News ArticleCoromandel International Reports 6% Revenue Growth but Significant Earnings Pressure in Q2 FY27
Q2 FY27 consolidated revenue rises to Rs 10,348 crore while EBITDA falls 18%, new fertilizer and crop protection capacities underway
Coromandel International Limited posted a 6% revenue increase to Rs 10,348 crore in Q2 FY27 on a consolidated basis, while EBITDA dropped 18% due to margin pressure from rising raw material costs amid geopolitical challenges. The company plans to complete new NPK fertilizer capacity by Q4 FY27 and expand crop protection production in Q3 FY27.
Coromandel International Limited
General / Other
Coromandel International Limited announced a 6% increase in consolidated revenue to Rs 10,348 crore for Q2 FY27, while EBITDA declined by 18% to Rs 944 crore, mainly due to margin pressures from rising raw material costs not fully offset by subsidies amid ongoing geopolitical tensions.
The company's consolidated profit after tax (PAT) for Q2 FY27 was Rs 523 crore, a 34% decrease compared to the same period last year. For the half-year ended September 30, 2026, consolidated revenue grew 10% to Rs 18,563 crore, with EBITDA down 12% to Rs 1,705 crore and PAT falling 30% to Rs 905 crore.
Coromandel attributed the EBITDA decline primarily to margin pressures in its fertilizer segment caused by a raw material cost surge triggered by the Middle East crisis, which was not fully covered by nutrient-based subsidies. Despite challenges including deficit rainfall and lower subsidies, the company supplied around 3.3 million tons of fertilizers in H1 FY27 and increased its market share in the phosphatic segment to 19%.
Strategic expansions are ongoing with a new NPK fertilizer capacity expected by Q4 FY27 and additional crop protection molecule capacity planned for Q3 FY27. The company is also setting up a fluoro intermediates plant to support R&D and specialty chemistry advances. The retail business continues to expand, adding nearly 100 stores in Q2, surpassing 1300 outlets overall.
Coromandel’s crop protection segment reported 22% revenue growth in Q2 FY27, boosted by strong export performance. The retail business showed solid results in specialty nutrients, organic, and biological products, reflecting growing farmer adoption of sustainable crop solutions.
Highlights
- Consolidated Q2 FY27 revenue at Rs 10,348 crore, a 6% increase year-on-year
- Consolidated Q2 FY27 EBITDA declined 18% to Rs 944 crore due to margin pressures
- Consolidated Q2 FY27 PAT fell 34% to Rs 523 crore
- Half-year consolidated revenue rose 10% to Rs 18,563 crore; EBITDA down 12%, PAT down 30%
- New NPK fertilizer capacity to be operational by Q4 FY27
- Additional crop protection capacity expected to come on stream in Q3 FY27 for a key molecule segment
Key Data Snapshot
What happened
- Coromandel International posted 6% consolidated revenue growth in Q2 FY27 to Rs 10,348 crore and 10% growth in H1 FY27 to Rs 18,563 crore.
- EBITDA declined 18% in Q2 FY27 to Rs 944 crore and 12% in H1 FY27 to Rs 1,705 crore, impacted by rising raw material costs in the fertiliser business linked to the Middle East crisis.
- PAT for Q2 FY27 was Rs 523 crore, down 34% year-on-year, with H1 FY27 PAT falling 30% to Rs 905 crore.
- The company advanced its strategic initiatives, including new NPK fertiliser capacity expected by Q4 FY27 and crop protection molecule capacity planned for Q3 FY27.
- Retail business added approximately 100 new stores in Q2 FY27, bringing the network to over 1300 outlets.
Key details
- Margin pressure in the fertiliser segment resulted from a spurt in raw material costs that was not fully offset by subsidies.
- Phosphatic fertiliser market share improved to 19% in H1 FY27 from 17% in H1 FY26.
- Phosphoric acid and sulphuric acid plants at Kakinada helped mitigate supply disruptions.
- Crop Protection business grew revenue by 22% in Q2, helped by export markets.
- Retail business showed strong performance in specialty nutrients, organic, and biological products.
Strategic context
- The new NPK fertiliser capacity will support product supply from Q4 FY27.
- Additional capacity for a key crop protection molecule is expected to come on stream in Q3 FY27.
- A new plant for fluoro intermediates is being set up to aid R&D scale-up and speciality chemistry capabilities.
- The company focuses on expanding differentiated and sustainable crop solutions across products and services.
Background and context
- Coromandel International is a leading Indian agri-solutions provider operating in fertilisers, crop protection, bio-products, specialty nutrients, and retail.
- It operates over 1300 retail stores serving around 3 million farmers across southern Indian states and Maharashtra.
- The Company is the second largest manufacturer and marketer of phosphatic fertilisers in India.
- It is part of the Murugappa Group, which reported a turnover of Rs 105,582 crore in FY 25-26.
Highlights
- Consolidated Q2 FY27 revenue at Rs 10,348 crore, a 6% increase year-on-year
- Consolidated Q2 FY27 EBITDA declined 18% to Rs 944 crore due to margin pressures
- Consolidated Q2 FY27 PAT fell 34% to Rs 523 crore
- Half-year consolidated revenue rose 10% to Rs 18,563 crore; EBITDA down 12%, PAT down 30%
- New NPK fertilizer capacity to be operational by Q4 FY27
- Additional crop protection capacity expected to come on stream in Q3 FY27 for a key molecule segment
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
More News on General / Other
View allLatest corporate announcements and market updates in General / Other.
Manali Petrochemicals Posts Rs. 414.37 Crore Consolidated Income for Q2 Ending September 2026 with Stable Profits
Manali Petrochemicals Limited announced its unaudited consolidated financial results for the quarter ended 30th September 2026, reporting a total income of Rs. 414.37 crore and profit before tax of Rs. 85.30 crore, with steady standalone financial performance and increased business activity.
Read Full Story
Gala Precision Engineering Limited Confirms Proper Utilization of Rs 1,353.40 Million IPO Proceeds in Q2 2026
Gala Precision Engineering Limited's Monitoring Agency report for the quarter ended September 30, 2026, states full compliance in the utilization of Rs 1,353.40 million raised through its Initial Public Offer. The funds have been deployed as disclosed in the offer document, covering a new manufacturing facility in Tamil Nadu, capital expenditure in Maharashtra, repayment of borrowings, and general corporate purposes.
Read Full Story
NGL Fine-Chem Invests in 3.10 MW Solar and 3.60 MW Wind Projects for Long-Term Renewable Energy Supply
NGL Fine-Chem Limited's Board approved entering into power purchase agreements for renewable energy from a 3.10 MW solar and a 3.60 MW wind power project in Maharashtra, alongside subscribing to 26% and 22.28% equity stakes respectively in their special purpose vehicles.
Read Full Story
