Q2FY22 Quarterly Result Announced for Coromandel International Ltd.
Highlights – Standalone Results: Total Income in Q2 was at Rs. 6,184 Cr compared with Rs. 4,605 Cr of same period previous year, registering a growth of 34% over previous year. EBITDA for Q2 was Rs. 740 Cr, declined by 12% over Q2 of previous year. PAT for Q2 was Rs. 519 Cr, vs Rs. 582 Crs. in Q2 of previous year Total Income in H1 was at Rs. 9,850 Cr compared with Rs. 7,828 Cr of same period previous year, registering a growth of 26% over previous year. EBITDA for H1 was Rs. 1,220 Cr, vs. Rs. 1,250 crs. in H1 of previous year. PAT for H1 was Rs. 849 Cr vs Rs. 830 Crs. of previous year. Commenting on the financial results, Mr. Sameer Goel, Managing Director, Coromandel International Ltd. “Coromandel registered revenue growth of 34% during the quarter, driven by both nutrient and crop protection business. Coromandel ensured that agri inputs are made available to the farmers in its key operating markets and promoted the use of balanced nutrition including organic fertilizer to help to rejuvenate the soil and farm productivity. Our Sourcing team ensured timely availability of key raw materials and the operational flexibility at the plants helped in high-capacity utilisation during the quarter. The company has increased its Bio extraction capacity, built a new liquid fertilizer plant and commissioned its 10th evaporator. Several capital projects for enhancing storage and de-bottlenecking the capacity in its plants are planned to be completed during this year. The New Products introduced by the company during the first half have received encouraging response from the market. The company continues to focus on new product development & applications and has a rich product pipeline for future growth. The company ensured safe plant operations and worked with the local administration and communities to prevent the spread of COVID. The company ran an organisation wide vaccination program for its employees and its workmen. In this quarter, the company has installed seven oxygen generating plants at the Government hospitals to support healthcare infrastructure. With healthy reservoir levels and good soil moisture conditions, we expect good traction in the upcoming Rabi season. Coromandel will continue to work on integrated crop management solution and ensure timely availability of agri-inputs to support the needs of the farming community." Result PDF28-10-2021