Fertilizer sales volume
4.3M tons
+7% YoY
Record sales of DAP and NPK; market share in phosphatic sector reached 17.5%.
COROMANDELINTERNATIONAL
Other
15 May 2026
Coromandel International Limited — Q4 FY26
Coromandel International reported Q4 FY26 consolidated revenue of ₹6,680 crore (+19% YoY) and EBITDA of ₹494 crore (+16% YoY), driven by record fertilizer sales of 4.3 million tons (+7% YoY) and strong crop protection growth.
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2-Min Summary
✦ AI-Generated from Full Transcript
Coromandel International reported Q4 FY26 consolidated revenue of ₹6,680 crore (+19% YoY) and EBITDA of ₹494 crore (+16% YoY), driven by record fertilizer sales of 4.3 million tons (+7% YoY) and strong crop protection growth. PAT fell to ₹115 crore (vs ₹578 crore) due to exceptional items: prior-year land sale gain of ₹347 crore and current-year impairment of ₹71 crore in the drone business. Full-year revenue hit a record ₹31,827 crore (+30% YoY) with EBITDA of ₹3,232 crore (+23% YoY). The fertilizer segment faced margin compression from surging raw material costs (ammonia ~$840/ton, sulfur ~$800/ton) not fully covered by subsidy. Management expects government relief but declined margin guidance. Crop protection standalone EBITDA margin improved to ~19%. Key risk: delayed subsidy pass-through could pressure H1 FY27 margins.
Key Numbers
Nano DAP volume
42 lakh bottles
+60% YoY
Market leader in nano DAP with ~50% share; strong adoption amid rising conventional fertilizer prices.
Crop protection standalone revenue
₹3,540 crore
+16% YoY
Record revenue driven by export volume growth and new product introductions (10 new products, 21% of revenue).
Retail business growth
30%+
+30% YoY
Added 300+ new stores; expanded into Maharashtra and Tamil Nadu.
Management Guidance
Crop protection revenue growth 20-25% in FY27
Driven by new product launches (6 new products), capacity expansion for key molecule, and aggressive domestic formulation growth.
Management guidance growthCrop protection consolidated EBITDA margin to stabilize at 9-10%
NACL integration and product portfolio changes expected to improve margins from current 6-7%.
Management guidance marginsGranulation capacity expansion commissioning by December 2026
Project to expand granulation capacity is on track for commissioning by December of this financial year.
Management guidance expansionSenegal mine output to increase 30-40% in FY27
Planned volume increase from 3.5 lakh tons to support backward integration.
Management guidance growthKey Risks
Raw material price spike and subsidy gap
Ammonia and sulfur prices surged ~$840/ton and ~$800/ton respectively, while NBS rates increased only 10%. Government may not provide timely additional subsidy, compressing H1 margins.
high · management_commentaryMiddle East supply disruption
80%+ of ammonia and sulfur imports transit via the Strait of Hormuz; ongoing crisis threatens Q2 availability and keeps prices elevated.
high · analyst_questionDrone business impairment and execution risk
₹71 crore impairment taken on Daksha investment due to order execution delays; management is personally driving recovery but no near-term revenue visibility.
medium · data_observationNano DAP adoption slower than expected
Despite 60% volume growth, adoption remains slow without policy intervention; farmers continue to prefer subsidized urea and DAP.
low · management_commentaryNotable Quotes
These are all very extraordinary times very difficult to look at margins at this point of time. It doesn't make sense even to look at either product margin or foss value gap.
We are not able to predict anything this time is little uncomfortable for us to put any number on the table let's wait for things to play out before we can completely fair understand it's bit challenging.
Our consumption has reached the peak of 4.1 million tons making us the largest player, the highest market share of 17.5% in the phosphotic sector in the country.
Frequently Asked Questions
What was Coromandel International's revenue in Q4 FY26?
Coromandel International reported revenue of ₹6,004 Cr in Q4 FY26, representing a +19% change compared to the same quarter last year.
What guidance did Coromandel International management give for FY27?
Crop protection revenue growth 20-25% in FY27: Driven by new product launches (6 new products), capacity expansion for key molecule, and aggressive domestic formulation growth. Crop protection consolidated EBITDA margin to stabilize at 9-10%: NACL integration and product portfolio changes expected to improve margins from current 6-7%. Granulation capacity expansion commissioning by December 2026: Project to expand granulation capacity is on track for commissioning by December of this financial year. Senegal mine output to increase 30-40% in FY27: Planned volume increase from 3.5 lakh tons to support backward integration.
What are the key risks for Coromandel International in FY27?
Key risks include Raw material price spike and subsidy gap — Ammonia and sulfur prices surged ~$840/ton and ~$800/ton respectively, while NBS rates increased only 10%. Government may not provide timely additional subsidy, compressing H1 margins.; Middle East supply disruption — 80%+ of ammonia and sulfur imports transit via the Strait of Hormuz; ongoing crisis threatens Q2 availability and keeps prices elevated.; Drone business impairment and execution risk — ₹71 crore impairment taken on Daksha investment due to order execution delays; management is personally driving recovery but no near-term revenue visibility.; Nano DAP adoption slower than expected — Despite 60% volume growth, adoption remains slow without policy intervention; farmers continue to prefer subsidized urea and DAP..
Did Coromandel International meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Coromandel International Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.