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Coromandel International posts Q4, FY 2018-19 results

Posted On: 2019-04-24 09:43:44

Coromandel International Limited, India's leading agri solutions provider is in the business of Fertilisers, Crop Protection, Specialty Nutrients, Organic Manure and Retail. The Company has reported the financial results for the quarter ended 31 March 2019.

Consolidated performance for the quarter ended 31 March 2019

Q4 Total Income up by 9%, PAT up by 22%

The Company's consolidated total income grew by 9% during the quarter ended 31 March 2019. Total Income for the quarter is Rs. 2,647 crores in comparison to the corresponding quarter last year of Rs.2,428 crores. Profit before depreciation, interest, taxes and exceptional item (EBITDA)for the quarter ended 31 March 2019 has Increased by 40% to Rs. 259 crores vs. Rs.185 crores during corresponding quarter last year. Consolidated net profit after tax for the quarter is Rs. 110 crores in comparison to Rs.90 crores for the corresponding quarter last year.

For the year ended 31 March 2019, the Company's consolidated total income is Rs. 13,262 crores (PY Rs. 11,187 crores) registering growth of 19%. Profit before depreciation, interest, taxes and exceptional item (EBIDTA) is Rs. 1,443 crores (PY Rs. 1,256 crores) and profit after tax is Rs.720 crores (PYRs.691 crores).

Standalone performance for the quarter ended 31 March 2019

The Company's total income grew by 9 % to Rs2642 crores during the quarter ended 31 March 2019 in comparison to the corresponding quarter last year of Rs. 2,432 crores. Profit before depreciation, interest, taxes and exceptional item (EBITOA) for the quarter ended 31 March 2019 has increased by 43% to Rs. 256 crores vs. Rs. 179 crores during corresponding quarter of last year. Net profit after tax for the quarter is Rs. 107 crores in comparison to Rs.85 crores for the corresponding quarter last year.

For the year ended 31 March 2019, the Company's total income is Rs. 13,240 crores (PY Rs. 11,168 crores) registering growth of 19%. Profit before depreciation, interest, taxes and exceptional item (EBITDA) is Rs. 1,437 crores (PY Rs. 1,246 crores) and profit after tax is Rs. 714 crores (PYRs.685 crores).

Commenting on the financial results, Mr. Sameer Goel - Managing Director, Coromandel International Limited, said: "Coromandel has reported a good quarter, driven by its performance in Nutrients and allied businesses. This was despite a deficit in the North east monsoon, which impacted the sowing and agri input consumption in the Company's key markets.

For the year 2018-19, Coromandel has made an all-round progress by improving its customer engagement, branding capabilities and furthering its operational efficiencies. The Company has strengthened its R&D,product development and registration functions. During the year, Company has introduced ten new products in nutrient and crop protection businesses. It has established key partnerships in the areas of research, technology, sourcing and marketing to meet its growth aspirations.

The Integrated Nutrient Structure continued to support the channel and farmer activation initiatives, improving the Company's market share in its key operating states. Major infrastructure projects are progressing well and are expected to improve the operational flexibility. Coromandel's Retail business strengthened its technology interventions in the areas of crop diagnostics, farm advisory and farm mechanization.

Crop Protection Business registered revenue increase of 8% during the year, growing in domestic and international markets. The business is actively pursuing new product development and has successfully launched five products during the year, including two in house patented combinations. Recently acquired Bio pesticide business has enabled access to developed markets like USA, Canada and Europe and provided presence in complementary product segments. The Biobusiness has performed well during the year, improving its product offerings, sourcing capabilities and extraction efficiencies.

With a stable business environment, government's agrarian reforms and forecast of a near normal monsoon, we expect a healthy growth infarm sector during 2019. Coromandel will continue to focus on improving its customer connect and develop its research and agri-technology interventions to improve its farmer value proposition. Coromandel, with its position as a leading agri solution provider, will continue to drive farm productivity and support farmer's prosperity."

Shares of COROMANDEL INTERNATIONAL LTD. was last trading in BSE at Rs.425 as compared to the previous close of Rs. 430.85. The total number of shares traded during the day was 5014 in over 330 trades.

The stock hit an intraday high of Rs. 435.9 and intraday low of 422.7. The net turnover during the day was Rs. 2153904.


Source: Equity Bulls

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