Coromandel International Ltd

Coromandel International Limited — Trading Window closed from October 1, 2026 till 48 hours after declaration of unaudited financial results for the quarter/half year ending September 30, 2026

Coromandel International Limited: Trading Window closed from October 1, 2026 until 48 hours after declaration of unaudited financial results for the quarter/half-year ending September 30, 2026

Tax Dispute Update

• GST Order-in-Appeal for FY 2019-20 levies tax Rs 71,63,421, penalty Rs 12,66,303, plus interest.
• Date of receipt from authority: 21 September 2026.
• Order confirms excess ITC due to GSTR-3B vs GSTR-2A mismatch for FY 2019-20.
• No significant financial impact; appeal to GST Appellate Tribunal planned.

Summary of guarantee

• Purpose: Coromandel issued a corporate guarantee to Citibank N.A. for BMCC's working capital facility.
• Counterparty and borrower: Citibank N.A. and BMCC, Senegal, a Coromandel subsidiary.
• Facility size and guarantee amount: BMCC facility USD 14.09m; guarantee USD 15.5m (110%).
• Equivalent XOF amounts: facility ~XOF 7,867.71 million; guarantee ~XOF 8,654.48 million.
• Structure: BMCC investments held via Coromandel Chemicals Limited, a wholly owned subsidiary; at arm's length.
• Liability and impact: guarantee is a contingent liability up to USD 15.5m, payable on BMCC default.
• Date of disclosure: September 16, 2026.

Debt / Guarantee Update

• Coromandel issued a corporate guarantee of USD 15.5 million to Citibank N.A. for BMCC's working capital.
• BMCC has a USD 14.09 million working capital facility; guarantee equals 110% of facility.
• The guarantee is at arm's length; Coromandel Chemicals Limited is a promoter-group WOS.
• Contingent liability up to USD 15.5 million; payment may occur if BMCC defaults.

Key terms

• Parties: Coromandel International Limited and Coromandel Chemicals Limited (wholly owned subsidiary).
• Purpose: Convert loan including accrued interest of Rs 108.07 Crores into equity.
• Size/consideration: Issue of 2,70,52,132 equity shares at Rs 39.95 per share.
• Shareholding: Parent holds 100% in Coromandel Chemicals Limited.
• Related party status: Yes; subsidiary relationship; arm's length transaction approved.
• Regulatory/approval: Audit Committee and Board approval on 23 July 2026.
• Lender/borrower: Lender - Coromandel International Limited; Borrower - Coromandel Chemicals Limited.
• Outstanding loan: Rs 108.07 Crores outstanding as on 30 June 2026.
• Impact: Increases subsidiary equity; no change in overall control.
• Other disclosures: No nominee director; no conflicts beyond related party relationship.

Facility inauguration and drone launches

• New Dhaksha facility inaugurated in Aymicheri, Kancheepuram, Tamil Nadu to expand UAV manufacturing.
• Facility aims to enable collaboration across the drone value chain and indigenous technology development.
• Two new agricultural drones launched: DH Agrigator E10 Prime and E10 Eco.
• E10 Prime aligns with India's Namo Drone Didi programme and supports domestic drone ecosystem.
• E10 Eco is an affordable model to expand drone-based farming services for small farmers.
• Defence portfolio to benefit from dedicated production line and indigenisation efforts.
• Expanded sourcing network and service centres to support growing operations.
• Site will serve as a platform for collaboration across the drone value chain.
• Arun Alagappan, Executive Chairman, inaugurated the facility.
• Dhaksha Unmanned Systems is a Coromandel subsidiary.

ESOP Allotment

• 44,460 ESOP shares allotted; share capital rises to Rs 29,50,60,899.