COROMANDEL / Q2-FY24 / 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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WatchQ2-FY24 · 2023-10-27Back to quarter ↗

Questions audited

Answered directly

75%

Numeric claims

Consistency

contradicted

Question ledger

What was answered, and how?

Noel Vaz · Union Asset Management

partial

Cost savings and payback period for sulfuric acid plant CapEx of INR 400 crore.

The purpose of setting up the sulfuric acid plant was mainly for securing our supplies... with the current prices that are prevailing, we think in about 2-3 years, we should get a payback on this project.

Noel Vaz · Union Asset Management

partial

Provisions for NBS subsidy changes in H2.

We will see that the subsidy realization in the second half is going to be lower because of the lower NBS rates. Having said that, we've also made some reasonable estimates and have factored it in our Q2 financials.

Tarang Agrawal · Old Bridge Asset Management

direct

Per ton margin outlook for H2 vs H1 and previous year.

with the current visibility that we have, I think it should be in the range of INR 5,000 per ton for the full year.

Tarang Agrawal · Old Bridge Asset Management

partial

Volume growth outlook for H2 and CapEx split for H1.

with the expectations of a near normal monsoon in the second half for the Rabi season, we expect that the consumption should go up. ... All of this put together should add up to say about INR 500 crores of CapEx during the year.

Prashant Biyani · Elara Securities

partial

Impact of NBS policy on Q3 profitability for backward integrated players.

For companies who are backward integrated, the impact could be much lower compared to companies who are buying and manufacturing. ... definitely there is going to be an impact on margin, no doubt at all.

Prashant Biyani · Elara Securities

direct

Backward integration percentages for phosphoric and sulfuric acid.

for phos acid, slightly above 50%, and sulfuric acid could be within 60% or so.

Akshat Mehta · Samiksha Capital

declined

Quantification of provision for subsidy rate change in Q2.

No, I wouldn't be in a position to quantify it now, but we have considered some impact on account of the NBS rate that has been announced.

Vishal Biraia · Bandhan AMC

direct

Nano DAP plant capacity and revenue potential.

The capacity that we are looking at is 1 crore bottles per year, which is 1 liter bottle. ... For these bottles, the MRP is about INR 600.

Vishal Biraia · Bandhan AMC

direct

Target operating margins for Nano DAP on steady state.

It should be in the range of 20-odd%.

Vishnu Kumar · Avendus Spark

direct

Will fertilizer EBITDA be positive in H2 if no price hikes occur?

Given the backward integration that we have, we expect the margins to be positive.

Ankur Periwal · Axis Capital

direct

Details on crop protection volume growth in domestic and export markets.

Our export growth has grown by 29%. We were successful in onboarding new customers. We got more than 20 new customers.

Ramesh Sankaranarayanan · Nirmal Bang Equities

direct

Volume growth in crop protection and timeline for INR 1,000 crore CapEx.

the export market had the maximum volume growth, close to about 30-odd%. ... it could take a period of about 24-36 months in all, for us to consume this entire capital.