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Coromandel Commences Trial Production at New Kakinada PA and SA Plants; Capacity up to 2,650 TPD
Coromandel International has successfully commenced trial production at its new Phosphoric Acid (PA) and Sulphuric Acid (SA) plants in Kakinada, Andhra Pradesh. The facilities have rated capacities of 650 TPD for PA and 2,000 TPD for SA, marking a significant step in backward integration. This project was completed within the guided timeline of Q4 FY 2025-26. The move transforms the Kakinada unit into a fully integrated facility, aimed at reducing import dependency and securing key raw materials for fertilizer production.
Key Highlights
Commenced trial production for Phosphoric Acid (650 TPD) and Sulphuric Acid (2,000 TPD) plants
Project commissioned on schedule within the Q4 FY 2025-26 timeline
Kakinada unit transformed into a fully integrated facility to enhance production efficiency
Strategic reduction in dependency on imported raw materials for fertilizer manufacturing
Operations to be progressively ramped up in a phased manner to reach rated capacities
💼 Action for Investors
Investors should view this as a positive development for long-term margin stability due to backward integration. Monitor the successful ramp-up to full capacity and its subsequent impact on reducing raw material costs in the coming fiscal year.
Coromandel Q3 FY26: Record Fertilizer Production & 74% EBIT Growth in Crop Protection
Coromandel International delivered a resilient Q3 FY26 performance despite industry-wide consumption dropping 7% due to unseasonal rains. The company achieved its highest-ever quarterly fertilizer production of 9.9 lakh tons (+18% YoY) and saw a significant 74% EBIT growth in its Crop Protection business with margins expanding to 20%. Management highlighted that backward integration projects at Kakinada are on track for commissioning this quarter, which is expected to mitigate the impact of rising raw material costs like Phosphoric Acid ($1,290/ton) and Sulphur ($550/ton).
Key Highlights
Achieved record quarterly fertilizer production of 9.9 lakh tons, an 18% increase over the previous year.
Crop Protection segment revenue grew 24% to INR 785 crores, with EBIT rising 74% to INR 158 crores.
Nano DAP sales grew 68% YTD to 4,000 KL, establishing the company as a market leader in the segment.
Retail business expanded with 84 new stores in Q3, bringing the total count to 1,113 stores with 20% YoY growth.
Backward integration projects for sulfuric and phosphoric acid at Kakinada to be commissioned in Q4 FY26.
💼 Action for Investors
Investors should monitor the commissioning of the Kakinada backward integration projects, as these will be critical for margin protection against volatile global raw material prices. The strong growth in high-margin Crop Protection and Nano segments provides a positive outlook for long-term profitability.
Coromandel Q3 FY26: Standalone PAT up 1% to ₹530 Cr, Declares ₹9 Interim Dividend
Coromandel International reported a resilient Q3 FY26 with standalone total income rising 21% YoY to ₹8,537 crore, though standalone PAT grew marginally by 1% to ₹530 crore. The company faced headwinds from high raw material costs and rupee depreciation, yet achieved record NPK production of 1.0 million tons. The Board declared an interim dividend of ₹9 per share (900% of face value). The Crop Protection segment showed strong growth with PBIT rising significantly to ₹158 crore from ₹91 crore in the previous year.
Key Highlights
Standalone Total Income grew 21% YoY to ₹8,537 crore, while YTD standalone PAT rose 19% to ₹1,854 crore.
Declared an interim dividend of ₹9 per equity share on a face value of ₹1.
Achieved record quarterly production of 1.0 million tons of NPKs and 10% volume growth in phosphatic fertilisers.
Crop Protection segment PBIT surged 73.6% YoY to ₹158 crore driven by demand in export and domestic markets.
Backward integration projects for Sulphuric and Phosphoric acid are on track for commissioning in Q4 FY26.
💼 Action for Investors
Investors should monitor the upcoming commissioning of backward integration projects in Q4 FY26, which is expected to improve margins. The stock remains a strong long-term play in the agri-solutions space given its market leadership and consistent dividend payouts.
Coromandel Declares ₹9 Interim Dividend; Q3 Revenue Rises 26.6% to ₹8,779 Cr
Coromandel International reported a 26.6% YoY increase in consolidated revenue to ₹8,779.45 crore for Q3 FY26, supported by its Nutrient business and the integration of NACL Industries. The Board declared an interim dividend of ₹9 per share (900% on face value), with the record date set for February 4, 2026. Net profit attributable to owners remained relatively flat at ₹505.88 crore compared to ₹511.77 crore in the same quarter last year. The Crop Protection segment witnessed significant growth, with revenue reaching ₹1,098.27 crore.
Key Highlights
Declared interim dividend of ₹9 per share (900%) with record date of Feb 4, 2026.
Consolidated revenue grew 26.6% YoY to ₹8,779.45 crore in Q3 FY26.
Crop Protection segment revenue jumped to ₹1,098.27 crore from ₹635.65 crore YoY.
Consolidated Net Profit for owners stood at ₹505.88 crore vs ₹511.77 crore YoY.
Integration of NACL Industries (53.08% stake) significantly boosted top-line performance.
💼 Action for Investors
Investors should ensure they hold shares by the February 4 record date to qualify for the ₹9 dividend. The strong revenue growth and expansion in Crop Protection suggest a positive long-term outlook despite flat quarterly profits.
Coromandel Q3 Revenue Rises 26% to ₹8,779 Cr; ₹9 Interim Dividend Declared
Coromandel International reported a robust 26.6% YoY growth in consolidated revenue to ₹8,779.45 crore for Q3 FY26, driven by strong performance in its nutrient and crop protection segments. However, consolidated net profit saw a marginal decline of 3.8% YoY to ₹488.47 crore, likely due to higher raw material costs and the integration of NACL Industries. The board has declared an interim dividend of ₹9 per share (900% on face value), with a record date of February 4, 2026. The crop protection segment showed significant expansion, nearly doubling its revenue contribution following the NACL acquisition.
Key Highlights
Consolidated Revenue from operations grew 26.6% YoY to ₹8,779.45 crore in Q3 FY26.
Consolidated Net Profit stood at ₹488.47 crore, a slight decrease from ₹507.91 crore in the previous year's quarter.
Declared an interim dividend of ₹9 per equity share (900%) with the record date fixed as February 4, 2026.
Crop protection segment revenue jumped to ₹1,098.27 crore from ₹635.65 crore YoY, aided by the NACL acquisition.
Nutrient and other allied business revenue increased to ₹7,761.77 crore compared to ₹6,367.38 crore in Q3 FY25.
💼 Action for Investors
Investors should monitor the company's margin recovery as it integrates the NACL acquisition and navigates raw material price volatility. The strong top-line growth and consistent dividend payout make it a solid hold for long-term investors focused on the agricultural sector.
Coromandel Declares ₹9 Interim Dividend; Q3 Revenue Jumps 26% to ₹8,779 Cr
Coromandel International has declared an interim dividend of ₹9 per share (900% of face value) for FY 2025-26, with a record date of February 4, 2026. The company reported a strong 26.6% YoY growth in consolidated revenue to ₹8,779.45 crore for the quarter ended December 31, 2025. While revenue grew significantly, consolidated net profit attributable to owners saw a marginal decline to ₹505.88 crore from ₹511.77 crore in the same period last year. The results reflect the first full quarter impact of the NACL Industries acquisition, which significantly bolstered the crop protection segment.
Key Highlights
Interim dividend of ₹9 per equity share declared with a record date of February 4, 2026.
Consolidated revenue from operations increased by 26.6% YoY to ₹8,779.45 crore in Q3 FY26.
Crop protection segment revenue surged to ₹1,098.27 crore, up from ₹635.65 crore YoY, aided by the NACL acquisition.
Consolidated net profit for the quarter stood at ₹488.47 crore, with ₹505.88 crore attributable to the owners.
Nutrient and other allied business revenue grew to ₹7,761.77 crore compared to ₹6,367.38 crore in the previous year's quarter.
💼 Action for Investors
Investors should view the healthy dividend payout and robust revenue growth as positive indicators of market share expansion. The integration of NACL Industries is clearly driving the crop protection business, though margins should be monitored in upcoming quarters.
Coromandel International Acquires 60% Stake in JV Stuccoedge India for Gypsum Products
Coromandel International, through its subsidiary Coromandel Chemicals, has finalized the share issuance for its joint venture with Sakarni Plaster. The new entity, Stuccoedge India Private Limited, will focus on manufacturing and marketing phospho-gypsum based building materials like wall putty and boards. Coromandel holds a 60% controlling stake in the venture with an initial investment of Rs. 6 lakhs. This strategic move enables the company to diversify its product portfolio and utilize industrial by-products effectively.
Key Highlights
Acquired a 60% controlling stake in the joint venture entity Stuccoedge India Private Limited.
Initial capital contribution of Rs. 6 lakhs for 60,000 equity shares at Rs. 10 each.
Partnered with Sakarni Plaster (India) Private Limited, which holds the remaining 40% stake.
The JV will manufacture and trade gypsum-based products including plaster, boards, and ceiling systems.
The entity was incorporated in November 2025 and is yet to commence commercial operations.
💼 Action for Investors
Investors should view this as a positive long-term strategic move to diversify into building materials. Monitor the JV's operational commencement and its future contribution to the company's non-fertilizer revenue stream.
Coromandel International Increases Stake in NACL Industries to 53.73% via Rights Issue
Coromandel International (CIL) has increased its equity stake in its listed subsidiary, NACL Industries Limited, from 53.06% to 53.73%. The company was allotted 1,88,24,301 shares at a price of Rs. 76.70 per share, representing a total investment of approximately Rs. 144.38 crores. This allotment includes CIL's full rights entitlement plus additional shares applied for in the unsubscribed portion. While the move consolidates CIL's position in the agrochemical space, investors should note that NACL's turnover has seen a significant downward trend over the last three fiscal years.
Key Highlights
Allotment of 1,88,24,301 equity shares in NACL Industries at an issue price of Rs. 76.70 per share
Equity stake in NACL Industries increased from 53.06% to 53.73%
Total cash consideration for the additional stake is approximately Rs. 144.38 crores
NACL Industries reported a declining consolidated turnover from Rs. 2,115.51 Cr in FY23 to Rs. 1,234.52 Cr in FY25
💼 Action for Investors
Investors should monitor the performance of NACL Industries, as its declining revenue trajectory may weigh on Coromandel's consolidated performance despite the increased ownership.
Coromandel International Executive Vice Chairman Natarajan Srinivasan Steps Down
Coromandel International Limited has announced the cessation of Mr. Natarajan Srinivasan from his position as Whole-time Director and Executive Vice Chairman. The departure is effective immediately from December 20, 2025, following the mutual discontinuation of his employment contract. As a key member of the executive leadership, his exit marks a significant change in the company's top management structure. The Board has formally approved the transition, and the company has complied with all regulatory disclosure requirements.
Key Highlights
Mr. Natarajan Srinivasan (DIN: 00123338) ceases to be Whole-time Director and Executive Vice Chairman.
The cessation is effective from December 20, 2025, following a mutual agreement.
The Board of Directors has officially considered and approved the discontinuation of the employment contract.
The change was communicated via a formal letter dated December 20, 2025, and filed under Regulation 30.
💼 Action for Investors
Investors should monitor the company's next steps regarding the appointment of a successor to the Executive Vice Chairman role to ensure leadership continuity. While the exit is mutual, any shift in top-tier management warrants a watch on strategic execution.
Coromandel Shareholders Approve Re-appointment of Executive Chairman and Section 185 Loan Facility
Coromandel International Limited has announced the successful passage of two key resolutions via postal ballot with significant shareholder backing. Mr. Arun Alagappan has been re-appointed as Whole-time Director and Executive Chairman with 97.61% of votes in favor. Additionally, shareholders overwhelmingly approved a resolution for providing loans under Section 185 of the Companies Act, 2013, with 99.98% support. The total voter turnout was robust, representing 81.24% of the company's total outstanding shares.
Key Highlights
Re-appointment of Mr. Arun Alagappan as Executive Chairman approved with 97.61% majority votes.
Resolution for providing loans under Section 185 passed with near-unanimous 99.98% approval.
Total voter turnout recorded at 81.24% of the 29.49 crore total shares.
Institutional support for the loan resolution was exceptionally high at 99.96% in favor.
Public non-institutional shareholders also showed strong support with over 99.5% favorability on both items.
💼 Action for Investors
The re-appointment of the Executive Chairman ensures leadership continuity, which is a positive signal for long-term strategy. Investors should view the high approval for Section 185 loans as a sign of trust in the company's internal capital allocation and treasury management.
Coromandel Faces ₹5.96 Crore Tax Demand Order
Coromandel International has received a demand order from the Assistant Commissioner (ST)(FAC), Chennai, for a total of ₹5,96,36,088. This includes a tax amount of ₹3,40,20,775, an interest amount of ₹2,22,13,236, and a penalty of ₹34,02,077. The demand arises from alleged excess availment of Input Tax Credit (ITC). The company believes it has a strong case and will appeal the order. Coromandel does not anticipate a material impact on its financials or operations.
Key Highlights
Tax demand of ₹3,40,20,775
Interest amount of ₹2,22,13,236
Penalty amount of ₹34,02,077
Total demand order of ₹5,96,36,088
₹3.2 crores GST Input Tax Credit related to import data issues
💼 Action for Investors
Investors should monitor the progress of Coromandel's appeal against the demand order. While the company anticipates no material impact, a negative outcome could affect future earnings.
Coromandel to invest up to ₹250 Cr in NACL rights issue, sets up Philippines subsidiary
Coromandel International's board approved an investment of up to ₹250 Crores in the rights issue of its subsidiary, NACL Industries. This includes subscribing to the full extent of Coromandel's rights entitlement and potentially additional unsubscribed shares. Additionally, the board approved the establishment of a wholly-owned subsidiary in the Philippines with an investment value of up to USD 200,000. There was also a note of change in Senior Management personnel of the Company.
Key Highlights
Approved investment up to ₹250 Crores in NACL Industries rights issue.
To establish a wholly owned subsidiary in Philippines with investment up to USD 200,000.
NACL Industries plans to raise up to ₹250 Crores through a rights issue.
Mr. Anish Mathew, CFO of NACL Industries, resigned effective December 01, 2025.
Mr. N. Shankar appointed as the Chief Financial Officer of NACL Industries effective December 01, 2025.
💼 Action for Investors
Investors should monitor the terms of the NACL Industries rights issue and the progress of the Philippines subsidiary establishment. Keep an eye on the performance of the new senior management personnel.