Coromandel International Ltd

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.

Key Update

• Order-in-Appeal for FY2018-19 confirms tax Rs 1,23,51,441 and penalty Rs 12,35,144.
• Appeal planned before GST Appellate Tribunal, Jammu.
• Dispute relates to alleged excess ITC due to GSTR-3B vs GSTR-2A mismatch.
• No material impact on financials or operations anticipated at this time.

Financial Performance

• Consolidated total income INR 8,215 crores, up 15% YoY.
• EBITDA INR 761 crores, down 3% YoY.
• Net profit INR 382 crores, down from INR 502 crores.
• Subsidy revenue share: 77% of quarterly revenue.
• Subsidy receipts INR 1,392 crores in Q1.
• Subsidy outstanding as of 30 June: INR 3,254 crores.
• Additional subsidy of INR 568 crores received in July.
• NACL EBITDA INR 41 crores; margin 11% vs 8%.
• NACL revenues INR 383 crores; export volumes and pricing pressures.

Operating Update

• Fertilizer margins pressured by higher input costs; subsidy revisions needed.
• Phosphoric acid price settled at $1,700 for Q2 from $1,360 in Q1.
• Sulphuric and phosphoric acid plants commissioned; granulation project on track for Q4.
• Fertilizer volumes down 9% to 10 lakh tonnes; market share up to 22%.
• Points of sale volume 7.9 lakh tonnes; market share 16%.
• SSP volumes up 19%; GroPlus and Urea-SSP account for over 50% SSP sales.
• Senegal rock phosphate mining >1.1 lakh tonnes this quarter.
• Bioproducts: two new products; white-label retail manufactured by bio business.
• Retail revenue up 85% YoY; 76% stores profitable; 1,200+ outlets.
• Nano: volumes up 2%; Nano DAP/Urea ~60% market share; exports started.
• Dhaksha drones: 100–150 drones this quarter; target 500 this year; EBITDA impact modest.
• Sustainability: Responsible Care Certification; IIT Chennai Research Park planned.

Projects and Capex

• Sulphuric acid and phosphoric acid plants commissioned; operations stabilized.
• Granulation project on track for commissioning in Q4 this year.
• Sustainable capex guidance around INR 300 crores; opportunistic investments may proceed.
• BMCC capacity 750,000 tonnes; 50% via own retail outlets; expanding in Maharashtra and Tamil Nadu.
• MAP plant in Kakinada for specialty nutrients; evaluating purified phosphoric acid for battery chemicals.
• CDMO opportunities pursued; Ankleshwar launch plant for fluorination-based chemicals.

Q&A Highlights

• Subsidy revisions and six-month average price discussed; NP/NPK pricing not controlled.
• QR code pilot in 10–12 states; links farmer data to dosage.
• Capex returns: payback generally under 3 years for key investments.
• Drones: Dhaksha fleet target 500; EBITDA impact modest.
• NACL margins explained by mining amortization; consolidation effects to EBITDA.

Risks and Watchpoints

• Subsidy delays and higher input costs risk fertilizer margins.
• Monsoon variability and rainfall deficits impact agricultural demand.
• Raw material supply disruptions from geopolitical tensions affect key inputs.
• Policy uncertainty around NBS subsidy revisions remains a critical risk.

Meeting Details

• Date: July 23, 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve unaudited standalone and consolidated financial results for quarter ended June 30, 2026.

Other Notes

• Intimation under Regulation 29 SEBI LODR issued.

Subject

• ICC cert covers all 18 Coromandel manufacturing facilities.

Financials

• FY25-26 turnover was Rs 31,827 crore.

Operations & ESG

• Certification covers Nutrients, Crop Protection, Specialty Nutrients, and Bio.
• Focus areas include process safety, employee wellbeing, environmental performance, and distribution safety.
• Certification valid April 2026 to March 2029.

Management

• MD & CEO cited commitment to safety and standards.

Dematerialisation/rematerialisation status

• Details of securities dematerialised/rematerialised during the period were furnished to all stock exchanges.
• Dematerialised shares are listed on the stock exchanges where the original shares were listed.
• Physical certificates, if any, were mutilated and cancelled; the depository name substituted as registered owner within 15 days.
• Period covered: the reported quarter.

AGM overview and key actions

• 64th AGM via Video Conferencing/OAVM on 23 July 2026 at 3:30 PM IST.
• E-voting window: 20 July 2026 09:00 to 22 July 2026 17:00.
• Book closure: 17 July to 23 July 2026.
• Notice issued 1 July 2026; integrated annual report available online.
• Adoption of standalone financial statements for FY2025-26.
• Adoption of consolidated financial statements for FY2025-26.
• Interim dividend Rs 9 per share already paid.
• Final dividend Rs 2 per share; total Rs 11 per share.
• Acquired controlling stake in NACL Industries Limited for ₹82,001 Lakhs.
• Statutory auditors: Batliboi appointed for five years; remuneration Rs 2.27 crore.