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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹6,935 Cr
verified against source
Revenue YoY
28%
reported change
EBITDA
₹722 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Coromandel reported a stellar Q3 FY25 with consolidated revenue of INR 7,049 crore (+28% YoY) and EBITDA of INR 722 crore (+102% YoY), driven by record NPK volumes (11.4 lakh tons primary sales, +21% YoY) and strong operating leverage. The company benefited from favorable monsoon, robust Rabi sowing, and a strategic shift from DAP to NPK, with its market share rising to 17% (vs 13% last year). Management guided for continued volume growth via debottlenecking and new capacity (7.5 lakh ton NPK plant by Q4 FY27), while backward integration (sulfuric acid savings of ~INR 180 crore in 9M) and value-added SSP products are expected to structurally improve margins. Key risks include potential subsidy under-recovery in Q4 and volatility in raw material prices (sulfur/sulfuric acid).
Colored figures show movement against the previous available record.
Guidance to track
- New granulation plant to be commissioned in 24 months, targeting commercial production from Q4 FY27.
- Ongoing project expected to be commissioned by Q4 of next fiscal year (FY26).
- Aiming to reach 800,000 tons next year and 1 million tons thereafter, with 60% from value-added products.
- Currently at 810 stores; plan to add significantly in Q4 and next year to reach 1,500+ by FY27.
Risks flagged
- Management noted that DAP margins are not adequate due to raw material cost increases; representation to government ongoing, but correction may not happen before April.
- Sudden spike in sulfur and sulfuric acid prices due to demand from China and Indonesia could impact input costs.
- Export volumes in bioproducts were impacted due to delays in order finalization, though expected to recover in Q4.
- Analyst raised concern about pricing-led competition in export markets; management acknowledged but highlighted diversification and formulation foray as mitigants.
Key quotes
- Our aim would be to scale up the volume in the coming years, and we are a pan-India player for the entire nutrition segment, ranging from SSP to specialty fertilizers.
- I strongly believe water-soluble fertilizers, high-end specialties, organic and bio will be the next phase of growth, and we are currently positioning ourselves for that.
- So when there is so much of competition on generic actives, the only way to make money would be to enhance our presence in the formulations market, both in India and abroad.
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