Coromandel International reported a 62.20% jump in consolidated net profit to ₹501.59 crore for the first quarter of 2025-26, driven by strong sales, the fertiliser company said on Thursday.
Its net profit rose from ₹309.24 crore in the year-ago period, according to a regulatory filing.
The total revenue climbed 49% to ₹7,042.30 crore during the April-June quarter from ₹4,728.83 crore a year earlier, while expenses rose to ₹6,448.72 crore from ₹4,345.74 crore.
"Coromandel made a strong beginning to the season, registering growth across the businesses, driven by procurement efficiencies, operational excellence and effective marketing initiatives," Managing Director and CEO S Sankarasubramanian said.
Performance was aided by early monsoon onset that resulted in higher crop sowings and improved agricultural inputs consumption, he added.
The board approved the acquisition of an additional 17.69% stake in Baobab Mining and Chemicals Corporation SA, Senegal, through wholly-owned subsidiary Coromandel Chemicals Limited for USD 7.70 million. This will increase the stake to 71.51% from 53.82%.
"The acquisition of an additional stake in BMCC is a strategic move to further strengthen our backwards integration in the phosphates value chain," Sankarasubramanian said.
The company's backwards integration projects for phosphoric and sulphuric acid plants at Kakinada are progressing well and are likely to be commissioned by the fourth quarter of fiscal 2025-26.
Coromandel recently signed a long-term agreement with Saudi Arabia-based Maaden for securing DAP shipments to India and set up a joint venture with Sakarni Plaster to manufacture phospho gypsum-based green building materials.
