Future growth expectations in sales/revenue/volumes?

Crop Protection Business: Expected revenue growth of 20%-25% driven by new product introductions, increased formulations, and expanded domestic B2C market presence. Active Ingredient Volumes: Growth anticipated from additional Mancozeb capacity at Dahej and Sarigam, mainly for exports. Formulation Business: Planning aggressive growth of 20%-25% with six new product launches and increased imports of active ingredients. Overall CPC Business: Sustained growth anticipated with export recovery and broadening product portfolio. Nano DAP Segment: Strong presence with ~50% market share and gro

Future growth expectations in earnings/operating earnings/profits/EPS?

Coromandel expects growth driven by additional capacity in Mancozeb (10,000 tons at Dahej, 20,000 tons at Sarigam) with paybacks under 1-2 years. Crop protection business is targeting aggressive growth of 20%-25% in domestic formulations with six new product launches. Export business is strong, supported by volume growth and new product registrations. EBITDA margins in crop protection likely to sustain around 19%, helped by currency depreciation. Fertilizer margins face pressure due to raw material inflation; government subsidy adjustments are awaited to stabilize margins. Non-subsidy EBITDA s

Current/ Expected Orderbook/ Pending Orders?

Dhaksha, the defense segment initiative by Coromandel, is in a recovery mode. The first order execution for Dhaksha is expected in the current year (FY27). Successful execution of the first order is anticipated to boost confidence for repeat orders across various defense segments. The facility for Dhaksha is moving to a larger location, expected to be ready by May. The company is strengthening R&D and plans to introduce new products over the next 6 to 9 months to realize the value of investments. The long lead time in execution of some drone business orders has led to impairment, indicating ch

Any current/future new fundraising through debt or equity?

There is no explicit mention of any current or planned new fundraising through debt or equity in the provided transcript. The document mentions a recent rights issue of INR 250 crores by NACL to reduce high-cost debt, which has lowered borrowing costs. The company has made significant investments (over INR 3,000 crores in last two years) across business segments but no new fundraising plans have been detailed. Management indicates a cautious approach for large-scale investments, focusing on realizing value from current investments before considering fresh investments. No mention of upcoming de

Any current/future capex/capital investment/strategic investment?

Dhaksha facility is expanding to a larger place, expected to be ready by May 2026, supporting defense and agriculture drone product scaling. Investment in fluorination chemistry is planned in coming quarters to enhance CDMO capabilities organically. Capacity expansion at Dahej plant by 10,000 tons for Mancozeb; payback in less than one year, with an additional 20,000-ton expansion at Sarigam underway, expected by mid-2026. Strengthening R&D to introduce new products over next 6-9 months. Setting up a Technical MAP plant and seaweed granulation capacity in specialty nutrient business, expected

IN US

Sale is live|00:00:00left today

Coromandel International LtdQ1 FY26Fertilizers & Agrochemicals

Coromandel International Ltd Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,971P/E: 27.6Market Cap: ₹58.5K CrSector: Fertilizers & Agrochemicals

Management growth scorecard

Revenue

Category 2

Margin

N/A

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 2 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

→Crop Protection Business: Expected revenue growth of 20%-25% driven by new product introductions, increased formulations, and expanded domestic B2C market presence.
→Active Ingredient Volumes: Growth anticipated from additional Mancozeb capacity at Dahej and Sarigam, mainly for exports.
→Formulation Business: Planning aggressive growth of 20%-25% with six new product launches and increased imports of active ingredients.
→Overall CPC Business: Sustained growth anticipated with export recovery and broadening product portfolio.
→Nano DAP Segment: Strong presence with ~50% market share and growing international market penetration.
→Retail Business: Over 30% growth in 2025-26 with expansion into new states and digital engagement.
→Drone Business (Dhaksha): Expected growth as facilities and strategic collaborations expand.
→Fertilizer Segment: Market share growth at 17.5%, finished goods inventory supports sales recovery; new granulation capacity coming online by December for volume increase.

Margin guidance

→Coromandel expects growth driven by additional capacity in Mancozeb (10,000 tons at Dahej, 20,000 tons at Sarigam) with paybacks under 1-2 years.
→Crop protection business is targeting aggressive growth of 20%-25% in domestic formulations with six new product launches.
→Export business is strong, supported by volume growth and new product registrations.
→EBITDA margins in crop protection likely to sustain around 19%, helped by currency depreciation.
→Fertilizer margins face pressure due to raw material inflation; government subsidy adjustments are awaited to stabilize margins.
→Non-subsidy EBITDA share stood at 34% indicating diversification.
→Consolidated revenues hit a record INR 31,827 crores; EBITDA INR 3,232 crores indicating operational strength.
→Synergy from NACL acquisition expected to stabilize margins (~9%-10%) and enable cross-selling.
→Longer-term CDMO opportunities are developing but expected to take 2-3 years to mature.

3 more insights locked — sign up free to unlock

Fundraise plans

→There is no explicit mention of any current or planned new fundraising through debt or equity in the provided transcript.
→The document mentions a recent rights issue of INR 250 crores by NACL to reduce high-cost debt, which has lowered borrowing costs.
→The company has made significant investments (over INR 3,000 crores in last two years) across business segments but no new fundraising plans have been detailed.
→Management indicates a cautious approach for large-scale investments, focusing on realizing value from current investments before considering fresh investments.
→No mention of upcoming debt or equity fundraising specifically related to Dhaksha, CDMO, or other segments.
→Overall, no announcements or plans for new fundraising through debt or equity have been disclosed in this call.

Order book

→Dhaksha, the defense segment initiative by Coromandel, is in a recovery mode.
→The first order execution for Dhaksha is expected in the current year (FY27).
→Successful execution of the first order is anticipated to boost confidence for repeat orders across various defense segments.
→The facility for Dhaksha is moving to a larger location, expected to be ready by May.
→The company is strengthening R&D and plans to introduce new products over the next 6 to 9 months to realize the value of investments.
→The long lead time in execution of some drone business orders has led to impairment, indicating challenges in order fulfillment timelines.
→Overall, the orderbook in defense segments like Dhaksha is on an improving trajectory with expected growth in the near future.

Capex plans

Yes

→Dhaksha facility is expanding to a larger place, expected to be ready by May 2026, supporting defense and agriculture drone product scaling.
→Investment in fluorination chemistry is planned in coming quarters to enhance CDMO capabilities organically.
→Capacity expansion at Dahej plant by 10,000 tons for Mancozeb; payback in less than one year, with an additional 20,000-ton expansion at Sarigam underway, expected by mid-2026.
→Strengthening R&D to introduce new products over next 6-9 months.
→Setting up a Technical MAP plant and seaweed granulation capacity in specialty nutrient business, expected to generate revenue in coming years.
→Focus on optimizing current investments before making large-scale fresh investments in CDMO space.
→Leveraging collaboration with Nagarjuna and other partners for CDMO and crop protection growth.

How does Coromandel International Ltd rank vs peers in Fertilizers & Agrochemicals?

Pro feature

1Coromandel International Ltd

Rev 2

See full Fertilizers & Agrochemicals sector rankings

Want more stocks like Coromandel International Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio