10 November 2026, New Delhi: Coromandel International Limited reported its financial results for the quarter and half-year ended September 30, 2026, with consolidated revenue growing 6% year-on-year in Q2 FY27. However, higher raw material costs and pressure on fertiliser business margins affected profitability during the quarter.
The company reported consolidated total income of ₹10,348 crore in Q2 FY27, compared with ₹9,771 crore in the corresponding quarter of the previous financial year. Consolidated EBITDA declined 18% to ₹944 crore from ₹1,147 crore, while profit before tax (PBT) fell 33% to ₹706 crore. Profit after tax (PAT) stood at ₹523 crore, down 34% from ₹793 crore in Q2 FY26.
For the first half of FY27, consolidated total income increased 10% to ₹18,563 crore, compared with ₹16,897 crore in H1 FY26. EBITDA declined 12% to ₹1,705 crore, while PBT and PAT decreased 30% each to ₹1,220 crore and ₹905 crore, respectively.
The company attributed the decline in profitability primarily to margin pressure in the fertiliser business, following an increase in raw material costs amid the ongoing Middle East crisis. The company stated that the higher input costs were not adequately covered by the subsidy.
Coromandel International Q2 and H1 FY27 Financial Results
Consolidated financial performance (₹ crore)
Particulars
Q2 FY26
Q2 FY27
Change
Total Income
9,771
10,348
+6%
EBITDA
1,147
944
-18%
PBT
1,059
706
-33%
PAT
793
523
-34%
Particulars
H1 FY26
H1 FY27
Change
Total Income
16,897
18,563
+10%
EBITDA
1,929
1,705
-12%
PBT
1,737
1,220
-30%
PAT
1,295
905
-30%
Capacity Expansion and Retail Network Growth
Coromandel said its long-term strategic initiatives remain on track. The new NPK fertiliser capacity is progressing and is expected to be completed by Q4 FY27. In the Crop Protection business, additional capacity for a key molecule is expected to become operational during Q3 FY27.
The company also plans to establish a launch plant for fluoro intermediates to support the phased scale-up from research and development to commercial production and expand its capabilities in speciality chemistry.
During the quarter, the retail business opened close to 100 new stores, taking its network to more than 1,300 outlets.
Fertiliser Business Supplies 3.3 Million Tonnes in H1
Commenting on the results, S. Sankarasubramanian, Managing Director and CEO, Coromandel International Limited, said the company delivered a performance amid challenging market conditions, supported by its diversified portfolio and presence across domestic and international markets. During the quarter, the company launched ten new products across its Nutrients and Crop Protection businesses.
In the fertiliser segment, deficit rainfall, higher raw material prices and lower Nutrient Based Subsidy (NBS) rates for the Kharif season affected product offtake and margins in the NP/NPK segment.
Despite these conditions, Coromandel supplied approximately 3.3 million tonnes of fertilisers during H1 FY27. Its market share in the phosphatic fertiliser segment increased to 19%, compared with 17% in the corresponding period last year.
The newly commissioned phosphoric acid and sulphuric acid plant at Kakinada helped the company manage external supply disruptions. The company also expects the NBS rates for the Rabi season to reflect changes in raw material prices and support the promotion of balanced nutrient application.
Crop Protection Revenue Increases 22%
The Crop Protection business recorded 22% revenue growth during Q2 FY27, supported by performance in export markets. In the domestic market, the company continued to expand its portfolio of differentiated products and combination formulations amid softer consumption conditions.
The retail business expanded its presence across key agricultural markets and broadened its range of products and services. The Specialty Nutrients, Organic and Biological businesses also reported growth during the quarter, supported by farmer adoption of differentiated crop solutions.
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