COROMANDEL · Chemicals
Coromandel International Ltd. reported revenue of ₹8,165 cr for April to June 2026, +15.9% on the year and +36.0% on the quarter. That is in line with how this quarter has grown in recent years (+16.0% on average). Over the last four quarters revenue comes to ₹32,602 cr, +23.5% on the four before.
Operating profit (EBITDA) was ₹767 cr, a margin of 9.4%, −172 bps on the year and +126 bps on the quarter. Over the last 8 quarters the margin has ranged from 8.1% to 12.9%, averaging 10.1%. Operating costs grew +18.2%, faster than revenue at +15.9%, so operating profit grew less than sales.
Net profit was ₹382 cr, −24.0% on the year and +231.8% on the quarter, with earnings per share of ₹12.98. Profit before other income, one-offs and tax fell 21.8%, so the profit growth came from the business itself. The tax rate of 26% is in line with its recent average. Profit over the last four quarters totals ₹1,778 cr, −20.9% on the four before.
Agri inputs are seasonal and move with the monsoon and with subsidy payments, so quarters are best compared with the same quarter a year earlier. The quarterly statements do not carry volumes, the monsoon and subsidy receivables; those come with the filing read.
On earnings per share of ₹62.18 over the last four quarters, the stock at ₹1,756.90 trades at 28.3 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Operating margin slipped on the year.
EBITDA margin 9.4%, −172 bps on the year (+126 bps on the quarter).
Source: Results filing
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Metric | Q1 FY27 | Q2 FY26 |
|---|---|---|
| Subsidy receivable (₹ cr) | — | 2,168 |
| Nutrient and Other Allied Business Segment Revenue (₹ crore) | 6,951 | 8,661 |
| Crop Protection Segment Revenue (₹ crore) | 1,251 | 1,069 |
Read using the Agriculture, fertilisers and agrochemicals framework (named in the filing read). Primary valuation lens: P/E through the season.
Read more closely in this sector: Age of subsidy receivables · Channel inventory build.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹5,464 cr | ₹3,913 cr | ₹4,729 cr | ₹7,433 cr | ₹6,935 cr | ₹4,988 cr | ₹7,042 cr | ₹9,654 cr | ₹8,779 cr | ₹6,004 cr | ₹8,165 cr | ₹10,294 cr |
| YoY | — | — | −17% | +6% | +27% | +27% | +49% | +30% | +27% | +20% | +16% | +7% |
| EBITDA margin | 6.4% | 6.7% | 10.4% | 12.9% | 10.3% | 8.2% | 11.1% | 12.0% | 9.1% | 8.1% | 9.4% | 9.0% |
| Other income, % of PBT | 19% | 38% | 13% | 7% | 17% | 65% | 12% | 11% | 13% | −3% | 10% | 8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 26% | 27% | 26% | 26% | 21% | 26% | 25% | 25% | 50% | 26% | 26% |
| Net profit | ₹228 cr | ₹164 cr | ₹309 cr | ₹659 cr | ₹508 cr | ₹578 cr | ₹502 cr | ₹793 cr | ₹488 cr | ₹115 cr | ₹382 cr | ₹523 cr |
| YoY | — | — | −37% | −13% | +123% | +252% | +62% | +20% | −4% | −80% | −24% | −34% |
| Core profit YoY | — | — | −40% | −13% | +130% | +87% | +61% | +14% | +0% | −9% | −22% | −31% |
| EPS | ₹7.85 | ₹5.45 | ₹10.56 | ₹22.55 | ₹17.37 | ₹19.67 | ₹17.13 | ₹27.31 | ₹17.15 | ₹4.74 | ₹12.98 | ₹18.11 |
| Flags | · | 1 | ✓ | ✓ | ✓ | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Coromandel International Ltd. reported revenue of ₹8,165 cr (+15.9% on the year) and net profit of ₹382 cr (−24.0% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved −21.8% on the year, against −24.0% for reported profit.
None of the 7 checks that could run raised a question.
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