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Revenue
₹4,988 Cr
verified against source
Revenue YoY
28%
reported change
EBITDA
Pending
latest reported figure
Source
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record provenance
Actual signal trajectory
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Quarter read
What the record says.
Coromandel reported a strong Q4 FY25 with consolidated revenue of INR 5,114 crore, up 28% YoY, driven by record phosphatic fertilizer volumes and a 13% volume growth. The crop protection business grew 7% to INR 2,637 crore, with EBIT up 25% to INR 363 crore, aided by new product launches and export demand. Management guided for high double-digit revenue growth in crop protection and sustained fertilizer EBITDA per ton of INR 5,000. Key growth drivers include backward integration projects (PA/SA plants on track for Q4 FY26 commissioning), the NACL acquisition (expected to close by Q2 FY26), and Nano DAP scaling (2.6 million bottles sold). Risks include volatile raw material prices (sulfur up $120/ton) and execution challenges in integrating NACL.
Colored figures show movement against the previous available record.
Guidance to track
- Management confirmed the target of INR 5,000 per ton EBITDA for the fertilizer business remains intact for FY26.
- The phosphoric acid and sulfuric acid plants at Kakinada are 45% complete and on track for commissioning in the last quarter of FY26.
- Management expects high double-digit revenue growth in crop protection for FY26, supported by new products and export demand.
- Regulatory approvals for the NACL acquisition are expected by Q2 of the current financial year.
Risks flagged
- Sulfur prices surged by $120/ton and phosphoric acid by $98/ton in Q4, which could compress margins if not passed through.
- NACL carries high debt and interest costs; management was vague on timeline for debt reduction, raising execution risk.
- Until the Kakinada granulation plant comes online in FY27, volume growth may be limited by existing capacity, increasing reliance on trading.
Key quotes
- Our aim would be to continue what they've been doing well and try and see how do we restore the margins what they've been making two years before.
- Nano DAP is going to be a game changer for the industry as a whole. If everything happens in the way we expect, we do expect replacement of 2 million tons of DAP in another two to three years' time.
- We should be able to sustain that margin.
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