
Risks flagged
- Sulphur prices peaked at $300+ and have softened to $225, but further volatility could impact margins. Management noted marginal reduction in value addition due to higher sulphuric acid costs.
- China's DAP exports have dried up, tightening global supply. While management expects softening post-Rabi, any supply disruption could impact costs and availability.
- SEBI clearance for NACL open offer is pending; management declined to comment on profitability timeline, indicating uncertainty.
- Subsidy outstanding stood at ₹2,911 crore as of June 30, higher as a percentage of revenue (41% vs historical 35%), though management attributed it to seasonal channel inventory.
Key quotes
- Our normative EBITDA of metric ton of 5,000 will sustain during this year. That's our hope and we'll strive to do that.
- If appetite for DAP for the forthcoming Rabi seasons are met, DAP prices should soften from thereon.
- This year is going to be extremely good for crop protection. The momentum what we are seeing this year will continue in the years to come.
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