{"id":142833,"date":"2023-02-27T04:32:14","date_gmt":"2023-02-27T09:32:14","guid":{"rendered":"https:\/\/44.250.171.167\/?p=142833"},"modified":"2023-02-27T04:32:16","modified_gmt":"2023-02-27T09:32:16","slug":"earnings-coromandel-international-ltd-nsecoromandel-q3fy23-results-out-total-income-rise-64-yoy","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/earnings-coromandel-international-ltd-nsecoromandel-q3fy23-results-out-total-income-rise-64-yoy\/","title":{"rendered":"Earnings |Coromandel International Ltd. (NSE:COROMANDEL): Q3FY23 Results Out; Total Income rise 64% YoY"},"content":{"rendered":"\n

Coromandel International Ltd. (NSE:COROMANDEL)<\/a> is an Indian multinational company that produces agricultural products and specialty chemicals. It operates in two segments: fertilizers and specialty nutrients, and crop protection. The company provides a range of agri-inputs such as fertilizers, crop protection, and specialty nutrients to farmers. It also offers solutions for sustainable agriculture, crop yield management, and soil fertility. Coromandel International Ltd. was founded in 1961 and is headquartered in Secunderabad, Telangana, India.<\/p>\n\n\n\n

Coromandel International is a fertilizer company that announced financial results for the third quarter ended December 31, 2022. The company’s standalone total income for Q3FY23 was Rs 8,350 crore, a growth of 64% compared to Rs 5,101 crore in the same period last year. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q3FY23 was Rs 781 crore, a growth of 44% compared to Q3FY22. The profit after tax (PAT) for Q3FY23 was Rs 539 crore, a YoY growth of 42% compared to Rs 379 crore in the same period last year.<\/p>\n\n\n\n

For the nine months ended December 31, 2022, the company’s standalone total income was Rs 24,265 crore, a growth of 62% compared to Rs 14,937 crore in the same period last year. The EBITDA for the nine months ended December 31, 2022, was Rs 2,519 crore, a growth of 43% compared to Rs 1,764 crore in the same period last year. The PAT for the nine months ended December 31, 2022, was Rs 1,773 crore, a YoY growth of 44% compared to Rs 1,229 crore in the same period last year.
Coromandel’s consolidated total income for Q3FY23 was Rs 8,349 crore, a growth of 64% compared to Rs 5,100 crore in the same period last year. The PAT for Q3FY23 was Rs 527 crore, a YoY growth of 38% compared to Rs 382 crore in the same period last year. The company’s strong performance in Q3FY23 was mainly due to robust growth in both its fertilizer and crop protection businesses, driven by a healthy monsoon season and favorable market conditions. Coromandel’s management has expressed confidence in its business outlook, given its strong financial position, a diversified product portfolio, and a favorable policy environment for the agricultural sector. The company is expected to continue to benefit from rising demand for agricultural inputs and products in the coming quarters.<\/p>\n\n\n\n

Commenting on the financial results, Mr. Arun Alagappan, Executive Vice Chairman, Coromandel International Ltd. said: “Overall, the agricultural environment remained favourable in most of the key operating markets with the above average monsoon, normal crop sowing and favourable policies from the Government aiding better availability of agri inputs. Coromandel delivered an excellent performance during the quarter registering good growth in revenue and profitability which will help its further investments in Agribusiness. Record volume sales in NPKs and higher subsidy realisation in the Nutrients business primarily led to increase in the revenue during the quarter. In Crop Protection business, Domestic formulation and B2B business grew during the quarter which was offset with headwinds faced in the export markets. Plants continued to operate efficiently and key capex projects for capacity expansion and backward integration are progressing as per schedule.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Coromandel International Ltd. (NSE:COROMANDEL) is an Indian multinational company that produces agricultural products and specialty chemicals. It operates in two segments: fertilizers and specialty nutrients, and crop protection. The company provides a range of agri-inputs such as fertilizers, crop protection, and specialty nutrients to farmers. It also offers solutions for sustainable agriculture, crop yield management, […]<\/p>\n","protected":false},"author":1932,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9931,392],"tags":[9932],"class_list":["post-142833","post","type-post","status-publish","format-standard","hentry","category-agricultural-products","category-earnings","tag-agricultural-products"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":140177,"url":"https:\/\/alphastreet.com\/india\/coromandel-international-ltd-nse-coromandel-q3-fy23-results-out-total-income-rises-65-yoy\/","url_meta":{"origin":142833,"position":0},"title":"Coromandel International Ltd.(NSE: COROMANDEL)| Q3 FY23 Results Out| Total Income rises 65% yoy","author":"Divyansh_Kasana","date":"February 6, 2023","format":false,"excerpt":"Coromandel International Limited (NSE:COROMANDEL) is an Indian agricultural company that specializes in fertilizers, crop protection, and speciality nutrients. 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