Coromandel International Limited, a prominent player in India’s agri-solutions sector, announced its financial results for the second quarter and half-year ending 30th September 2026. The company reported a 6% increase in total income for the quarter on a consolidated basis, rising from ₹9,771 crore in Q2 FY26 to ₹10,348 crore in Q2 FY27. However, the company faced significant challenges in profitability, with EBITDA declining by 18% to ₹944 crore and profit after tax (PAT) dropping by 34% to ₹523 crore.
The decline in profitability was attributed to margin pressures in the fertiliser segment, largely due to increased raw material costs driven by the ongoing Middle East crisis. These costs were not sufficiently offset by government subsidies, impacting the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) and PAT.
Despite these challenges, Coromandel continued to advance its strategic initiatives, including the expansion of its NPK fertiliser capacity and the development of new products in the crop protection segment. The company launched ten new products in the Nutrients and Crop Protection businesses during the quarter, reflecting its focus on differentiated offerings. Additionally, the retail business expanded its footprint by opening nearly 100 new stores, bringing its total network to over 1,300 outlets.
In the first half of the fiscal year, Coromandel reported a 10% increase in total income to ₹18,563 crore on a consolidated basis. However, EBITDA and PAT saw declines of 12% and 30%, respectively. The company’s crop protection business recorded a robust 22% revenue growth during the quarter, driven by strong performance in export markets, while domestic conditions remained challenging.
Market analysts note that Coromandel’s performance reflects the broader challenges faced by the fertiliser industry, with raw material cost volatility and subsidy adjustments impacting margins. The company’s strategic focus on expanding its product portfolio and enhancing its retail presence is seen as a positive step towards mitigating these challenges and supporting long-term growth. As the company anticipates adjustments in subsidy rates for the Rabi season, the market will be closely watching how these changes affect Coromandel’s financial performance in the coming quarters.
