Coromandel International Limited (NSE:COROMANDEL) announced unaudited financial results for the quarter ended 30 June 2026 via a Board meeting held on 23 July 2026. The company reported standalone net profit of Rs 376.96 crore and consolidated net profit of Rs 381.56 crore for Q1 FY27. The Board also approved conversion of approximately Rs 108 crore loan to equity in subsidiary Coromandel Chemicals Limited and restructuring of USD 9.70 million in loans to step-down subsidiary Baobab Mining and Chemicals Corporation.
Key Highlights
- Standalone net profit for Q1 FY27 reached Rs 376.96 crore, compared with Rs 154.31 crore in Q1 FY26, reflecting increased operational performance.
- Consolidated net profit stood at Rs 381.56 crore in Q1 FY27 against Rs 114.64 crore in Q1 FY26, aided by the NACL acquisition completed in August 2025.
- Standalone revenue from operations was Rs 7,743.55 crore in Q1 FY27 versus Rs 7,101.32 crore in Q1 FY26, an increase of approximately 9 percent year-on-year.
- Consolidated revenue from operations totalled Rs 8,164.77 crore in Q1 FY27 compared with Rs 7,042.30 crore in Q1 FY26.
- The Board approved conversion of loan value of approximately Rs 108 crore to equity shares of Coromandel Chemicals Limited at an issue price of Rs 39.95 per share including premium.
- The Board approved restructuring of USD 9.70 million loans extended to Baobab Mining and Chemicals Corporation into equity, preference shares or other mutually agreed instruments.
- Earnings per share on standalone basis were Rs 12.80 in Q1 FY27 on a basic basis and Rs 12.79 on a diluted basis, versus Rs 5.24 basic and diluted in Q1 FY26.
About the Company
Coromandel International Limited (NSE:COROMANDEL, CIN: L24120TG1961PLC000892) is an agri-inputs company headquartered in Secunderabad, Telangana. The company operates through two primary business segments: Nutrient and other allied business, which includes fertilisers and related products, and Crop protection, which encompasses agrochemical offerings. The company serves farmers and agricultural distributors across India and internationally. It holds subsidiaries including Coromandel Chemicals Limited and, since August 2025, holds 53.08 percent voting stake in NACL Industries Limited, which was acquired to strengthen the crop protection segment. The company is listed on the National Stock Exchange and BSE Limited.
Announcement in Detail
The Board of Directors of Coromandel International Limited met on 23 July 2026 and approved the unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, following recommendation by the Audit Committee. The results were prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by M/s. SR Batliboi & Associates LLP, Chartered Accountants, the company's statutory auditors, who issued an unmodified limited review report on both standalone and consolidated results.
On the standalone basis, the company reported revenue from operations of Rs 7,743.55 crore in Q1 FY27 compared with Rs 7,101.32 crore in the corresponding quarter of the previous year. Total income including other income of Rs 48.76 crore stood at Rs 7,792.31 crore. Profit before tax was Rs 505.34 crore, with net profit after tax of Rs 376.96 crore. The profit before tax for Q1 FY27 included no exceptional items. However, the quarter ended 31 March 2026 (Q4 FY26) carried exceptional items amounting to Rs 125.15 crore on the standalone basis, representing an impairment provision relating to the company's Drones subsidiary business due to delays in order execution. On the consolidated basis, the company recorded revenue from operations of Rs 8,164.77 crore in Q1 FY27 against Rs 7,042.30 crore in Q1 FY26. Consolidated profit before tax was Rs 513.68 crore with net profit after tax of Rs 381.56 crore.
The Board also approved two material corporate actions under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. First, the conversion of loan value amounting to approximately Rs 108 crore to equity shares of Coromandel Chemicals Limited, a wholly owned subsidiary, at an issue price of Rs 39.95 per equity share including premium (face value Rs 10 per share). Second, the restructuring of loans amounting to USD 9.70 million advanced to Baobab Mining and Chemicals Corporation S.A. (BMCC), a step-down subsidiary held through Coromandel Chemicals Limited, into equity, preference shares with optionality or other mutually agreed instruments. The company stated that detailed disclosures required under Regulation 30 and relevant SEBI circulars would be provided at an appropriate time, subject to completion of certain further actions.
Impact on Investors
The Q1 FY27 results reflect improved operational performance on both standalone and consolidated metrics. Investors will note that standalone net profit of Rs 376.96 crore represents a 144 percent increase compared with Rs 154.31 crore in Q1 FY26, driven by higher revenue and improved operational efficiency. The consolidated net profit increase of 233 percent, from Rs 114.64 crore to Rs 381.56 crore, is partly attributable to the consolidation of NACL Industries Limited, which became a subsidiary in August 2025. Standalone earnings per share of Rs 12.80 (basic) compares with Rs 5.24 in Q1 FY26, representing a 144 percent year-on-year improvement. This improvement in per-share earnings reflects both net profit growth and modest changes in share capital, which remained stable at Rs 29.50 crore across both periods.
Regarding the approved capital structure changes, the conversion of Rs 108 crore subsidiary debt to equity in Coromandel Chemicals Limited will reduce the subsidiary's leverage and improve its balance sheet strength, though it will dilute existing shareholding in that subsidiary. The restructuring of USD 9.70 million in loans to Baobab Mining and Chemicals Corporation similarly converts debt obligations into equity or hybrid instruments, addressing refinancing and debt service pressures. Investors should note that these transactions involve wholly owned or step-down subsidiaries and do not directly dilute shareholding in Coromandel International Limited itself. However, they may affect the company's consolidated profitability profile and equity structure depending on the final terms of the restructuring, which the company will disclose in full compliance filings when such actions are formalised.
Sector / Market Context
Coromandel International operates in India's agri-inputs sector, which comprises fertilisers, agrochemicals, and allied agricultural products. The domestic fertiliser market is regulated through the Nutrient Based Subsidy (NBS) scheme, which influences pricing and margins for major nutrient products. India's crop protection market has seen steady growth driven by increasing mechanisation, adoption of integrated pest management, and rising awareness among farming communities. The company's acquisitions and subsidiary restructuring activities reflect a strategic approach to consolidating its presence in the crop protection segment, particularly through the NACL Industries acquisition completed in August 2025. Segment-wise, the Nutrient and other allied business generated revenue of Rs 6,910.49 crore standalone in Q1 FY27, while Crop protection contributed Rs 870.08 crore. On a consolidated basis inclusive of NACL, segment revenue for Nutrient was Rs 6,951.03 crore and Crop protection was Rs 1,250.76 crore, demonstrating the material contribution of the recently acquired crop protection business to overall consolidated performance.